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Stock Market & Financial Investment News

News Breaks
February 6, 2013
07:20 EDTCAM, SYY, WM, HSII, KFY, JIVE, FTI, AMED, MDR, WFTHMG Strategy to host a summit
2013 Houston CIO Executive Leadership Summit is being held in Houston on February 6.
News For CAM;MDR;AMED;FTI;JIVE;KFY;HSII;WM;SYY;WFT From The Last 14 Days
Check below for free stories on CAM;MDR;AMED;FTI;JIVE;KFY;HSII;WM;SYY;WFT the last two weeks.
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August 19, 2014
17:23 EDTSYYSysco awarded $281.25M government contract
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08:10 EDTFTIFMC Technologies awarded order by Petrobras
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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.
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 14, 2014
17:41 EDTWFTPoint72 Asset Management gives quarterly update on stakes
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17:27 EDTWFTAppaloosa gives quarterly update on stakes
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14:13 EDTCAMOmega Advisors gives quarterly update on stakes
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August 11, 2014
16:14 EDTCAMOneSubsea, Helix, Schlumberger to form subsea well intervention alliance
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11:02 EDTSYYSysco continues to look at transactions
Says "fairly occupied" right now planning for U.S. Foods integration. Says will be "a little difficult" to do deals in the U.S. while it works to get U.S. Foods deal approved.
10:23 EDTSYYSysco says long-term sales growth guidance "reasonable"
Says guidance includes inflation, excludes U.S. Foods deal. Sees inflation returning to more modest historic levels. Comments made on the Q4 earnings conference call.
09:57 EDTSYYSysco sees long-term sales growth 4%-6% annually
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09:50 EDTSYYSysco sees U.S. Food merger closing in late Q3 or in Q4
Sysco said in slides that will be presented on its Q4 earnings conference call that FTC discussions continue to be productive. Remains on track to achieve Business Transformation financial target for FY15.
08:05 EDTSYYSysco reports Q4 adjusted EPS 50c, consensus 50c
Reports Q4 revenue $12.3B, consensus $12.14B.
06:57 EDTAMEDAvondale to hold a conference
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August 7, 2014
15:17 EDTSYYSysco August volatility elevated into Q4 and outlook
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15:01 EDTAMEDAmedisys management to meet with SunTrust
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13:14 EDTSYYSysco now sees US Foods merger closing late Q3 or during Q4
Sysco said earlier today that the FTC's review of the Sysco-US Foods proposed merger continues to proceed as expected. It is anticipated that the transaction will close either late in Q3 or during Q4 of this calendar year.

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