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Stock Market & Financial Investment News

News Breaks
March 29, 2013
11:54 EDTNPOConversion right triggered on EnPro's convertible senior debentures
EnPro Industries announced that commencing April 1, the company's $172,500,000 aggregate principal amount of 3.9375% Convertible Senior Debentures due 2015 will be convertible by holders of the Debentures. This conversion right has been triggered because the closing price per share of EnPro’s common stock has exceeded $43.93, or 130% of the initial conversion price of $33.79, for at least 20 of 30 consecutive trading days during the period ending on March 31. At the time of the sale of the Debentures, a portion of the net proceeds was used to enter into call options, hedge and warrant transactions, which entitle the company to purchase shares of its common stock from a financial institution at $33.79 per share and entitle the financial institution to purchase shares from the company at $46.78 per share. These transactions reduce potential dilution to holders of the company’s common stock from conversion of the Debentures by increasing the effective conversion price to $46.78 a share.
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July 31, 2014
07:36 EDTNPOEnPro sees 'improved' results in most business for balance of year
The company said, "We expect improved results in most of our businesses for the balance of the year as we benefit from activity in our markets and internal developments. Order activity remains robust in our semiconductor, aerospace and trucking markets, and orders have improved in the process industries served by the Garlock family of companies and CPI. The company also pointed out that the company expects second half revenues and segment profits in the Power Systems segment to increase over the 1H14 and 2H13, primarily as a result of higher engine revenues and stronger aftermarket sales. At the same time we are seeing these developments in our markets, we also expect to benefit longer term from a number of strategic growth initiatives underway, including our investments in the Stemco distribution center, the new opposed piston engine in Power Systems, and focused business development efforts across the company."
07:34 EDTNPOEnPro reports Q2 adjusted EPS 57c, consensus 59c
Reports Q2 revenue $313.1M, consensus $312.57M.

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