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Stock Market & Financial Investment News

News Breaks
May 12, 2014
08:36 EDTPF, HSH, BXHillshire Brands sees Pinnacle Foods deal closing in September
Says Blackstone (BX) has agreed to vote its shares in favor of the transaction. The company will retain the Hillshire Brands (HSH) name. Sees deal immediately accretive to EPS, 15%+ accretive in year 3. Sees $140M in cost synergies by end of year 3, primarily derived from supply chain enhancements and consolidation of overhead expenses. Sees approximately $180M in estimated costs to achieve synergies. Says integration teams from both organizations "ready to go," will implement plans to achieve synergies and facilitate a smooth integration after closing. Says focused on de-levering to return to investment grade. Says overall top priority to support continued organic growth. Comments from slides that will be presented on the conference call discussing the acquisition of Pinnacle Foods (PF).
News For HSH;PF;BX From The Last 14 Days
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November 25, 2015
06:39 EDTPFBoulder Brands downgraded to Market Perform from Outperform at William Blair
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06:07 EDTBXBlackstone in talks to sell LA towers to Douglas Emmett, Bloomberg reports
Blackstone is in talks to sell four Los Angeles office towers to a group led by Douglas Emmett for more than $1B, reports Bloomberg. According to a person with knowledge of the negotiations, three of the towers are on Wilshire Boulevard in the Westwood commercial district. Reference Link
November 24, 2015
12:08 EDTPFOn The Fly: Top stock stories at midday
Stocks began the session in negative territory and remained there for most of the morning. The weakness was attributed to the worldwide travel alert issued by the U.S. State Department on the eve of the Thanksgiving holiday as well as the shooting down of a Russian plane by Turkey, both of which heightened the tension of investors. The averages have shown improvement since the European markets closed and have moved to their session highs to turn mixed near noon. ECONOMIC EVENTS: In the U.S., the estimate of third quarter GDP growth was boosted to 2.1% from 1.5%, matching estimates. Personal consumption growth was estimated at 3.0% in the second look, versus expectations for an increase of 3.2%. The S&P/Case-Shiller 20-city composite home price index was up a seasonally adjusted 0.6% month over month in September, versus expectations for an increase of 0.3%. The Conference Board's consumer confidence reading for November came in at 90.4, missing the consensus forecast of 99.5. COMPANY NEWS: Bill Ackman has put more funds behind his big bet in Valeant Pharmaceuticals (VRX), as filings show that Pershing Square raised its stake in the embattled drugmaker to 9.9%. In other news from a high-profile activist investor, Carl Icahn revealed that he has taken a 7.13% stake in Xerox (XRXZ) and may seek positions on the board of the company. Research firm Piper Jaffray believes that Icahn's involvement in the company can amplify the company's review and boost the stock, but was not the case at midday, as Xerox shares slipped about 2% following last night's disclosure. MAJOR MOVERS: Among the notable gainers was Dollar Tree (DLTR), which rallied 6% after it reported upbeat quarterly earnings and backed its fiscal 2015 guidance. Also higher was Burlington Stores (BURL), which gained 8% after reporting quarterly results and approving a new $200M share repurchase program. In addition, Boulder Brands (BDBD) was up 8.5% after it agreed to be acquired by Pinnacle Foods (PF) for $11 per share. Pinnacle slipped 4% following the deal announcement. Another noteworthy losers was Brocade (BRCD), which fell 8% and was downgraded to Neutral from Overweight at JPMorgan following its Q4 earnings. Also lower was Microsemi (MSCC), which dropped 6% after it agreed to acquire PMC-Sierra (PMCS), which was also 6% lower, in a $2.5B transaction. INDEXES: Near midday, the Dow was up 15.57, or 0.09%, to 17,808.25, the Nasdaq was down 8.75, or 0.17%, to 5,093.73, and the S&P 500 was down 0.7, or 0.03%, to 2,085.89.
07:51 EDTPFPinnacle Foods to acquire Boulder Brands for $11 per share
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07:40 EDTPFPinnacle Foods to acquire Boulder Brands for $11 per share
November 23, 2015
10:00 EDTBXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Adesto Technologies (IOTS) initiated with a Buy at Roth Capital... American Farmland (AFCO) initiated with an Outperform at Oppenheimer... Blackstone (BX) initiated with a Neutral at JPMorgan... California Resources (CRC) initiated with a Buy at Ladenburg... Calumet Specialty Products (CLMT) initiated with a Neutral at Goldman... Clearfield (CLFD) initiated with a Buy at Lake Street... Coherus Biosciences (CHRS) initiated with an Overweight at Barclays... Copa Holdings (CPA) initiated with a Buy at HSBC... GOL Linhas (GOL) initiated with a Reduce at HSBC... HP Enterprise (HPE) initiated with a Hold at Maxim... Himax (HIMX) initiated with an Overweight at Morgan Stanley... Horizon Pharma (HZNP) reinstated with a Buy at Jefferies... Match Group (MTCH) initiated with a Buy at Axiom... Mirati Therapeutics (MRTX) initiated with a Neutral at Citi... Momenta (MNTA) initiated with an Equal Weight at Barclays... MyoKardia (MYOK) initiated with an Outperform at Cowen... Revance (RVNC) initiated with a Buy at Guggenheim.
07:17 EDTBXBlackstone initiated with a Neutral at JPMorgan
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07:11 EDTBXGE to sell U.K. Home Lending Portfolio to Blackstone, TSSP, and CarVal
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November 18, 2015
17:33 EDTBXBlackstone not interested in SunEdison investment, Reuters says
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16:29 EDTBXBlackstone not interested in SunEdison debt, Reuters says
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16:24 EDTBXBlackstone, Carlyle, KKR potential buyers of Armacell, Reuters says
Britain's Charterhouse has established a Friday deadline for bids on its insulation materials company Armacell, which may be valued at up to $1.06B, reports Reuters, citing sources. The business has attracted interest from private equity firms, with Blackstone (BX), Carlyle (CG), and KKR (KKR) "cited as potential buyers," according to the report. Reference Link
13:55 EDTBXBlackstone President Tony James fears recession in 2017, Bloomberg says
Blackstone Group LP President Tony James said he is concerned that the U.S. could potentially enter a recession by 2017 as economic growth faces headwinds, Bloomberg reports. Reference Link
November 17, 2015
07:48 EDTBXBofa/Merrill to hold a conference
Banking & Financial Services Conference 2015 is being held in New York on November 17-18.
November 16, 2015
11:31 EDTBXBlackstone to sell GCA Services Group to Thomas H. Lee Partners and Goldman Sach
Blackstone (BX) announced that private equity funds it manages have agreed to sell GCA Services Group to a consortium of the Merchant Banking Division of Goldman Sachs (GS) and Thomas H. Lee Partners. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2016.
10:01 EDTBXBlackstone acquires Diamonds Direct
Blackstone and Diamonds Direct announced that funds managed by Blackstone Tactical Opportunities have acquired Diamonds Direct, an independent jewelry company. The transaction closed in early November.
06:48 EDTBXGoldman, Thomas H. Lee agree to buy GCA Services from Blackstone, Reuters says
According to sources, Reuters reports that the private equity unit of Goldman Sachs (GS) and Thomas H. Lee Partners have agreed to buy GCA Services Group, a facility management company, from Blackstone (BX) for about $1B, including debt. Goldman and Thomas H. Lee will have equal participation in the consortium that will buy GCA. Reference Link
November 13, 2015
10:48 EDTBXBlackstone looks for buyer for German wind farm, Reuters says
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06:16 EDTBXBlackstone to purchase Japan Residential in $450M deal, Reuters says
Blackstone said it will buy Japan Residential Investment Company in a deal valued at roughly $450M, including the assumption of debt, Reuters says. Reference Link

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