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Stock Market & Financial Investment News

News Breaks
November 30, 2012
11:31 EDTDOVDover acquires Anthony International for $602.5M
Dover Corporation announced that it has acquired Anthony International, a manufacturer of specialty glass, commercial glass refrigerator and freezer doors, lighting systems, and display equipment for $602.5M, subject to normal closing adjustments. Anthony will join the Refrigeration and Industrial platform of Dover's Engineered Systems segment. Anthony's 2012 revenue is estimated to be approximately $310M. Dover expects this acquisition to be 2c dilutive to 2012 continuing earnings per share due to integration and acquisition related costs. In 2013, Anthony will be modestly accretive to continuing earnings per share, Dover said.
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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.
January 26, 2016
07:03 EDTDOVDover backs FY16 EPS view of $3.85-$4.05
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07:01 EDTDOVDover reports Q4 EPS 81c, consensus 94c
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