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Stock Market & Financial Investment News

News Breaks
December 3, 2012
05:55 EDTPCP, PCPPrecision Castparts management to meet with Buckingham
Meeting to be held in Oregon on December 4 hosted by Buckingham.
News For PCP From The Last 14 Days
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August 31, 2015
07:37 EDTPCPBoeing uses contract power to control supplier consolidation, Reuters says
Boeing (BA) is using its clout as the world's largest plane market to stand in the way of control supplier consolidation, despite Berkshire Hathaway's (BRK.A) $37B deal for Precision Castparts (PCP), Reuters says. Private equity and strategic buyers have been crawling into the sector, with foreign companies recently eyeing deals, the report says. Boeing, on the other hand, may act like an unofficial regulator on such mergers and acquisitions due to an "assignability clause" included in many of its contracts with suppliers, which allows the company to refuse to transfer contracts to new owners, giving it a de facto veto over such deals, the report says. Reference Link
August 19, 2015
09:50 EDTPCPPrecision Castparts downgraded to Neutral from Buy at Citi
Citi last night downgraded Precision Castparts (PCP) to Neutral saying it does not see another potential buyer emerging to compete with Berkshire Hathaway (BRK.A). Berkshire's offer is likely a "good enough" outcome for Precision Castparts, CIti stated. It lowered its price target for shares to $235 from $246.
August 18, 2015
10:19 EDTPCPOptions with increasing implied volatility
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10:00 EDTPCPOn The Fly: Analyst Downgrade Summary
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06:12 EDTPCPPrecision Castparts downgraded to Neutral from Buy at UBS
UBS analyst David Strauss downgraded Precision Castparts (PCP) to Neutral saying a higher competing takeover bid to Berkshire Hathaway's (BRK.A) is unlikely to emerge. The analyst lowered his price target for Precision Castparts to $235 from $244.

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