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Stock Market & Financial Investment News

News Breaks
November 12, 2012
16:16 EDTCTPCTPartners sees Q4 EPS (1c)-2c, consensus 3c
Sees Q4 revenue $30.5M-$31.5M, consensus $31.1M.
News For CTP From The Last 14 Days
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May 21, 2015
09:28 EDTCTPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Quality Systems (QSII), up 9.5%... Trina Solar (TSL), up 7.1%... Best Buy (BBY), up 7.5%... Kirkland's (KIRK), up 4.3% after reporting quarterly results, guidance, and announcing a $1.50 per share special dividend... Williams-Sonoma (WSM), up 3.8%... salesforce.com (CRM), up 4.8%... Youku Tudou (YOKU), up 1.2%. ALSO HIGHER: CTPartners (CTP), up 30.7% after agreeing to exclusive negotiations to be acquired by DHR International... Omnicare (OCR), up 1.3% after CVS Health (CVS) agrees to acquire the company for $98.00 per share, CVS Health is up 1%... Telenav (TNAV), up 3.3% after being initiated with an Outperform at Northland. DOWN AFTER EARNINGS: NetApp (NTAP), down 11.7%... Rexnord (RXN), down 9.9%... Dollar Tree (DLTR), down 2%. ALSO LOWER: Wave Systems (WAVX), down 22.9% after 7.3M share Spot Secondary priced at 65c... Lumber Liquidators (LL), down 16.5% after CEO resigns... Dicerna Pharmaceuticals (DRNA), down 5.8% after 2.75M share Secondary priced at $17.75.
May 20, 2015
19:02 EDTCTPOn The Fly: After Hours Movers
UP AFTER EARNINGS: salesforce.com (CRM), up 6.6%... Williams-Sonoma (WSM), up 4%. ALSO HIGHER: CTPartners (CTP), up 42% after agreeing to exclusive negotiations to be acquired by DHR International. DOWN AFTER EARNINGS: Xunlei (XNET), down 14.9%... NetApp (NTAP), down 8%... Open Text (OTEX), down 7.7%.... Rexnord (RXN), down 7.1%... Synopsys (SNPS), down 1.5%... Youku Tudou (YOKU), down 1.2%. ALSO LOWER: Wave Systems (WAVX), down 8.5% after filing to sell Class A common stock and warrants... OXiGENE (OXGN), down 5.1% after filing mixed securities shelf.
17:23 EDTCTPCTPartners agrees to exclusive negotiations to be acquired by DHR International
CTPartners Executive Search announced that pursuant to its previously announced strategic alternatives process, the company has received a non-binding indication of interest from DHR International to acquire the company. The special committee of the company’s board of directors, which was formed to evaluate the company’s strategic alternatives, has agreed to negotiate exclusively with DHR for a limited period of time in an effort to reach a definitive agreement. Pricing and other terms have not been disclosed, but the indicated preliminary price range set forth in the indication of interest submitted by DHR International is below the $7.00 per share DHR previously proposed to pay in a February 5 letter to the CTP board of directors. All terms of any definitive agreement, including price, will be subject to completion of confirmatory due diligence to the satisfaction of DHR and negotiation between the parties. There is no assurance that the parties will enter into a binding acquisition agreement consistent with the indication of interest, or on any other terms. The company also disclosed in its Form 10-Q for the quarter ended March 31, that it has received a limited duration waiver from its lenders relating to CTP’s non-compliance with a covenant included in both its term credit facility and note purchase agreement requiring the revenue generated by departing search executives not exceed specified levels. The lenders have agreed to forbear from enforcing their remedies in connection with this non-compliance until August 31, so long as certain milestones in connection with the proposed sale of the company are met. In addition, the credit facility has been reduced from $20M to $15.5M and the interest rate increased by 25 basis points, resulting in a current rate of approximately 3.18% per annum. Also, the notes purchaser is not expected to purchase a second tranche of $6.25M principal amount of notes, which had been scheduled to occur after June 30.

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