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Stock Market & Financial Investment News

News For FB;ZNGA;YUM;MDRX;BX;CBK;FIVE;NTLS;S;VRSN From The Last 14 Days
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April 10, 2015
12:46 EDTBXOn The Fly: Midday Wrap
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11:13 EDTMDRXLeerink healthcare services analyst holds analyst/industry conference call
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08:03 EDTBXExcel Trust to be acquired by Blackstone for $15.85 per share, or about $2B
Excel Trust (EXL) announced that it has entered into a definitive agreement with Blackstone Property Partners, under which Blackstone (BX) will acquire all outstanding shares of common stock of Excel Trust for $15.85 per share in an all-cash transaction valued at approximately $2B. The transaction has been unanimously approved by Excel Trust's board and represents a premium of nearly 15% over the company's closing stock price on April 9. In addition to the common stock dividend of 18c per share payable on April 15, Excel Trust intends to pay an additional common stock dividend in July, but, under the terms of the agreement, not for any quarter thereafter. Completion of the transaction, which is currently expected to occur in the second half of 2015. The transaction is not contingent on receipt of financing by Blackstone. In connection with the closing of the transaction, the parties intend that Excel Trust L.P.'s $75M of 4.40% Senior Series A Notes due 2020 and its $25M of 5.19% Senior Series B Notes due 2023 will be repaid. Excel Trust L.P.'s $250M of 4.625% Senior Notes due 2024 are intended to remain outstanding following the closing.
08:00 EDTBXExcel Trust to be acquired by Blackstone for $15.85 per share, or about $2B
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06:38 EDTBXBlackstone and Wells Fargo confirm acquisition of GE real estate assets
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06:35 EDTBXGE releases financial details of GE Capital assets sale
Approximately $16B of after-tax charges are expected to be recorded in the first quarter of 2015 in connection with the plan – of which about $12B are non-cash. The charges include taxes on repatriated earnings, asset impairments due to shortened hold periods, and charges on businesses held for sale, including goodwill allocation. GE expects that the earnings impact of the GE Capital exits will be offset by the buyback over the exit period. GE has amended its income maintenance agreement to guarantee all tradable senior and subordinated debt securities and all commercial paper issued or guaranteed by GECC. The guarantee will replace the current income maintenance covenant. GE will maintain substantial liquidity and capital through the transition and does not expect to issue incremental GE Capital long-term debt for at least five years. Commercial paper will be further reduced to approximately $5 billion by the end of 2015.
06:34 EDTBXGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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06:34 EDTBXBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
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06:34 EDTBXBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
06:31 EDTBXGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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05:59 EDTSSprint to pay $15.5M to settle DOJ wiretap overcharging case
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April 9, 2015
16:17 EDTZNGA, BXOn The Fly: Closing Wrap
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16:00 EDTZNGAOptions Update; April 9, 2015
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13:38 EDTBXGE close to selling real estate holdings, WSJ reports
General Electric (GE) is close to selling its real estate holdings to Blackstone (BX) and Wells Fargo (WFC), Wall Street Journal reports, citing people familiar with the matter. The portfolio has $30B in holdings, the Journal adds. Shares of GE moved up 25c to $25.26 following the report. Reference Link
13:09 EDTZNGAOn The Fly: Midday Wrap
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12:14 EDTSSprint store announcement a positive, says Wells Fargo
Wells Fargo views Sprint's announcement of opening 1,435 Sprint-RadioShack stores starting tomorrow as a positive. Wells believes the stores are in attractive locations across the country and that Sprint continues to focus on attracting higher credit quality customers. It keeps an Outperform rating on the name.
11:02 EDTSSprint to open 1,435 Sprint-RadioShack stores tomorrow
Sprint says it will more than double its company-owned retail footprint tomorrow by opening 1,435 Sprint-RadioShack stores. In last week’s transaction, General Wireless, an affiliate of Standard General LP, acquired 1,743 RadioShack stores. Sprint has agreed with Standard General to be co-tenants in 1,435 of those stores, with Sprint being the primary brand in marketing materials and signage. Sprint will occupy roughly one third of the retail space at these existing RadioShack locations. The phone carrier added, "The expansion of Sprint’s retail stores also means significant opportunities for the company to invest in local communities by adding nearly 3,500 new jobs. In the coming months, Sprint will actively recruit a skilled workforce to fill quality full- and part-time positions, helping to make local communities stronger."
09:36 EDTZNGAActive equity options trading on open
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09:27 EDTZNGAOn The Fly: Pre-market Movers
HIGHER: Pier 1 Imports (PIR), up 5.8% after earnings beat estimates, dividend boosted, and shares upgraded at Wedbush... Novogen (NVGN) rose after announcing that Australian studies revealed its experimental drug, Anisina, killed melanoma cells irrespective of their mutational status. Shares of small-cap Novogen rose 35% in pre-market trading following the company's report on the studies... TASER (TASR), up 3.8% after announcing UK order from London for 178 AXON body cameras... United Continental (UAL), up 2.8% after narrowing Q1 PRASM forecast... Walgreens Boots Alliance (WBA), up 2.4% after reporting Q2 results. LOWER: Zynga (ZNGA), down 12% after announcing last night that current CEO Don Mattrick will depart the company and the board and Mark Pincus, Zynga's founder and chairman, will return to the role of CEO... Alcoa (AA), down 2% after reporting Q1 financial results and giving 2015 guidance... Cliffs Natural (CLF), down 4.6% after BMO Capital cut it rating to the equivalent of sell and halved its price target on the stock to $4.
08:27 EDTZNGANeedham sees little to be positive about in Zynga news
Needham thinks "very little" in Zynga's CEO transition can be construed positively. It notes the founder, who was replaced less than two years ago after a poorly executed IPO and subsequent revenue decline, is being brought back to replace a more recent CEO whose turnaround efforts it views as "having been incomplete at best." The firm suspended its rating on Zynga amid uncertainty over the company's fundamental prospects.
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