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Stock Market & Financial Investment News

News Breaks
February 5, 2013
05:48 EDTWMS, SGMSScientific Games downgraded to Sell from Hold at Deutsche Bank
Deutsche Bank downgraded Scientific Games (SGMS) to Sell citing a challenged business model and risks from the WMS (WMS) acquisition. The firm lowered its price target for shares to $6 from $7.
News For SGMS;WMS From The Last 14 Days
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July 28, 2015
09:09 EDTSGMSScientific Games appoints David Smail as Chief Legal Officer
Scientific Games announced the appointment of David W. Smail as Executive Vice President and Chief Legal Officer, effective August 3. Most recently, Smail was Executive Vice President and General Counsel of Morgans Hotel Group Co., where he served as chief legal officer of the hospitality company from 2006 to 2014. Previously, he was Executive Vice President and Group General Counsel at Havas S.A., a French-based global advertising and communications services company following a progressive legal career at the international law firm Hogan Lovells in their Paris and Washington, D.C. offices, most recently as Partner in their Washington, D.C. office.
July 20, 2015
08:04 EDTWMSAdvanced Drainage takes operational control of BaySaver JV
Advanced Drainage Systems announced that it has acquired operational control of its BaySaver, LLC joint venture from its partner, BaySaver Technologies. Under its BaySeparator and BayFilter brands, “BaySaver” manufactures stormwater treatment units used in construction applications to remove sediments and other pollutants from stormwater runoff. Through this transaction, ADS has acquired an additional 10% from BTI for $3.2M, bringing its interest in the joint venture to 65%. The joint venture was initially formed on July 15, 2013. The partnership combined the industry leading engineering, manufacturing, sales and distribution of ADS, with the research, development and technical approvals of BTI. During the twelve months ended March 31, 2015, BaySaver had revenue of approximately $11M. BaySaver will continue to be based in Mount Airy, Maryland with a focus on stormwater filtration and separation technologies. As a result of the transaction, ADS will consolidate BaySaver for financial reporting purposes effective as of the July 17, 2015 closing date.

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