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SWK

Stanley Black & Decker

$117.66

-4.02 (-3.30%)

, NWL

Newell Brands

$50.34

-1 (-1.95%)

06:34
10/12/16
10/12
06:34
10/12/16
06:34

Stanley Black & Decker to acquire tools business of Newell Brands for $1.95B

Stanley Black & Decker (SWK) announced that it has entered into a definitive agreement to acquire the Tools business of Newell Brands (NWL), which includes the highly attractive industrial cutting, hand tool and power tool accessory brands Irwin and Lenox, for $1.95B in cash. Stanley Black & Decker expects the transaction to result in annual cost synergies of approximately $80M-$90M by year three. The purchase price of $1.95B represents a LTM EBITDA multiple of approximately 13x. The acquisition is expected to be approximately 15c accretive to EPS in year one post-closing, increasing to approximately 50c per share by year three, excluding approximately $125M to $140 of restructuring and other deal related costs and approximately $40M of non-cash inventory step-up charges, which in the aggregate will largely be incurred during years one and two. The company expects to fund the acquisition with a combination of available cash and debt. The transaction, which is subject to customary closing conditions, including regulatory approvals, is expected to close in the first half of 2017.

SWK

Stanley Black & Decker

$117.66

-4.02 (-3.30%)

NWL

Newell Brands

$50.34

-1 (-1.95%)

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    Oct

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    Nov

SWK Stanley Black & Decker
$117.66

-4.02 (-3.30%)

07/19/16
CLVD
07/19/16
NO CHANGE
CLVD
Stanley Black & Decker Q2 tool deman appears softer, says Cleveland Research
07/25/16
ZELM
07/25/16
DOWNGRADE
ZELM
Hold
Stanley Black & Decker downgraded to Hold from Buy at Zelman
08/22/16
LBOW
08/22/16
DOWNGRADE
LBOW
Neutral
Stanley Black & Decker downgraded to Neutral from Buy at Longbow
Longbow analyst David MacGregor downgraded Stanley Black & Decker to Neutral siting balanced risk/reward as shares are up 35% since mid-Q1 2016.
08/22/16
08/22/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Workday (WDAY) downgraded to Mixed from Positive at OTR Global and to Hold from Buy at Needham with Needham analyst Scott Berg citing industry checks that indicate second quarter billings upside will be limited and Financials sales remain challenging. 2. Garmin (GRMN) downgraded to Market Perform from Outperform at Raymond James with analyst Tavis McCourt citing valuation. 3. Urban Outfitters (URBN) downgraded to Neutral from Buy at Goldman with analyst Lindsay Drucker Mann saying Urban has successfully turned around the UO brand and is near-peak operating performance, leaving less room for meaningful improvement from here. 4. Stanley Black & Decker (SWK) downgraded to Neutral from Buy at Longbow with analyst David MacGregor citing balanced risk/reward as shares are up 35% since mid-first quarter. 5. Madison Square Garden (MSG) downgraded to Hold from Buy at Jefferies with the firm citing valuation and lack of near-term catalysts. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
NWL Newell Brands
$50.34

-1 (-1.95%)

05/19/16
RBCM
05/19/16
NO CHANGE
RBCM
Newell Brands new CFO has several positive attributes, says RBC Capital
RBc Capital believes that Newell's (NWL) new CFO, Ralph Nicoletti, will bring "increased financial discipline," a focus on total shareholder returns, "and a very analytical, research driven approach to decision making and strategy" to the position. The firm notes that some investors have been concerned about the 36% underperformance by Tiffany's (TIF) stock during his tenrue at that company. However, RBC says that Tiffany's results have always been "volatile," particularly recently due to macro issues. RBC says that the shares of Alberto-Culver and Cigna (CI) outperformed during Nicoletti's stints as CFO of those companies. RBC keeps a $60 price target and Top Pick rating on Newell.
08/01/16
UBSW
08/01/16
NO CHANGE
Target $59
UBSW
Buy
Newell Brands investor concerns over growth abating, says UBS
UBS said as Newell Brands investors concerns abate, their attention will turn to the long-term. The firm tweaked its growth forecast but raised its earnings forecast to reflect the company's underlying strength, better margin mix, and sales leverage benefits. UBS reiterated its Buy rating and raised its price target to $59 from $55 on Newell Brands shares.
08/01/16
MSCO
08/01/16
NO CHANGE
MSCO
Overweight
Newell Brands reiterated as a Top pIck at Morgan Stanley
Morgan Stanley analyst Dara Mohsenian said Newell Brands' valuation does not reflect growth opportunities post the Jarden deal. The analyst believes Newall's market share gains are sustainable and sees substantial earnings upside for the combined entity. Mohsenian reiterates Newall as an Overweight and Top Pick with plenty of room for multiple expansion.
09/14/16
JEFF
09/14/16
NO CHANGE
Target $66
JEFF
Buy
Newell Brands remains a top pick at Jefferies
Jefferies analyst Kevin Grundy says his regional market analysis suggests that Yankee Candle can double sales to $2B over the next six-to-seven years. He believes shares of Newell Brands remain undervalued and expects consensus estimates to move higher. The analyst calls the stock a top pick with a Buy rating and $66 price target.

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BMY

Bristol-Myers

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EXEL

Exelixis

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0.14 (0.50%)

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ARRY

Array BioPharma

$13.14

0.26 (2.02%)

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SO

Southern Company

$44.44

-0.46 (-1.02%)

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TECK

Teck Resources

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TWTR

Twitter

$23.66

-0.38 (-1.58%)

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SPY

SPDR S&P 500 ETF Trust

$280.41

1.27 (0.45%)

, SPX

S&P 500

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SPDR S&P 500 ETF Trust

$280.41

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FB

Facebook

$181.29

1.49 (0.83%)

, NYT

New York Times

$21.90

1.7 (8.42%)

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$181.29

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NYT

New York Times

$21.90

1.7 (8.42%)

NWSA

News Corp.

$17.22

0.21 (1.23%)

FOXA

21st Century Fox

$36.65

0.47 (1.30%)

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WMT

Walmart

$104.59

0.29 (0.28%)

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AAPL

Apple

$178.46

-0.8 (-0.45%)

, NFLX

Netflix

$220.46

0.13 (0.06%)

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AAPL

Apple

$178.46

-0.8 (-0.45%)

NFLX

Netflix

$220.46

0.13 (0.06%)

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BA

Boeing

$337.73

-2.43 (-0.71%)

08:50
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AAPL

Apple

$178.46

-0.8 (-0.45%)

, EADSY

Airbus

$28.43

0.755 (2.73%)

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AAPL

Apple

$178.46

-0.8 (-0.45%)

EADSY

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0.755 (2.73%)

BA

Boeing

$337.73

-2.43 (-0.71%)

VZ

Verizon

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0.36 (0.70%)

NYT

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TWX

Time Warner

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DIS

Disney

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TIME

Time Inc.

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AMZN

Amazon.com

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BAC

Bank of America

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GS

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BK

BNY Mellon

$56.61

1.26 (2.28%)

WLKP

Westlake Chemical Partners

$24.45

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MON

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$120.66

1.8 (1.51%)

DLTR

Dollar Tree

$114.73

1.83 (1.62%)

CE

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LYB

LyondellBasell

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TSE

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EYE

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AMTD

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SCHW

Charles Schwab

$55.48

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ADS

Alliance Data

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5.88 (2.30%)

FISV

Fiserv

$138.11

0.17 (0.12%)

FLT

FleetCor

$206.65

3.4 (1.67%)

HAWK

Blackhawk

$45.25

0.1 (0.22%)

MTZ

MasTec

$53.30

1.25 (2.40%)

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CME

CME Group

$154.28

2.07 (1.36%)

, GS

Goldman Sachs

$256.12

5.15 (2.05%)

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Conference/Events
American Bar Association to hold annual meeting »

Derivatives & Futures…

CME

CME Group

$154.28

2.07 (1.36%)

GS

Goldman Sachs

$256.12

5.15 (2.05%)

BP

BP

$42.40

-0.5 (-1.17%)

C

Citi

$78.30

0.91 (1.18%)

BAC

Bank of America

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0.24 (0.76%)

CS

Credit Suisse

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0.13 (0.69%)

CRL

Charles River

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MS

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AMGN

Amgen

$189.28

1.69 (0.90%)

, BAYRY

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AMGN

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BAYRY

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BLRX

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BMY

Bristol-Myers

$62.28

0.45 (0.73%)

CELG

Celgene

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DNA

Bought by RHHBY

ESALY

Eisai

$56.88

0.115 (0.20%)

EXEL

Exelixis

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0.14 (0.50%)

HALO

Halozyme

$17.98

0.13 (0.73%)

INCY

Incyte

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1.24 (1.35%)

IPSEY

Ipsen

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LXRX

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MGNX

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MRK

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NVS

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SNY

Sanofi

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ONCY

Oncolytics

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WLFC

Willis Lease

$26.66

0.05 (0.19%)

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DPS

Dr Pepper Snapple

$96.35

1.03 (1.08%)

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RCII

Rent-A-Center

$11.70

0.09 (0.78%)

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AR

Antero Resources

$18.74

-0.59 (-3.05%)

17:44
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Antero Resources analyst commentary at MUFG »

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T

AT&T

$37.21

0.06 (0.16%)

, TWX

Time Warner

$93.36

0.39 (0.42%)

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T

AT&T

$37.21

0.06 (0.16%)

TWX

Time Warner

$93.36

0.39 (0.42%)

VZ

Verizon

$51.91

0.36 (0.70%)

CMCSA

Comcast

$42.50

0.65 (1.55%)

CMCSK

Comcast

DISH

Dish

$45.26

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CHTR

Charter

$366.05

0.8 (0.22%)

DIS

Disney

$110.59

0.17 (0.15%)

VIA

Viacom

$39.20

-0.5 (-1.26%)

VIAB

Viacom

$33.36

-0.59 (-1.74%)

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GRPN

Groupon

$5.57

0.46 (9.00%)

17:44
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CELG

Celgene

$102.65

0.93 (0.91%)

17:41
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17:41
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VALU

Value Line

$19.60

0.3 (1.55%)

17:40
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01/19
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17:40
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Value Line reaffirms $3M stock repurchase program »

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VALU

Value Line

$19.60

0.3 (1.55%)

17:39
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01/19
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Hot Stocks
Value Line declares special dividend of 20c per share »

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ZEAL

Zealand Pharma

$15.05

-0.78 (-4.93%)

17:34
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01/19
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17:34
Hot Stocks
Zealand Pharma: FDA approves IND for Phase 3 trials of dasiglucagon in CHI »

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GNMSF

Genmab

$190.75

2.75 (1.46%)

, JNJ

Johnson & Johnson

$147.36

0.44 (0.30%)

17:29
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01/19
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17:29
Hot Stocks
Genmab says FDA grants priority review for daratumumab »

Genmab (GNMSF) announced…

GNMSF

Genmab

$190.75

2.75 (1.46%)

JNJ

Johnson & Johnson

$147.36

0.44 (0.30%)

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