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News Breaks | | | | December 17, 2012 | | 12:10 EDT |  | CPWR, CLWR, CAB, CBOU, END, S | On The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after a new fiscal cliff proposal made by House Speaker Boehner was rejected, but the movement on some battleground issues was viewed as progress toward a compromise. The Washington Post reported over the weekend that Obama's administration rejected Boehner's offer, which included higher tax rates on millionaires and an increase in the debt ceiling, but the proposal was viewed as a "breakthrough" among Democrats. Headlines that more talks were held at the White House between the President and the Speaker sparked the averages to their highs... ECONOMIC EVENTS: In the U.S., a benchmark for New York state manufacturing, the New York Fed's Empire State Survey, came up negative for a fifth straight month. The December reading, which was forecast to move up to -1.0 from its prior -5.2 level, instead slid to -8.10. In Europe, data showed euro zone exports declined 1.4% in October from the prior month, as imports increased 0.6%. In Asia, Japan elected a new prime minister who has vowed to adopt a large stimulus package, cut interest rates and take other measures to revive growth in the nation's economy... COMPANY NEWS: Sprint (S) struck a deal to acquire the approximately 50% stake in Clearwire (CLWR) it does not already own for $2.97 per share, or $2.2B. Shares of the two companies moved in opposite directions after the announcement, with Sprint gaining about 0.25% and Clearwire declining almost 13%... MAJOR MOVERS: Among the notable gainers was Caribou Coffee (CBOU), which rose 30% after agreeing to be acquired by Germany's Joh. A. Benckiser for $16.00 per share in cash, or $340M. Also higher were shares of Compuware (CPWR), up about 15% after Elliott Management offered to acquire the company for $11.00 per share in cash, or $2.3B. Among the noteworthy losers was Endeavour (END), which fell almost 21% after research firm Global Hunter downgraded the stock to Accumulate from Buy and cut its price target on shares to $9 from $13. Also lower was Cabelas (CAB), which slipped about 5% as one of the gun retailers and gun makers seeing its stock move lower in response to intensified calls for gun control following Friday's tragedy in Connecticut... INDICES: Near noon, the Dow was up 76.32, or 0.58%, to 13,211.33; the Nasdaq was up 26.74, or 0.90%, to 2,998.07; and the S&P 500 was up 11.96, or 0.85%, to 1,425.54. | |
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News For CLWR;S;CBOU;CPWR;END;CAB From The Last 14 Days Check below for free stories on CLWR;S;CBOU;CPWR;END;CAB the last two weeks. |
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| May 17, 2013 | | 11:01 EDT |  | S | U.S. Cellular declares $5.75 per share special dividend
 Subscribe for More Information | | | 10:18 EDT |  | CPWR | Compuware June volatility increases into Q4 and outlook
Subscribe for More Information | | | 07:46 EDT |  | CLWR, S | Clearwire investors to force Sprint to up bid, Reuters reports
Subscribe for More Information | | | May 16, 2013 | | 19:11 EDT | | S | Dish sends letter to FCC over SoftBank, Sprint deal, Reuters says
Subscribe for More Information | | | May 15, 2013 | | 17:36 EDT | | S | Paulson gives quarterly update on stakes
Subscribe for More Information | | | May 14, 2013 | | 09:44 EDT | | S | Sprint says will launch BlackBerry Q10 in U.S. in late Summer
Subscribe for More Information | | | 08:31 EDT | | S | DISH announces $2.5B debt offering, to be used to partially fund Sprint bid
Subscribe for More Information | | | 05:44 EDT | | S | Banks work deals from both sides of the field, WSJ reports
Subscribe for More Information | | | May 13, 2013 | | 09:50 EDT | | S, CLWR | Clearwire sends letter urging stockholders to vote 'for' proposed Sprint transaction
Subscribe for More Information | | | 08:24 EDT | | S | Softbank pressuring potential Dish investment banks, FT reports
Subscribe for More Information | | | | May 11, 2013 | | 13:39 EDT | | S | Softbank says Dish-Sprint deal poor match, Bloomberg reports
The CEO of SoftBank (SFTBF) Masayoshi Son criticized the concept of Dish Network's (DISH) offer to buy Sprint Nextel (S), saying the satellite company would be a poor fit for a wireless carrier, while the synergies of a SoftBank-Sprint deal will result in significant cost savings. Reference Link | | | May 10, 2013 | | 17:16 EDT | | CLWR, S | Crest Financial takes first step to perfect appraisal rights of Clearwire shares
Crest Financial Limited, the largest of the independent, minority stockholders of Clearwire (CLWR), has told its brokerage firms to take all necessary steps to perfect Crest's rights under Section 262 of the Delaware General Corporation Law to seek appraisal for the common stock of Clearwire that it beneficially owns. The Delaware law permits Clearwire shareholders electing to exercise their appraisal rights to ask the Delaware Court of Chancery to determine the fair value of their Clearwire common stock if the Sprint (S)-Clearwire merger is consummated and certain other conditions are satisfied. The law states that a Clearwire stockholder that votes FOR the Sprint-Clearwire merger cannot elect to exercise its appraisal rights. Crest has long argued that the price Sprint Nextel is offering to pay Clearwire stockholders for their shares is highly inadequate, that the merger was structured in a way that unfairly disadvantages minority stockholders and that Clearwire would be better off if it remained a stand-alone company. Crest also commended Glass, Lewis & Co., a leading proxy advisory firm, for its recommendation urging that Clearwire stockholders vote against the proposed merger with Sprint. Crest said is strongly disagreed with the view of ISS that the Sprint-Clearwire merger should succeed. | | | 12:17 EDT | | CLWR, S | ISS recommends Clearwire holders vote 'FOR' proposed transaction with Sprint
Subscribe for More Information | | | 09:23 EDT | | S, CLWR | Sprint says ISS recommends Clearwire shareholders vote in favor of merger
Subscribe for More Information | | | 07:09 EDT | | S | Dish gets Jefferies Group financing in Sprint bid, Bloomberg reports
Subscribe for More Information | | | 07:08 EDT | | S | ESPN considers subsidizing wireless data plans, WSJ reports
Subscribe for More Information | | | 06:10 EDT | | S | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | May 9, 2013 | | 18:12 EDT | | CLWR, S | Softbank CEO says Sprint takeover to offer pricing advantage, WSJ reports
In an interview with The Wall Street Journal, Softbank (SFTBF) CEO Masayoshi Son said the proposed takeover of Sprint (S) will allow the combined company to bring a pricing advantage to the U.S. wireless market. The report also says Son has assured regulators networking equipment from Huawei Technologies would be removed from Clearwire's (CLWR) network as a condition for getting approval. Reference Link | | | 15:09 EDT | | S, CLWR | Softbank CEO says Sprint wouldn't allow Clearwire bankruptcy filing, DJ reports
Subscribe for More Information | | | 14:06 EDT | | S, CLWR | Crest Financial issues statement urging Clearwire holders vote against merger
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