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Stock Market & Financial Investment News

News Breaks
February 12, 2014
04:55 EDTSPB, SPBSpectrum Brands management to meet with Oppenheimer
Field trip to company headquarters to be held in Middleton, WI on February 19 hosted by Oppenheimer.
News For SPB From The Last 14 Days
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April 30, 2015
07:28 EDTSPBFavorable reaction to Spectrum Brands deal logical, says Wells Fargo
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April 29, 2015
07:45 EDTSPBSpectrum Brands to host conference call
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07:31 EDTSPBSpectrum Brands likely to rise on acquisition, says Wells Fargo
After Spectrum agreed to acquire Armored AutoGroup, the maker of Armor All and STP branded products, from private equity firm Avista Capital Partners for $1.4B, Wells Fargo thinks that Spectrum's stock will rise today on the news. The firm expects investors to view the deal positively, and it reiterates an Outperform rating on Spectrum Brands.
07:12 EDTSPBSpectrum Brands reiterates FY15 revenue view, consensus $4.55B
Spectrum Brands reiterated expectations for fiscal 2015 net sales, as reported, to increase in the low to mid-single digit range compared to fiscal 2014, including the positive impact of the acquisitions of Tell Manufacturing on October 1, 2014, the European pet food business on December 31, 2014 and Salix Animal Health on January 16, 2015, along with an anticipated negative impact from foreign exchange of approximately 5 percent to 6 percent. Fiscal 2015 free cash flow is projected to be approximately $400 million compared to $359 million in fiscal 2014 and $254 million in fiscal 2013. Fiscal 2015 free cash flow is expected to be negatively impacted by foreign exchange, a modest increase in capital expenditures and the restructuring initiatives. Capital expenditures, which were $73 million in fiscal 2014, are expected to be in the range of $75 million to $85 million. These incremental investments are expected to increase both the Companyís margin structure and accelerate its organic sales growth rate in future years.
07:11 EDTSPBSpectrum Brands reports Q2 adjusted EPS 69c, consensus 77c
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April 28, 2015
17:46 EDTSPBSpectrum Brands acquires Armored AutoGroup for $1.4B
Spectrum Brands Holdings (SPB) announced it has signed a definitive merger agreement to acquire Armored AutoGroup Parent from Avista Capital Partners for $1.4B in cash and assumed debt. Including synergies from its acquisition of the A/C PRO business from IDQ Acquisition Corp. in March 2014, other synergies and organic growth, Armored AutoGroup is expected to generate net sales of more than $440M and adjusted EBITDA in excess of $140M for the calendar year ending December 31. Nearly 80% of Armored AutoGroupís annual revenues are generated in the U.S. The acquisition is expected to increase Spectrum Brandsí top-line growth and margins and be accretive to adjusted EPS and adjusted EBITDA before synergies in the first full fiscal year following the closing of the transaction. In addition, the acquisition is expected to add over $60M of free cash flow in the first full fiscal year after closing, including acquisition, integration and interest costs. The $1.4B cash purchase price and associated transaction fees and expenses are expected to be funded through a combination of new debt and approximately $500M of Spectrum Brands common stock, including equity to be purchased by HRG Group (HRG). As part of the transaction, Spectrum Brands has received debt financing commitments from Credit Suisse, Deutsche Bank and Jefferies.
17:43 EDTSPBSpectrum Brands acquires Armored AutoGroup for $1.4B
16:33 EDTSPBSpectrum Brands said to buy Armor All in $1.4B deal, Bloomberg says
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April 21, 2015
10:01 EDTSPBOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Agios Pharmaceuticals (AGIO) initiated with a Perform at Oppenheimer... Bed Bath & Beyond (BBBY) initiated with a Buy at Cantor... BioCryst (BCRX) initiated with an Outperform at FBR... Bovie Medical (BVX) initiated with an Outperform at JMP Securities... Calavo Growers (CVGW) initiated with a Buy at Janney Capital... Clorox (CLX) initiated with a Sector Weight at KeyBanc... Coach (COH) initiated with a Sell, $32 target at Cantor... Compugen (CGEN) initiated with an Outperform at Oppenheimer... Corcept Therapeutics (CORT) initiated with an Outperform at FBR Capital... Criteo (CRTO) initiated with an Outperform at Raymond James... CytRx (CYTR) initiated with an Outperform at FBR Capital... Dollar Tree (DLTR) initiated with a Buy at Cantor... Facebook (FB) initiated with a Buy at Cleveland Research... Gap (GPS) initiated with a Hold at Cantor... Genocea (GNCA) initiated with an Outperform at FBR Capital... Geron (GERN) initiated with an Outperform at Oppenheimer... Home Depot (HD) initiated with a Hold at Cantor... HubSpot (HUBS) initiated with a Buy at Needham... Jernigan Capital (JCAP) initiated with a Buy at Wunderlich... La Jolla (LJPC) initiated with an Outperform, $43 target at Oppenheimer... Lowe's (LOW) initiated with a Hold at Cantor... Lumber Liquidators (LL) initiated with a Buy, $45 target at Cantor... New Residential (NRZ) reinstated with an Outperform at Credit Suisse... Rent-A-Center (RCII) initiated with a Buy at Cantor... Ross Stores (ROST) initiated with a Hold at Cantor... Rubicon Project (RUBI) initiated with an Outperform at Raymond James... SolarCity (SCTY) initiated with an Outperform at Northland... SolarEdge (SEDG) initiated with a Buy at Canaccord... Spectrum Brands (SPB) initiated with an Overweight at KeyBanc... Summit Materials (SUM) initiated with a Buy at BB&T... Synergy Resources (SYRG) initiated with a Buy at KLR Group... Synta Pharmaceuticals (SNTA) initiated with an Outperform at FBR Capital... TJX (TJX) initiated with a Hold at Cantor... Tiffany (TIF) initiated with a Hold at Cantor... TubeMogul (TUBE) initiated with a Market Perform at Raymond James... Urban Outfitters (URBN) initiated with a Buy at Cantor... WhiteWave Foods (WWAV) initiated with a Neutral at Janney Capital... Williams-Sonoma (WSM) initiated with a Hold at Cantor... Zafgen (ZFGN) initiated with an Outperform at FBR Capital.

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