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3M Loses Lawsuit; Jefferies Expects Negligible Impact
Thursday, December 23, 2010 - 10:07am | 80Jefferies reports that the US District Court denied 3M's request for a preliminary injunction in a patent infringement lawsuit against Avery Dennison Corporation (NYSE: AVY), ruling that 3M Company (NYSE: MMM) failed to demonstrate irreparable harm. “We view this ruling as a headline risk but...
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Tyco International Completes Sale of Majority Interest in Electrical and Metal Products Business for $720M
Wednesday, December 22, 2010 - 5:43pm | 57Tyco International Ltd. (NYSE: TYC) today announced that it has completed the sale of a 51% stake in its Electrical and Metal Products business to the private equity firm Clayton, Dubilier & Rice, LLC. Under terms of the transaction announced last month, Tyco will receive total cash proceeds...
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Teleflex Announces $165.8M Prepayment of 2004 Senior Notes
Wednesday, December 22, 2010 - 5:37pm | 49Teleflex Incorporated (NYSE: TFX) announced today that it has prepaid $165.8 million in aggregate principal amount of its 2004 senior notes. This consisted of $72.5 million of 6.66% senior notes due in 2011, $48.3 million of 7.14% senior notes due in 2014, and $45.0 million of 7.46% senior notes...
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GE Healthcare Completes Tender Offer for Clarient Inc.'s Outstanding Shares
Wednesday, December 22, 2010 - 5:34pm | 57GE Healthcare, a unit of General Electric Company (NYSE: GE) announced today that it has completed the tender offer by GE's wholly owned subsidiary, Crane Merger Sub, Inc., for all outstanding shares of common and preferred stock of Clarient Inc., a leading player in the fast-growing molecular...
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Comcast, NBC Universal Merger Delayed Until At Least Next Month (CMCSA, GE)
Wednesday, December 22, 2010 - 4:43pm | 102According to the New York Times, the merger between Comcast (NASDAQ: CMSCA) and General Electric's NBC Universal (NYSE: GE) has been delayed until next month due to regulatory issues. “We have made substantial progress this month with both the FCC and the Department of Justice, and expect that we...
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Infrastructure Stocks are Back - Fluor (FLR), Jacobs Engineering (JEC), Foster Wheeler (FWLT), Et al
Wednesday, December 22, 2010 - 11:24am | 839This market has been very rotational as buyers move from one sector to another. After a long period of underperformance, one area of strength the past 6 weeks has been the infrastructure stocks which were an area of emphasis back in 2007 and early 2008. This is a group that does well mid to late...
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Jefferies Has Buy Rating On Teleflex (TFX)
Wednesday, December 22, 2010 - 8:50am | 71Jefferies & Co. has a Buy rating and a $63 price target on shares of Teleflex (NYSE: TFX). In a note sent to clients, Jefferies writes, "With pure-play status on the horizon, TFX's shares deserve an in-line multiple with competing medical device/supply competitors given its already above...
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Is Philips Undervalued?
Tuesday, December 21, 2010 - 4:25pm | 107The shares of Amsterdam-based conglomerate and light bulb maker Koninklijke Philips Electronics (PHG), commonly known as Philips, first discussed here on June 2, 2009, at a price of $20.30, unexpectedly continued to meander this autumn. Even so, just look on that sideways action as an opportunity...
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3M Sues Andover Healthcare Inc.
Tuesday, December 21, 2010 - 2:04pm | 1143M (NYSE: MMM) and 3M Innovative Properties Co. filed a lawsuit in the U.S. District Court for the District of Minnesota today against Andover Healthcare Inc. seeking a preliminary injunction as well as a permanent injunction and damages regarding Andover's two layer compression bandage systems....
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A Secret 6 Percent Dividend Revealed
Tuesday, December 21, 2010 - 12:53pm | 890Merger and acquisition activity is lifting the bid for many consumer stocks. In the past few weeks, Fortune Brands (NYSE: FO) said it would focus on its spirits business, including Jim Beam, and split off its consumer goods and sports products, making them ripe for...
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GE Capital is Agent for Vertis Holdings, Inc.
Tuesday, December 21, 2010 - 9:29am | 70GE Capital (NYSE: GE) Restructuring Finance today announced it is administrative agent for a $200 million debtor-in-possession credit facility and a $175 million plan of reorganization credit facility for Vertis Holdings, Inc. The financing supports the company's recapitalization under a voluntary...
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3M Said To Prepapre For CEO Deapture (MMM)
Monday, December 20, 2010 - 4:27pm | 181According to a Bloomberg article, 3M (NYSE: MMM), the Minnesota industrial giant is planning to be without its current CEO George Buckley next year. The move is unexpected, as Buckley turns 64 next year, and has told board members he would like to resign next year. His contract expires when he is...
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Altra Holdings Up Sharply On Heavy Volume (AIMC)
Monday, December 20, 2010 - 2:22pm | 148Altra Holdings, Inc. (NASDAQ: AIMC) is up sharply today, gaining more than 4% on nearly twice its average daily volume. Altra was recently cited by a few analysts as a potential takeover target, by Siemens (NYSE: SI) or Brazilian electrical equipment company WEG. "Altra is trading at a discount to...
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Unconfirmed Rumors circulate that JinkoSolar Holding Co., Ltd. (JKS) will get a huge contract with General Electric Co. (GE) major positive for (JKS)
Monday, December 20, 2010 - 10:51am | 44Unconfirmed Rumors circulate that JinkoSolar Holding Co., Ltd. (JKS) will get a huge contract with General Electric Co. (GE) major positive for (JKS).
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Northrop's Euro Hawk Endures - Analyst Blog
Friday, December 17, 2010 - 6:33pm | 447Defense operator Northrop Grumman Corporation (NOC) and Cassidian, the defense and security division of European Aeronautics, Defense & Space Co., have jointly developed an unmanned aircraft system for the German Air Force. The aircraft Euro Hawk successfully passed the endurance test with a...