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Stock Market & Financial Investment News

News Breaks
December 20, 2012
10:11 EDTTGT, GBX, PRE, MKL, RIMM, SD, NEWS, BBBY, AVB, SLGN, ENHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Endurance Specialty (ENH) downgraded to Neutral from Overweight at JPMorgan... NewStar Financial (NEWS) downgraded to Sell from Neutral at Janney Capital... PartnerRe (PRE) downgraded to Underweight from Neutral at JPMorgan... Silgan Holdings (SLGN) downgraded to Sell from Neutral at Goldman... SandRidge Energy (SD) downgraded to Hold from Buy at KeyBanc... Greenbrier (GBX) downgraded to Market Perform from Strong Buy at Raymond James... Arris (AVB) downgraded to Hold from Buy at Jefferies... Markel (MKL) downgraded to Hold from Buy at Stifel Nicolaus... AvalonBay (AVB) downgraded to Hold from Buy at Stifel Nicolaus... Research in Motion (RIMM) downgraded to Hold from Buy at Hudson Square... Amicus Theraputics (FOLD) downgraded to Hold from Buy at Capstone... Target (TGT) downgraded to Neutral from Buy at Cleveland Research... Bed Bath & Beyond (BBBY) downgraded to Neutral from Buy at BofA/Merrill.
News For ENH;NEWS;PRE;SLGN;SD;GBX;AVB;RIMM;TGT;BBBY;MKL From The Last 14 Days
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June 23, 2015
14:04 EDTBBBYBed Bath & Beyond could be attractive buyout target, WSJ says
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10:08 EDTPREPartnerRe 'corrects' EXOR's 'misleading' press release on preferred shares
PartnerRe Ltd. (PRE) corrected "recent misleading statements made by EXOR regarding PartnerRe’s ratings in the event of a sale to EXOR. EXOR’s June 16 release implies that EXOR had received official guidance from Standard and Poor’s on the ratings of PartnerRe under potential EXOR ownership. PartnerRe believes it is imperative to make clear the following facts: S&P has not taken a view nor has it made any public statements regarding the credit or financial strength ratings of PartnerRe in the event of an EXOR acquisition. EXOR’s statements with regard to PartnerRe’s potential credit ratings are misleading, and do not reflect the views of S&P or S&P’s analyst for PartnerRe. PartnerRe does not anticipate that S&P will comment on the potential rating implications of a hypothetical EXOR acquisition of PartnerRe unless and until a definitive merger agreement is in place. Unlike common shareholders, perpetual preferred shareholders and creditors would retain a continuing interest in PartnerRe post-acquisition by EXOR. Preferred shares would be a fundamentally different security if PartnerRe were owned by EXOR vs. merged with AXIS (AXS). Notwithstanding EXOR’s assertions, PartnerRe’s credit standing and ratings will be impacted by developments at EXOR and vice versa. PartnerRe continues to believe that there is considerable downside risk involved in a sale to EXOR, on its current price and terms, especially for preferred shareholders."
08:28 EDTPREEXOR says offer for PartnerRe 'superior by all significant measures'
EXOR S.p.A., the largest shareholder of PartnerRe Ltd. (PRE), is entering the second week of meetings with PartnerRe analysts and investors to ensure the maximum clarity regarding its offer for PartnerRe shareholders. EXOR says it "has received a positive response for its offer and for the presentation of the merits, certainty and superiority of its $137.50 per share, all-cash binding offer. In the face of the compelling facts presented by EXOR, after having already disseminated false statements on the EXOR transaction not endorsed by Standard & Poor’s PartnerRe continues its irresponsible campaign of intentionally and inappropriately misleading its shareholders. The more the PartnerRe board misleads its shareholders on the merits of the EXOR offer the clearer it is that the inferior AXIS (AXS) transaction is short on substance and long on execution and integration risks for its shareholders, employees and clients. EXOR is soliciting common and preferred shareholders to vote AGAINST the proposed AXIS transaction at the upcoming Special General Meeting of PartnerRe shareholders to be held on July 24. This will enable PartnerRe to accept EXOR’s superior offer for the company."
06:57 EDTBBBYBed Bath and Beyond June volatility elevated into Q1 and outlook
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June 22, 2015
07:03 EDTPREPartnerRe files presentation detailing risks posed by EXOR's offer
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June 19, 2015
16:24 EDTTGTStocks end week higher after Fed reassures on gradual pace of rate increases
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09:26 EDTENHMontpelier Re declares specal dividend in connection with proposed acquisition
Montpelier Re Holdings Ltd. (MRH) announced that its Board of Directors has declared, subject to certain conditions, the previously announced special dividend of $9.89 per common share in connection with its pending acquisition by Endurance Specialty Holdings Ltd. (ENH) The special dividend would be payable prior to the effective time of the Merger on the closing date of the Merger to Montpelier shareholders of record at the close of business on the last business day prior to the Closing Date. The special dividend is contingent upon the satisfaction of various Merger closing conditions, including the approval of the Merger by the requisite vote of Montpelier common shareholders and the approval of the Endurance share issuance associated with the Merger by the requisite vote of Endurance ordinary shareholders. Montpelier and Endurance have each scheduled special general meetings of their respective shareholders for June 30 to consider and vote upon matters related to the Merger. There can be no assurance that the Closing Date will occur or that the special dividend will be paid.
06:14 EDTPREAxis, Arch Capital not in deal talks, Reuters reports
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June 18, 2015
07:41 EDTBBBYBed Bath and Beyond June weekly volatility elevated into Q1 and outlook
Bed Bath and Beyond June weekly call option implied volatility is at 48, July is at 31, August is at 24; compared to its 52-range average of 15 to 30, suggesting large near term price movement into the expected release of Q1 result son June 24.
07:15 EDTPREArch Capital may bid as much as $65 per share for AXIS Capital, FT says
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07:10 EDTPREPartnerRe: Recommendation of AXIS deal result of 'rigorous, objective' process
PartnerRe (PRE) has made available a presentation on its website and on www.partnerre-valuecreation.com that the company says provides a "thorough overview of the rigorous and objective process its Board of Directors undertook over the past two years to achieve the best possible outcome for shareholders. The PartnerRe Board has acted – and continues to act – in the best interests of the company and its shareholders, and the merger of equals with AXIS Capital (AXS) is the result of a thorough exploration of strategic opportunities." PartnerRe added: "EXOR has made various deceptive assertions in a transparent effort to distract shareholders from the inadequacy of its opportunistic offer for PartnerRe relative to the merits of the AXIS Capital transaction. The merger of equals with AXIS Capital delivers PartnerRe shareholders superior value and a clear path to closing, and is the result of a high quality governance process...The PartnerRe Board of Directors continues to urge its shareholders of both common and preferred shares to promptly use the white proxy card to vote for the Amalgamation Agreement with AXIS Capital at the shareholder meeting on July 24."
June 17, 2015
18:14 EDTTGTTarget to eliminate jobs at its corporate headquarters, AP says
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11:08 EDTGBXOptions with increasing implied volatility
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07:52 EDTPREAXIS Capital downgraded on valuation at BMO Capital
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07:02 EDTPREPartnerRe urges shareholders to vote for merger with AXIS Capital
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June 16, 2015
19:25 EDTTGTWal-Mart ranks high among millenials, Ad Age says
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10:01 EDTGBXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded to Hold from Buy at Deutsche Bank... Alumina (AWCMY) downgraded to Neutral from Outperform at Credit Suisse... Avalanche Biotechnologies (AAVL) downgraded on lack of catalysts at SunTrust... DealerTrack (TRAK) downgraded to Hold from Buy at Craig-Hallum... Greenbrier (GBX) downgraded to Hold from Buy at Stifel... Methode Electronics (MEI) downgraded to Neutral at Baird... Profire Energy (PFIE) downgraded to Hold from Buy at Maxim... Standard Pacific (SPF) downgraded to Neutral from Outperform at Credit Suisse... The Fresh Market (TFM) downgraded to Sell from Neutral at Northcoast... Twitter (TWTR) downgraded to Neutral at MKM Partners on stalled user growth... United Natural Foods (UNFI) downgraded to Hold from Buy at Argus... United Rentals (URI) downgraded to Underperform from Neutral at Macquarie.
08:41 EDTTGTCVS Health deal 'extremely attractive,' says SunTrust
After CVS Health (CVS) agreed to buy Target's (TGT) pharmacies/clinics, SunTrust says that CVS.will benefit strategically and financially from the deal. The firm believes that the deal is capital efficient, provides CVS with an immediate and noticeable presence in several key markets and further rounds out CVS' presence in other geographies. It keeps a Buy rating on the stock.
07:57 EDTGBXGreenbrier downgraded on negative industry outlook at Stifel
As noted earlier, Stifel downgraded Greenbrier to Hold from Buy. The firm downgraded the stock based on its belief that railcar orders will slow after this year.
06:19 EDTGBXGreenbrier downgraded to Hold from Buy at Stifel
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