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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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October 30, 2014
05:31 EDTNPOEnPro 'cautiously optemistic' that Q4 will be near Q3 results
Steve Macadam, EnPro president and CEO, stated, “We are cautiously optimistic that sales for Q4 will be near Q3's level. OEM order activity remains firm in our semiconductor, aerospace and trucking markets and we have a substantial shippable backlog in Power Systems in the fourth quarter. However, margins generated by engine revenues and OEM sales are generally lower than our aftermarket margins. As a result, fourth quarter segment margins may be lower than those we reported in Q3. We remain excited about the longer term benefits from a number of strategic growth initiatives underway and the potential for additional growth that our new capital structure affords us.".
05:28 EDTNPOEnPro reports Q3 adjusted EPS 75c, consensus 42c
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