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News Breaks
February 20, 2013
16:52 EDTCHTP, OMX, TSS, CAT, ODP, NTSP, TRI, HNROn The Fly: Closing Wrap
Stocks on Wall Street were lower as each of the major averages dropped after the minutes from the last FOMC meeting indicated several Fed members are ready to vary the pace of bond buying... ECONOMIC EVENTS: In the U.S., housing starts dropped 8.5% to a 890K rate in January, which was less than forecast. However, building permits were up 1.8% in the month, versus expectations for an increase of 1.2%. Producer prices in January rose 0.2%, versus expectations for an increase of 0.3%. The core producer price inflation figure, which excludes volatile food and energy components, rose 0.2%, which was in line with expectations. The minutes from the FOMC's Jan 29-30 meeting, released at 2 pm ET, said that several Fed members are concerned about the costs and risks of additional asset purchases. Several members of the committee said the Fed should be prepared to vary the pace of asset purchases, as the committee members continued to see moderate economic growth and gradually declining unemployment... COMPANY NEWS: The Office Depot (ODP) and OfficeMax (OMX) merger, reported over the long holiday weekend by the Wall Street Journal, was formally announced by the companies. However, the confirmation was inadvertently released on Office Depot's website ahead of the joint announcement, an error for which Thomson Reuters (TRI) later took responsibility. Shares of both companies, which had run-up after the WSJ story, declined following the confirmation, with Office Depot losing 84c, or 16.73%, to $4.18 and OfficeMax falling $91c, or 7%, to $12.09... Dow member Caterpillar (CAT) dropped $2.38, or 2.49%, to $93.22 after disclosing that global retail machine sales were down 4% in the three month rolling period ending January 31... MAJOR MOVERS: Among the notable gainers were shares of Chelsea Therapeutics (CHTP), up $1.14, or 149.51%, to $1.91 after the company received FDA guidance for a Northera new drug application resubmission and the stock was upgraded to Buy at Ladenburg. Also higher was NetSpend (NTSP), up $3.52, or 28.64%, to $15.81 after agreeing to be acquired by Total Systems (TSS) for $16 per share. Shares of buyer Total Systems lost $1.51, or 6.43%, to $21.97 following the acquisition. Also lower were shares of Harvest Natural Resources (HNR), down $3.71, or 40.5%, to $5.45 after its agreement to sell interests in Venezuela was terminated since the government of Indonesia voted against the transaction... INDICES: The Dow was down 108.13, or 0.77%, to 13,927.54; the Nasdaq was down 49.18, or 1.53%, to 3,164.41; and the S&P 500 was down 18.99, or 1.24%, to 1,511.95.
News For ODP;OMX;TRI;CAT;CHTP;NTSP;TSS;HNR From The Last 14 Days
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February 12, 2016
16:58 EDTOMX, ODPOffice Depot reduces board to ten directors
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06:32 EDTTRIThomson Reuters increases NCIB by 9.2M shares
Thomson Reuters announced that it has received approval from the Toronto Stock Exchange to amend its normal course issuer bid,. or NCIB, in connection with the company's previously announced plans to purchase up to an additional $1.5B of its shares. The amended NCIB increases the maximum number of common shares that may be repurchased by an additional 9.2M. Under the amended NCIB, up to 39.2M common shares may now be repurchased between May 28, 2015 and May 27, 2016. The NCIB, as originally approved in May 2015, contemplated the repurchase of up to 30M common shares.
February 11, 2016
06:39 EDTTRIThomson Reuters reports Q4 Financial & Risk revenue $1.53B
Reports Q4 Legal revenue revenue $867M, Tax & Accounting revenue $410M, Intellectual Property & Science revenue $274M.
06:38 EDTTRIThomson Reuters increases annual dividend to $1.36
The Thomson Reuters board approved a 2c per share annualized increase in the dividend to $1.36 per common share. A quarterly dividend of 34c per share is payable on March 15, 2016 to common shareholders of record as of February 23, 2016.
06:37 EDTTRIThomson Reuters sees FY16 revenue growth in low single digits, consensus $12.49B
Sees FY16 adjusted EBITDA margin to range between 27.3%-28.3%. Sees FY16 underlying profit margin to range between 18.4%-19.4%. Sees FY16 free cash flow $1.7B-$1.9B.
06:36 EDTTRIThomson Reuters reports Q4 adjusted EPS 65c, consensus 58c
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February 10, 2016
06:17 EDTODPStaples receives approval from European Union to acquire Office Depot
Staples (SPLS) has received approval from the European Union to acquire Office Depot (ODP). The acquisition has been approved in Australia, New Zealand, China, and Europe. The European Commission approved the acquisition on the condition that Staples divest Office Depot's European contract business and all of Office Depot's operations in Sweden. Staples will meet these requirements, and the parties have decided that they will also divest Office Depot's retail, online and catalog operations in Europe in connection with closing the transaction. The merger is the subject of ongoing litigation with the U.S. Federal Trade Commission as well as the Canadian Competition Bureau. The companies recently announced the completion of financing arrangements and the extension of their merger agreement from February 4 to May 16.
February 5, 2016
06:23 EDTCAT20 companies make alliance to keep down healthcare costs, WSJ says
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February 4, 2016
15:59 EDTCATOptions Update; February 4, 2016
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February 2, 2016
16:02 EDTODPStaples, Office Depot finalize merger agreement extension
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