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Stock Market & Financial Investment News

News Breaks
October 16, 2012
10:11 EDTMMC, CAM, GLUU, GG, HAL, HTH, NEM, SLB, AONOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Cameron (CAM) initiated with an Outperform at Credit Suisse... Glu Mobile (GLUU) initiated with a Buy at Stifel Nicolaus... Goldcorp (GG) initiated with an Overweight at Barclays... Halliburton (HAL) initiated with an Outperform at Credit Suisse... Hilltop Holdings (HTH) initiated with a Buy at Sterne Agee... Newmont Mining (NEM) initiated with an Overweight at Barclays... Schlumberger (SLB) initiated with a Neutral at Credit Suisse... Aon Corp. (AON) initiated with a Buy at MKM Partners... Marsh & McLennan (MMC) initiated with a Neutral at MKM Partners.
News For CAM;GLUU;GG;HAL;HTH;NEM;SLB;AON;MMC From The Last 14 Days
Check below for free stories on CAM;GLUU;GG;HAL;HTH;NEM;SLB;AON;MMC the last two weeks.
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August 27, 2014
09:53 EDTHTHOn The Fly: Analyst Upgrade Summary
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09:22 EDTHTHOn The Fly: Pre-market Movers
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06:19 EDTHTHHilltop Holdings upgraded to Outperform from Market Perform at Keefe Bruyette
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August 25, 2014
07:02 EDTHALMcDermott names Stuart Spence as CFO, effective August 23
McDermott International (MDR) announced that Stuart Spence has been appointed EVP and CFO following the departure of Perry L. Elders, SVP and CFO, effective August 23. Elders will be pursuing other opportunities. Immediately prior to joining McDermott, Spence served as Vice President, Artificial Lift for Halliburton Company (HAL), where he had overall strategic and operational responsibility for Halliburtonís artificial lift product and service line.
August 24, 2014
14:44 EDTSLBSchlumberger acquisitions should help North American push, WSJ says
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August 21, 2014
09:15 EDTHALEnerCom to hold a conference
The Oil & Gas Conference to be held in Denver on August 18-21 with webcasted company presentations to begin on August 21 at 10 am; not all company presentations may be webcasted. Webcast Link
August 18, 2014
12:19 EDTCAMIngersoll-Rand rises after agreeing to buy Cameron unit for $850M
Shares of Ingersoll-Rand (IR), which makes heating and air conditioning systems, are up after it announced an agreement to acquire the assets of Cameron International Corporation's (CAM) Centrifugal Compression division for $850M. WHAT'S NEW: Ingersoll-Rand this morning entered into an agreement to acquire Cameron's Centrifugal Compression division for $850M. The acquisition is expected to close before the end of the year, subject to regulatory approval. The Cameron unit generated sales of approximately $400M in 2013, has approximately 850 employees and operates from 12 global locations. The results of operations of the Centrifugal Compression business will be reported as discontinued operations for Cameron beginning in the third quarter. Ingersoll Rand plans to fund the acquisition through a combination of cash on hand and debt. WHAT'S NOTABLE: Ingersoll-Rand said it expects the acquisition to be accretive to EBITDA margins, EPS, and ROIC in 2015 and beyond. The company expects the acquisition to add 8c-10c per share to its earnings in 2015. The company anticipates moderate incremental debt, supported by additional earnings from Cameron and core earnings growth. Ingersoll adds that it foresees refinancing of $500M of 2015 debt, and continues to expect a 2014 share repurchase of $1.38B. Cameron said it is selling the unit to focus on its core markets. The company expects after-tax proceeds of about $600M from the sale, part of which it planned to use to support share buybacks. ANALYST REACTION: Following the announcement, Wells Fargo analysts estimated that the acquisition will be approximately 10c-15c accretive excluding impact from synergies and approximately 20c-25c with anticipated synergies. PRICE ACTION: Ingersoll-Rand jumped $1.49, or 2.46%, to $62.03 in intra-day trading, while Cameron is trading down 0.6% to $72.21.
09:08 EDTHTHLone Star reports SWS stake, says merger 'deeply undervalues' shares
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06:33 EDTCAMIngersoll-Rand to host conference call
Conference call to discuss agreement to acquire Cameron International Corporationís centrifugal compression division will be held on August 18 at 9:30 am. Webcast Link
06:32 EDTCAMCameron sells Centrifugal Compression business to Ingersoll-Rand for $850M
Cameron (CAM) has announced that it has entered into a definitive agreement to sell its Centrifugal Compression business to Ingersoll Rand (IR) for cash consideration of approximately $850M, subject to closing adjustments. The decision to divest the Centrifugal Compression division was made after a careful review of Cameron's long-term business strategy to increase its focus on its core markets. The company's goal has been to identify a buyer that is more closely aligned with Centrifugal Compression's broad and global markets. Cameron expects to complete the sale of its Centrifugal Compression business prior to year end, subject to regulatory approval. The company estimates after tax proceeds from the sale to be approximately $600 million, and expects the net proceeds to support stock repurchases. In 2013, the Centrifugal Compression division had revenues of $396M. The results of operations of the Centrifugal Compression business will be reported as discontinued operations beginning in Q3.
06:31 EDTCAMCameron sells Centrifugal Compression business to Ingersoll-Rand for $850M
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06:27 EDTCAMIngersoll Rand to acquire Cameron's centrifugal compressional division for $850M
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August 17, 2014
17:42 EDTSLBSchlumberger should see profits increase, Barron's says
Schlumberger should see profits increase as the company focuses on its North American business, Barron's contends in its cover article. Reference Link

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