Callaway Golf Company Completes TravisMatthew Acquisition

Callaway Golf Company Completes TravisMatthew Acquisition

Callaway Golf Company said Monday it has completed its all-cash acquisition of golf apparel company TravisMatthew for $125.5 million. TravisMatthew’s net sales for full year 2017 are estimated to be $55 million to $60 million and are expected to contribute approximately $15 million to Callaways second half results. Including approximately $5 million of non-recurring transaction expenses and incremental non-cash expense resulting from the acquisition purchase accounting adjustments, TravisMathew is expected […]

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Arca biopharma Completes Enrollment of Phase 2B Clinical Trial

Arca biopharma Completes Enrollment of Phase 2B Clinical Trial

Arca biopharma has completed enrollment for Genetic-AF, a phase 2B clinical trial evaluating Gencaro (bucindolol hydrochloride) as a potential genetically-targeted treatment for atrial fibrillation (AF). “We believe reaching our target enrollment in [Genetic-AF] represents a key clinical milestone for [Arca] and we look forward to reporting top-line data for the trial,” said Arca CEO Michael Bristow, “which we estimate should include approximately 50% more events than were available at the […]

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Asian ADRs Trade Lower

Asian ADRs Trade Lower

American depository receipts of Asian stocks were trading 0.49% lower at 163.98 on the Bank of New York Mellon Asia ADR Index on Friday. In North Asia, the gainers were led by China Mobile (CHL), and semiconductor foundry United Microelectronics (UMC), which rose 1.5% and 1.3% respectively. They were followed by GDS Holdings (GDS), a developer and operator of data centers in China, and telecommunications firm China Telecom (CHA), each […]

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Transdigm Group Shares Jump to Record High

Transdigm Group Shares Jump to Record High

Transdigm Group shares rose to a new record high Tuesday morning after the producer of engineered aircraft components reported results for fiscal Q3 that topped analysts’ estimates. TDG was up 3% at $292.79 recently, trading in a new 52-week range between $203.72 to $295.00. Adjusted net income in the quarter ended July 1 was $3.30 per share, up from $3.09 per share in the prior year period and came in […]

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American Electric Reaches Repricing Deal

American Electric Reaches Repricing Deal

American Electric Technologies said Thursday it has reached a repricing agreement with the holder of its series A convertible preferred stock and related common stock purchase warrants to adjust the initial conversion price of the convertible preferred stock and the initial exercise price of the related common stock purchase warrants originally issued in 2012. Based on the agreement each share of preferred stock will be initially convertible, at the option […]

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VWR Q2 Results Beat Expectations

VWR Q2 Results Beat Expectations

VWR said Monday its Q2 adjusted earnings amounted to $0.49 per share, up from $0.42 per share a year ago. A consensus of eight analysts polled by Capital IQ had expected adjusted earnings of $0.45 per share. The company reported Q2 net sales of $1.18 billion compared with $1.15 billion a year ago. Three analysts expected sales of $1.16 billion. In May, VWR announced that it entered into a definitive […]

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DTE Energy Q2 Results Top Expectations

DTE Energy Q2 Results Top Expectations

DTE Energy Company said Wednesday its Q2 diluted operating earnings were $1.07 per share, up from $0.98 per share a year ago. Analysts polled by Capital IQ had expected operating EPS of $1.00. The company also reported total operating revenue of $2.86 billion, up from $2.26 billion a year ago. Analysts had expected operating revenue of $2.36 billion. In addition, DTE Energy increased its 2017 operating earnings per share guidance […]

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Hasbro Fiscal Q2 Earnings Beat Expectations

Hasbro Fiscal Q2 Earnings Beat Expectations

Hasbro reported fiscal Q2 diluted earnings of $0.53, up from last year’s $0.41, exceeding the Capital IQ consensus of $0.45. Net revenues in the quarter ended July 2 grew to $972.5 million from $878.9 million but still missed the average analyst forecast of $974.2 million compiled by Capital IQ. Looking ahead, CFO Deborah Thomas said: “Our balance sheet and cash flows remain strong. While we are seeing some softness in […]

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