Tag Archives: Corp

Crescent Point Energy Corp falls on Legacy Oil and Gas deal


Shareholders don’t exactly love Crescent Point Energy Corp.’s $1.5-billion deal to acquire Legacy Gas and oil Inc. – at least not at first glance. The stock was down almost five per cent Wednesday, after the Calgary-based oil and gas producer announced it is buying its competitor to add assets in the core southeast Saskatchewan area. Strategically, the deal makes a ...

Read More »

Intel Corp to buy Altera Corp in US$16.7-billion deal


Intel Corp agreed to buy Altera Corp for US$16.7 billion as the world\’s biggest chipmaker seeks to make up for slowing demand in the PC industry by expanding its line-up of higher-margin chips utilized in data centres. By combining with Altera, Intel can bundle its processing chips with the smaller company\’s programmable chips, that are used, amongst other things, to ...

Read More »

Newmont Mining Corp. upgraded at RBC


Newmont Mining Corp. was upgraded to outperform from sector perform at RBC Capital Markets due to improvements in the operating momentum and the disappearance of an M&A-related overhang. The Colorado-based miner acquired the Cripple Creek & Victor gold mine from AngloGold Ashanti Ltd. for US$820 million in cash earlier this week. The deal is accretive for Newmont, nevertheless its share ...

Read More »

The next few weeks are big for McDonald’s Corp. turnaround plan


McDonald’s Corp.’s new promotion down south that offers customers a little fries along with a double cheeseburger for US$2.50 bodes well for that company’s prospects come july 1st. The nationally advertised U.S. value tier looks nearly the same as one David Palmer at RBC Capital Markets believes worked well for the fast-food chain in the New York City area, giving ...

Read More »

Insurer Ace Ltd buying Chubb Corp in $28-billion deal that creates one of world’s largest insurers


WARREN, N.J. – Insurer Ace Ltd. is buying The Chubb Corp. for about $28.3 billion in cash and stock inside a deal and build one of the world\’s largest insurers. The deal, among the largest to date this year, will prove to add diversity to Ace\’s global business and give it a powerful brand name within the U.S., where Chubb ...

Read More »

Potash Corp. buying K+S AG far from a sure thing


The market may be factoring in a roughly 60-per-cent chance that Potash Corp. of Saskatchewan successfully acquires K+S AG, but a minumum of one analyst thinks the possibilities much lower. Ben Scarlett at J.P. Morgan downgraded K+S to underweight from overweight as he sees the probability of a deal at nearer to one in three. “An offer is likely to ...

Read More »

Celgene Corp to buy Receptos Inc for US$7.2 billion


Celgene Corp said it decided to buy Receptos Inc for about $7.2 billion to grow its pipeline with Receptos\’ immune-inflammatory bowel drug, Ozanimod. Celgene will pay US$232 in cash for each Receptos share, representing a 12 per cent premium to the company\’s closing price on Tuesday. Ozanimod is in late-stage trials for inflammatory bowel disease and ms. Related What Valeant\’s ...

Read More »

Intel Corp predicts server demand will make up for PC market woes


Intel Corp., the biggest maker of semiconductors, predicted third-quarter sales that could exceed analysts\’ predictions as those who own data centers add ability to feed information demanded by mobile Internet use. Revenue will be US$14.3 billion, plus or minus US$500 million, the company said Wednesday inside a statement. That compares with analysts\’ average projection of US$14 billion, according to data ...

Read More »

IBM Corp drops after revenue declines for 13th straight quarter


IBM fell after reporting second-quarter sales declines across all its major sections, missing analysts\’ estimates and marking the 13th straight duration of falling revenue. Profit excluding some items was $3.84 a share, International Business Machines Corp. said in a statement Monday, beating the $3.78 average projection from analysts as reduced administrative and research costs offset declines in the services and ...

Read More »

Precision Drilling Corp boosts spending despite large quarterly loss


CALGARY C Despite posting a large quarterly loss on sharply reduced interest in its services, Precision Drilling Corp. boosted its capital spending plans Thursday. Precision, one of Canada\’s largest oil and gas drilling companies, announced Thursday it was boosting its capital budget to $546 million for 2015, up from the $506 million the organization had planned to invest. Some of ...

Read More »