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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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October 28, 2014
17:18 EDTEQREquity Residential increased FY14 adj. FFO view to $3.12-$3.14 from $3.08-$3.12
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17:15 EDTEQREquity Residential sees Q4 adj. FFO 81c-83c, consensus 82c
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17:14 EDTEQREquity Residential reports Q3 adj. FFO 82c, consensus 80c
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October 27, 2014
16:14 EDTAVBAvalonBay sees FY14 core FFO $6.78-$6.84, consensus $7.08
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16:14 EDTAVBAvalonBay sees Q4 core FFO $1.73-$1.79, consensus $1.76
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16:13 EDTAVBAvalonBay reports Q3 FFO $2.14, consensus $2.00
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15:34 EDTAVBNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Amgen (AMGN), consensus $2.11; General Growth Properties (GGP), consensus 31c; Avalonbay (AVB), consensus $2.00; Hartford Financial (HIG), consensus 83c; Universal Health Services (UHS), consensus $1.36; XL Group (XL), consensus 63c; Masco (MAS), consensus 32c; Plum Creek Timber (PCL), consensus 30c; T-Mobile US (TMUS), consensus 2c; Cliffs Natural (CLF), consensus (3c); Twitter (TWTR), consensus 1c; American Capital Agency (AGNC), consensus 73c; DDR Corp. (DDR), consensus 30c; PartnerRe (PRE), consensus $3.66; Owens & Minor (OMI), consensus 47c; Manitowoc (MTW), consensus 42c; Compass Minerals (CMP), consensus 78c; Allison Transmission (ALSN), consensus 30c; Regal Entertainment (RGC), consensus 17c.

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