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Stock Market & Financial Investment News

News Breaks
March 8, 2013
05:55 EDTZAGG, ZAGGZAGG management to meet with JPMorgan
Meeting to be held in the Mid-Atlantic area on March 14 hosted by JPMorgan.
News For ZAGG From The Last 14 Days
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February 8, 2016
10:00 EDTZAGGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amedisys (AMED) upgraded to Outperform from Perform at Oppenheimer... American Campus (ACC) upgraded to Buy at Canaccord... Beacon Roofing (BECN) upgraded to Strong Buy from Outperform at Raymond James... Big 5 Sporting (BGFV) upgraded on potential Sports Authority closures at Stifel... CenterState Banks (CSFL) upgraded to Outperform from Market Perform at Fig Partners... Cisco (CSCO) upgraded to Neutral from Underperform at Macquarie... Dollar Tree (DLTR) upgraded to Outperform from Market Perform at Telsey Advisory... Dow Chemical (DOW) upgraded to Positive from Neutral at Susquehanna... Essex Property Trust (ESS) upgraded to Buy from Neutral at Mizuho... Globant (GLOB) upgraded to Buy from Neutral at Citi... Kinross Gold (KGC) upgraded on valuation, higher gold price at BMO Capital... L Brands (LB) upgraded to Buy from Hold at Brean Capital... Marvell (MRVL) upgraded to Buy from Sell at B. Riley... Munich Re (MURGY) upgraded to Neutral from Underperform at Credit Suisse... OM Asset Management (OMAM) upgraded to Buy from Neutral at Citi... Orbital ATK (OA) upgraded to Overweight from Sector Weight at KeyBanc... SCANA (SCG) upgraded to Buy from Neutral at Mizuho... Sensient (SXT) upgraded to Buy from Hold at Gabelli... St. Jude Medical (STJ) upgraded to Hold from Sell at Canaccord... Suffolk Bancorp (SCNB) upgraded to Outperform from Market Perform at Fig Partners... Supernus (SUPN) upgraded to Buy from Hold at Jefferies... Ultimate Software (ULTI) upgraded to Outperform from Market Perform at FBR Capital... ZAGG (ZAGG) upgraded to Outperform from Market Perform at Northland... athenahealth (ATHN) upgraded to Buy from Hold at Topeka.
06:51 EDTZAGGZAGG upgraded to Outperform from Market Perform at Northland
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February 2, 2016
17:03 EDTZAGGZAGG and mophie to combine
ZAGG Inc and mophie inc. announced the signing of a definitive merger agreement under which ZAGG will acquire mophie. The transaction will leverage the unique strengths of two industry leaders in the mobile accessories sector to create a business with greater product diversification and improved operational capabilities."This strategic combination of two industry innovators with complementary product, brand and distribution platforms will enable us to deliver increased value for our customers and shareholders," said Randy Hales, President and Chief Executive Officer of ZAGG. "We see numerous opportunities to drive revenue growth and increase profitability by leveraging the strengths of both organizations to strengthen product development, improve brand presence, and expand distribution."ZAGG has agreed to pay $100 million at closing, plus the amount by which 5X Adjusted EBITDA exceeds $100 million over a 12-month earn-out period. The 12-month earn-out period will run from April 1, 2016 to March 31, 2017. The purchase price at closing will be funded with cash and debt. The earn-out will be financed through a combination of cash, debt and up to $5 million in ZAGG common stock. The agreement also allows mophie to collect approximately $15 million from certain pre-merger tax and custom duties refunds and real estate sale proceeds, if received post-closing. During the earn-out period the management teams will work collaboratively to identify operational efficiencies through the adoption of best practices from both companies. The transaction is expected to close during the first quarter of 2016 subject to customary closing conditions, including regulatory approvals. The board of directors of each company have unanimously approved the transaction.

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