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News Summary
Thursday, April 7, 2011 - 9:48am | 219Shares of Stage Stores Inc (NYSE: SSI) fell about 0.5% after the company reported 5.3% decline in its March sales at stores open at least one year. However, analysts were expecting same-store sales to drop 6.5%. SSI's total sales for the five weeks ended April 2 dropped 4.1% to $134 million....
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A Peek Into The Market Before The Trading Starts
Thursday, April 7, 2011 - 7:21am | 387Pre-open movers US stock futures are slightly lower this morning, as investors are awaiting economic data and the European Central Bank (ECB) interest-rate meeting. Futures for the Dow Jones Industrial Average lost 6 points to 12,351.00, while those for the S&P 500 index fell 0.90 point to 1,...
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Ingersoll Rand Increases Dividend by 71 Percent and Announces Share Repurchase Program
Thursday, April 7, 2011 - 7:08am | 67Ingersoll-Rand (NYSE: IR) announced that its board of directors declared a quarterly dividend of 12 cents per ordinary share of the company, reflecting a 71 percent increase. The board also authorized the repurchase of up to $2 billion of the company's ordinary shares. The dividend is payable...
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3D Systems Launches New Quickparts E-Commerce Portal (TDSC)
Wednesday, April 6, 2011 - 8:47am | 433D Systems Corporation (NASDAQ: TDSC), announced today the release of a new Quickparts online customer portal offering enhanced user functionality, including instant access to quote and project history based on its patented QuickQuote e-commerce technology.
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Goldman Sachs Foresees Turnaround For MOLX
Wednesday, April 6, 2011 - 8:39am | 103Goldman Sachs has issued a report predicting a turnaround for Molex Inc. (NASDAQ: MOLX). According to the report, "We met with Dave Johnson (CFO) and Steve Martens (IR) of Molex today to catch up on the company's strategy and progress of its turnaround. While investor sentiment in MOLX has moved...
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Mixing-Bowl Transactions and Like-Kind Exchanges
Wednesday, April 6, 2011 - 1:01am | 668A recently published article in the Tax Management Real Estate Journal has provided an interesting interpretation of the IRS and Treasury Department's regulations concerning partnership tax law “abuse.” The regulations in question, §§704(c)(1)(B) and 737, are particularly relevant...
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IDEX Corporation Increases Regular Quarterly Cash Dividend by 13% to $0.17
Tuesday, April 5, 2011 - 4:32pm | 62IDEX Corporation (NYSE: IEX) today announced that its Board of Directors has approved a thirteen percent increase in the company's regular quarterly cash dividend to $0.17 per common share. The next dividend will be paid April 29, 2011 to shareholders of record as of April 15, 2011. This dividend...
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IDEX Corp Increases Regular Quarterly Cash Dividend By 13% (IEX)
Tuesday, April 5, 2011 - 4:32pm | 18IDEX Corp Increases Regular Quarterly Cash Dividend By 13% (NYSE: IEX)
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Baldwin Announces Strategic Actions; Reduces Global Employment Levels by 9%
Tuesday, April 5, 2011 - 9:29am | 86Baldwin Technology Company, Inc. (NYSE: BLD) today announced a strategic reorganization of the Company's operations in Europe and a 9% reduction in global employment levels. The Company estimates that the total cost of implementing this Q3 FY2011 restructuring plan will be approximately $2.4...
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Goldman Sachs Reiterates PNR Sell Rating
Tuesday, April 5, 2011 - 8:24am | 93Goldman Sachs has issued a report maintaining Pentair Inc.'s (NYSE: PNR) Sell Rating following an agreement to acquire Norit Clean Process Technologies (NYSE: CPT). Goldman Sachs writes, "While PNR only expects ROIC to reach 10% by 2014, including favorable tax benefits, we believe the proposed...
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Sterne Agee Increases Estimates And Price Target On Pentair
Tuesday, April 5, 2011 - 8:01am | 93According to Sterne Agee, Pentair (NYSE: PNR) estimates and price target are increased. Sterne Agee reported that Pentair announced an agreement to acquire Norit Holding B.V.'s Clean Process Technologies (CPT) division for €503M (~$705M), or ~2x estimated 2011 revenue of ~$350M, plus minimal net...
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Citi Upgrades Rating On PNR To Buy, Increases PT To $45
Tuesday, April 5, 2011 - 7:38am | 105Citi, citing the acquisition of privately held filtration business, Norit, has upgraded its rating on Pentair, Inc. (NYSE: PNR) from Hold to Buy and has increased the price target from $39 to $45. According to Citi, “the Norit deal marks a decisive and frankly unexpectedly bold move. Investors...
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Oppenehimer Upgrades IDEX Corporation To Outperform, PT At $53
Tuesday, April 5, 2011 - 7:16am | 25Oppenheimer has upgraded IDEX Corporation (NYSE: IEX) from Perform to Outperform and has established a $53 price target.
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Citigroup Upgrades Pentair To Buy, PT To $45
Tuesday, April 5, 2011 - 6:56am | 27Citigroup has upgraded Pentair, Inc. (NYSE: PNR) from Hold to Buy and has raised the price target from $39 to $45.
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Citigroup Upgrades PNR To Buy
Tuesday, April 5, 2011 - 6:11am | 47Analysts at Citigroup upgrade Pentair Inc (NYSE: PNR) from “hold” to “buy.” The target price for PNR has been raised from $39 to $45. PNR shares closed at $38.50 yesterday. More Analyst Ratings here