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Stock Market & Financial Investment News

News Breaks
May 27, 2014
12:32 EDTGE, TGITriumph Group agrees to acquire GE hydraulic actuation business for $70M
Triumph Group (TGI) announced that it has entered into a definitive agreement to acquire the hydraulic actuation business of GE Aviation (GE). GEís hydraulic actuation business consists of three facilities located in Yakima, Washington, Cheltenham, England and the Isle of Man and will be included in the Aerospace Systems Group. The business is expected to add approximately $180M in annual revenue and to be immediately accretive to earnings. The purchase price will be approximately $70M. The acquisition is subject to regulatory approvals and other customary closing conditions and is expected to close in the current fiscal quarter.
News For TGI;GE From The Last 14 Days
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December 16, 2014
05:56 EDTGEBoeing selects GE Aviation for ELMS on 777X
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December 15, 2014
18:21 EDTTGIAtlantic Investment raises stake in Triumph Group to 7.4% from 6.5%
12:01 EDTGEBioTime unit, GE Healthcare sign set of license agreements, terms not disclosed
BioTime (BTX) announced that its subsidiary ES Cell International Pte. Ltd. and GE Healthcare (GE) have signed a set of license agreements through which GEHC received rights to ESIís stem cell patents and ESI received rights to stem cell patents controlled by GEHC, in both cases for the development of cellular assays and models derived from stem cells for use in drug discovery and toxicity screening. In addition, the agreements give GEHC the right to grant sub-licenses to the ESI patent portfolio and, in certain circumstances, ESI may further sublicense its rights for the purpose of marketing stem cell-derived products. Financial terms were not disclosed.
11:17 EDTGEGE Aviation selected by Boeing for 777x common core avionics systems
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08:15 EDTGEGeneral Electric to host investor meeting
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08:08 EDTGEGeneral Electric enters into IP licensing agreement with WordLogic
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December 12, 2014
11:57 EDTGEGeneral Electric increases dividend 5% to 23c from 22c
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11:57 EDTGEGeneral Electric increases dividend 5% to 23c from 22c
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December 11, 2014
07:30 EDTTGIDA Davidson to hold a conference
6th Annual Aerospace & Industrials 1:1 Conference is being held in Boston on December 11.
December 10, 2014
09:22 EDTTGITriumph Group deal 'highly favorable,' says DA Davidson
After Triumph Group (TGI) announced that it would be taking over the production of the G650 and G280 wing programs from Spirit AeroSystems (SPR), DA Davidson thinks the deal is "highly favorable" for Triumph. The firm says that Triumph acquired two programs that have been at the top of its radar for some time, received enough cash to cover initial cash flows, and still has considerable room to make further acquisitions. DA Davidson keeps a Buy rating on Triumph.
08:04 EDTGEGE Energy Financial Services, Pacifico to build second joint solar project
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07:24 EDTTGISpirit AeroSystems, Triumph Group deal a win-win transaction, says Wells Fargo
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December 9, 2014
12:38 EDTTGIBoeing 747 production rate cut not surprising, says Wells Fargo
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07:46 EDTTGITriumph Group to host a conference call
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07:31 EDTTGITriumph to take over production of Gulfstream G650, G280 wing programs in Tulsa
Triumph Group (TGI) announced the signing of a definitive agreement with Spirit AeroSystems Holdings (SPR) which Triumph will take over production of the Gulfstream G650 and G280 wing programs located in Tulsa, Oklahoma. The transaction is targeted to close by calendar year end, subject to customary closing conditions. Under the terms of the agreement, Triumph will receive $160M in cash plus assets required to run the business from Spirit to cover the anticipated future cash flow needs of the programs, with no additional capital contributions expected by Triumph. The company expects the programs to be initially cash flow negative, with operating cash requirements anticipated to decrease over the first three years and becoming cash flow positive in year four. The business will be included in the Aerostructures Group segment and is expected to add approximately $250M in annual revenue and to be immediately accretive to Triumphís earnings per share upon closing, reflecting initial estimates of purchase accounting adjustments and excluding synergies resulting from the transaction and transaction related expenses. Upon the close of the transaction, production will continue out of Spiritís Tulsa facility and Triumph will look to utilize its manufacturing experience, resources and wing design engineering capabilities as appropriate to supplement the Tulsa operations. The company will focus on optimizing the build process and cost structure of the programs, and has identified opportunities for engineering, supply chain and labor enhancements.
06:22 EDTTGIBoeing sees strong demand for commercial airplanes in 2015
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December 5, 2014
06:26 EDTGEAres Management and GE Capital provide debt package to fund Open GI acquisition
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December 4, 2014
11:59 EDTGEHungary to buy Budapest Bank from GE Capital, Reuters reports
Hungary has signed a preliminary agreement to buy Budapest Bank from GE Capital, reports Reuters, according governments spokesman Zoltan Kovancs. economy Minister Mihlay Varga said the transaction is expected to close by the end of July 2015, but declined to comment on the price. Reference Link
December 3, 2014
07:14 EDTGEBusiness Insider to hold a conference
Business Insider IGNITION 2014 Conference is being held in New York on December 1-3 with webcasted company presentations to begin on December 3 at 8 am; not all company presentations may be webcasted. Webcast Link
06:04 EDTGEGeneral Electric's gas turbine-compresssor solution selected by LNG Canada
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