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Stock Market & Financial Investment News

News Breaks
February 27, 2013
09:02 EDTHME, AWI, PPS, MHK, SPF, LEN, LPS, TOL, FBHS, CLGX, PHMBarclays to host a symposium
Select Series 2013: Housing Symposium is being held in New York on February 27.
News For LEN;PHM;TOL;SPF;CLGX;LPS;MHK;FBHS;AWI;HME;PPS From The Last 14 Days
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March 30, 2015
08:07 EDTFBHSFortune Brands to acquire Norcraft for approx. $600M
Fortune Brands Home & Security (FBHS) has signed an agreement to acquire Norcraft (NCFT), a publicly-owned manufacturer of kitchen and bathroom cabinetry. "We believe Fortunes Brands’ scale and resources provide a highly complementary platform to continue enhancing our entire organization while generating meaningful value for our shareholders,” said Mark Buller, chairman and CEO of Norcraft. “We look forward to the combination of these two best-in-class cabinet businesses and are excited by the prospects for the future.” The purchase price is $25.50 per share, resulting in an enterprise value of approximately $600M. The transaction will be financed under Fortune Brands’ existing credit facility. Fortune Brands expects to launch a tender offer for all outstanding Norcraft shares in approximately 15 days. Upon completion of the tender offer, Norcraft will be merged into Fortune Brands’ cabinets business. The transaction is subject to the tender of a majority of Norcraft’s shares and certain other customary closing conditions, and is expected to close in the second quarter. Strategic acquisitions are one component of Fortune Brands’ overall strategy to both grow the business and create incremental value for shareholders through use of its strong balance sheet and cash flow.
08:00 EDTFBHSNorcraft agrees to be acquired by Fortune Brands for approx. $600M
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07:59 EDTFBHSNorcraft agrees to be acquired by Fortune Brands for approx. $600M
March 22, 2015
16:56 EDTFBHSFortune Brands could reach $60, Barron's says
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March 20, 2015
14:55 EDTCLGXCoreLogic management to meet with Piper Jaffray
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09:46 EDTMHKMohawk management to meet with JPMorgan
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07:47 EDTTOLToll Brothers management to meet with Deutsche Bank
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March 19, 2015
11:52 EDTLENLennar says "enthusiastic" about prospects for Rialto
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11:23 EDTLENLennar sees strong top, bottom line growth for 2015
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11:22 EDTLENLennar says still on track to deliver 23,500-24,000 homes for 2015
Still expects apartment unit to be profitable for FY. Says still on track to deliver 23,500-24,000 homes for 2015. Severe weather conditions has delayed some construction activities, will slightly reduce backlog conversion ratio. Still expects gross margins for FY to average 24%, Q4 highest gross margin percent for year. Says increasing goal for financial services for FY due to strong refinance environment, now expects to earn $95M-$100M for FY. Sees FY range of profits for Rialto $30M-$40M for FY, heavily weighted to Q4. Sees FY15 effective tax rate in mid-34% range. Says active community count on track to hit 675 by end of 2015.
11:10 EDTLENLennar says housing market continuing slow, steady recovery
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07:36 EDTTOLToll Brothers management to meet with Deutsche Bank
Meeting to be held in Frankfurt on March 19 hosted by Deutsche Bank.
06:53 EDTCLGXCoreLogic management to meet with Oppenheimer
Meeting to be held in the Mid-Atlantic area on March 25 hosted by Oppenheimer.
06:52 EDTCLGXCoreLogic management to meet with William Blair
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06:03 EDTLENLennar reports Q1 EPS 50c, consensus 45c
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March 18, 2015
15:20 EDTLENNotable companies reporting before tomorrow's open
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13:13 EDTLENLennar March volatility elevated into Q1 and outlook
Lennar March call option implied volatility is at 84, April is at 33, May is at 28; compared to its 26-week average of 31 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on March 19.
07:39 EDTTOLToll Brothers management to meet with Deutsche Bank
Meetings to be held in Geneva/Zurich on March 18 hosted by Deutsche Bank.
March 17, 2015
10:00 EDTPPSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Aimco (AIV) initiated with an Outperform at RW Baird... Alnylam (ALNY) initiated with a Buy at Janney Capital... American Campus (ACC) initiated with a Neutral at RW Baird... AvalonBay (AVB) initiated with a Neutral at RW Baird... BE Aerospace (BEAV) initiated with a Buy at CRT Capital... BlackRock (BLK) initiated with a Buy at Argus... Camden Property (CPT) initiated with an Outperform at RW Baird... CarMax (KMX) initiated with a Buy at Evercore ISI... Central Pacific (CPF) initiated with a Neutral at Macquarie... Cognex (CGNX) initiated with a Buy at Northcoast... Education Realty (EDR) initiated with a Neutral at RW Baird... EnerSys (ENS) initiated with an Overweight at Stephens... Equity Lifestyle (ELS) initiated with an Outperform at RW Baird... Equity Residential (EQR) initiated with a Neutral at RW Baird... Essex Property Trust (ESS) initiated with a Neutral at RW Baird... Facebook (FB) initiated with a Buy at Brean Capital... Intercept (ICPT) initiated with a Hold at MLV & Co.... Isis Pharmaceuticals (ISIS) initiated with a Neutral at Janney Capital... LinkedIn (LNKD) initiated with a Sell at Brean Capital... Mid-America Apartment (MAA) initiated with an Outperform at RW Baird... NetSuite (N) initiated with a Hold at Brean Capital... Paycom (PAYC) initiated with a Buy at Brean Capital... Platform Specialty Products (PAH) initiated with a Buy at UBS... Post Properties (PPS) initiated with a Neutral at RW Baird... Salesforce.com (CRM) initiated with a Hold at Brean Capital... ServiceNow (NOW) initiated with a Buy at Brean Capital... Snap-On (SNA) initiated with a Buy at Northcoast... Sun Communities (SUI) initiated with a Neutral at RW Baird... Twitter (TWTR) initiated with a Buy at Brean Capital... UDR, Inc. (UDR) initiated with an Outperform at RW Baird... Workday (WDAY) initiated with a Hold at Brean Capital... Xplore Technologies (XPLR) initiated with a Buy at Roth Capital... Yahoo (YHOO) initiated with a Hold at Argus.
06:07 EDTPPSPost Properties initiated with a Neutral at RW Baird
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