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Stock Market & Financial Investment News

News Breaks
February 13, 2014
09:11 EDTMDCO, DRRX, CRME, RTRX, OWW, LF, ANGI, ITRI, URS, AVP, WFM, SKX, HOT, MDLZ, CSCO, CHTR, CMCSA, TWCOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Skechers (SKX), up 14%... Orbitz (OWW), up 14%... Retrophin (RTRX), up 29%... ION Geophysical (IO), up 27%... Avon Products (AVP), up 3%. ALSO HIGHER: Time Warner Cable (TWC), up 8.6% after agreeing to be acquired by Comcast (CMCSA) in a $45.2B stock swap deal. Comcast class A shares are down about 2% after the deal announcement. Charter (CHTR), which was also vying to buy TWC, are down 9% after Comcast struck its deal... Cardiome (CRME), up 20% after Brinavess shows positive results in cardiological study. DOWN AFTER EARNINGS: Cisco (CSCO), down 3.7%... Mondelez (MDLZ), down 3%... Starwood Hotels (HOT), down 2.3%... URS Corporation (URS), down 15%... Itron (ITRI), down 22%... Angie's List (ANGI), down 19%... LeapFrog (LF), down 10%... Cabelas (CAB), down 9%... Whole Foods (WFM), down 7%... NetApp (NTAP), down 4.5%. ALSO LOWER: DURECT (DRRX), down 29% after the FDA determined it cannot approve the New Drug Application for POSIDUR in its present form... The Medicines Co. (MDCO), down 13% after an FDA panel voted against approval for cangrelor and the company's shares were downgraded at Jefferies and at Credit Suisse.
News For TWC;CMCSA;CHTR;CSCO;MDLZ;HOT;SKX;WFM;AVP;URS;ITRI;ANGI;LF;OWW;RTRX;CRME;DRRX;MDCO From The Last 14 Days
Check below for free stories on TWC;CMCSA;CHTR;CSCO;MDLZ;HOT;SKX;WFM;AVP;URS;ITRI;ANGI;LF;OWW;RTRX;CRME;DRRX;MDCO the last two weeks.
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July 14, 2014
08:33 EDTURSAECOM Technology expects to return to lower debt levels by 2017
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08:19 EDTURSURS Corporation downgraded to Neutral from Buy at DA Davidson
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08:01 EDTURSAECOM Technology to host conference call
Conference call to discuss the acquisition of URS Corporation will be held on July 14 at 8 am. Webcast Link
07:42 EDTCMCSAComcast reportedly acquires PowerCloud Systems, TechCrunch reports
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07:38 EDTURSURS volatility expected to move on AECOM Technology acquiring for $4B
URS (URS) option implied volatility is expected to move on AECOM Technology (ACM) acquiring all outstanding shares of URS for a combination of cash and stock valued at approximately $4B or $56.31 per URS share. Overall option implied volatility of 49 is above its 26-week average of 29 according to Track Data, suggesting large near term price movement.
07:20 EDTDRRXControlled Released Society to hold annual meeting
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06:56 EDTTWC, CMCSADisney, CBS, Discovery questioned over Comcast merger, Bloomberg says
Disney (DIS), Discovery (DISCA) and CBS (CBS) are being questioned by U.S. antitrust officials who are investigating Comcast's (CMCSA) planned purchase of Time Warner Cable (TWC), according to Bloomberg, citing three people familiar with the matter. Reference Link
06:27 EDTMDLZLindt & Sprüngli acquires Russell Stover Candies
The Lindt & Sprüngli Group is acquiring the traditional U.S. family business Russell Stover Candies, headquartered in Kansas City, Missouri. Lindt & Sprüngli is financing the acquisition through net cash resources and bank loans and expects the transaction to make a strong positive contribution to the earnings per share from 2015 onwards. It has been agreed not to disclose the purchase price and other contractual details. Other companies that are in the confectionary industry in North America include Hershey (HYS) Rocky Mountain Chocolate (RMCF) and Mondelez (MDLZ). Reference Link
July 13, 2014
15:54 EDTWFMGameStop, TJX, Staples, three other retailers look cheap, Barron's says
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14:06 EDTURSAECOM sees URS deal accretive to GAAP EPS in FY15
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14:02 EDTURSAECOM backs FY14 EPS view in lower range of $2.50-$2.60, consensus $2.49
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13:54 EDTURSAECOM Technology to acquire URS for $56.31 per share
AECOM Technology (ACM) and URS (URS) announced the execution of a definitive agreement under which AECOM will acquire all outstanding shares of URS for a combination of cash and stock valued at approximately $4B or $56.31 per URS share, based on the AECOM closing share price as of July 11. Including the assumption of URS debt, the total enterprise value of the transaction is approximately $6B. The combined company will be a leading, fully integrated infrastructure and federal services provider with more than 95,000 employees in 150 countries. It would have calendar year 2013 pro forma revenues of more than $19B and EBITDA of approximately $1.3B. AECOM will pay $56.31 per URS share, based on AECOM’s closing price on July 11, representing a premium of 19% over the trailing 30-day average closing price of URS shares ending July 11. URS stockholders will receive per share consideration equal to $33 in cash and 0.734 shares of AECOM common stock for each URS share. URS stockholders may elect to receive all cash or all stock consideration, subject to proration in the event of oversubscription. The election will be subject to a customary proration mechanism to achieve an aggregate consideration mix of approximately 59% cash and 41% AECOM common shares. The stock portion of the consideration is expected to be tax-free to URS stockholders. AECOM expects the combination to be accretive to its GAAP earnings per share and more than 25% accretive to its cash earnings per share in fiscal year 2015, excluding transaction-related costs. AECOM also expects annual cost synergies of $250M, nearly all of which it expects to achieve by the end of fiscal year 2016. These synergy expectations are based on the due diligence and planning that have already been conducted. Including the realization of expected synergies, the approximately $6B enterprise value of the transaction is less than 7x pro forma 2015 URS EBITDA. The terms of the definitive agreement have been unanimously approved by the Boards of Directors of both companies. The transaction is subject to customary closing conditions, including regulatory approvals, approval by URS stockholders of the merger agreement, and the approval by AECOM stockholders of the issuance of shares in the transaction. The transaction is expected to close in October 2014. AECOM also announced that it continues to target diluted earnings per share in the lower end of its range of $2.50 to $2.60 for fiscal year 2014, excluding transaction-related costs. It also still anticipates that its third-quarter EPS will be approximately 25% of its full-year results. The company’s backlog continues to grow sequentially and year over year, and remains at record levels.
11:23 EDTCMCSAHulu and South Park announce exclusive multi-year content licensing deal
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July 11, 2014
14:58 EDTMDLZMondelez divestiture unlikely, says JPMorgan
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13:22 EDTMDLZMondelez separating EU cheese biz as possible precursor to sale, Bloomberg says
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11:45 EDTWFMStocks with call strike movement; YHOO WFM
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10:28 EDTURSURS Corporation working with banks on potential sale, Reuters reports
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10:27 EDTURSURS Corporation calls active on recently held talks with potential buyers report
URS Corporation July 55 calls are active on total call volume of 170 contracts (63 puts) on the company recently held talks with potential buyers, Reuter’s reports. July call option implied volatility is at 50, August is at 45, October is at 29; compared to its 26-week average of 28 according to Track Data. Active call volume suggests traders taking positions for large price movement.
10:19 EDTURSURS jumps 6% after Reuters says working with banks on potential sale
10:15 EDTURSURS Corporation recently held talks with potential buyers, Reuters reports
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