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Stock Market & Financial Investment News

News Breaks
October 5, 2012
17:09 EDTUTX, GYGenCorp acquisition of Rocketdyne delayed pending FTC approval
On October 4, GenCorp (GY) received a request for additional information from the Federal Trade Commission in connection with the proposed acquisition of the Rocketdyne division of United Technologies (UTX), an agreement previously disclosed on July 22. United Technologies also received a request from the FTC on the same date. The FTC’s requests extend the waiting period during which the parties may not close the acquisition until 30 days after GenCorp and United Technologies have substantially complied with the requests. GenCorp now expects to close the acquisition in 1H13.
News For GY;UTX From The Last 14 Days
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November 23, 2015
12:26 EDTUTXCredit Suisse removes General Electric from focus list after recent run-up
Shares of global industrial giant General Electric (GE) are lower in afternoon trading after Credit Suisse's Investment Policy Committee removed the company's shares from the U.S. Focus List. WHAT'S NEW: In a note to investors this morning, Credit Suisse analyst Julian Mitchel and team noted that the firm's Investment Policy Committee removed GE shares from the U.S. focus list after the recent upward move in shares. The firm, which added GE shares to its Focus List on September 16, said the catalysts that it highlighted at that time are now largely reflected in the share price. WHAT'S NOTABLE: Although it removed GE from its U.S. and Global Focus lists, Credit Suisse maintained its Overweight rating on shares and increased its price target to $34 from $31. The firm sees GE as just starting to accelerate measures to drive up its gross margins, whereas its sector peers have already been splitting, spinning off or selling assets to enhance their profit margins higher for years. With GE selling most of its capital intensive and low-to-no growth Capital business while redirecting capital to higher growth and higher margin industrial business, Credit Suisse said shares deserve a higher premium than its peers Honeywell (HON) and United Technologies (UTX). PRICE ACTION: Shares of General Electric are down 0.65% to $30.46 in midday trading.
November 16, 2015
06:32 EDTUTXUnited Technologies reinstated with a Neutral at Credit Suisse
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