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Stock Market & Financial Investment News

News Breaks
April 30, 2014
07:19 EDTATK, ORBOrbital Sciences move positive, says Stifel
After Orbital (ORB) and ATK (ATK) announced that their defense and aerospace units would merge, Stifel thinks the transaction will enable Orbital to significantly increase its rocket and satellite capabilities, allowing it to compete more effectively against larger companies. The firm keeps a Buy rating on Orbital.
News For ORB;ATK From The Last 14 Days
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November 19, 2014
17:30 EDTORB, ATKATK reaffirms FY15 standalone guidance
17:25 EDTATK, ORBATK Sporting strategy remains on track
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17:23 EDTORB, ATKATK board continues to support merits of Orbital transaction
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17:18 EDTATK, ORBATK says CRS impact on Orbital earnings, cash flow minimal
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November 18, 2014
12:51 EDTORBOrbital awarded $185M contract by NASA
Orbital Sciences Corporation announced that its Technical Services Division in Greenbelt, MD was awarded a contract by NASA to operate the space agency’s Science Balloon Operations program. The contract, which was won in a competitive selection process, is valued up to approximately $185M over its five-year term.
06:39 EDTATKATK to host business news update conference call
Conference call to discuss transaction with Orbital and on the Sporting Group business will be held on November 19 at 4:30 pm. Webcast Link
November 17, 2014
18:01 EDTATK, ORBATK, Orbital continue to support plans for merger
Alliant Techsystems (ATK) and Orbital Sciences (ORB) announced that the two companies have set January 27, 2015 as the new date for their separate, special stockholder meetings in connection with the proposed transaction to spin off ATK's Sporting Group business and immediately thereafter, merge ATK's Aerospace and Defense Groups with Orbital. On October 28, both companies communicated they would hold separate, special stockholder meetings on December 9, for ATK stockholders to vote on the issuance of shares to stockholders of Orbital and for Orbital stockholders to vote on the proposed transaction. Following this announcement on October 28, a failure occurred during Orbital's Antares launch. Since the incident, the companies have conducted a thorough review and analysis of the launch failure and Orbital's proposed recovery plan and long-term competitive position. Following this review, ATK's board of directors continues to support the strategic merits of the transaction and recommends that ATK stockholders vote to approve the issuance of shares to Orbital stockholders. Orbital's board of directors also continues to recommend that Orbital stockholders vote to approve the proposed transaction. As a result of the Antares launch failure and the time required to complete the subsequent review process, the companies have postponed the special stockholder meetings until January 27, 2015, to be held at each company's respective corporate headquarters. ATK and Orbital stockholders of record as of the close of business on December 16 will be entitled to vote at their respective special stockholder meetings. The record date for the spinoff will be determined and publicly announced at a later date. The transaction is expected to close in February 2015, and is subject to customary closing conditions including regulatory approvals and the approval of both ATK's and Orbital's stockholders. Additional information concerning the special meetings and the transaction will be included in an amendment to the ATK registration statement on Form S-4, which will be filed with the Securities and Exchange Commission and, once declared effective, the joint proxy statement/prospectus will be mailed to ATK and Orbital stockholders who are entitled to vote at the respective special meetings.
07:27 EDTATKATK upgraded to Buy from Neutral at Monness Crespi
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November 13, 2014
10:01 EDTATKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ATK (ATK) downgraded to Hold from Buy at Argus... Adeptus Health (ADPT) downgraded to Hold from Buy at Deutsche Bank... American Woodmark (AMWD) downgraded to Neutral from Buy at Longbow... Avnet (AVT) downgraded to Sell from Neutral at Goldman... Baxano Surgical (BAXS) downgraded to Sell from Buy at Summer Street... Beazer Homes (BZH) downgraded to Neutral from Overweight at JPMorgan... Bristol-Myers (BMY) downgraded to Equal Weight from Overweight at Morgan Stanley... Centene (CNC) downgraded to Market Perform from Outperform at FBR Capital... Cherry Hill Mortgage (CHMI) downgraded to Equal Weight from Overweight at Barclays... Discover (DFS) downgraded to Hold from Buy at Deutsche Bank... Fleetmatics (FLTX) downgraded to Neutral from Buy at BofA/Merrill... Gazprom (OGZPY) downgraded to Neutral from Overweight at JPMorgan... Jabil Circuit (JBL) downgraded to Neutral from Buy at Goldman... LabCorp (LH) downgraded to Hold from Buy at Deutsche Bank... Laredo Petroleum (LPI) downgraded at BMO Capital... Macy's (M) downgraded to Market Perform from Outperform at Wells Fargo... Madison Square Garden (MSG) downgraded to Equal Weight from Overweight at Morgan Stanley... Marvell (MRVL) downgraded to Sell from Neutral at Goldman... Meritor (MTOR) downgraded to Neutral from Overweight at Piper Jaffray... Swedbank (SWDBY) downgraded to Underperform from Sector Perform at RBC Capital... TransGlobe (TGA) downgraded to Sector Perform from Outperform at Scotia Capital... UIL Holdings (UIL) downgraded to Hold from Buy at Argus... Verint Systems (VRNT) downgraded to Fair Value from Buy at CRT Capital... ZAIS Financial (ZFC) downgraded to Equal Weight from Overweight at Barclays.
08:12 EDTATKATK downgraded to Hold from Buy at Argus
Argus downgraded ATK to Hold citing an uncertain outlook with the proposed Orbital Sciences merger under review after the Antares rocket exploded.
07:39 EDTORBOrbital claim on Antares financial impact may be reasonable, says Wells Fargo
After Orbital said the financial impact from the recent Antares launch failure should not be material, Wells Fargo says the claim may be reasonable. The firm says the non-Antares rockets the company now plans to launch should cost roughly the same as the remaining Antares rockets it was going to launch. The firm keeps an Outperform rating on Orbital.
November 10, 2014
12:54 EDTORB, ATKOrbital ATK lays out guidance for combined company
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