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Stock Market & Financial Investment News

News Breaks
February 19, 2014
04:55 EDTBWA, BWA, JOY, JOY, CAT, CAT, ITW, ITW, BLL, BLL, GE, GE, IR, IR, PX, PX, GD, GD, ST, ST, HON, HON, CMI, CMI, IP, IPBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 19-20.
News For BWA;CMI;HON;ST;GD;PX;IR;GE;BLL;ITW;CAT;JOY;IP From The Last 14 Days
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February 19, 2015
12:45 EDTBLLOn The Fly: Midday Wrap
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11:11 EDTCATCaterpillar retail trends remain negative, says Wells Fargo
After Caterpillar reported earlier that its retail sales of machine declined 14% in the three month period ending in January, Wells Fargo noted that the trend worsened from December's 12% drop and that all regions reported declines. The firm believes retail trends remain negative for Caterpillar shares, on which it keeps a Market Perform rating.
09:09 EDTCATCaterpillar reports retail machines sales down 14% in three months end January
Caterpillar reported in a filing that its total retail machines sales were down 14% on a three month rolling basis in January. For reference, retail sales of machines were down 12% in the period ending in December and were down 10% in the period ending in November. The company reported world Resources Industries sales down 27% in the January period, which was down fom the 22% drop in the December end period. Construction Industries world sales were down 10%, worse than the 9% drop in the December period. Total Energy & Transportation Retail Sales were up 22% in the January end period, which was the same growth rate as seen in the December period.
08:30 EDTHONHoneywell repeats target for double digit earnings growth over 2013-2018 period
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08:28 EDTHONHoneywell CFO says would consider adding leverage for right M&A deal
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08:22 EDTHONHoneywell reaffirms FY15 sales, EPS forecast
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08:01 EDTBLLBall Corp. to hold a conference call
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07:46 EDTGDAustralia opens bids for $8B armored vehicle defense contract, WSJ says
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07:20 EDTCATCaterpillar facing multiple federal investigations, WSJ says
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07:10 EDTPXPraxair will invest $400M in Gulf pipeline, signs 20-year deal with Yara, BASF
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05:49 EDTBLLBall's proposed acquisition of Rexam valued at $8.4B
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05:47 EDTBLLBall Corp. confirms deal to acquire Rexam
The boards of Ball Corp. (BLL) and Rexam (REXMY) announced that they have reached agreement on the terms of a recommended offer for the entire issued and to be issued ordinary share capital of Rexam by Ball UK Acquisition Limited, a wholly-owned subsidiary of Ball. The Offer is to be effected by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act. Under the terms of the Offer, Rexam Ordinary Shareholders will be entitled to receive for each Rexam Ordinary Share held 407 pence in cash and 0.04568 of a New Ball share. Ball will provide a Mix and Match Facility, which will allow Rexam Ordinary Shareholders to elect to vary, subject to the availability of offsetting elections, the proportions in which they receive New Ball Shares and cash. In addition, Rexam Ordinary Shareholders will be entitled to the 2014 Final Dividend of 11.9 pence announced by Rexam today, subject to shareholder approval, and to any other dividends declared or paid by Rexam in respect of any completed six-month period ended 30 June or 31 December between the date of this announcement and the date of the day before the Effective Date consistent with Rexam's past practice, provided that such dividends do not exceed the corresponding interim or final dividend paid or declared in respect of 2014. The combination is expected to be accretive to earnings per share within the first full year of completion and is in line with Ball's strategy to increase Economic Value Added dollars or returns greater than its weighted average cost of capital on its larger average invested capital base. The combination is expected to foster meaningful EVA dollar growth over the medium term. The Ball Board has approved the Offer and intends to recommend unanimously that Ball Shareholders vote in favour of the Offer. The receipt of competition authority clearances in the E.U. and U.S. is a Pre-Condition to the Offer. In addition, Ball and Rexam have agreed that the absence of a requirement to make material divestitures in the E.U. and the U.S. on a combined basis is a Condition of the Offer. It is expected that the Scheme Document will be posted to Rexam Shareholders shortly after the satisfaction or waiver of the Pre-Condition. The Offer is expected to complete in the first half of 2016.
February 18, 2015
13:04 EDTBLLBall Corp. near deal to acquire Rexam, WSJ reports
Ball Corp. (BLL) is close to acquiring Rexam (REXMY) in a deal that could be announced this week, Wall Street Journal reports, citing people familiar with the matter. The companies confirmed earlier this month that they were in merger talks. A combination would create the largest beverage-can maker in the world. Peers of Ball include Crown Holdings (CCK), Owens-Illinois (OI) and Silgan Holdings (SLGN). Reference Link
12:44 EDTBLLBall Corp. near deal to acquire Rexam, Dow reports
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11:14 EDTGEGE, Alstom deal likely to face intense EU scrutiny, Reuters says
General Electric's (GE) deal for Alstom's (ALSMY) power equipment business is likely to face an intense EU antitrust investigation, says Reuters, citing people familiar with the matter. Reference Link
10:54 EDTJOYJoy Global says reducing cost curve is company's priority for customers
Joy Global says focused on growing service business. Looking to accelerate savings on service business for 2015. Company focuses on life cycle management of equipment. Joy Global developing new products in service sector to allow customers to reduce costs. Sees opportunity in tough market to build service business. Seeing better visibility on rebuilds. Comments taken from Barclays Capital Industrial Select Conference.
10:26 EDTJOYJoy Global backs FY15 EPS view $3.10-$3.50, consensus $3.21
Backs FY15 revenue view $3.6B$3.8B, consensus $3.65B. Guidance taken from slides prepared for Barclays Industrial Select Conference.
09:10 EDTSTSensata to host investor meeting
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07:07 EDTJOY, ITW, PX, IP, GEBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.
06:23 EDTCATCaterpillar discloses grand jury subpoena requesting financial information
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