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Stock Market & Financial Investment News

News Breaks
July 29, 2014
16:53 EDTXPOXPO Logistics acquires New Breed Logistics for $615M, completes ACL acquisition
XPO Logistics announced that it has entered into a definitive agreement to acquire New Breed Holding Company, the preeminent U.S. provider of non-asset based, complex, technology-enabled contract logistics for blue chip customers, for a purchase price of $615 million on a cash-free, debt-free basis, and assuming a normalized level of working capital. At the closing, New Breed's CEO, Louis DeJoy, will use $30M of proceeds from the transaction to purchase restricted stock from the company. New Breed had revenue of approximately $597M and adjusted EBITDA of approximately $77M for the trailing 12 months ended June 30. The company further announced that on July 28, the company completed its acquisition of Atlantic Central Logistics, or ACL, for a cash purchase price of $36.5M on a cash-free, debt-free basis, and excluding any working capital adjustments. ACL had revenue of $63M and adjusted EBITDA of $6.2M for the trailing 12 months ended June 30.
News For XPO From The Last 14 Days
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September 19, 2014
07:56 EDTXPOXPO Logistics price target raised to $46 from $40 at Credit Suisse
Credit Suisse raised XPO estimates and increased its price target to $46 from $40 following the $700M capital raise. The firm said the capital injection signals a strong M&A pipeline and management is in active discussions with around a dozen potential targets. Shares are Outperform rated.
September 16, 2014
07:36 EDTXPOCredit Suisse to hold a conference
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07:26 EDTXPOUltima Media to hold a conference
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September 12, 2014
11:27 EDTXPOXPO Logistics hits 52-week high following $700M investment, increased outlook
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10:10 EDTXPOHigh option volume stocks
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09:14 EDTXPOOn The Fly: Pre-market Movers
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08:45 EDTXPOXPO Logistics price target raised to $45 from $37 at Stifel
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September 11, 2014
17:38 EDTXPOXPO Logistics raises FY17 revenue target to approximately $9B from $7.5B
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17:36 EDTXPOXPO Logistics announces $700M investment by PSP Investments, two others
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September 10, 2014
10:00 EDTXPOOn The Fly: Analyst Initiation Summary
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05:45 EDTXPOXPO Logistics initiated with an Overweight at Barclays
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September 8, 2014
10:13 EDTXPOXPO Logistics management to meet with BB&T
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