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Stock Market & Financial Investment News

News Breaks
April 6, 2014
14:38 EDTLFRGY, VMC, MLM, TXI, EXP, CXEuropean cement makers Lafarge, Holcim approve $50B merger, WSJ says
Two of the world's largest cement makers, France's Lafarge (LFRGY) and Switzerland's Holcim agreed to a $50B merger, says the Wall Street Journal. The cement companies' boards met separately on Saturday and approved the deal, added the Wall Street Journal. Other names in the cement and buildings materials space include Vulcan Materials (VMC), Martin Marietta (MLM), Texas Industries (TXI), Eagle Materials (EXP) and CEMEX (CX). Reference Link
News For LFRGY;VMC;MLM;TXI;EXP;CX From The Last 14 Days
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October 23, 2014
07:34 EDTCXCEMEX reports Q3 consolidated sales $4.1B, consensus $4.27B.
During Q3, controlling interest net income was a loss of $106M.
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.

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