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Stock Market & Financial Investment News

News Breaks
May 22, 2014
08:05 EDTSIG, ZLCSignet reiterates commitment to $21.00 per share purchase price for Zale
Signet Jewelers (SIG) reiterated its commitment to its $21.00 per share purchase price for Zale Corporation's (ZLC) outstanding common stock as set forth in the merger agreement between the two companies. Signet CEO Mike Barnes stated, "We are pleased that Institutional Investor Services has recommended for our planned acquisition of Zale. Signet remains firmly committed to the transaction at the agreed upon $21.00 per share purchase price. We believe the merger consideration reflects the full and fair value for Zale common stock based on our extensive due diligence on the company and our detailed understanding of the risks and challenges associated with, and additional substantial investment required for, Zale to continue to deliver improved results relative to its history both in the near and long term. We continue to urge all Zale stockholders to vote in favor of the transaction at the Zale special meeting of stockholders on May 29, 2014." Signet notes that there are significant risks and challenges associated with Zale remaining an independent company and that no other party has expressed interest or come forward to propose an alternative acquisition of Zale.
News For ZLC;SIG From The Last 14 Days
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November 25, 2014
12:55 EDTSIGSignet Jewelers price target raised to $155 from $135 at Sterne Agee
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09:20 EDTSIGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Signet Jewelers (SIG), up 2.6%... Tiffany (TIF), up 4.8%... Nuance Communications (NUAN), up 5.1%... Brown Shoe (BWS), up 6.6%... Cracker Barrel (CBRL), up 3.1%... Qihoo 360 (QIHU), up 5.8%... DSW (DSW), up 7.3%. ALSO HIGHER: SinoCoking Coal (SCOK), up 27.9% after aboveground facility operating at 100% capacity. DOWN AFTER EARNINGS: Xcerra (XCRA), down 7.4%... Workday (WDAY), down 8.4%... Brocade (BRCD), down 3.8%... Post (POST), down 7.5%. ALSO LOWER: Wet Seal (WTSL), down 15.8% after announcing that it has not set a timetable for review of strategic and financial alternatives... Medgenics (MDGN), down 11.1% after 5.125M share Spot Secondary priced at $4.10... Pandora (P), down 3.7% after being downgraded to Underperform from Market Perform at FBR Capital... Cyberark Software (CYBR), down 3.7% after receiving multiple downgrades.
07:17 EDTSIGSignet Jewelers reports Q3 net inventories up 62.6% to $2.67B
Net inventories were $2.67B, up 62.6% compared to $1.64B as of the prior year period. The increase was due almost entirely to the acquisition of the Zale division which had inventories of $979.3M.
07:15 EDTSIGSignet Jewelers CEO 'confident' in ability to meet $150M-$175M in synergies
Mark Light, Signet Jewelers CEO, commented, "While Zale SSS declined 0.9%, we remain pleased with the Zale division integration progress. In the short time period since owning Zale, we have been able to implement select initiatives to further the Zale holiday business. We remain confident in our ability to meet our goal of $150M-$175M in cumulative 3-year synergies from January-end 2015 to January-end 2018."
07:08 EDTSIGSignet Jewelers enters into rough diamond supply contract wit DeBeers
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07:05 EDTSIGSignet Jewelers revenue increase driven by Zale division
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07:03 EDTSIGSignet Jewelers sees FY15 adjusted EPS $5.51-$5.61, consensus $5.50
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07:02 EDTSIGSignet Jewelers sees Q4 adjusted EPS $2.95-$3.05, consensus $3.03
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07:01 EDTSIGSignet Jewelers reports Q3 adjusted EPS 21c, consensus 18c
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November 24, 2014
15:20 EDTSIGNotable companies reporting before tomorrow's open
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November 18, 2014
07:31 EDTSIGSignet Jewelers names Daniel Shull as Chief Information Officer
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