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Stock Market & Financial Investment News

News Breaks
February 17, 2014
18:10 EDTDRCDresser-Rand announces plans to suspend operations at facilities in Spain
Dresser-Rand announced that it is planning to suspend operations at its pig manure treatment facilities in Spain as a result of the potential implementation of a new Spanish regulation that, if adopted, would significantly reduce beneficial tariffs for its plants in Spain. It stated, "In view of the pending change in the tariffs, the Company has decided to suspend the operations at its six facilities, although discussions with the Spanish government are ongoing." If the draft regulation is enacted as proposed, or in the event of no material change in the status of the proposed regulation before the company files its 2013 Form 10-K, the company would be required under U.S. GAAP to reduce 2013 operating income by approximately $25M due to the retroactive reduction of the tariffs and up to approximately $50M due to asset impairments. Without taking into account the possible impact of the proposed regulation, 2013 revenues and operating income associated with the six facilities is estimated to be approximately $138M and $5.7M, respectively.
News For DRC From The Last 14 Days
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July 18, 2014
09:14 EDTDRCGE says not done with divestitures, likes current Oil & Gas portfolio
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July 17, 2014
16:52 EDTDRCOn The Fly: Closing Wrap
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14:09 EDTDRCDresser-Rand takeover unlikely, sayd Raymond James
Raymond James said a takeover of Dresser-Rand is unlikely unless the stock price is meaningfully higher.
13:18 EDTDRCOn The Fly: Midday Wrap
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09:15 EDTDRCOn The Fly: Pre-market Movers
HIGHER: Dresser-Rand (DRC), up 15.5% after Manager Magazin says Siemens (SIEGY) preparing bid for the company. Other oil equipment companies with a market cap similar to Dresser-Rand's include Dril-Quip (DRQ) and Oil States (OIS)... Microsoft (MSFT), up 3.4% after announcing restructuring, including plans to cut up to 18K jobs. UP AFTER EARNINGS: Morgan Stanley (MS) up 1.5%... Sherwin-Williams (SHW), up 3%. DOWN AFTER EARNINGS: Mattel (MAT), down 7.3%... Sandisk (SNDK), down 7%... Yum! Brands (YUM), down 2.5%. LOWER: Orbitz (OWW), down 3% after results, 34M share spot secondary offering of stock priced at $8.25... Benefitfocus (BNFT), down 1% after 2.5M share Secondary priced at $38.50.
07:08 EDTDRCDresser-Rand volatility expected to move on Siemens preparing bid report
Dresser-Rand (DRC) volatility is expected to move Siemens (SIEGY) is working with Lazard on a takeover bid for Dresser-Rand (DRC), Germany's Manager Magazin reports, citing sources. Overall option implied volatility of 25 is at its 26-week average according to Track Data, suggesting non-directional price movement.
06:17 EDTDRCSiemens preparing bid for Dresser-Rand, Manager Magazin says
Siemens (SIEGY) is working with Lazard on a takeover bid for Dresser-Rand (DRC), Germany's Manager Magazin reports, citing sources close to Siemens. The German multinational would consider a hostile approach should Dresser-Rand rebuff its advances, the report adds. Shares Dresser-Rand, which manufactures a wide variety of products for use in the oil, gas, and process industries, closed yesterday up 12c to $60.42. The company has a market capitalization of $4.62B. Reference Link
July 16, 2014
10:00 EDTDRCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Airlines (AAL) initiated with an Overweight at Atlantic Equities... Apple (AAPL) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Neutral at RW Baird... Brookdale Senior Living (BKD) initiated with a Buy at Goldman... CA Technologies (CA) initiated with a Market Perform at FBR Capital... Dresser-Rand (DRC) initiated with a Neutral at RW Baird... Fortinet (FTNT) initiated with a Neutral at Goldman... Frank's International (FI) initiated with a Hold at Jefferies... Home Bancorp (HBCP) initiated with an Outperform at Fig Partners... Key Energy (KEG) initiated with an Outperform at RW Baird... McDermott (MDR) initiated with a Neutral at Tigress Financial... ORBCOMM (ORBC) initiated with a Neutral at Macquarie... Oil States (OIS) initiated with an Outperform at RW Baird... PBF Energy (PBF) initiated with an Equal Weight at Barclays... Palo Alto (PANW) assumed with a Conviction Buy at Goldman... Proofpoint (PFPT) initiated with a Buy at Goldman... Qlik Technologies (QLIK) initiated with a Market Perform at FBR Capital... Radius Health (RDUS) initiated with a Buy at Canaccord... Seventy Seven Energy (SSE) initiated with a Hold at Jefferies... Superior Energy (SPN) initiated with an Outperform at RW Baird... Tandem Diabetes (TNDM) initiated with an Outperform at William Blair... Trecora Resources (TREC) initiated with a Buy at B. Riley... Ultragenyx (RARE) initiated with an Outperform at RW Baird... United Natural Foods (UNFI) initiated with an Outperform at Oppenheimer... Viper Energy (VNOM) initiated with a Market Perform at Northland... Whiting Petroleum (WLL) initiated with a Buy at Tigress Financial.
July 15, 2014
16:08 EDTDRCDresser-Rand initiated with a Neutral at RW Baird
Target $66.

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