New User:

-or-
Username:
Password:
Forgot your password?

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
Check below for free stories on DRC the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 19, 2014
07:43 EDTDRCDresser-Rand volatility expected to move on Siemens is preparing offer report
Dresser-Rand (DRC) volatility is expected to move on Siemens (SIEGY) is preparing to offer more than $6.5B, or at least $85 per share, Bloomberg reports, citing people familiar with the plan. Overall option implied volatility of 38 compares to its 26-week average of 31 according to Track Data, suggesting large price movement.
06:44 EDTDRCSiemens preparing at least $85/share bid for Dresser-Rand, Bloomberg says
Siemens (SIEGY) is preparing to offer more than $6.5B, or at least $85 per share, for Dresser-Rand (DRC), Bloomberg reports, citing people familiar with the plan. Siemens is looking to offer a competing bid to Sulzer's for Dresser-Rand. Germany's Sulzer confirmed it was in takeover talks with Dresser-Rand on Wednesday. Siemensís supervisory board could vote on whether to submit a formal bid at a September 24 meeting, Bloomberg added, citing a source. Shares of Dresser-Rand closed yesterday up 22c to $73.03. Analysts at William Blair yesterday said the company could be worth in the upper $80's to $100 per share in a takeover.
06:35 EDTDRCReport says Siemens planning Dresser-Rand bid, Reuters says
Subscribe for More Information
September 18, 2014
07:16 EDTDRCDresser-Rand could be worth upper $80s to $100 in deal, says William Blair
William Blair raised its price target for Dresser-Rand shares to $82 from $70 citing increasingly likelihood of a merger transaction after Sulzer confirmed itís in talks to acquire the company. The firm believes a deal, should it occur, could bring upside to its new target. William Blair says its initial accretion analysis for a combined Dresser-Rand and Sulzer yields valuations for Dresser shares in the upper $80's to $100 range. It keeps an Outperform rating on the stock. Dresser closed yesterday up 7%, or $4.93, to $72.81.
September 17, 2014
11:28 EDTDRCSulzer confirms talks with Dresser-Rand over potential merger
Subscribe for More Information
11:26 EDTDRCSulzer confirms talks with Dresser-Rand over potential merger
11:19 EDTDRCDresser-Rand, Sulzer said to plan merger, Bloomberg reports
Subscribe for More Information
September 16, 2014
16:28 EDTDRCDresser-Rand initiated with a Buy at KeyBanc
Target $80.

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