Alaska Airlines (NYSE:ALK) on April 4, 2016, officially announced the acquisition of Virgin America (NASDAQ:VA) for $57.00/share in an all-cash offer. At that time, the companies reported that the deal was expected to close by January 1, 2017.
From April 4, 2016 until September 21, 2016, Virgin America's stock traded in the $55-$56/share range, at a slight discount to the offer of $57/share. Then, a much larger discount developed on September 22, 2016, when Virgin America's stock dropped about 5% on the day. A few days later, on September 26, 2016, Alaska Airlines confirmed rumors with a press release that the U.S. DOJ had requested an extension from September 30, 2016 until October 17, 2016 for regulatory review.
day trade: S&P Smallcap 600(PH)
Advisors' Opinion:- [By Charles Mizrahi, President and CEO, Hampton Investors, Inc.]
Parker Hannifin (PH) generates strong revenue from its aerospace division, while its primary industrial segment is lagging.
Overall, we like the company's balanced portfolio. PH had solid order rates this past year with backlog of $3.6 billion between its industrial and aerospace segments.
day trade: Euronet Worldwide Inc.(EEFT)
Advisors' Opinion:- [By Peter Graham]
Small cap Blackhawk Network Holdings�moved sideways�after its IPO spinoff from Safeway (NYSE: SWY) with shares performing better in late 2014 while�potential peer of Green Dot Corporation (NYSE: GDOT) has underperformed and Euronet Worldwide, Inc (NASDAQ: EEFT) has outperformed:
day trade: World Energy Solutions Inc(DE)
Advisors' Opinion:- [By Shauna O'Brien]
On Thursday, Morgan Stanley reported that it has begun coverage on agriculture company Deere & Company (DE).
The firm has initiated coverage on DE with an “Underweight” rating and $72 price target. This price target suggests a 14% decline from the stock’s current price of $83.63.
Analyst Nicole DeBlase noted, ��we forecast 8% downside to 2014e consensus, as we are concerned about recent deterioration in the used equipment market, augmented by a negative margin mix shift, as evidenced by our proprietary survey work. Our $72 PT implies 14% downside, and we project a 2-to-1 negative risk/reward ratio.��
Deere & Company shares were down 98 cents, or 1.16%, during Thursday morning trading. The stock has been mostly flat YTD.
- [By Cameron Swinehart]
A diversified agriculture ETF with holdings in a variety of the largest agribusiness companies globally. Holdings include Bunge (BG), Archer Daniel Midland (AMD), PotashCorp (POT) and Deere (DE).
- [By Ben Levisohn]
Shares of Joy Global have gained 1.2% to $22.49 at 3:39 p.m. today, nearly double Caterpillar’s (CAT) 0.6% rise to $76.91. Deere (DE) has dropped 0.1% to $87.40.
- [By Lee Jackson]
Deere & Co. (NYSE: DE) was started as Underweight with a $72 price target (versus $84.48 close) by Morgan Stanley.
Dollar General Corp. (NYSE: DG) was raised to Buy with a $66 price target at Sterne Agee.
- [By Ben Levisohn]
Of course, a lot happened this week even if it wasn’t reflected in the indexes themselves. Prison stocks got destroyed after the DoJ said it would no longer need their services. Deere (DE) had its biggest gain since December 2008. And Target (TGT) proved that rumors of a retail renaissance might be premature.
day trade: Rigel Pharmaceuticals Inc.(RIGL)
Advisors' Opinion:- [By Lisa Levin]
Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) shares dropped 22 percent to $2.52 after the company reported results from the second FIT Phase 3 study for fostamatinib. The company disclosed that the study did not meet primary endpoint.
