Market Wrap: Initial Claims Near 5-Year Low; Gannett's Smart Buy; Eau de Coty
Tweet
Share
E-mail
Get Alerts GCI Hot Sheet
Join SI Premium – FREE
Market wrap for June 13th
End of the Day: S&P 500 up 23.8 to 1,636.36; Dow Jones up 15,176.08 to 180.9; Nasdaq up 44.9 to 3,445.37
* Initial claims fell 12,000 to 334,000 applications for the week ended June 8th. Expectations were looking for a more moderate drop to 345,000 applications from 346,000 reported the prior week. Claims are at a five-year low, which was 327,000 at the end of April.
* Gannett Co., Inc. (NYSE: GCI) and Belo Corp. (NYSE: BLC) jointly announced today that they have entered into a definitive merger agreement under which Gannett will acquire all outstanding shares of Belo for $13.75 per share in cash, or approximately $1.5 billion, plus the assumption of $715 million in existing debt for an enterprise value of approximately $2.2 billion.
* The IPO for Coty Inc. (NYSE: COTY) opened for trading at $17.50 after pricing 57,142,857 shares at $17.50 per share, the middle of the expected $16.50 to $18.50 range. For more color, click here.
* DuPont (NYSE: DD) said it expects its first half operating EPS to be about 10 percent below last year versus the 7-9 percent lower year-over-year outlook communicated April 23. For the full-year 2013, DuPont expects operating EPS to be at the low end of its previously issued guidance range of $3.85 - $4.05 per share, based on anticipated improvement in global industrial market demand. DuPont will report its second-quarter financial results on July 23.
* One of Warburg Pincus' larger holdings, Antero Resources Corp. (NYSE: AR), fled for a $1 billion IPO today. The filing was mulled last month, with expected valuation of the company around $10 billion.
* Smith & Wesson Holding Corp. (Nasdaq: SWHC) is higher following issuance of strong preliminary numbers for its fourth-quarter and fiscal 2013 reporting period. For Q413, the company sees EPS of about $0.44 and revs of $179 million, while the Street was looking for EPS of $0.40 and revs of $170.7 million. For more color, click here.
* Marathon Oil Corporation (NYSE: MRO) announced that its chairman and CEO Clarence Cazalot has elected to retire. Replacing him as CEO will be Lee M. Tillman, of ExxonMobil (NYSE: XOM).
End of the Day: S&P 500 up 23.8 to 1,636.36; Dow Jones up 15,176.08 to 180.9; Nasdaq up 44.9 to 3,445.37
* Initial claims fell 12,000 to 334,000 applications for the week ended June 8th. Expectations were looking for a more moderate drop to 345,000 applications from 346,000 reported the prior week. Claims are at a five-year low, which was 327,000 at the end of April.
* Gannett Co., Inc. (NYSE: GCI) and Belo Corp. (NYSE: BLC) jointly announced today that they have entered into a definitive merger agreement under which Gannett will acquire all outstanding shares of Belo for $13.75 per share in cash, or approximately $1.5 billion, plus the assumption of $715 million in existing debt for an enterprise value of approximately $2.2 billion.
* The IPO for Coty Inc. (NYSE: COTY) opened for trading at $17.50 after pricing 57,142,857 shares at $17.50 per share, the middle of the expected $16.50 to $18.50 range. For more color, click here.
* DuPont (NYSE: DD) said it expects its first half operating EPS to be about 10 percent below last year versus the 7-9 percent lower year-over-year outlook communicated April 23. For the full-year 2013, DuPont expects operating EPS to be at the low end of its previously issued guidance range of $3.85 - $4.05 per share, based on anticipated improvement in global industrial market demand. DuPont will report its second-quarter financial results on July 23.
* One of Warburg Pincus' larger holdings, Antero Resources Corp. (NYSE: AR), fled for a $1 billion IPO today. The filing was mulled last month, with expected valuation of the company around $10 billion.
* Smith & Wesson Holding Corp. (Nasdaq: SWHC) is higher following issuance of strong preliminary numbers for its fourth-quarter and fiscal 2013 reporting period. For Q413, the company sees EPS of about $0.44 and revs of $179 million, while the Street was looking for EPS of $0.40 and revs of $170.7 million. For more color, click here.
* Marathon Oil Corporation (NYSE: MRO) announced that its chairman and CEO Clarence Cazalot has elected to retire. Replacing him as CEO will be Lee M. Tillman, of ExxonMobil (NYSE: XOM).
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- S&P 500 may pull back before midterms, but Citi says buy the dip
- BofA maintains underperform ratings on six BDC stocks
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
Create E-mail Alert Related Categories
Special ReportsRelated Entities
Warburg Pincus, Standard & Poor's, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
