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Stock Market & Financial Investment News

News Breaks
May 14, 2014
07:55 EDTRYL, RYL, BZH, BZH, LEN, LEN, KBH, KBH, WHR, WHR, WCIC, WCIC, TMHC, TMHC, HOV, HOV, CSTE, CSTEJPMorgan to hold a conference
7th Annual Homebuilding & Building Products Conference to be held in New York on May 14-15 with webcasted company presentations to begin on May 14 at 8 am. Webcast Link
News For RYL;BZH;LEN;KBH;WHR;WCIC;TMHC;HOV;CSTE From The Last 14 Days
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July 21, 2014
13:26 EDTHOVHovnanian target liquidity range $170M-$245M
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06:47 EDTWHRWhirlpool seeking ban on class action lawsuits over Energy Star, NY Times says
Whirlpool is asking Congress to ban class action lawsuits related to Energy Star, a federal program that is supposed to identify products that are energy efficient, according to The New York Times. The company is threatening to withdraw from the program is such a bill isn't passed, the newspaper stated. Class action lawsuits were filed against Whirlpool and other companies after it was revealed that many products identified as energy efficient by the program did not deserve the designation, the newspaper stated. A member of Congress whose district includes several Whirlpool factories has introduced legislation that would prohibit class action lawsuits related to Energy Star if the EPA makes its own remedies for the oversights, The Times reported. Reference Link
July 18, 2014
16:34 EDTKBHKB Home files automatic mixed securities shelf
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10:48 EDTBZHHigh option volume stocks
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10:03 EDTCSTEOn The Fly: Analyst Initiation Summary
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06:56 EDTCSTECaesarstone initiated with a Buy at BofA/Merrill
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July 16, 2014
11:29 EDTLENLennar management to meet with ISI Group
Meeting to be held in San Francisco on July 23 hosted by ISI Group.
11:25 EDTHOVHovnanian management to meet with Global Hunter
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July 15, 2014
13:23 EDTWHRU.S. major home appliance shipments rose 11.3% in June, Bloomberg reports
The Association of Home Appliance Manufacturers reported that U.S. shipments of major home appliances rose 11.3% in June to 7.51M units, Bloomberg reports. Shipments of washers, dryers, dishwashers, refrigerators, freezers, ranges and ovens rose 7.9% to 4.4M units.
July 11, 2014
05:27 EDTWHRWhirlpool to acquire majority interest in Indesit for $15.06 per share
Whirlpool and Fineldo S.p.A. announce that they have entered into a binding agreement for the sale of Fineldo's stake in Indesit. Whirlpool also entered into binding share purchase agreements with members of the Merloni family for their Indesit shares. Under these agreements, Whirlpool would acquire shares representing a total of 66.8% of the voting stock of Indesit. Whirlpool currently intends to finance this transaction through cash on hand, together with private, domestic and international public debt financing. The acquisition of control of Indesit is subject to judicial and antitrust approvals and is expected to close by the end of 2014. In this transaction, Whirlpool simultaneously entered into share purchase agreements with Fineldo for a 42.7% stake in Indesit, certain members of the Merloni family for a 13.2% stake in Indesit, and Claudia Merloni for a 4.4% stake in Indesit. This total of 60.4% of Indesit stock capital represents a 66.8% voting stake in Indesit, in light of the treasury shares held by Indesit. The purchase price under all three Share Purchase Agreements is $15.06 per Indesit share, resulting in a total expected purchase price of $1.04B. Under the Fineldo Agreement, however, the purchase price is subject to a possible pre-closing downwards or upwards adjustment based on Indesit's consolidated average net debt and net working capital. The purchase price is based on Indesit's average net debt position for 2013. Either party's breach of its obligation to consummate the transaction or Fineldo's breach of its exclusivity obligations requires payment of at least $54.8M in liquidated damages.
05:22 EDTWHRWhirlpool to acquire majority interest in Indesit for $15.06 per share
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