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Market Update

Stagecoach Net Swing to Loss, Takeda Wins $62 B Deal for Shire

Sarla Buch
25 Jan, 2019
New York City

Daimler plans to increase its stake in China-based BAIC. Rolls-Royce said it will use technology of the U.S.-based Uptake. Stagecoach net swung to loss after non-cash goodwill impairment charge of £85 million. Takeda win shareholders approval for $62 billion deal for Shire Plc.

Cadence Bancrop Lowered Offer for State Bank, Mindbody Agreed to LBO Deal

Mukesh Buch
24 Dec, 2018
New York City

Cadence Bancrop lowered offer price to acquire State Bank Financial Corp. China-based HNA Technology is reported to be in talks to sell Ingram Micro. Mindbody agreed to be acquired by Vista Equity Partners for $1.9 billion.

Anglo American Lifts Production Outlook, Euronext to Buy Oslo Exchange

Sarla Buch
24 Dec, 2018
New York City

Anglo American lifted fiscal 2019 production forecast in Brazil after winning the regulatory approval for production expansion. Euronext intends to acquire Oslo stock exchange. Playtech declined after new Italian tax on gambling may reduce its fiscal operating profit.

Cintas, Nike Reported Strong Results; Zynga Acquires Small Giant Games

Mukesh Buch
21 Dec, 2018
New York City

CarMax beats earnings estimates. Cintas reported strong results and lifted revenues growth forecast. Ennis jumped after revenues and profit soared. Nike soared after better-than-expected results. Zynga agreed to acquire Small Giant Games for $560 million.

Danske Lowers Outlook Second Time, Delivery Hero Sells German Business

Sarla Buch
21 Dec, 2018
New York City

Danske Bank lowered fiscal profit outlook for the second time this year. Delivery Hero agreed to sell its German Food delivery business to Dutch rival. Vodafone said it will replace its auditor PricewaterhouseCoopers.

Accenture Revenues Surges; Conagra, Walgreens Beat Earnings Estimates

Mukesh Buch
20 Dec, 2018
New York City

Accenture declined despite outsourcing services provider lifted fiscal outlook. BlackBerry net swung to profit. Carnival beats earnings estimates. Conagra tumbled after net declined. Herman Miller reported higher-than-expected results. Walgreens reported strong results.

Greencore Soars on Stock Buy Back Plan, Bourbon Corp in Search of New Partner

Sarla Buch
20 Dec, 2018
New York City

Bourbon declined after the shipping company said it is looking for a new financial partner. Consus Real Estate net swung to profit on strong revenues. Greencore plans to buy back up to

FedEx Plunge Extends Loss to 32%, General Mills Reaffirms Outlook

Mukesh Buch
19 Dec, 2018
New York City

FedEx lowered fiscal outlook despite strong results. General Mills reaffirmed fiscal forecast. Jabil Circuit net surged 94% on 16% jump in revenues. Micron Technology reported better-than-expected results. Paychex jumped after strong second-quarter results.

Glaxo to Split and Combine Consumer Unit with Pfizer, Ceconomy Tumbles

Sarla Buch
19 Dec, 2018
New York City

Ceconomy tumbled on weak fiscal forecast. Glaxo plans to split into two businesses and the U.S. rival Pfizer agreed to combine consumer health care unit. Natixis booked

Oracle Repurchased $10 B of Stock, Navistar Held Out Optimistic Outlook

Mukesh Buch
18 Dec, 2018
New York City

Darden Restaurants gained on 36% jump in profit and better-than-expected same store sales growth estimate. Navistar surged. Oracle revenues fell. Red Hat revenues soared. Steel Dynamics rose on improved forecast. Worthington Industries plunged 10%.

T-Mobile, Sprint Deal Wins U.S. Approval; Cherry AB Receives LBO Offer

Sarla Buch
18 Dec, 2018
New York City

Cherry AB surged on takeover bid. T-Mobile and Sprint won takeover approval from the U.S. national-security officials. Eiffage SA agreed to buy 5.3% stake in the tunnel operator Getlink. Royal Dutch Shell is in talks to buy Endeavor Energy Resources.

Boeing Acquires 80% in Embraer, WellCare Lowers Outlook

Mukesh Buch
17 Dec, 2018
New York City

The Boeing agreed to acquire 80% stake in Brazil-based Embraer for $5.3 billion. Japan-based Taisho Pharmaceutical plans to buy Bristol-Myers Squibb

ABB Agreed to Sell Power Grids Business to Hitachi, Asos Plunges

Sarla Buch
17 Dec, 2018
New York City

Asos Plc plunged nearly 40% after the U.K. based online retailer lowered growth outlook. All for One Steeb beats earnings estimates. ABB plan to sell its 80.1% in its power grids business to Japan-based Hitachi.

Pivotal Rides Shift to Cloud, Progressive Net Jumps 57%

Mukesh Buch
12 Dec, 2018
New York City

Pivotal Software beats earnings estimates. Photronics net surged 55% on 20% jump in revenues. Progressive Corp net jumped 57%. Vera Bradley net soared but revenues plunged.

Fred's Net Loss Narrows, Lee Enterprises Profit Surges

Mukesh Buch
14 Dec, 2018
New York City

Fred''''s net loss narrowed despite a drop in net sales. KalVista Pharmaceuticals net loss narrowed. Lee Enterprises net surged 28% but revenues fell. Vince Holding beat earnings estimates.