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Stock Market & Financial Investment News

News Breaks
December 28, 2012
09:02 EDTGVAGranite Construction to acquire Kenny Construction for $130M
Granite Construction has signed a definitive agreement to acquire Kenny Construction Company, a national contractor and construction manager specializing in the power, tunnel, water and civil markets, for $130M. Kenny is a privately-owned, Northbrook, Illinois-based company with approximately 425 employees. Kenny’s revenues are projected to be $270M for 2012. Granite intends to finance the transaction through a combination of cash and available borrowings under its existing revolving credit facility. The transaction has been closed in escrow and will become effective on December 31. One-time costs related to the acquisition of Kenny are estimated to be approximately $5M and will be recorded in Q4. Including integration costs and the impact of intangible amortization, the transaction is expected to be break-even to Granite’s 2013 EPS. Excluding intangible asset amortization, the transaction would be immediately accretive
News For GVA From The Last 14 Days
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April 20, 2015
10:00 EDTGVAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 58.com (WUBA) initiated with a Hold at Summit Research... Aduro Biotech (ADRO) initiated with a Buy at Roth Capital... Alibaba (BABA) initiated with a Buy at Summit Research... Baidu (BIDU) initiated with a Buy at Summit Research... Callaway Golf (ELY) initiated with a Buy at Jefferies... Cellectis (CLLS) initiated with a Buy at Jefferies... Changyou.com (CYOU) initiated with a Buy at Summit Research... Cheetah Mobile (CMCM) initiated with a Buy at Summit Research... Ctrip.com (CTRP) initiated with a Hold at Summit Research... Dynegy (DYN) initiated with an Overweight at Morgan Stanley... FMC Corporation (FMC) initiated with a Neutral at Monness Crespi... Franklin Financial Network (FSB) initiated with a Buy at BofA/Merrill... Granite Construction (GVA) initiated with an Outperform at Cowen... Hershey (HSY) initiated with a Reduce at Nomura... JD.com (JD) initiated with a Hold at Summit Research... Jumei (JMEI) initiated with a Buy at Summit Research... McEwen Mining (MUX) initiated with a Buy at H.C. Wainwright... Natural Gas Services (NGS) initiated with a Neutral at Sidoti... New Residential (NRZ) initiated with a Buy at BofA/Merrill... Platform Specialty Products (PAH) initiated with an Outperform at Credit Suisse... Qihoo 360 (QIHU) initiated with a Buy at Summit Research... Qunar (QUNR) initiated with a Buy at Summit Research... SINA (SINA) initiated with a Hold at Summit Research... Smith & Wesson (SWHC) initiated with a Sector Perform at RBC Capital... Sohu.com (SOHU) initiated with a Hold at Summit Research... SolarEdge (SEDG) initiated with a Buy at Deutsche Bank... Splunk (SPLK) initiated with a Buy at Citigroup... Tableau (DATA) initiated with a Neutral at Citigroup... Team Health (TMH) initiated with an Outperform at Leerink... Tuniu (TOUR) initiated with a Buy at Summit Research... Vipshop (VIPS) initiated with a Buy at Summit Research... Vista Outdoor (VSTO) initiated with an Outperform at RBC Capital... Weibo (WB) initiated with a Buy at Summit Research... YY Inc. (YY) initiated with a Buy at Summit Research... Youku Tudou (YOKU) initiated with a Hold at Summit Research... Zhaopin (ZPIN) initiated with a Hold at Summit Research.
06:22 EDTGVAGranite Construction initiated with an Outperform at Cowen
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