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Stock Market & Financial Investment News

News Breaks
July 23, 2014
12:16 EDTBRKRBruker says profitability to improve once CAM restructuring plan implemented
Bruker approved a plan to divest certain assets and implement a restructuring program in the Chemical & Applied Markets, CAM, division within the Bruker CALID Group. These divestment and restructuring actions are expected to result in a reduction of CAM’s employee headcount by approximately 200 to 250 people and are expected to lead to CAM-related restructuring and other one-time charges of between $35M and $40M, of which $10M to $13M are expected to result in future cash charges for employee separation and facility exit costs, and $25M to $27M are estimated for inventory write-downs and asset impairments. The restructuring charges are expected to be incurred in the 2H14 and 1H15. Proceeds from potential divestitures cannot be estimated at this time. The company currently anticipates that the annual run-rate revenues for the CAM products and services will be reduced by approximately $50M-$70M, and profitability is expected to be improved by $15M to $20M annually, once the Plan is fully implemented. The company expects to provide further details on its CAM restructuring plans and financial outlook for 2014 on its Q214 earnings conference call scheduled for August 6. Additionally, as the Plan is implemented, management will continue to evaluate the estimated costs associated with the Plan and may revise its estimates of such costs and the related accounting charges.
News For BRKR From The Last 14 Days
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December 18, 2014
10:01 EDTBRKROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bruker (BRKR) downgraded to Sell from Neutral at Goldman...Linear Technology (LLTC) downgraded to Sell from Neutral at Citigroup... Macerich (MAC) downgraded to Neutral from Buy at MLV & Co... BreitBurn Energy (BBEP) downgraded to Sector Perform from Outperform at RBC Capital... Oceaneering (OII) downgraded to Sector Perform from Outperform at RBC Capital... Oil States (OIS) downgraded to Sector Perform from Outperform at RBC Capital... Teradyne (TER) downgraded to Neutral from Buy at Citigroup... Volcano (VOLC) downgraded to Neutral from Buy at Roth Capital... XL Group (XL) downgraded to Market Perform from Outperform at Keefe Bruyette... Intuit (INTU) downgraded to Neutral from Outperform at Wedbush... Penn Virginia (PVA) downgraded to Market Perform from Outperform at Wells Fargo... Whiting Petroleum (WLL) downgraded to Market Perform from Outperform at Wells Fargo... Time Warner Cable (TWC) downgraded to Neutral from Buy at BTIG... Royal Caribbean (RCL) downgraded to Sell from Hold at DNB Markets... Silicon Image (SIMG) downgraded to Market Perform from Outperform at Northland.
06:21 EDTBRKRBruker downgraded to Sell from Neutral at Goldman
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December 15, 2014
14:03 EDTBRKRBruker comments on SEC findings, confirms $2.4M settlement
Bruker said in a filing that on December 15, Bruker Corporation resolved the investigation of the SEC into the company’s possible violations of the Foreign Corrupt Practices Act arising from past conduct of the company’s subsidiaries operating in China. In August 2011, as disclosed since that time in periodic reports filed with the SEC, Bruker made a voluntary disclosure to the United States DOJ and the SEC of the results of an investigation by the Audit Committee of its Board of Directors regarding these matters and it has have cooperated with the DOJ and SEC in connection with their investigations. Effective December 15, the company consented to the entry of an administrative cease-and-desist order by the SEC concerning violations of the books and records and internal controls provisions of the FCPA. Pursuant to the Order, Bruker will pay an aggregate amount of approximately $2.4M, consisting of $1,714,852 in disgorgement, $310,117 in prejudgment interest, and a $375,000 penalty. The amounts to be paid by the company was fully accrued as of September 30. The company consented to the Order without admitting or denying the SEC findings. In the Order, the SEC recognized the company’s “extensive, thorough, and real-time cooperation with the Commission.” Further, the Order notes that in determining the settlement amount, the SEC considered “remedial acts promptly undertaken by Bruker and the significant cooperation it afforded to the Commission staff.”
13:29 EDTBRKRBruker to pay approximately $2.4M to settle SEC charges of FCPA violations
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