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Stock Market & Financial Investment News

News Breaks
October 22, 2013
11:23 EDTWHR, GE, SSNLF, ELUXY, SHLD, HGG, HD, LOW, BBYWhirlpool rallies after raising full year profit outlook
Shares of appliance manufacturer Whirlpool (WHR) are rallying after the company raised its full year profit outlook. WHAT'S NEW: This morning, Whirlpool reported third quarter adjusted EPS of $2.72 and revenue of $4.7B. This compared to analysts’ consensus estimates of $2.61 and $4.74B, respectively. WHAT’S NOTABLE: The company raised its fiscal 2013 adjusted earnings view to $9.90-$10.10 from $9.50-$10.00, versus consensus of $9.97. The company’s full-year diluted earnings per share guidance was increased to $10.45-$10.65 compared to the previous range of $10.05-$10.55. The company now expects full-year 2013 U.S. industry unit shipments to increase by approximately 9%. PRICE ACTION: In late morning trading, Whirlpool rose about 9% to over $143 per share on nearly twice its average daily trading volume. OTHERS TO WATCH: Whirlpool's competitors in the appliance space include General Electric (GE), Samsung (SSNLF), Electrolux (ELUXY) and LG. Appliances retailers include Home Depot (HD), Lowe's (LOW), Sears (SHLD), Best Buy (BBY) and hhgregg (HGG).
News For WHR;GE;SSNLF;ELUXY;SHLD;HGG;HD;LOW;BBY From The Last 14 Days
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July 15, 2014
07:15 EDTLOWIIR Holdings to hold a conference
14th Annual Shopper Insights in Action Conference to be held in Chicago on July 14-16.
06:50 EDTGEGE anticipates meeting $30B air show goal, Reuters says
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06:17 EDTSSNLFReport: Samsung finishes LTE-A solution for mobile processors, DigiTimes says
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06:11 EDTSSNLFSamsung, HiSilicon to sell more handset solutions to vendors, DigiTimes says
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06:02 EDTSSNLFSamsung, Nest, ARM team up for Thread wireless networking protocol
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July 14, 2014
09:06 EDTGEEmirates signs $13B GE9X services agreement
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08:11 EDTHDHome Depot management to meet with JPMorgan
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07:58 EDTHDMakerBot, Home Depot to bring MakerBot 3D printers to select stores
MakerBot, a subsidiary of Stratasys (SSYS), and The Home Depot (HD) announce a collaboration to bring MakerBot Replicator Desktop 3D Printers to customers on homedepot.com/makerbot and in 12 Home Depot stores in California, Illinois and New York beginning July 14. This is the first time The Home Depot has offered 3D printers for sale in its stores and will be a pilot program for MakerBot and The Home Depot.
07:43 EDTGEGE far ahead of Caterpillar in race for cleaner diesel train, WSJ says
Caterpillar (CAT) has fallen far behind in the race to offer a locomotive that meets stricter emission standards taking effect next year, with its Electro-Motive Diesel unit stating that its freight trains probably won't be available until 2017, while General Electric (GE) is already testing trains that comply with the new rules, reported The Wall Street Journal. Reference Link
06:54 EDTSSNLFSamsung ceases business with China supplier, Reuters says
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July 13, 2014
11:40 EDTGEAmerican selects CFM engine to power A320 in order valued $2.6B
American Airlines (AAL) has selected CFM International’s advanced LEAP-1A engine to power its new fleet of 100 Airbus (EADSY) A320neo family aircraft. CFM values the engine order at $2.6B U.S. at list price. The aircraft order was originally announced in July 2011 and American will begin taking delivery in 2017. American also has orders for LEAP-1B engines to power 100 Boeing 737 MAX aircraft, which are also scheduled to be delivered beginning in 2017. American has been a CFM customer since 1996 and the airline’s fleet includes 375 Airbus A320 Family and Boeing 737 aircraft powered by CFM56 engines. CFM International is a 50/50 joint company between Safran and General Electric (GE).
July 12, 2014
18:33 EDTSSNLFIntel looks to Chinese unbranded makers to boost tablet presence, WSJ says
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18:08 EDTGEeasyJet said to choose GE-Safran engine for Airbus jets, WSJ says
easyJet (ESYJY) is set to order engines from a partnership of General Electric (GE) and France's Safran to power 100 Airbus Group (EADSY) NV A320neo jets, says the Wall Street Journal. According to the WSJ report United Technologies (UTX) unit Pratt & Whitney was also aggressively competing for the order. Reference Link
July 11, 2014
08:05 EDTGEGE Capital increases credit facility for OraMetrix
GE Capital’s Healthcare Financial Services business announced that it is the sole lender on a $10M senior secured term loan for OraMetrix. This transaction refinances the company’s previous $7.5M multi-draw senior secured term loan facility and provides it with an additional $2.5M. The funds will be used for working capital and growth initiatives.
08:03 EDTGEGE Capital provides MerchSource with $130M credit facility
GE Capital announced it is providing MerchSource with a $130M senior credit facility providing working capital for the company’s operations in the U.S. and Hong Kong.
07:45 EDTGEWith Alstom agreement settled, attention on GE turns to earnings, Reuters says
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06:16 EDTBBYBest Buy price target raised to $36 from $31 at Citigroup
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05:57 EDTSSNLFSamsung revamping app store for phones and tablets, Re/code reports
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05:27 EDTWHRWhirlpool to acquire majority interest in Indesit for $15.06 per share
Whirlpool and Fineldo S.p.A. announce that they have entered into a binding agreement for the sale of Fineldo's stake in Indesit. Whirlpool also entered into binding share purchase agreements with members of the Merloni family for their Indesit shares. Under these agreements, Whirlpool would acquire shares representing a total of 66.8% of the voting stock of Indesit. Whirlpool currently intends to finance this transaction through cash on hand, together with private, domestic and international public debt financing. The acquisition of control of Indesit is subject to judicial and antitrust approvals and is expected to close by the end of 2014. In this transaction, Whirlpool simultaneously entered into share purchase agreements with Fineldo for a 42.7% stake in Indesit, certain members of the Merloni family for a 13.2% stake in Indesit, and Claudia Merloni for a 4.4% stake in Indesit. This total of 60.4% of Indesit stock capital represents a 66.8% voting stake in Indesit, in light of the treasury shares held by Indesit. The purchase price under all three Share Purchase Agreements is $15.06 per Indesit share, resulting in a total expected purchase price of $1.04B. Under the Fineldo Agreement, however, the purchase price is subject to a possible pre-closing downwards or upwards adjustment based on Indesit's consolidated average net debt and net working capital. The purchase price is based on Indesit's average net debt position for 2013. Either party's breach of its obligation to consummate the transaction or Fineldo's breach of its exclusivity obligations requires payment of at least $54.8M in liquidated damages.
05:22 EDTWHRWhirlpool to acquire majority interest in Indesit for $15.06 per share
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