BlackRock in $2.5 B Deal with Qatar Investment, Qlink Goes Private

Mukesh Buch
06 Jun, 2016
New York City

BlackRock agreed to sell its Singapore-based 43-story office building to Qatar Investment for $2.45 billion. Calavo Growers net jumped 14%. salesforce.com will commence $2.8 billion offer to acquire Demandware Inc. Thoma Bravo agreed to take private Qlik Technologies for $3 billion.

[R]2:00 PM New York – BlackRock agreed to sell its Singapore-based 43-story office building to Qatar Investment for $2.45 billion. Calavo Growers net jumped 14%. salesforce.com will commence $2.8 billion offer to acquire Demandware Inc. Thoma Bravo agreed to take private Qlik Technologies for $3 billion.[/R]

Tollbooth Index increased 34.66 or 0.3% to 10,686.50.

Earnings Review

BlackRock Inc gained 1.2% or $4.37 to $363.74 after the investment company agreed to sell its Singapore-based 43-story office building to a sovereign wealth fund manager Qatar Investment Authority for about $2.45 billion or S$3.4 billion.

Calavo Growers, Inc ((CVGW)) soared 7.8% or $4.38 to $60.60 after the fresh food provider reported revenues in the second-quarter ending in April fell 0.6% from a year ago to $220.3 million.

Net income in the quarter jumped 14.4% to $9.7 million or 56 cents per diluted share compared to $8.5 million or 49 cents per share from the same quarter last year.

salesforce.com, Inc ((CRM)) rose 52 cents to $83.08 after the cloud-based software maker will commence a tender offer to acquire Demandware Inc for $75 per share or about $2.8 billion in cash.

The transaction is expected to close in the second quarter of Salesforce''s fiscal year 2017, ending on July 31, 2016.

ServiceNow Inc ((NOW)) increased 68 cents to $74.21 after the cloud-based service provider agreed to acquire BrightPoint Security in cash and the transaction is expected to close this month.

The company said more details about the acquisition will be declared in conjunction with the financial results announcement for the second-quarter.

Thoma Bravo, LLC, the private equity firm agreed to acquire user-driven software provider Qlik Technologies Inc for about $3 billion, representing $30.50 per share in cash.

The transaction is expected to close in the third-quarter of 2016.

Xcerra Corp ((XCRA)) slumped 3.6% or 25 cents to $6.75 after the test equipment provider said net sales in the third-quarter ending in April advanced 13.7% from a year ago to $82.2 million.

Net income in the quarter plunged 31.9% to $3.2 million or 6 cents per diluted share compared to $4.7 million or 9 cents per share from the same quarter last year.

Xcerra forecasted revenues in the fourth-quarter to jump between $89 million and $93 million and diluted earnings per share in the range of 7 cents to 10 cents.