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December 11, 2012
07:36 EDTSTN, PWR, WG, UNTK, STRL, TPC, FWLT, HIL, NWE, TKPPY, PIKE, URS, TTEKKeyBanc Capital Markets to host a conference
Engineering, Construction & Utilities Conference is being held in New York on December 10-11.
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December 17, 2014
06:32 EDTNWENorthWestern initiated with a Neutral at Credit Suisse
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05:38 EDTTPCTutor Perini announces favorable legal developments
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05:34 EDTSTNStantec initiated with a Buy at Brean Capital
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05:18 EDTTKPPYTechnip awarded EUR 100M contract by ONGC in India
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December 15, 2014
17:17 EDTWGWillbros Group filed restated results for Q1, Q2
17:16 EDTWGWillbros expects to make finaly $32.7M WAPco settlement payment at year end
As of September 30, Willbros was in compliance with all financial covenants under the 2013 Credit Facilities, as modified by the Third Amendment executed on November 12, 2014.
17:14 EDTWGWillbros Group reports reports Q3 continuing operations EPS 2c, consensus 15c
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16:51 EDTWGWillbros Group reports Q3 EPS (6c), may not compare to consensus 15c
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16:36 EDTTKPPYOn The Fly: Closing Wrap
The Dow began the session with triple digit gains, but the move was short lived and so was the positive start for the equities market, which tumbled with oil prices and struggled for the remainder of the session. The day’s economic reports, which included the Empire Manufacturing report, industrial production and capacity utilization reports, and the NAHB housing market index, had little effect on the market. Stocks recovered a bit but did not get back into the green before the close, with investors wondering how the Fed, which begins its final FOMC meeting of the year tomorrow, will view its strategy in light of the recent weakness in oil. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index fell to -3.6 in December, which was significantly worse than the expectation for it to rise to 12.4 from its prior 10.2 reading. Industrial production jumped 1.3% in November, which was better than the expected 0.7% increase. The NAHB homebuilder sentiment index fell one point to 57 in December, versus expectations for a one point rise to a 59 reading. Near noon, WTI crude was down more than 2% and was trading below $57 per barrel. COMPANY NEWS: Riverbed Technology (RVBD) rose $1.57, or 8.38%, to $20.31 after the company agreed to be acquired by private equity investment firm Thoma Bravo and the private investor department of Ontario Teachers’ Pension Plan. Riverbed stockholders will receive $21 per share in cash, or a total of approximately $3.6B, which Wells Fargo views as a "good decision" and good deal for the company given the challenges in its business... PetSmart (PETM) advanced $3.30, or 4.25%, to $80.97 after the company agreed to be acquired by a consortium led by BC Partners at a price of $83.00 per share in cash. However, the private equity backers of Petco that were not allowed to participate in the auction process because of competition concerns, Leonard Green & Partners and TPG, could still make a rival offer, according to The Deal Pipeline, citing a source familiar with the situation. MAJOR MOVERS: Among the notable gainers was Sorrento Therapeutics (SRNE), which advanced $1.50, or 25.86%, to $7.30 after the company announced that it has entered into a binding agreement with NantWorks founder Dr. Patrick Soon-Shiong to establish a strategic collaboration to jointly develop next generation immunotherapies for the treatment of cancer and auto-immune diseases. Also higher was Cirrus Logic (CRUS), which rallied $4.12, or 21.87%, to $22.96 after Barclays upgraded the stock two notches to Overweight from Underweight and said the company is poised to make significantly more money per each iPhone sold next year. Among the noteworthy losers was CGG SA (CGG), which was downgraded to Underperform at Raymond James and dropped $2.41, or 28.29%, to $6.11 after Technip (TKPPY) said that it does not plan to file a tender for the company after talks between the companies did not result in a deal. Also lower were shares of Habit Restaurants (HABT), which fell $7.20, or 17.19%, to $34.69 as analysts rolled out coverage of the stock following its IPO about a month ago. Amid the coverage initiations, Habit Restaurants shares were initiated with a Neutral and $41 price target at RW Baird, with a Market Perform rating at Wells Fargo, with an Equal Weight at Stephens and with an Overweight rating and $48 target at Piper Jaffray. INDEXES: The Dow fell 99.99, or 0.58%, to 17,180.84, the Nasdaq dropped 48.44, or 1.04%, to 4,605.16, and the S&P 500 declined 12.70, or 0.63%, to 1,989.63.
15:21 EDTWGNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include VeriFone Systems (PAY), consensus 41c; FuelCell Energy (FCEL), consensus (2c); Willbros Group (WG), consensus 15c.
12:37 EDTTKPPYOn The Fly: Midday Wrap
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05:25 EDTTKPPYTechnip plans to acquire Zimmer polymer technology business
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December 14, 2014
15:04 EDTTKPPYTechnip ends plans to acquire CGG after talks on deal disappoint
Technip said in a press release: "On November 10 Technip (TKPPY) approached CGG's (CGG) board of directors with a view to making an offer on CGG and sought to engage in a constructive dialogue with CGG to review this project. Further to press leaks, Technip set out the main elements of its industrial project in a press release on November 20. Following CGG’s reaction to this approach, Technip put forward a number of alternative options to a tender offer, taking care as always to consider the social, strategic and financial aspects in each case. However, the discussions of these options did not result in any form of agreement. Under these circumstances, Technip informs the market that it does not intend to file a tender offer for CGG."
December 11, 2014
12:43 EDTTKPPYFrench government reporedtly scrutinizing potential CGG deal, Reuters says
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12:01 EDTHILHill International receives $6M contract to manage Sandy recovery efforts
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10:13 EDTSTRLOn The Fly: Analyst Upgrade Summary
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07:30 EDTSTRLSterling Construction upgraded to Buy from Hold at KeyBanc
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December 9, 2014
08:23 EDTPIKEPike Corp. announces ISS recommends holders vote FOR proposed sale transaction
Pike Corporation announced that Institutional Shareholder Services, or ISS, an independent proxy voting and corporate governance advisory firm, has recommended that the company's shareholders vote "FOR" the proposed sale transaction for $12.00 per share in cash.
06:21 EDTNWENorthWestern sees FY15 EPS $3.07-$3.32, consensus $3.22
Sees FY15 preliminary targeted dividend range of $1.84-$1.99. Current estimated cumulative capital spending for 2014 through 2018 is $1.45B. Anticipates to be able to fund updated capital projects with combination of cash flow and long-term debt.
06:19 EDTNWENorthWestern backs FY14 EPS $2.60-$2.75, consensus $2.68
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