Sherwin Williams doesn’t claim to have vast track record in acquisition and possesses experience of getting blocked in deals by the antitrust authorities. Its recently announced acquisition deal has been questioned by the analysts centering accusations of over valuation. Following the announcement, Valspar stock has been witnessed to soar while that of Sherwin Williams to tumble during extended hours trading on Monday.
New York Stock Exchange
Series of bankruptcy decisions indicates the decaying market stake of coal industry and Peabody appears as the latest to file chapter 11 with the New York Stock Exchange. Many coal mining companies are still operating with profits. So warning of bankruptcy by the world’s largest private coal miner doesn’t indicate possible extinction of the coal industry.
Shares of Blue Buffalo and Air Transport Service gained during the Wednesday trading session while shares of Yelp, Unisys Corp and Zagg Inc lost their shares in the stock market.
Deutsche Borse confirmed that it is in talks with London Stock Exchange regarding a potential merger. The parties remain hopeful that a possible merger transaction will take place.
Lumber Liquidators' shares dropped as a CDC health report elevated cancer risk factor in laminate flooring. The formaldehyde content increased the risk of cancer in certain flooring products.
Sysco has initiated a process to acquire US Foods for $3.5 billion in 2013. The effort has been blocked by a federal judge under certain grounds. The debt burdened distribution giant has finally opted to go for IPO on Tuesday. Though size of the IPO hasn’t been mentioned clearly, but the Form S-1 suggests valuation of $100 million which may be revised later on.
U.S. stocks bounced back after being dragged down on Wednesday by volatility in China. Global market followed to regain, while oil price began to stabilize.
The New York Stock Exchange was forced to suspend trading for several hours on Wednesday in the biggest outage to hit a U.S. financial market in nearly two years, unnerving investors already rattled by the meltdown in Chinese stocks and the Greek debt crisis.
Twitter Inc (TWTR.N) posted quarterly revenue that missed Wall Street targets and cut its full-year revenue forecast due to weak demand for its new direct response advertising, sending its shares down as much as 24 percent on Tuesday.
International Business Machines Corp reported a 12 percent fall in first-quarter revenue as the technology company continues to shed unprofitable businesses to focus on cloud-computing initiatives.
Halliburton Co (HAL.N) warned of headwinds in its international operations and pricing pressure for its oilfield services in North America, its largest market, as an extended slump in oil prices continues to force drillers to slash spending.
American Express Co, the world's largest credit card issuer, reported a better-than-expected rise in quarterly profit, helped by higher spending by U.S. card holders and an increase in net interest income.
General Electric Co is nearing a deal to sell practically all of its $30 billion real estate assets to a consortium led by Blackstone Group and Wells Fargo & Co, according to a person familiar with the matter.
Wells Fargo & Co, the fourth-largest U.S. bank by assets, said it will cut 1,000 jobs and close its home-lending servicing office in Milwaukee, Wisconsin.
United Technologies Corp's (UTX.N) chief executive officer said on Thursday that the company will spend $1 billion on acquisitions this year, "maybe a little bit more," even as he eyes bigger targets.