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Stock Market & Financial Investment News

News Breaks
February 20, 2013
06:09 EDTBX, TMO, KKR, LIFEThermo Fisher unsure about Life Technologies deal, Reuters reports
The sale of Life Technologies (LIFE) for over $11B is looking less likely as a gap in price expectations with the company has left potential buyer Thermo Fisher Scientific (TMO) skeptical about a deal while buyout firms' offers came up short, sources say, reports Reuters. Reference Link
News For LIFE;TMO;BX;KKR From The Last 14 Days
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March 18, 2015
08:25 EDTKKRSamson near deal for covenant breach waiver, NY Post says
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08:10 EDTKKRAres Management names Michael McFerran as CFO
Ares Management, L.P. (ARES) announced that it has appointed Michael R. McFerran as Executive VP, CFO and Treasurer, effective March 23. McFerran will assume firm-wide CFO and Treasurer responsibilities. McFerran was previously a Managing Director at Kohlberg Kravis Roberts & Co. L.P. (KKR) where he served as the CFO of KKRís credit business and was the COO and CFO of KKR Financial Holdings LLC (KFN). Daniel F. Nguyen, Ares Managementís current CFO and Treasurer, will remain with Ares as CFO of the Ares Private Equity and Tradable Credit Groups and will continue his involvement with firm M&A activities. The CFO roles for each of the other two Ares investment groups, Direct Lending and Real Estate, will continue to be filled by Penni Roll and Tae-Sik Yoon, respectively. In addition, Roll will continue as CFO of Ares Capital Corporation (ARCC) and Yoon will continue as CFO of Ares Commercial Real Estate Corporation (ACRE).
07:27 EDTBXFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:08 EDTBXSome senior Blackstone execs may leave due to spin-off with PJT, Reuters says
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06:42 EDTKKRUxin raises $170M from KKR, Baidu, others, WSJ says
Chinese used car auctioneer Uxin has raised $170M from backers including KKR (KKR) and Baidu (BIDU), reports the Wall Street Journal. Uxin will primarily use the fund to expand its business-to-consumer operations to complete with rivals Bitauto (BITA) and Autohome (ATHM). Reference Link
March 17, 2015
14:21 EDTBXBlackstone unlikely to lead bid for Macerich, Bloomberg says
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07:53 EDTKKRMatson American Eagle Jack Henry named triple play at Oppenheimer
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07:25 EDTTMOSenate Finance Committee to hold a hearing
The Committee holds a hearing entitled, "Building a Competitive U.S. International Tax System" with Vice President of Tax at Thermo Fisher Scientific, Anthony Smith, on March 17 at 10 am. Webcast Link
March 16, 2015
12:43 EDTLIFEOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after stimulus talk out of China and a rally in European stock markets lifted the U.S. market at the open. There was little reaction to the dayís domestic economic reports, which included the Empire manufacturing index, industrial production data, and a homebuilder confidence index. The week's big economic news, however, is yet to come, as investors look forward to the conclusion of the Federal Reserve's latest rate setting meeting on Wednesday. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index dipped to 6.9 in March, versus the consensus forecast for a reading of 8.0. Industrial production edged up 0.1% in February, versus expectations for an increase of 0.2%, and capacity utilization fell to 78.9%, versus the 79.5% consensus forecast. The NAHB homebuilder sentiment index dropped to 53 in March from 55 in February, missing expectation for the index to rise to 56. Oil prices continued to tumble, with U.S. crude dropping to a six-year low below $44 per barrel earlier in the session. In Asia, Chinese Premier Li Keqiang said Sunday that his government has room and the tools to take action should growth falter, without detailing specific remedies the government might pursue. COMPANY NEWS: Valeant (VRX), which not long ago lost out to Actavis (ACT) in the race to buy Allergan (AGN), increased its chances of making sure its latest buyout deal gets done by increasing its takeover offer to Salix Pharmaceuticals (SLXP) by about $1B. Rival bidder Endo Health (ENDP) confirmed that it is withdrawing its cash and stock proposal to acquire Salix after Valeant raised its all-cash bid for Salix to $173 per share from $158 per share. Shares of Valeant and Salix both rose about 2%, while Endo shares gained 2.5% following the announcements. MAJOR MOVERS: Among the notable gainers was Life Time Fitness (LTM), which rose 5% after entering into a definitive agreement to be acquired by private equity firms Leonard Green & Partners and TPG in a transaction valued at more than $4B, or $72.10 per share, in cash. Also higher was Edwards Lifesciences (EW), which rose 8% after the company reported data at this weekend's American College of Cardiology conference. Among the noteworthy losers was iDreamSky (DSKY), which dropped more than 25% after the company lowered its guidance because the launch of a popular casual game was delayed on one of the company distribution platforms and the monetization of another popular casual game was less than expected. Also lower were shares of Enzo Biochem (ENZ), which fell 17% after an appeals court reversed-in-part and vacated-in-part the judgment in Enzoís favor that Life Technologies' (LIFE) Applera Corp. infringed certain Enzo patents. INDEXES: Near midday, the Dow was up 174.81, or 0.98%, to 17,924.12, the Nasdaq was up 39.80, or 0.82%, to 4,911.55, and the S&P 500 was up 20.07, or 0.98%, to 2,073.47.
11:40 EDTLIFEEnzo Biochem to request rehearing of court of appeals decision
Enzo Biochem (ENZ) said, acting upon advice of counsel, that it disagrees with the March 16 split 2-to-1 decision of the Court of Appeals sitting in panel for the Federal Circuit that reverses-in-part and vacates-in-part the judgment in Enzoís favor that Applera Corp., now Life Technologies (LIFE), infringed Enzoís patents covering pioneering technologies relating to compounds used in DNA sequencing systems to read the genetic code, and remands the case to the District Court as to whether the accused product infringes. Counter to the District Courtís construction of the Ď767 patent as allowing for directly-detectable labels on nucleotides and polynucleotides, and counter to the juryís verdict that the patent describes such labelling, the Court of Appeals, held such labelling excluded by claim 1 of that patent. Enzo notes also that the Courtís partial vacatur and reversal of the judgment does not end the case, but remands the case back to the District Court to find whether the accused product infringes. Enzo will request rehearing of that decision, both by the original panel and by the full en banc Court. Enzo believes rehearing is warranted by the panelís failure to give appropriate weight to fact findings, including facts found by the jury, consistent with a broader construction of the patent, as required by the Supreme Courtís recent decision in Teva Pharmaceuticals (TEVA).
09:30 EDTKKRConsortium wants to securitize $5.3B of debt from GE Capital, Reuters says
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09:02 EDTBXRedOwl announces investment by Blackstone
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08:35 EDTBXBlackstone, 233 South Wacker confirm agreement for sale of Willis Tower
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07:25 EDTKKRChinese consortium enters Philips auction, Reuters says
A consortium consisting of Lattice Power, GSR Ventures, and Temasek has placed a last-minute bid in the auction for Philips' (PHG) lighting components business, reports Reuters, citing two sources familiar with the matter. The sources also said the CVC and KKR (KKR) consortium tabled their potentially leading bid. Philips will enter exclusive talks with the winner early next week. Reference Link
06:10 EDTBXBlackstone buys Chicago's Willis Tower for $1.3B, WSJ reports
Blackstone executives say the firm has formed a deal to acquire the Willis Tower in Chicago for $1.3B, The Wall Street Journal reports. The deal for the former Sears Tower would be the highest price ever paid for a U.S. office tower outside of New York. Reference Link
05:53 EDTBXBlackstone looking to sell Center Parcs, The Sunday Times reports
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March 15, 2015
12:41 EDTKKRGE sells Australia-New Zealand consumer lending unit to consortium
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March 13, 2015
11:59 EDTBXREIT Zone says Macerich may see rival bid, Bloomberg reports
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09:49 EDTTMOUBS life science tools/diagnostics analyst has analyst/industry conference call
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08:15 EDTBXBlackstone in talks to acquire 40% stake in DLF cybercity, Economic Times says
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