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Stock Market & Financial Investment News

News Breaks
February 19, 2014
06:33 EDTDRCDresser-Rand downgraded to Market Perform from Outperform at Raymond James
Raymond James downgraded Dresser-Rand following the Q4 pre-announcement and lower than expected 2014 guidance. Note that Morgan Stanley also downgraded shares this morning.
News For DRC From The Last 14 Days
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July 23, 2014
06:43 EDTDRCValueAct lowers stake in Dresser-Rand to 2.6% from 6.6%
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

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