New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 27, 2013
13:17 EDTURSURS Corporation downgraded to Hold from Buy at Standpoint Research
News For URS From The Last 14 Days
Check below for free stories on URS the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 15, 2014
10:46 EDTURSURS Corporation downgraded to Hold from Buy at Standpoint Research
Subscribe for More Information
July 14, 2014
12:21 EDTURSOn The Fly: Midday Wrap
Subscribe for More Information
10:00 EDTURSOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
09:27 EDTURSAECOM Technology acquisition terms represent fair value, says RW Baird
Subscribe for More Information
09:16 EDTURSOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
08:59 EDTURSJana Partners reports 9.8% passive stake in URS Corporation
Subscribe for More Information
08:33 EDTURSAECOM Technology expects to return to lower debt levels by 2017
Subscribe for More Information
08:19 EDTURSURS Corporation downgraded to Neutral from Buy at DA Davidson
Subscribe for More Information
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
07:38 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.
July 13, 2014
14:06 EDTURSAECOM sees URS deal accretive to GAAP EPS in FY15
Subscribe for More Information
14:02 EDTURSAECOM backs FY14 EPS view in lower range of $2.50-$2.60, consensus $2.49
Subscribe for More Information
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 AECOMís 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 companyís backlog continues to grow sequentially and year over year, and remains at record levels.
July 11, 2014
10:28 EDTURSURS Corporation working with banks on potential sale, Reuters reports
Subscribe for More Information
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, Reuterís 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
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 theflyonthewall.com disclaimer & terms of use