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Stock Market & Financial Investment News

News Breaks
July 9, 2014
10:02 EDTLXKLexmark downgraded to Buy from Strong Buy at Tigress Financial
News For LXK From The Last 14 Days
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March 25, 2015
16:21 EDTLXKOn The Fly: Closing Wrap
Stocks opened in quiet fashion and trading remained that way throughout most of the morning. The averages broke to the downside a bit before noon and once the sellers gained control the move became broad based. Each of the major equity averages dropped by about 1.5% or more, with the Nasdaq losing more than 2% of its value during the session. ECONOMIC EVENTS: In the U.S., durable goods orders dropped 1.4% in February, falling well below the consensus call for a 0.2% rise for the month. Transportation orders fell 3.5%, with orders excluding transportation down 0.4% against expectations of a 0.2% positive movement. In Europe, Germany's Ifo institute business climate index rose to 107.9 from 106.8 in March, topping expectations. COMPANY NEWS: Kraft Foods (KRFT) surged $21.84, or 35.62%, to $83.17 after announcing it has entered a definitive merger agreement with H.J. Heinz to create the Kraft Heinz Company. Under the terms of the deal, Heinz-owners Berkshire Hathaway (BRK.A) and 3G Capital will fund a special $10B cash dividend of $16.50 per share for Kraft shareholders. The new company, which will be publicly traded and 49% owned by current Kraft shareholders 51% owned by current Heinz shareholders, will become the third-largest food and beverage company in North America and fifth largest food and beverage company in the world. MAJOR MOVERS: Among the notable gainers was Kofax (KFX), which jumped $3.45, or 46%, to $10.95 after agreeing be acquired by Lexmark (LXK) for $11.00 per share in cash for a total enterprise value of approximately $1B, net of cash acquired. Lexmark, which stated the deal will "nearly double" its enterprise software business to roughly $700M, also gained $2.48, or 6.08%, to $43.27. Among the noteworthy losers was Apollo Education Group (APOL), which fell $7.95, or 28.4%, to $20.04 after reporting Q2 earnings and University of Phoenix enrollment information. Also lower were shares of Nationstar Mortgage (NSM), which declined $5.15, or 16.54%, to $25.99 after its 17.5M share spot secondary offering of stock priced at $28.95 per share. INDEXES: The Dow declined 292.60, or 1.62%, to 17,718.54, the Nasdaq fell 118.21, or 2.37%, to 4,876.52, and the S&P 500 dropped 30.45, or 1.46%, to 2,061.05.
13:08 EDTLXKLexmark acquisition could put floor in shares, says Brean Capital
Brean Capital believes Lexmark's (LXK) acquisition of Kofax (KFX) could put a floor in the stock. It estimates the deal could add at least $1.20 to normalized earnings per share. Brean keeps a Hold rating on Lexmark.
12:52 EDTLXKOn The Fly: Midday Wrap
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10:03 EDTLXKHigh option volume stocks
High option volume stocks: NVO SXC SONC EXH KRFT WLB ETR LXK APOL EWH
09:24 EDTLXKOn The Fly: Pre-market Movers
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March 24, 2015
19:40 EDTLXKOn The Fly: After Hours Movers
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19:30 EDTLXKKofax, Lexmark shares both up after Lexmark agrees to acquire Kofax
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17:37 EDTLXKKofax shares up 45% after being acquired by Lexmark
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16:37 EDTLXKLexmark to acquire Kofax for $11 per share in cash
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16:32 EDTLXKLexmark to acquire Kofax for $11 per share in cash
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