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News Breaks
January 25, 2013
17:21 EDTEXHCarlson reports 5.6% passive stake in Exterran
News For EXH From The Last 14 Days
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October 6, 2015
13:00 EDTEXHOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as the Dow finally succumbed to the pressure that has been dragging down the Nasdaq all morning. The blue chip index had been buoyed by the strong advance seen by DuPont (DD) after a change at the top of the company's management ranks. ECONOMIC EVENTS: In the U.S., the trade deficit ballooned 15.6% to $48.3B in August, though that was roughly in-line with the $48.5B deficit that analyst had expected. In Europe, factory orders in Germany unexpectedly dropped 1.8% in August. The consensus expectation had been for a 0.5% increase. COMPANY NEWS: Despite the fact that DuPont lowered its guidance for the second time in less than four months last night, shares of the industrial giant rose 10% as investors see the exit of the company's CEO as a sign of coming change. DuPont's guidance cut came in tandem with the announcement that Chair and CEO Ellen Kullman will retire from the company, effective October 16. Edward Breen, a current member of the DuPont board, will assume the role of Interim Chair and CEO while the company searches for a full-time replacement. Deutsche Bank, for one, predicts that the executive change portends that a further breakup of the company is "highly likely," noting that Breen broke up Tyco (TYC) twice when he ran the company. MAJOR MOVERS: Among the notable gainers was Exterran (EXH), which advanced 15% after securing financing for the proposed separation of its international contract operations, aftermarket services, and fabrication businesses into a standalone company. Also higher were shares of PMC-Sierra (PMCS), which rose 33% after agreeing to be acquired by Skyworks Solutions (SWKS), whose shares slid more than 8% following the news. Also lower was Tesla (TSLA), which declined 3.5% after Morgan Stanley analysts lowered sales forecasts for the company's recently-launched Model X vehicle. Exact Sciences (EXAS) lost 45% after regulators issued preliminary guidelines identifying the company's main product, a stool test for colon cancer called Cologuard, as "an alternative screening test" that can be used in "select clinical circumstances." Additionally, Illumina (ILMN) fell 13% after the company preannounced lower than expected third quarter sales and fourth quarter guidance. INDEXES: Near midday, the Dow was down 11.09, or 0.07%, to 16,765.34, the Nasdaq was down 61.74, or 1.29%, to 4,719.53, and the S&P 500 was down 12.67, or 0.64%, to 1,974.38.
06:57 EDTEXHExterran secures financing for spin-off of intl services & fabrication business
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