Stock Market & Financial Investment News

News Breaks February 21, 2013 10:43 EDT GDI, KKR Gardner Denver downgraded ahead of takeover bid deadline Today is the deadline for bids to be submitted for industrial machinery maker Gardner Denver (GDI), according to multiple news sources, and the stock is falling slightly in mid-morning trading. Two potential acquirers have decided not to bid for the machinery maker, Bloomberg reported, citing unnamed sources. Advent International has withdrawn its bid, and Onex Corp. and TPG Capital, which were going to submit a joint bid, have also decided not to pursue the acquisition, the news service reported. Private equity firm KKR & CO (KKR), however, is still considering submitting a bid, Bloomberg quoted an unnamed source as saying. In a note to investors earlier today, Maxim Group analyst William Bremer downgraded Gardner Denver to Hold from Buy. The analyst wrote that he has also heard that KKR is still weighing a bid. However, he warned that the deal may not close, given the state of the company's end markets and its inability to complete the transaction sooner. Bremer recommends that investors avoid owning the stock in the near-term, as he believes that it could drop significantly should a takeover of the company not pan out. In mid-morning trading, Gardner Denver lost 0.70% to $66.12. News For GDI;KKR From The Last 14 Days Check below for free stories on GDI;KKR the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 22, 2013 16:25 EDT KKR On The Fly: Closing Wrap Stocks on Wall Street were sharply lower following a day where the Fed dominated the news. The averages were higher early in the session as Fed Chairman Ben Bernanke testified in front of Congress. However, the averages crossed into negative ground as Bernanke's comments on the potential for future QE tapering were digested. The selling accelerated in the late hours of the session following the release of the minutes from the Fed's last FOMC meeting. ECONOMIC EVENTS: In the U.S., Federal Reserve Chairman Ben Bernanke delivered testimony before the Joint Economic Committee of Congress, stating that premature tightening of monetary policy would carry a "substantial risk" of slowing or ending the economic recovery. Bernanke, however, also said the central bank could begin winding down its bond-buying program at one of its "next few meetings" if the economy continues to improve. The FOMC minutes, released at 2:00 pm ET, indicated that some committee members expressed a willingness to adjust assets purchases, though some disagreement existed over what economic data would be needed to begin such a program. The minutes also said some members might want to cut asset purchases by as soon as June. The National Association of Realtors said existing home sales advanced 0.6% to an annual rate of 4.97M units in April, which was the highest level since November 2009 but still below expectations for a rise to a 4.99M-unit rate. COMPANY NEWS: Target (TGT) shares lost $2.86, or 4.01%, to $68.40 after the company's first quarter report, which it called "disappointing." The company also cut its full-year earnings and same-store sales views. MAJOR MOVERS: Among notable gainers was Saks (SKS), up $1.83, or 13.39%, to $15.50 after the New York Post said the company hired Goldman Sachs (GS) to explore strategic alternatives and Bloomberg said KKR (KKR) was considering a stake in the luxury retailer. Also higher following its better-then-expected quarterly results was Zale (ZLC), which advanced $1.20, or 22.22%, to $6.60. Among noteworthy losers were a number of Solar stocks, including Trina Solar (TSL), down $1.07, or 14.9%, to $6.11, and SunPower (SPWR), down $1.81, or 8.62%, to $19.19 after China's Xinhua news agency said early talks between Europe and China to resolve their fight over solar panel trade rules had failed. Also lower was SolarWinds (SWI), down $6.57, or 13.71%, to $41.34 after the company said it will acquire N-able for $120M and its shares were downgraded at research firm Pacific Crest. INDICES: The Dow was down 80.41, or 0.52%, to 15,307.17; the Nasdaq was down 38.82, or 1.11%, to 3,463.30; and the S&P 500 was down 13.81, or 0.83%, to 1,655.35. 13:07 EDT KKR KKR weighs Saks investment, may push Neiman Marcus merger, Bloomberg says KKR (KKR) is considering an investment in Saks (SKS) and may push Saks to pursue a merger with Neiman Marcus, reports Bloomberg, citing people with knowledge of the matter. Saks shares are up $2.25, or 16.46%, to $15.92 after reports last night said the company retained Goldman Sachs (GS) to explore strategic alternatives, including a possible sale. Reference Link 12:53 EDT KKR KKR considers Saks investment, could push merger with Neiman, Bloomberg says Subscribe for More Information 12:08 EDT GDI Options with decreasing implied volatility: ARNA SGMO NTAP CBST GDI May 20, 2013 08:30 EDT KKR KKR & Co. to host investor day Subscribe for More Information May 17, 2013 13:21 EDT GDI Options with increasing implied volatility: CPRT BMY GDI HNZ Subscribe for More Information May 16, 2013 07:11 EDT KKR Some asset managers want investors to buy their shares, Reuters reports Subscribe for More Information 06:08 EDT KKR On the Fly: Periodicals Wrap-Up Subscribe for More Information May 15, 2013 11:20 EDT GDI Options with increasing implied volatility: QCOR MYGN GDI Subscribe for More Information 07:11 EDT KKR Some buyout firms move beyond buyouts, WSJ reports Subscribe for More Information 06:08 EDT KKR On the Fly: Periodicals Wrap-Up Subscribe for More Information May 10, 2013 12:43 EDT GDI Options with increasing implied volatility: SDRL GDI JNK FXA Subscribe for More Information May 9, 2013 11:34 EDT GDI Options with increasing implied volatility: BKS MMR LIFE GDI Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.