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Stock Market & Financial Investment News

News Breaks
December 3, 2012
17:30 EDTDY, PWRDycom sees Quanta Services acquisitions accretive to revenue, EPS in 2013
Dycom Industries (DY) announced that it has completed its acquisition of the telecommunications infrastructure services subsidiaries of Quanta Services (PWR) for $275M in cash plus an adjustment estimated to be $25M-$40M for working capital and other specified items. The acquired subsidiaries are currently expected to produce calendar year 2013 revenues ranging from $400M-$450M. Excluding one-time transaction and integration costs of approximately $12M-$15M, the acquisition is currently expected to produce 5c-10c per share of earnings accretion next calendar year, inclusive of interest expense associated with the acquisition financings and non-cash amortization expense.
News For DY;PWR From The Last 14 Days
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March 27, 2015
08:31 EDTPWRQuanta Services selected by SemGroup for Maurepas Pipelines Project
Quanta Services announced that Maurepas Pipeline, a subsidiary of SemGroup, selected Quanta Services for the Maurepas Pipelines Project. Quanta subsidiaries, including Price Gregory International, QPS Engineering and Quanta Capital Solutions, assisted with the development of the project for SemGroup and will provide engineering, procurement and construction services. Engineering, permitting, right of way acquisition and materials procurement has commenced. Construction is expected to begin in the third quarter of 2015 and completion is expected in the third quarter of 2016.
March 25, 2015
10:04 EDTPWRBB&T to hold a conference
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March 23, 2015
08:06 EDTDYDycom price target raised to $65 from $55 at FBR Capital
FBR Capital raised its price target for Dycom to $65 saying the FCC's Connect America Fund is an upcoming catalyst that is not yet appreciated. FBR expects the FCC over the next few months to begin shifting $9B over five years from rural subsidies in the Universal Services Fund to the Connect America Fund and its awardees. It believes the Phase II of the fund could add organic revenue growth to Dycom of approximately 5% per year starting in 2016 and develop into a multi-hundred-million-dollar opportunity annually through 2020. It keeps an Outperform rating on the stock.

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