New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 21, 2012
07:39 EDTSTESteris initiated with a Market Perform at Raymond James
News For STE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 7, 2015
15:09 EDTSTEFTC formally withdraws objection to STERIS-Synergy merger
Subscribe for More Information
October 2, 2015
12:57 EDTSTESTERIS shareholders vote to approve merger plan
Subscribe for More Information
07:46 EDTSTESTERIS to host special shareholder meeting
Subscribe for More Information
October 1, 2015
19:55 EDTSTEFTC will not fight STERIS ruling, Reuters reports
Subscribe for More Information
15:48 EDTSTERegulator will not appeal STERIS decision in district court, Reuters says
Subscribe for More Information
September 28, 2015
10:05 EDTSTEHigh option volume stocks
Subscribe for More Information
September 24, 2015
16:14 EDTSTEOn The Fly: Top stock stories for Thursday
Stock futures were weak in early pre-market trading and the negative bias was cemented when Dow member Caterpillar (CAT) announced restructuring actions, including plans to cut as many as 10,000 jobs, and slashed its revenue guidance for this fiscal year and next. For most of the day the sellers remained in control, pushing the market down more than 1.5% at one point. In the afternoon, though, the buyers came in and began to pick up perceived bargains, paring the market's losses. The averages closed well off their worst levels, but still in the red, ahead of a much-anticipated speech this evening from Fed Chair Janet Yellen. ECONOMIC EVENTS: In the U.S., there were 267,000 initial jobless claims last week, versus expectations for 272,000 first-time claims. Durable goods orders for August declined 2.0%, versus expectations for a drop of 2.3%. When transportation items were removed, the core reading was breakeven, versus expectations for a rise of 0.1%. The Chicago Fed National Activity Index had a reading of -0.41, versus expectations of +0.24. New home sales jumped 5.7% in August to a 552,000 rate, versus expectations for a rise of 1.6% to a 515,000 rate. In Asia, Japan's stock market reopened for the first time since Friday and the Nikkei suffered a nearly 3% decline as it caught up to other global markets. The slide came despite Japanese Prime Minister Shinzo Abe unveiling new economic targets, including a goal for a 20% increase in the target size of the Japanese economy to 600T yen, though he gave no timeframe for achieving this aspiration. Elsewhere, Norway and Taiwan both cut interest rates this morning. The Norges Bank lowered rates by 25 basis points to 0.75%, while Taiwan cut its benchmark by 12.5 basis points to 1.75% in the nation's first lowering of rates since 2009. COMPANY NEWS: Shares of Caterpillar fell $4.40, or 6.27%, to $65.80 after the heavy machinery maker announced plans for job cuts and lowered its revenue guidance for this year and next. Caterpillar said that it would lay off 4,000-5,000 of its employees between now and the end of 2016 and could lay off up to 10,000 employees by 2018. Caterpillar cut its fiscal year 2015 revenue forecast by $1B and said its sees its fiscal year 2016 revenue to be 5% below this year, adding that it expects revenue declines in all three large segments next year. Before the news was announced, research firm Axiom initiated coverage of Caterpillar with a Sell rating and $28 price target, projecting that the company's calendar 2016 earnings will fall well below the Street consensus view. Other mining and agriculture equipment makers were also weaker following the Dow member's announcement, with Joy Global (JOY) falling 1% and Deere (DE) dropping 2.5%. MAJOR MOVERS: Among the notable gainers was STERIS (STE), which advanced $5.05, or 8.02%, to $68.00 after the Federal Trade Commission was denied an injunction to stop the company's proposed merger with Synergy. Also higher was Diamond Foods (DMND), which gained $2.98, or 9.72%, to $33.65 after dealReporter said the company has held talks with strategic suitors as it explores a potential sale. Among the noteworthy losers was Sientra (SIEN), which crashed $10.88, or 52.87%, to $9.70 after a U.K. regulator suspended the CE certificate for all medical devices made by Silimed, the company's contracted manufacturer. Also lower was Caesars (CZR), which fell 6.6% to $7.51 after Bloomberg reported that the company has reached an impasse in talks with certain junior bondholders and creditors involved in the ongoing restructuring of its operating unit. INDEXES: The Dow fell 78.57, or 0.48%, to 16,201.32, the Nasdaq dropped 18.27, or 0.38%, to 4,734.48, and the S&P 500 lost 6.52, or 0.34%, to 1,932.24.
13:33 EDTSTESTERIS sees 'expeditiously' closing Synergy deal after FTC denied injunction
STERIS Corporation confirmed that the U.S. District Court for the Northern District of Ohio has denied the Federal Trade Commission's request for a preliminary injunction to block STERIS's acquisition of Synergy Health. "We are pleased with the Court's decision and we will work to expeditiously close the acquisition of Synergy Health," said Walt Rosebrough, President and CEO of STERIS Corporation. STERIS previously announced that is has rescheduled the vote of its shareholders on the proposed combination of STERIS and Synergy Health by adjourning the meeting scheduled for September 24 to October 2. Synergy Health has scheduled its shareholder meetings for the same date. The companies rescheduled their respective shareholder votes to allow additional time for the Court to issue its decision and allow sufficient notice to Synergy's shareholders under U.K. law.
13:30 EDTSTESTERIS gains after FTC denied injunction regarding Synergy merger
Subscribe for More Information
12:53 EDTSTESTERIS jumps 5% after court ruling on Synergy merger
Shares of STERIS moved higher after a U.S. District Judge denied the FTC's request to temporarily halt the company's $1.9B merger with Synergy Health.
12:51 EDTSTEJudge rejects U.S. bid to block STERIS purchase of Synergy, Bloomberg reports
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use