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Stock Market & Financial Investment News

News Breaks
March 31, 2014
11:41 EDTDDD3D Systems CFO to transition to new M&A role
3D Systems (DDD) announced that its CFO, Damon Gregoire, would step down from that position and will then retire at the end of next year. WHAT'S NEW: In a regulatory filing released today, 3D Systems, which develops 3D printers, announced that Gregoire would resign as CFO and become the company's Executive Vice President of Mergers & Acquisitions. Gregoire will transition to the new position when a new CFO is hired, the company stated. Gregoire will serve in the new role through December 31, 2015, when he will retire, 3D Systems added. ANALYST REACTION: In a note to investors earlier today, Brean Capital analyst Ananda Baruah wrote that Gregoire is making the change "for purely personal reasons." The analyst reached this conclusion after speaking with 3D Systems. The change should help 3D Systems, as the new CFO is likely to be a strong executive who can offer a fresh perspective to the company, Baruah contended. The analyst remains upbeat on the stock and kept an $84 price target and Buy rating on the shares. PRICE ACTION: In late morning trading, 3D Systems rose 73c, or 1.3%, to $59.85.
News For DDD From The Last 14 Days
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November 24, 2014
16:34 EDTDDDOn The Fly: Closing Wrap
Stocks on Wall Street opened in quiet fashion and trading remained that way throughout the day. The Dow and S&P moved in a narrow range and hugged the flat line, while the Nasdaq drifted steadily higher and added nearly 1% by the close of trade. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index fell to 0.14 in October, versus expectations for a reading of 0.33. Markit's services PMI fell to 56.3 in the flash reading for November, versus expectations for a slight increase to 57.3 from its prior reading of 57.1. The Dallas Fed manufacturing index was steady at 10.5 in November, versus expectations for a 9.0 reading. Overseas, the euro area’s largest economy, Germany, saw a business climate index advance to 104.7 in November from 103.2 in October, beating economists' prediction for a decline to a reading of 103. COMPANY NEWS: Apple (AAPL) had a role in the Nasdaq's outperformance, as the tech giant climbed after a number of research firms, including Susquehanna, Cantor and KGI Research, were upbeat on the outlook for the company's performance during the holiday season. The iPhone maker's stock rose $2.15, or 1.85%, to close at $118.62 to close just below the 52-week high of $118.77 it hit late in the session... United Technologies (UTX) fell $1.51, or 1.37%, to $108.79 after the Dow member announced that Louis Chenevert had retired as Chairman and CEO, effective immediately. The company reaffirmed its expectations for 2014 earnings per share and sales, but provided little information regarding the abrupt exit of the executive. MAJOR MOVERS: Among the notable gainers was Prosensa (RNA), which surged $7.16, or 62.59%, to $18.60 after the small drugmaker agreed to be acquired by larger BioMarin (BMRN). After the deal announcement BioMarin shares also rose $2.11, or 2.46%, to $87.94, while Sarepta Therapeutics (SRPT), which is working on a Duchenne muscular dystrophy treatment to rival Prosensa's, advanced 88c, or 5.59%, to $16.61. Also higher was Cimatron (CIMT), which jumped $2.57, or 42.27%, to $8.65 after 3D Systems (DDD) agreed to buy the company for approximately $97M, or $8.97 per share, in cash. Among the noteworthy losers was Ring Energy (REI), which fell $1.28, or 9.54%, to $12.14 after Canaccord downgraded the stock to Hold from Buy, citing the the recent decline in crude oil prices and the potential need for the company to raise capital. Also lower were shares of Potash (POT), which fell $2.23, or 6.09%, to $34.40, and Mosaic (MOS), which slid $1.75, or 3.71%, to $45.46 after Russia's Uralkali, the world's largest potash producer, was reported to be set to start repair work at part of its damaged mine. INDEXES: The Dow added 7.84, or 0.04%, to 17,817.90, the Nasdaq rose 41.92, or 0.89%, to 4,754.89, and the S&P 500 gained 5.91, or 0.29%, to 2,069.41.
12:59 EDTDDDOn The Fly: Midday Wrap
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09:23 EDTDDDOn The Fly: Pre-market Movers
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05:34 EDTDDD3D Systems to acquire Cimatron for $8.97 per share
3D Systems (DDD) and Cimatron (CIMT) announced a definitive agreement under which 3DS will acquire all of the outstanding shares of Cimatron for $8.97 per share in cash, subject to certain adjustments for Cimatron transaction expenses, for a total of approximately $97M, inclusive of its net cash. The boards of both companies have unanimously approved the proposed transaction. The companies expect the transaction to close in 1Q15.
November 23, 2014
14:29 EDTDDD3D printing draws regulatory scrutiny as its applications spread, FT says
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November 20, 2014
12:00 EDTDDDAnalyst sees new competition shaking up 3D printing market
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07:33 EDTDDD3D Systems likely to lower prices amid new competition, says Jefferies
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November 17, 2014
13:12 EDTDDD3D Systems rises after insider buy, Voxeljet slips after downgrade
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09:57 EDTDDD3D Systems up 3.5% in early trading following Chairman stock purchase
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November 14, 2014
10:10 EDTDDDOptions with decreasing implied volatility
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