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Stock Market & Financial Investment News

News Breaks
January 20, 2014
16:34 EDTCBEY, IQNTInteliquent appoints Kurt Abkemeier CFO
Inteliquent (IQNT) announced that Kurt Abkemeier has been appointed CFO, effective immediately. Eric Carlson, Inteliquent's interim principal financial officer and interim principal accounting officer from August 2013 until Abkemeier's appointment, will continue to serve as Inteliquent's Controller. Prior to joining Inteliquent, Abkemeier served as the Vice President of Finance and Treasurer of Cbeyond (CBEY).
News For IQNT;CBEY From The Last 14 Days
Check below for free stories on IQNT;CBEY the last two weeks.
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April 21, 2014
12:47 EDTCBEYOn The Fly: Midday Wrap
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12:00 EDTCBEYCbeyond rises 38.7%
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11:27 EDTCBEYCbeyond downgraded to Neutral from Buy at DA Davidson
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10:00 EDTCBEYCbeyond rises 38.3%
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09:21 EDTCBEYOn The Fly: Pre-Market Movers
HIGHER: Sarepta (SRPT), up 54% after announcing plans to to submit NDA for Eteplirsen by year end 2014. Shares of Prosnesa (RNA), another drugmaker working on a competing DMD drug, are up more than 12%... AstraZeneca (AZN), up 6% after the Sunday Times says that Pfizer (PFE) is considering a takeover bid for the company. Pfizer is up 1.2% following the report... Newmont Mining (NEM), up 8% after WSJ says the company and Barrick Gold (ABX) could resume merger talks as soon as today... Cbeyond (CBEY), up 39% after agreeing to be acquired for about $323M by Birch Communications... Momenta Pharma (MNTA), up 10.5% after the Supreme Court rejected Teva's (TEVA) bid to delay generic Copaxone... Nu Skin (NUS), up 5% after saying its China division will resume corporate-hosted business meetings... Micron (MU), up 4% after price target raised at Drexel Hamilton... DOWN AFTER EARNINGS: Acacia Research (ACTG), down 6%... athenahealth (ATHN), down 5.6%.
09:00 EDTCBEYCbeyond rises 39.4%
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06:01 EDTCBEYBirch Communications to acquire Cbeyond for approximately $323M
Birch Communications and Cbeyond jointly announced that they have entered into a definitive agreement under which Birch will acquire Cbeyond in an all-cash transaction valued at approximately $323M. Cbeyond stockholders will receive between $9.97 and $10.00 per share in cash. The exact amount will be determined based on stock transactions relating to previously granted stock awards to employees that occur after execution of the definitive agreement. At $9.97 per share, the purchase price represents a premium of 56.8% over Cbeyond's stock price on November 5, 2013, the trading date before Cbeyond announced its process to explore strategic alternatives, and a premium of 40.8% over the closing price of Cbeyond's stock on Thursday April 17. The transaction has been unanimously approved by the boards of directors of both companies. The transaction is expected to close within six months, subject to customary conditions, including necessary approvals from federal and state regulators and the Cbeyond stockholders. Birch has obtained financing commitments from PNC Capital Markets LLC and Jefferies Finance LLC. Lazard is acting as sole financial advisor and Jones Day is acting as legal advisor to Birch in the transaction.

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