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ATU

Actuant

$22.90

-0.2 (-0.87%)

19:22
08/16/17
08/16
19:22
08/16/17
19:22

Actuant agrees to divest Viking SeaTech, acquire Mirage Machines

Actuant Corporation announced the signing of a definitive agreement to sell its Viking SeaTech business to Acteon Group Limited, a global subsea services business, for approximately $12M. Actuant has also signed a definitive agreement to purchase Mirage, a $12M revenue provider of industrial and energy maintenance tools, from Acteon for approximately $16M, plus potential future performance based consideration. The two transactions will close simultaneously, and are subject to customary regulatory approvals and closing conditions. The Viking business generated approximately $20M in revenue during the past twelve months. In conjunction with the sale, Actuant expects to record after tax charges in the range of $110M-$125M, including a cash charge of approximately $28M from unwinding certain rental fleet operating leases, including those resulting from the mid-2014 sale and leaseback transaction. The remaining charges largely consist of non-cash items including the write down of Viking assets to their net realizable value and the recognition in earnings of the cumulative effect of foreign currency rate changes since acquisition. These charges will be incurred during the fourth quarter of fiscal 2017 and early in fiscal 2018, upon closing. "We are pleased to have reached this mutually beneficial agreement with Acteon. On a pro-forma basis, Actuant's trailing twelve month adjusted earnings per share would have been approximately 15c-16c higher, taking into account Viking's performance in a very challenging upstream market and the accretion associated with Mirage. We believe these proactive portfolio management actions will improve overall shareholder value."

ATU Actuant
$22.90

-0.2 (-0.87%)

07/11/17
WOLF
07/11/17
INITIATION
WOLF
Peer Perform
Actuant initiated with a Peer Perform at Wolfe Research
06/22/17
GABE
06/22/17
UPGRADE
GABE
Buy
Actuant upgraded to Buy from Hold at Gabelli
Gabelli analyst Justin Bergner upgraded Actuant to Buy with a $25 price target following reset Q4 guidance that was reset lower than expected, but said investors can buy Actuant and get the energy component for close to free.
06/22/17
LEHM
06/22/17
UPGRADE
Target $20
LEHM
Equal Weight
Actuant upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Robert Wertheimer upgraded Actuant to Equal Weight and maintained a $20 price target saying his negative thesis is "played out" and negative end-market trends in energy are largely reflected in valuation.
06/21/17
JPMS
06/21/17
UPGRADE
JPMS
Neutral
Actuant upgraded to Neutral from Underweight at JPMorgan

TODAY'S FREE FLY STORIES

OPK

OPKO Health

$6.33

0.32 (5.32%)

12:05
09/21/17
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Opko Health call volume above normal and directionally bullish »

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OFIX

Orthofix

$47.73

-0.78 (-1.61%)

11:58
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11:58
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Orthofix management to meet with SunTrust »

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LLEX

Lilis Energy

$3.99

-0.03 (-0.75%)

11:56
09/21/17
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Conference/Events
Lilis Energy management to meet with SunTrust »

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Treasury Action: month- and quarter-end are quickly sneaking up »

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ICFI

ICF International

$50.95

-0.25 (-0.49%)

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Conference/Events
ICF International management to meet with SunTrust »

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CRZBY

Commerzbank

$13.02

0.28 (2.20%)

, BNPQY

BNP Paribas

$39.58

-0.14 (-0.35%)

11:53
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Periodicals
German government is favoring Commerzbank-BNP Paribas merger, CNBC says »

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CRZBY

Commerzbank

$13.02

0.28 (2.20%)

BNPQY

BNP Paribas

$39.58

-0.14 (-0.35%)

UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

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MRVL

Marvell

$18.03

-0.12 (-0.66%)

11:50
09/21/17
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Options
Put buyers active in Marvell as shares tick higher »

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  • 05

    Oct

TSLA

Tesla

$373.91

-1.19 (-0.32%)

11:48
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Periodicals
Tesla to stop selling cheapest Model S this weekend, Business Insider says »

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  • 02

    Oct

FANG

Diamondback Energy

$97.32

3.04 (3.22%)

11:45
09/21/17
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11:45
Hot Stocks
Diamondback Energy EVP Molnar sells 5,000 shares »

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FINL

Finish Line

$9.43

-0.13 (-1.36%)

11:40
09/21/17
09/21
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11:40
Options
Large spread in Finish Line ahead of earnings »

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  • 22

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General news
Oil Action: NYMEX crude »

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SQ

Square

$28.24

-0.23 (-0.81%)

, INTC

Intel

$37.07

-0.16 (-0.43%)

11:32
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Square names Intel's Naveen Rao to board »

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SQ

Square

$28.24

-0.23 (-0.81%)

INTC

Intel

$37.07

-0.16 (-0.43%)

03/08/13
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WASH

Washington Trust

$53.05

0.15 (0.28%)

11:31
09/21/17
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Hot Stocks
Washington Trust increases quarterly dividend by 1c »

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UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

, CRZBY

Commerzbank

$13.02

0.28 (2.20%)

11:30
09/21/17
09/21
11:30
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11:30
Periodicals
UniCredit expresses interest in Commerzbank merger, Reuters reports »

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UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

CRZBY

Commerzbank

$13.02

0.28 (2.20%)

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OIH

Oil Services Holders Trust

$24.86

-0.33 (-1.31%)

11:30
09/21/17
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Options
Short-term call buyers drilling for profits in Market Vectors Oil Services Fund »

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ICPT

Intercept

$98.12

1.92 (2.00%)

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SHOR

ShoreTel

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Breaking Hot Stocks news story on ShoreTel »

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EFX

Equifax

$97.46

1.46 (1.52%)

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Equifax CEO to testify to Senate panel on October 4, Bloomberg says »

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  • 22

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FSLR

First Solar

$48.85

-0.01 (-0.02%)

, SPWR

SunPower

$7.86

-0.51 (-6.09%)

11:24
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Hot Stocks
Before the Move: Watch First Solar, others ahead of ITC decision »

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FSLR

First Solar

$48.85

-0.01 (-0.02%)

SPWR

SunPower

$7.86

-0.51 (-6.09%)

CSIQ

Canadian Solar

$16.02

-0.69 (-4.13%)

JKS

JinkoSolar

$26.13

-0.16 (-0.61%)

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GLNG

Golar LNG

$21.15

0.66 (3.22%)

11:20
09/21/17
09/21
11:20
09/21/17
11:20
Options
Golar LNG calls active as shares see relative strength »

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$NSD

NASDAQ Market Internals

11:17
09/21/17
09/21
11:17
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11:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

11:16
09/21/17
09/21
11:16
09/21/17
11:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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COF

Capital One

$81.16

-0.64 (-0.78%)

11:15
09/21/17
09/21
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11:15
Options
Capital One put volume heavy and directionally bearish »

Bearish flow noted in…

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11:15
09/21/17
09/21
11:15
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11:15
General news
Treasury announced an $88 B 3-pronged package of coupon auctions »

Treasury announced an $88…

PEG

PSEG

$46.31

1.08 (2.39%)

11:10
09/21/17
09/21
11:10
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11:10
Conference/Events
PSEG management to meet with Evercore ISI »

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