New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 5, 2012
07:08 EDTDOVDover announces intention to divest certain non-core businesses
Dover announced that, consistent with its long-term focus on strengthening its portfolio, it intends to divest certain non-core businesses which serve the electronic assembly and test markets. The company will provide updates on the progress of these planned divestitures as appropriate. CEO Robert A. Livingston commented: "We plan to divest certain businesses outside our five key growth spaces, which will allow us to continue to focus on Energy, Refrigeration and Food Equipment, Communication Components, Product Identification, and Fluids. In addition, our acquisition pipeline remains robust, and we expect to close a couple of opportunities before year end. Taken together, these initiatives demonstrate the conviction we have in our strategy, the long-term prospects of our five growth spaces and our commitment to creating shareholder value."
News For DOV From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 2, 2016
11:17 EDTDOVFitch affirms Dover at A; outlook revised to negative
Fitch Ratings has affirmed Dover Corporation's long-term Issuer Default Rating at 'A' and short-term IDR at 'F1' and revised the Rating Outlook to Negative from Stable. Dover had $2.8B of debt outstanding as of Dec. 31, 2015. The Negative Outlook reflects Dover's soft operating results and weaker credit metrics, which Fitch expects will persist through 2016 and into 2017. Dover's revenues declined 10% in 2015, due primarily to weak results in its energy segment, which realized a 26.4% decline in revenues and a 62.5% drop in operating earnings. This segment, which generated 16.8% of Dover's operating profits in 2015 has been negatively affected by the sharp drop in North American upstream oil and gas markets. Fitch expects oil and gas drilling and production will remain depressed in the first half of 2016 before reaching bottom and beginning a gradual recovery.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use