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Stock Market & Financial Investment News

News Breaks
April 7, 2014
05:42 EDTLFRGY, CX, MLM, VMC, TXI, EXPHolcim, Lafarge confirm intention to combine via merger of equals
Holcim and Lafarge (LFRGY) announced their intention to combine the two companies through a merger of equals, approved by their respective boards and fully supported by the core shareholders of both companies. LafargeHolcim would be listed on the SIX in Zurich and Euronext Paris. Bernard Fontana, Holcim CEO will remain in charge of Holcim until completion of the transaction. He will co-chair the integration committee. The proposed combination would be structured as a public offer filed by Holcim for all outstanding shares of Lafarge on the basis of a 1 for 1 exchange ratio with an agreement to have equal dividends on a per share basis between announcement and completion. Completion is expected by the end of first half of 2015 subject to obtaining regulatory approvals. Both companies combined sales amount to c. CHF 39B / EUR 32B and Ebitda to c. CHFB / EUR 6.5B. Names in the cement space include CEMEX (CX), Martin Marietta (MLM), Vulcan Materials (VMC), Texas Industries (TXI) and Eagle Materials (EXP).
News For LFRGY;CX;MLM;VMC;TXI;EXP From The Last 14 Days
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October 21, 2014
10:00 EDTEXPOn The Fly: Analyst Upgrade Summary
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09:31 EDTEXPEagle Materials, GenCorp mentioned positively by Lerner, Bloomberg reports
Chesapeake Partners' Traci Lerner is said to have mentioned Eagle Materials (EXP), GenCorp (GY), Barnes & Noble (BKS) and American Airlines (AAL) as stocks she likes, according to Bloomberg, citing comments made by Lerner at the Robin Hood Conference.
07:24 EDTEXPEagle Materials upgraded to Buy from Hold at Stifel
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06:28 EDTEXPEagle Materials upgraded to Buy from Hold at Stifel
October 17, 2014
06:02 EDTEXPEagle Materials to acquire CRS Proppants for $225M
Eagle Materials announced that the company has entered into a definitive agreement to acquire CRS Proppants and its subsidiaries, including Great Northern Sand, a supplier of high-quality northern-white frac-sand to the energy industry. CRS Proppants’ operations include: A northern-white frac-sand mine and processing facility in Wisconsin that is currently being expanded from approximately one million to two million tons per year capacity; Existing long-term sales contracts with targeted customers for approximately 85% of the two million tons per year of capacity; UP rail-based trans-load network from the mine into the Permian and other target basins. The cash purchase price of approximately $225M is subject to adjustments for working capital and other items, and will be funded by operating cash flow and borrowings under Eagle’s bank credit facility. Revenues, EBITDA and earnings before income taxes from continuing operations for the nine-months through September 30, 2014 for CRS Proppants were $64.7M, $12.2M and $8.7M, respectively. The acquisition is expected to be immediately accretive and synergies of $5M are expected to be realized within the first 12 months. The acquisition will roughly double Eagle’s frac-sand production capacity and expand Eagle’s frac-sand reserves. Under the definitive agreement, the acquisition is subject to certain customary conditions, including clearance under the Hart-Scott-Rodino Act. The company currently expects that the acquisition will close during Eagle’s third fiscal quarter of the current year.
October 16, 2014
08:31 EDTVMCVulcan Materials changes organizational and leadership structure
Vulcan Materials announced new division leadership and changes to its organizational structure. The new structure, effective January 1, 2015, will be as follows: the Western Division, comprising the company's businesses in California; the Mountain West Division, comprising Arizona and New Mexico; the Southwest Division, comprising the company's businesses in Texas and Oklahoma; the Central Division, comprising Arkansas, Tennessee, Kentucky and Illinois; the Mideast Division, comprising North Carolina, Virginia, Maryland, Pennsylvania and Delaware; the Southern and Gulf Coast Division, comprising Alabama, Mississippi and Louisiana; and the Southeast Division, comprising Florida, Georgia and South Carolina.
October 9, 2014
10:00 EDTVMCOn The Fly: Analyst Initiation Summary
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10:00 EDTVMCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Acuity Brands (AYI) upgraded at Oppenheimer... Agnico-Eagle (AEM) upgraded to Buy from Hold at Desjardins... Apple (AAPL) upgraded to Outperform from Perform at Oppenheimer... Bank of Montreal (BMO) upgraded to Buy from Hold at Canaccord... Basic Energy (BAS) upgraded to Hold from Underperform at Jefferies... BreitBurn Energy (BBEP) upgraded to Outperform from Perform at Oppenheimer... Golden Minerals (AUMN) upgraded at Roth Capital... Helmerich & Payne (HP) upgraded to Buy from Hold at Jefferies... II-VI (IIVI) upgraded to Buy from Neutral at DA Davidson... LivePerson (LPSN) upgraded at Credit Suisse... Luminex (LMNX) upgraded to Market Perform at Cowen... MGM Resorts (MGM) upgraded at Craig-Hallum... New Gold (NGD) upgraded to Buy from Hold at Desjardins... New Source Energy (NSLP) upgraded to Outperform from Perform at Oppenheimer... Pacific Coast Oil (ROYT) upgraded to Buy from Hold at Stifel... Pioneer Energy (PES) upgraded to Buy from Hold at Jefferies... Precision Drilling (PDS) upgraded to Strong Buy from Outperform at Raymond James... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Resource Capital (RSO) upgraded to Buy from Hold at MLV & Co.... Toyota (TM) upgraded to Buy from Neutral at BofA/Merrill... Transocean (RIG) upgraded to Outperform from Sector Perform at Iberia... Universal Technical (UTI) upgraded to Outperform from Market Perform at Wells Fargo... Vulcan Materials (VMC) upgraded to Buy from Neutral at Longbow.
07:42 EDTVMCVulcan Materials initiated with a Buy at BofA/Merrill
Target $70.
07:42 EDTMLMMartin Marietta initiated with a Buy at BofA/Merrill
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06:41 EDTLFRGYLafarge close to approaching EC for Holcim merger approval, Reuters says
Lafarge (LFRGY) and Holcim (HCMLY) are close to approaching the European Commission regarding their approval request for their proposed merger agreement, according to Reuters, citing comments from Lafarge CEO Bruno Lafont. The CEO said that the deal was on schedule to close in 1H15. Reference Link
06:13 EDTVMCVulcan Materials upgraded to Buy from Neutral at Longbow
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