2016-10-23 21:07:59 | On The Fly: Top five weekend stock storiesCatch up on the weekend's top five stories with this list compiled by The Fly: 1. AT&T (T) reached an agreement to acquire Time Warner (TWX) in a cash-and-stock deal valued at $107.50 per share, or about $85B, the companies announced Saturday. The telecom and cable giant also reported its third quarter results, showing profits of 74c on revenue of $40.9B versus the 74c and $41.15B that was expected. As media outlets speculated on the strategic merits of the deal, senior government officials -- including presidential candidate Hillary Clinton, Senator Bernie Sanders, and leaders from the Senate antitrust committee -- called for close scrutiny of the combination. 2. Rockwell Collins (COL) announced a deal to buy B/E Aerospace (BEAV) for about $62.00 per share, or $6.4B, while also reporting fourth quarter earnings of $1.58 on revenue of $1.45B against estimates of $1.57 and $1.48B. B/E Aerospace also released its quarterly report in conjunction with the news, showing earnings per share of 83c on revenue of $733M as compared to forecasts of 80c and $707.45M. 3. Not to be left out in an M&A heavy weekend, Genworth (GNW) announced its acquisition by China Oceanwide for approximately $2.7B, or $5.43 per share. The mortgage insurer also secured $1.1B in a separate capital infusion from the Chinese group as it looks to offset nearly the same amount in special charges for the quarter. 4. Lionsgate (LGF) broke a string of box office blunders with this weekend's release of "Tyler Perry's Boo! A Madea Halloween," which nearly doubled analyst estimates in a surprise upset of Viacom (VIA) action thriller sequel "Jack Reacher: Never Go Back." 5. Amerco (UHAL), Danone (DANOY), Allergan (AGN), Caterpillar (CAT), Applied Materials (AMAT), Integrated Device (IDTI), Energous (WATT) and Check-Cap (CHEK) saw positive calls in Barron's. | |
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