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Stock Market & Financial Investment News

News Breaks
February 11, 2013
08:07 EDTRLDRealD announces resignation of James Cameron from board of directors
RealD announced the resignation of James Cameron from its Board of Directors due to the rigorous demands of his filmmaking commitments.
News For RLD From The Last 14 Days
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October 2, 2014
12:30 EDTRLDOn The Fly: Midday Wrap
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12:15 EDTRLDRealD rallies after receiving takeover bid, analysts say price too low
Shares of RealD (RLD) are surging after activist investment firm Starboard Value offered to buy the company for $12 per share. Two research firms wrote that Starboard's offer for RealD was too low. RealD licenses technology that is used to create 3D motion pictures and alternative 3D content. WHAT'S NEW: Starboard Value offered to buy RealD for $12 per share, after raising its stake in the tech company to 9.9% from 9.1%. The offer represented a premium of 29% over yesterday's closing price for the stock of $9.27, Starboard noted. RealD said this morning that it would consider the offer. ANALYST REACTION: Piper Jaffray analyst James Marsh, noting that he has a $15 price target on RealD, said he "might disagree with" the price offered by Starboard, but does agree with Starboard that the shares are undervalued. Starboard is likely to raise its offer and RealD's stock has reached a good entry point, Marsh contended. He kept an Overweight rating on the shares. Similarly, B. Riley analyst Eric Wold wrote that a purchase price of $12 per share would be "a steal," and other bidders may emerge or the offer may rise. Dolby (DLB) and IMAX (IMAX) could benefit from an acquisition of RealD, Wold stated. PRICE ACTION: In early afternoon trading, RealD jumped 28% to $11.88.
09:04 EDTRLDOn The Fly: Pre-market Movers
HIGHER: Esperion (ESPR), up 29% after ETC-1002-008 Phase 2b study meets primary endpoint... Tesla (TSLA), up 5% after CEO Elon Musk said via a Twitter that it was "time to unveil the D and something else"... RealD (RLD), up 24.6% after Starboard Value offered $12.00 per share to acquire company... Twitter (TWTR), up 2% after upgraded at JPMorgan... Walter Energy (WLT), up 14% after U.K. paper discussed rumors of the company being a takeover target... Autodesk (ADSK), up 2% after upgraded at Cowen, Credit Suisse and Citigroup following the company's new CFO appointment, reiterated guidance yesterday... LOWER: Cree (CREE), down 13% after warning Q1 EPS and revenue will miss prior outlook. Aixtron (AIXG) is down 3.4% and Veeco (VECO) is down 5% following Cree's profit warning... NewLink Genetics (NLNK), down 4.8% after terminating CFO... Wi-Lan (WILN), down 14.6% after a judge grants Apple's (AAPL) motion for summary judgment in litigation... Constellation Brands (STZ), down 2.8% after Q2 earnings, announcement of deal to buy assets from AB InBev (BUD) as part of glass sourcing strategy
06:23 EDTRLDRealD buyout offer likely to move higher, says Piper Jaffray
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05:32 EDTRLDRealD takeout proposal by Starboard too low, says B. Riley
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05:18 EDTRLDRealD comments on unsolicited non-binding indication of interest from Starboard
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October 1, 2014
18:36 EDTRLDOn The Fly: After Hours Movers
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17:33 EDTRLDRealD up 10.5% after hours following Starboard Value $12 per share buyout offer
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17:31 EDTRLDStarboard Value raises stake in RealD to 9.9% from 9.1%, proposes $12 buyout
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