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Stock Market & Financial Investment News

News Breaks
July 30, 2014
17:25 EDTDOVDover acquires WellMark
Dover announced that its energy segment has acquired The WellMark Company headquartered in Oklahoma City, Oklahoma. WellMark is a leading manufacturer of valves, instrumentation and chemical injection pumps serving the oil and gas industry. The company also announced that WellMark will be merged with Norriseal, a long standing business within the Energy segment. WellMark expects to generate revenue of approximately $55M in 2014. Terms of the transaction were not disclosed.
News For DOV From The Last 14 Days
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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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