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Stock Market & Financial Investment News

News Breaks
April 15, 2014
07:01 EDTPBHPrestige Brands to acquire Hydralyte from The Hydration Pharmaceuticals Trust
Prestige Brands announced the signing of a purchase agreement for the acquisition of Hydralyte in Australia and New Zealand from The Hydration Pharmaceuticals Trust of Victoria, Australia. The acquisition is expected to close, subject to customary closing conditions, during 1Q115, which began on April 1. The acquisition is projected to double the annual revenues of Care Pharmaceuticals, Prestige’s subsidiary in Australia, to approximately A$50M for FY15, and is expected to be accretive to Prestige’s EPS for FY15, exclusive of transaction, integration and purchase accounting items. Prestige acquired Care Pharmaceuticals in July 2013. Financial terms of the acquisition have not been disclosed. Prestige funded this acquisition, its fifth in the past five years, with a combination of cash on the balance sheet and its existing credit facility with very minimal impact on the company’s leverage ratio or M&A capacity.
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August 20, 2014
10:04 EDTPBHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BHP Billiton (BHP) downgraded to Underperform from Neutral at Credit Suisse... GT Advanced (GTAT) downgraded to Underperform from Outperform at CLSA... Hertz (HTZ) downgraded to Hold from Buy at Deutsche Bank... IDEXX (IDXX) downgraded to Sell from Neutral at Northcoast... Prestige Brands (PBH) downgraded to Neutral from Buy at Sidoti... Real Goods Solar (RGSE) downgraded to Neutral from Buy at Roth Capital... Regal-Beloit (RBC) downgraded to Neutral from Buy at Longbow... SunCoke Energy (SXC) downgraded to Neutral from Outperform at Credit Suisse... Tidewater (TDW) downgraded to Market Perform from Outperform at Clarkson Capital.
09:31 EDTPBHPrestige Brands downgraded to Neutral from Buy at Sidoti
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