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Stock Market & Financial Investment News

News Breaks
July 8, 2014
07:33 EDTLXKLexmark releases statement on counter offer from Hyland Software for ReadSoft
Lexmark presented a revised offer to the shareholders of ReadSoft of SEK 43.00 on June 19, representing a 133.7% premium compared to the closing share price of SEK 18.40 per class B share in ReadSoft on the last trading day before the announcement of the initial offer on May 6. Lexmark's CEO Paul Rooke said, "We acknowledge Hyland Software's latest offer for ReadSoft and are evaluating an appropriate response... Lexmark is evaluating all of its options and will discuss with ReadSoft's Board of Directors at the appropriate time."
News For LXK From The Last 14 Days
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July 22, 2014
09:40 EDTLXKLexmark rallies after results, levels to watch
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08:25 EDTLXKLexmark sees FY14 gross profit margin to be flat
Sees FY14 operating expense will be lower YoY; Sees FY14 tax rate to be approximately 29%. Sees FY14 free cash flow in the low end of 90%-100% NI. Sees FY14 CapEx $140M.
08:24 EDTLXKLexmark sees Q3 gross profit margin down slightly YoY
Sees Q3 operating expense to be up slightly sequentially and operating margin to be down YoY. Sees Q3 effective tax rate of approximately 30%.
08:23 EDTLXKLexmark sees long-term revenue growth to be at or above market
Sees long-term operating income margin of 11%-13%. Comments taken from slides for Q2 earnings conference call.
06:44 EDTLXKLexmark raises FY14 EPS view to $3.95-$4.15 from $3.80-$4.00, consensus $3.93
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06:42 EDTLXKLexmark sees Q3 adjusted EPS 85c-95c, consensus 95c
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06:39 EDTLXKLexmark reports Q2 adjusted EPS 99c, consensus 93c
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July 15, 2014
10:00 EDTLXKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Adecogro (AGRO) downgraded to Underperform from Neutral at BofA/Merrill... Campbell Soup (CPB) downgraded to Sell from Neutral at Goldman... Credicorp (BAP) downgraded to Neutral from Overweight at JPMorgan... El Paso Pipeline (EPB) downgraded to Neutral from Buy at Citigroup... Kellogg (K) downgraded to Sell from Neutral at Goldman... Kodiak Oil & Gas (KOG) downgraded to Market Perform from Outperform at BMO Capital... Lexmark (LXK) downgraded at Bernstein... Maxim Integrated (MXIM) downgraded to Equal Weight from Overweight at Barclays... Republic Airways (RJET) downgraded to Underperform from Neutral at BofA/Merrill... Sasol (SSL) downgraded to Neutral from Buy at Citigroup... Time Warner (TWX) downgraded to Equal Weight from Overweight at Evercore.
06:26 EDTLXKLexmark downgraded at Bernstein
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06:22 EDTLXKLexmark downgraded to Underperform from Market Perform at Bernstein
July 14, 2014
07:35 EDTLXKLexmark increases tender offer price for all outstanding shares of ReadSoft
Lexmark has increased its cash tender offer price for all of the outstanding shares of Sweden-based ReadSoft to Swedish Krona 50.00, a 16% increase from Lexmark's prior offer of SEK 43.00, for each Class A and Class B share of ReadSoft for a price of approximately $224M, net of cash acquired. Lexmark made the decision to increase its tender offer price in response to a competitive offer for ReadSoft shares announced on July 7. This cash offer by Lexmark of SEK 50.00 is 11% higher than the most recent competitive offer. Lexmark has also directly acquired shares in ReadSoft and now owns approximately 5.3% of all outstanding shares in ReadSoft. The new offer period will begin on or about August 7 and run to August 28, unless otherwise extended. Settlement of the tender offer is expected to occur around September 4, after the end of the offer period.
July 9, 2014
10:02 EDTLXKLexmark downgraded to Buy from Strong Buy at Tigress Financial
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