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Stock Market & Financial Investment News

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May 28, 2014
10:52 EDTSBGL, DSW, NES, CAKE, IR, TPH, GPRE, NEPT, AU, KORSHigh option volume stocks
High option volume stocks: SBGL AU NEPT GPRE TPH IR CAKE NES DSW KORS
News For SBGL;AU;NEPT;GPRE;TPH;IR;CAKE;NES;DSW;KORS From The Last 14 Days
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August 19, 2014
07:52 EDTIRIngersoll-Rand downgraded at RW Baird
As reported previously, Baird downgraded Ingersoll Rand to Neutral from Outperform. The firm downgraded shares to reflect increased earnings risk as the company shifts towards M&A and away from buybacks and sees tougher comps and slow Institutional end markets in 2015. Price target lowered to $65 from $68.
07:36 EDTIRIngersoll-Rand downgraded to Neutral from Outperform at RW Baird
August 18, 2014
12:19 EDTIRIngersoll-Rand rises after agreeing to buy Cameron unit for $850M
Shares of Ingersoll-Rand (IR), which makes heating and air conditioning systems, are up after it announced an agreement to acquire the assets of Cameron International Corporation's (CAM) Centrifugal Compression division for $850M. WHAT'S NEW: Ingersoll-Rand this morning entered into an agreement to acquire Cameron's Centrifugal Compression division for $850M. The acquisition is expected to close before the end of the year, subject to regulatory approval. The Cameron unit generated sales of approximately $400M in 2013, has approximately 850 employees and operates from 12 global locations. The results of operations of the Centrifugal Compression business will be reported as discontinued operations for Cameron beginning in the third quarter. Ingersoll Rand plans to fund the acquisition through a combination of cash on hand and debt. WHAT'S NOTABLE: Ingersoll-Rand said it expects the acquisition to be accretive to EBITDA margins, EPS, and ROIC in 2015 and beyond. The company expects the acquisition to add 8c-10c per share to its earnings in 2015. The company anticipates moderate incremental debt, supported by additional earnings from Cameron and core earnings growth. Ingersoll adds that it foresees refinancing of $500M of 2015 debt, and continues to expect a 2014 share repurchase of $1.38B. Cameron said it is selling the unit to focus on its core markets. The company expects after-tax proceeds of about $600M from the sale, part of which it planned to use to support share buybacks. ANALYST REACTION: Following the announcement, Wells Fargo analysts estimated that the acquisition will be approximately 10c-15c accretive excluding impact from synergies and approximately 20c-25c with anticipated synergies. PRICE ACTION: Ingersoll-Rand jumped $1.49, or 2.46%, to $62.03 in intra-day trading, while Cameron is trading down 0.6% to $72.21.
08:36 EDTTPHTRI Pointe Homes acquires 649 lots for seven new communities
TRI Pointe (TPH) announced the acquisition of 649 lots for seven new communities in markets across the country, expanding its presence in California, Nevada, Washington state and Virginia. This comes on the heels of TRI Pointe’s $2.8B merger with Weyerhaeuser’s (WY) home-building subsidiary, Weyerhaeuser Real Estate.
06:33 EDTIRIngersoll-Rand to host conference call
Conference call to discuss agreement to acquire Cameron International Corporation’s centrifugal compression division will be held on August 18 at 9:30 am. Webcast Link
06:32 EDTIRCameron sells Centrifugal Compression business to Ingersoll-Rand for $850M
Cameron (CAM) has announced that it has entered into a definitive agreement to sell its Centrifugal Compression business to Ingersoll Rand (IR) for cash consideration of approximately $850M, subject to closing adjustments. The decision to divest the Centrifugal Compression division was made after a careful review of Cameron's long-term business strategy to increase its focus on its core markets. The company's goal has been to identify a buyer that is more closely aligned with Centrifugal Compression's broad and global markets. Cameron expects to complete the sale of its Centrifugal Compression business prior to year end, subject to regulatory approval. The company estimates after tax proceeds from the sale to be approximately $600 million, and expects the net proceeds to support stock repurchases. In 2013, the Centrifugal Compression division had revenues of $396M. The results of operations of the Centrifugal Compression business will be reported as discontinued operations beginning in Q3.
06:31 EDTIRCameron sells Centrifugal Compression business to Ingersoll-Rand for $850M
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06:27 EDTIRIngersoll Rand to acquire Cameron's centrifugal compressional division for $850M
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August 14, 2014
17:20 EDTIRTrian Fund gives quarterly update on stakes
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08:19 EDTGPREGreen Plains board increases quarterly dividend by 100% to 8c
The company's board declared a quarterly cash dividend of 8c per share on the company's common stock. The cash dividend announced represents a 100% increase from the previous quarterly cash dividend. The dividend will be payable on September 18 to shareholders of record as of the close of business August 28.
08:18 EDTGPREGreen Plains board announces share repurchase program
Green Plains announced that its board has approved a share repurchase program of up to $100M of the company's shares of common stock effective immediately. Under the share repurchase program, Green Plains may repurchase shares from time to time in open market transactions, privately negotiated transactions, accelerated share buyback programs, tender offers or by other means. The timing and amount of repurchase transactions will be determined by the company's management based on its evaluation of market conditions, share price, legal requirements and other factors. The program may be suspended, modified or discontinued at any time without prior notice.
08:15 EDTNEPTNeptune says production ramp-up on target
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August 13, 2014
10:14 EDTNESNuverra Environmental management to meet with Needham
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07:32 EDTKORSMichael Kors pullback a buying opportunity, says Deutsche Bank
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August 12, 2014
16:32 EDTKORSOn The Fly: Closing Wrap
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11:21 EDTKORSKate Spade falls as company remains 'cautious' on FY16 margin outlook
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August 11, 2014
10:19 EDTTPHOn The Fly: Analyst Initiation Summary
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06:54 EDTGPREJefferies to hold a conference
2014 Global Industrials Conference to be held in New York on August 11-14.
06:10 EDTTPHTRI Pointe Homes resumed with a Buy at Citigroup
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05:24 EDTAUAngloGold reports Q2 output up 17%
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