Month: June 2015

Canadian handset maker, BlackBerry Limited BBRY has finally settled its longstanding legal dispute with Apple Inc.’s AAPL iPhone keyboard designer – Typo. Last year, BlackBerry had filed a patent lawsuit against Typo for the infringement of its popular keyboard design. The keyboard was available for $99 on Apple’s iPhones 5 and 5S […]

U.S. Steel X has acquired AK Steel's AKS interest in Double Eagle Steel Coating Company (DESCO) – a leading electro-galvanized steel maker – in an effort to strengthen its foothold in the automotive space. DESCO’s rolled steel products are used by automakers and suppliers for parts such as doors and body panels […]

With an aim to strengthen its position in the newspaper industry, Gannett Co., Inc. GCI recently acquired the remaining stake of 59.36% in the Texas-New Mexico Newspapers Partnership from Digital First Media. The diversified media conglomerate, which carries a Zacks Rank #3 (Hold), had to relinquish its 19.49% stake in the California Newspapers Partnership and pay additional cash for completion of this deal which provides it with full control over 11 newspapers in three states. […]

Ascena Retail Group Inc ’s ASNA strong pace of expansion continues as it recently announced the opening of one more Lane Bryant outlet in California. The store, located at Westfield Culver City in Culver City, will open its doors to customers with an Exclusive Grand Opening Preview Event on Jun 4. […]

Valspar VAL has completed its takeover of the performance coatings businesses of Quest Specialty Chemicals for an undisclosed price. The company announced the deal along with its second-quarter fiscal 2015 (ended May 1, 2015) results last month. The assets acquired by Valspar include products catering the automotive refinish and industrial markets. […]

We have issued an updated research report on Hibbett Sports Inc. HIBB on Jun 1, 2015 following the company’s dismal performance in the first quarter of fiscal 2016. After reporting three consecutive quarters of earnings beat, Hibbett succumbed to a negative earnings surprise in the first quarter […]

It was a very big week for the sector that saw some mega-acquisitions involving Avago AVGO -Broadcom BRCM and Intel INTC -Altera ALTR , as well as the Google GOOGL I/O 2015. M&A Across Semiconductor Industry Avago-Broadcom : Avago is paying Broadcom $37 billion ($17 billion cash and the rest in shares) for a 32% stake in the combined company to be called Broadcom. […]

We have issued an updated research report on Colgate-Palmolive Co. CL on Jun 1, 2015. Colgate’s significant international presence exposes the company to various risks associated with foreign laws and regulations; foreign consumer preferences; global economic challenges; disruptions or delays in shipments, and currency fluctuations, all of which could negatively affect operations. […]

U.S. construction spending touched its highest level in more than six years in April. Rise in construction spending along with encouraging new home sales and housing starts numbers indicate a revival in the broader housing sector. […]

Shares of O'Reilly Automotive Inc. ORLY gained 1.4% to reach $222.49 on Jun 1, after the company announced an increase of $500 million in its share repurchase authorization. […]

Forest products manufacturer Resolute Forest Products Inc. RFP is well on its way to executing its growth strategy with a new contemporary manufacturing facility that will make at-home, premium private label tissue paper, including bath and towel. The new plant is focused on the lucrative private label market, and will strengthen Resolute’s foothold in the tissue business […]

KapStone Paper and Packaging Corporation KS recently completed the acquisition of privately held packaging materials distributor Victory Packaging for $615 million in cash. The transaction will enhance the profitability of KapStone and boost its cash flow. […]

Business services provider ABM Industries Incorporated ABM recently announced its decision to provide integrated facility solutions for Kuehne + Nagel branches and distribution centres across the U.S. ABM aims to provide a full array of building and facilities management services to Kuehne + Nagel's various facilities including office space, warehouses and distribution centers for pharmaceutical and healthcare, retail and automotive companies. […]

China’s markets experienced their strongest two-day decline in nearly six years last week. This led to fears that the world’s strongest market rally was ending. However, in a remarkable recovery, stocks have rebounded for two successive days this week […]

Medtronic plc MDT reported its fourth-quarter fiscal 2015 financial results, also marking the first quarter of Medtronic-Covidien’s consolidated performance following the completion of the long-awaited $42.9 billion takeover of Covidien on Jan 26. Adjusted earnings per share (EPS) came in at $1.16 in the fourth quarter, ahead of the Zacks Consensus Estimate by 4 cents. However, earnings fell 1.7% year over year. […]

Bank of America Corporation ’s BAC Merrill Lynch has been penalized by the Securities and Exchange Commission (SEC) for using incorrect data in executing short sale orders. Two units of Merrill Lynch are set to pay $11 million, and admit to their wrongdoing. The total amount consists of a penalty of $9 million, disgorgement of $1.57 million and $0.33 million in prejudgment interest […]

It was a week where oil prices settled above the $60-a-barrel level but natural gas hit a four-week low. On the news front, Exxon Mobil Corp. XOM received conditional authorization for its Alaska LNG terminal, while Chevron Corp. […]