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Stock Market & Financial Investment News

News Breaks
February 15, 2013
10:12 EDTXPO, PH, LGP, YNDX, NEPT, GRMN, ABT, TGI, EMR, CTCMOn the Fly: Analyst Initiation Summary
Today’s noteworthy initiations include: CTC Media (CTCM) initiated with an Underweight at Barclays... Emerson (EMR) initiated with an Outperform at RBC Capital... Garmin (GRMN) initiated with an Outperform at William Blair... Lehigh Gas (LGP) initiated with a Perform at Oppenheimer... Neptune Technologies (NEPT) initiated with an Outperform at JMP Securities... Parker-Hannifin (PH) initiated with a Sector Perform at RBC Capital... Triumph Group (TGI) initiated with an Outperform at Wells Fargo... Yandex (YNDX) initiated with an Overweight at Barclays... XPO Logistics (XPO) initiated with a Buy at Sidoti... Abbott (ABT) initiated with a Buy at Stifel Nicolaus.
News For CTCM;GRMN;LGP;EMR;NEPT;PH;TGI;YNDX;XPO;ABT From The Last 14 Days
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July 6, 2015
05:18 EDTCTCMCTC Media receives offer for 75% of operating assets, forms special committee
CTC Media announced developments in connection with its response to the amendment to the Russian law “On Mass Media”, which will impose further restrictions on non-Russian ownership of Russian television companies beginning January 1, 2016. The company has received a formal, non-binding offer from UTH Russia, a privately held Russian commercial television broadcasting group, for the purchase of a 75% interest in the company’s Russian business operations. The CTC Media board has appointed a Special Committee composed of independent directors to review and evaluate this offer. The board and the Special Committee have each reviewed the offer and believe that it is appropriate to seek to negotiate the final terms and definitive documentation in respect of the proposed transaction. The Special Committee has agreed to grant a period of exclusivity to UTH, during which the parties will seek to agree the definitive terms of the transaction. If ultimately recommended by the Special Committee and approved by the board, the transaction would be submitted to the company’s stockholders for approval. Pursuant to the non-binding offer, UTH would acquire a 75% interest in the company’s operating businesses, on a cash- and debt-free basis, for $200M in cash. Following this transaction, the direct and indirect ownership of the group’s operating businesses in Russia would comply with the Russian law requirement that at least 80% of the ultimate beneficial ownership and control of the businesses is held by Russians by the stated deadline of January 1, 2016. If the transaction is consummated, it is the board’s intention to return value to the company’s stockholders, and the board is exploring the most efficient manner of doing so. Subject to the final terms of the deal, the business’s cash requirements, the transaction expenses incurred and the tax to be paid, the Board currently anticipates that the funds that would be available pro rata to the company’s public stockholders and its largest stockholder would be expected to represent a modest premium to the closing price of the company’s common stock on the Nasdaq Global Select Market on July 2. The company will continue to comply with applicable international economic sanctions with respect to Telcrest Investments Limited, a holder of 25% of the company’s common stock that is subject to U.S. sanctions.
June 30, 2015
09:26 EDTEMROn The Fly: Pre-market Movers
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08:08 EDTXPOXPO Logistics coverage resumed with an Overweight at Morgan Stanley
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07:22 EDTEMREmerson Electric volatility low into plans to spin off Network Power unit
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06:38 EDTEMREmerson to host investor conference call
Conference call to discuss portfolio repositioning will be held on June 30 at 9 am. Webcast Link
06:01 EDTEMREmerson plans to spin off Network Power business, explore strategic actions
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June 29, 2015
10:11 EDTEMREmerson to buy Spectronix Ltd. for nearly $100M, Globes reports
Emerson Electric is set to buy Spectronix Ltd., an Israeli company which develops fire detection systems, for $99M, Globes reports. The purchase price consists of $79M in cash and $20M that will be distributed to investors as a dividend. Reference Link
June 26, 2015
17:53 EDTXPOXPO Logistics says ND is subject of ongoing investigation by French regulators
XPO Logistics said in a regulatory filing that ND or Norbert Dentressangle is subject to an ongoing investigation by the French Competition Authority. On June 8, XPO Logistics announced that it has consummated the previously announced agreement to purchase all of the shares of Norbert Dentressangle held by Mr. Norbert Dentressangle and his family, representing 67% of the company's outstanding shares, at a price of 217.50 euros per share. XPO continued in a filing: "In July 2014, ND Distribution received notification from the French antitrust authorities relating to alleged anti-competitive practices of companies in the parcel express delivery business. Most French companies participating in this market also received complaints covering several prior years. The investigation focuses on the role played by an industry syndicate, in which the participants are said to have exploited the syndicate’s “Pooling Business Advisory” meetings so as to align their sales practices and, in particular, prices. The French antitrust authorities are reviewing the period from June 2007 to March 2008, which straddles the period during which ND completed its indirect takeover of ND Distribution. ND expects that a hearing may be held late in 2015 or early in 2016. Additionally, ND is involved in certain proceedings in the Valence Criminal Court regarding a two-year preliminary enquiry into the way ND organizes international transport sub-contracting operations. No provision has been made in ND’s financial statements regarding either investigation, and while ND disputes the claims against it, any adverse findings or decisions arising out of such investigation could have a material adverse impact on ND’s business and financial condition. "
09:46 EDTEMREmerson estimates lowered on negative May orders at Morgan Stanley
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07:01 EDTGRMNGarmin introduces Rino 650t two-way radio handheld
Garmin International announced a new model of rugged two-way radio handhelds, the Rino 650t. Boasting a built-in 5-watt FRS/GMRS radio for a communication range of up to 20 miles, the Rino 650t comes preloaded with detailed TOPO U.S. 100K maps and a one-year subscription to BirdsEye Satellite imagery. Like previous Rino models, the new 650t features a 2.6” glove-friendly color display and a full navigational toolset with high-sensitivity GPS, barometric altimeter, 3-axis electronic compass and NOAA weather radio.
June 25, 2015
12:52 EDTABTEU to decide by July 29 on Mylan's bid for Perrigo, Reuters reports
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June 22, 2015
08:17 EDTEMRMcKesson appoints Kathy McElliogott as EVP, CIO, CTO
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