New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 20, 2014
09:58 EDTCAM, GEGE acquires Cameron's Compression unit for $550M
GE Oil & Gas (GE) and Cameron announced that GE has agreed to acquire Cameronís Reciprocating Compression division for $550M. Cameronís Reciprocating Compression division, which generated sales of approximately $355M in 2012, has approximately 900 employees and operates from 20 global locations. The acquisition is expected to close later this year subject to regulatory approval. After closing, Cameronís Reciprocating Compression division will become part of GEís Oil & Gas recently formed Downstream Technology Solutions business.
News For GE;CAM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 >>
August 27, 2015
10:00 EDTCAMOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:27 EDTCAMCameron downgraded to Neutral from Buy at Global Hunter
Subscribe for More Information
08:58 EDTCAMCameron downgraded to Sector Perform from Outperform at Scotia Howard Weil
Subscribe for More Information
08:44 EDTCAMCameron downgraded to Hold from Buy at Gabelli
Subscribe for More Information
06:46 EDTCAMCameron upgraded to Hold from Reduce at HSBC
Cameron (CAM) is being acquired by Schlumberger (SLB) in a $14.8B cash and stock deal.
August 26, 2015
17:52 EDTGEGE, PTC participate in $82M funding round for ServiceMax
Subscribe for More Information
16:26 EDTCAMOn The Fly: Top stock stories for Wednesday
Subscribe for More Information
12:47 EDTCAMOn The Fly: Top stock stories at midday
Subscribe for More Information
09:33 EDTGEActive equity options trading on open
Subscribe for More Information
09:25 EDTCAMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), down 15.1%... Express (EXPR), up 9.8%... Frontline (FRO), up 10.4%... Chico's FAS (CHS), up 9.3%. ALSO HIGHER: Oshkosh (OSK), up 11.9% after being awarded a $6.7B contract by the U.S. Army... EMC Corporation (EMC), up 5.8% after Re/code reported that the board is considering a VMware (VMW) downstream merger proposal... Google (GOOG), up 4.6% after being upgraded to Conviction Buy from Neutral at Goldman... Ford (F), up 2.4% after Bloomberg reported that the company is considering returning production of Bronco and Ranger to the U.S. NOTABLE: Cameron International (CAM), up 45.4% after announcing that it will be acquired by Schlumberger (SLB). Schlumberger is down 1.9%. LOWER: WisdomTree (WETF), down 3.6% after being downgraded to Sell from Buy at Citi... Transocean (RIG), down 3.4% after proposing to cancel Q3 and Q4 dividends.
09:12 EDTCAMSchlumberger says no plans to divest anything from Cameron
Subscribe for More Information
08:47 EDTCAMSchlumberger says the acquisition could increase sales base by 20%
Subscribe for More Information
07:00 EDTCAMSchlumberger volatility elevated into acquiring Cameron in a $14.8B deal
Subscribe for More Information
06:21 EDTCAMSchlumberger to host conference call
Subscribe for More Information
06:11 EDTCAMCameron volatility elevated into Schlumberger agrees to acquire in $14.8B deal
Subscribe for More Information
06:04 EDTCAMSchlumberger agrees to acquire Cameron in deal valued at $14.8B
Schlumberger Limited (SLB) and Cameron (CAM) jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of both companies. Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share. Based on the closing stock prices of both companies on August 25, the agreement places a value of $66.36 per Cameron share, representing a 37.0% premium to Cameron's 20-day volume weighted average price of $48.45 per share, and a 56.3% premium to Cameron's most recent closing stock price of $42.47 per share. Upon closing, Cameron shareholders will own approximately 10% of Schlumberger's outstanding shares of common stock. The total transaction has a value of $14.8B as of August 25. Schlumberger expects to realize pretax synergies of approximately $300M-$600M in the first and second year, respectively. Initially, the synergies are primarily related to reducing operating costs, streamlining supply chains, and improving manufacturing processes, with a growing component of revenue synergies in the second year and beyond. Schlumberger also expects the combination to be accretive to EPS by the end of the first year after closing. The transaction combines two complementary technology portfolios into a "pore-to-pipeline" products and services offering to the global oil and gas industry. On a pro forma basis, the combined company had 2014 revenues of $59B. The transaction is subject to Cameron shareholders' approval, regulatory approvals and other customary closing conditions. It is anticipated that the closing of the transaction will occur in Q1 of 2016.
06:01 EDTCAMSchlumberger agrees to acquire Cameron in deal valued at $14.8B
Subscribe for More Information
August 25, 2015
09:35 EDTGEActive equity options trading on open
Subscribe for More Information
06:28 EDTGEGE eyes compensation for Polish forex loan conversion, Reuters says
General Electric is eyeing compensation for losses incurred by its Polish unit Bank BPH due to the planned conversion of Swiss-franc denominated mortgages into zlotys, Reuters reports, citing a letter sent from GE Capital CEO Keith Sherin to Polish authorities. According to the letter, GE saw further possible damage to BPH, following a 10% decline in BPH shares on the day the bill on the conversion was preemptively passed by the lower house of parliament. Reference Link
August 24, 2015
19:30 EDTGEGeneral Electric to eliminate Lufkin oil 262 jobs in TX, Reuters says
Subscribe for More Information
1 | 2 | 3 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use