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Stock Market & Financial Investment News

News Breaks
November 26, 2012
18:09 EDTEQR, AVBLehman to sell Archstone to Equity Residential and Avalon Bay for $6.5B
Lehman Brothers Holdings, LBHI, announced that it has entered into a definitive agreement to sell full ownership of Archstone Enterprise to Equity Residential (EQR) and AvalonBay Communities (AVB) for cash and stock with an aggregate value of approximately $6.5B. LBHI and its affiliates including Lehman Commercial Paper Inc. will receive $2.685 billion in cash as well as 34,468,085 shares of EQR common stock and 14,889,706 shares of AVB common stock which, on a combined basis and using last Friday’s closing prices, have a value of approximately $3.8 billion. As a result, LBHI and its affiliates will own 9.8% of EQR and 13.2% of AVB based on the shares of each issued as consideration. The purchasers have up to 120 days to close the transaction; the transaction is not subject to a vote of the shareholders of either EQR or AVB and does not have any financing contingencies.
News For EQR;AVB From The Last 14 Days
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August 19, 2014
07:56 EDTAVBAvalonBay price target raised to $166 from $150 at Cowen
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August 18, 2014
10:01 EDTEQROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Buy from Hold at Deutsche Bank... CNOOC (CEO) upgraded to Neutral from Underperform at Credit Suisse... Dollar General (DG) upgraded to Buy from Neutral at Sterne Agee... Equity Residential (EQR) upgraded to Hold from Underperform at Jefferies... HMS Holdings (HMSY) upgraded to Overweight from Equal Weight at First Analysis... HP (HPQ) upgraded to Buy from Neutral at Monness Crespi... Halcon Resources (HK) upgraded to Buy from Hold at MLV & Co.... KapStone (KS) upgraded to Buy from Hold at Deutsche Bank... Sportsman's Warehouse (SPWH) upgraded at RW Baird... Westlake Chemical (WLK) upgraded to Neutral from Reduce at SunTrust... WisdomTree (WETF) upgraded to Neutral from Sell at Citigroup... Zimmer (ZMH) upgraded to Outperform from Market Perform at William Blair.
05:29 EDTEQREquity Residential upgraded to Hold from Underperform at Jefferies
Jefferies upgraded Equity Residential to Hold with a $62 price target.

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