Year: 2014

It seems that Hertz Global Holdings, Inc. ’s ( HTZ ) decision last week of adopting a one-year shareholder right plan to prevent itself from a hostile takeover by activist investors was taken at the right time. On Jan 3, CNBC reported that billionaire activist investor, Carl Icahn, has acquired 30–40 million shares or 6%–9% stake in the largest publicly traded U.S […]

Agricultural equipment maker AGCO Corporation ( AGCO ) has announced the expiration of the tender offer for its outstanding 1 1/4% Convertible Senior Subordinated Notes due 2036. According to the terms of the notes, each holder had the right to make AGCO purchase on Jan 2, 2014, all or part of such holder’s notes at a price equal to 100% of the principal amount of the notes, plus accrued and unpaid interest. Recently, AGCO’s Board sanctioned the repurchase of shares worth up to $500 million. […]

Shares of Myriad Genetics Inc. ( MYGN ) fell 12.2%, following the Dec 27, 2013 announcement by the Centers for Medicare & Medicaid Services (CMS) to cut reimbursement rates on the former’s popular breast cancer test, BRACAnalysis. […]

Denbury Resources Inc. ( DNR ) announced an increase of $250 million to its authorized share repurchase program, leaving $422 million of authorized repurchases remaining as of Dec 31, 2013. […]

Leading passenger and cargo carrier Delta Air Lines Inc. ( DAL ) reported growth in traffic for Dec 2013 owing to strong contributions from domestic, Latin America and Atlantic regions. […]

On Jan 3, 2014, we reiterated our Neutral recommendation on electronic component distributor Arrow Electronics Inc. ( ARW ). […]

Shares of Lindsay Corporation ( LNN ) edged up 1% to close at $83.10 on Jan 3 despite the company reporting a 31% year-over-year drop in its earnings per share to 79 cents in the first quarter of fiscal 2014. The earnings drop was anticipated as significantly lower agricultural commodity prices were expected to affect domestic irrigation revenues in the quarter. The announcement of a dividend hike and share repurchases lent support to the stock […]

On Jan 2, 2014 we reiterated our Neutral recommendation on regional bank BancorpSouth, Inc. ( BXS ), based on its ability to grow non-interest revenues amid a slowly recovering macroeconomic environment, its capital adequacy and stabilizing credit metrics. However, regulatory reforms, mounting expenses and an unsettled global economy might act as deterrents to this stock […]

Affiliated Managers Group Inc. ’s ( AMG ) steady increase in assets under management (AUM) and its significant organic growth prospects position the company favorably amongst its peers. […]

Shares of Artisan Partners Asset Management Inc. ( APAM ) crafted a new 52-week high, touching $66.04 on Jan 3, 2014. Notably, the closing price of this investment manager marks a solid return of roughly 71.9% since it became a publicly traded company in Mar 2013. […]