$BGC (General Cable Corporation)

$BGC {{ '2016-08-18T15:45:13+0000' | timeago}} • Announcement

$BGC said it appointed Juan Mogollon as SVP of Latin America, effective Aug. 29. Gregory Lampert, EVP, President & CEO of the Americas, will leave the company to pursue other opportunities, pending suitable transition period. In interim, $BGC's CEO Michael McDonnell will assume direct responsibility for North America business effective immediately.

$STLD {{ '2017-07-19T22:47:22+0000' | timeago}} • Announcement

$STLD remains optimistic that macroeconomic and market conditions are in place to benefit domestic steel consumption in the coming years. The company also believes that North American automotive steel consumption will be steady and that there will be additional growth in the energy and construction sectors.

$STLD {{ '2017-07-19T22:40:19+0000' | timeago}} • Announcement

Steel producer and metal recycler $STLD reported higher 2Q17 earnings, driven by steady steel demand from the automotive sector and surge in revenue. Net income increased 7.73% to $152.94MM or $0.63 per share from $141.96MM or $0.58 per share a year ago. Revenue for the quarter jumped 18.12% to $2.39Bil.

$NEM {{ '2017-07-19T20:55:03+0000' | timeago}} • Announcement

$NEM elected Sheri Hickok and Molly Zhang to its BoD. Hickok is currently General Manager, Global Product Development, Onshore Wind at $GE's Renewable Energy. Zhang currently serves as a director of Cooper Standard Automotive and XG Science as a supervisory board member at GEA Group in Germany.

$MSFT {{ '2017-07-18T12:18:43+0000' | timeago}} • Announcement

Kate Johnson to join $MSFT as President and Corporate VP of Microsoft US on Sept 8, 2017. Johnson currently serves as Chief Commercial Officer of GE Digital, a unit of $GE.

$BGC {{ '2017-07-17T12:56:07+0000' | timeago}} • Announcement

$BGC sees 2Q17 revenue of about $923MM for North America, Europe and Latin America. $BGC sees operating loss of about $23MM, which includes non-cash charge from sale of investment in Algeria, and adjusted operating income of $32MM. Also, as of June 30, $BGC maintained availability of about $360MM under $700MM asset-based revolving credit facility.

$BGC {{ '2017-07-17T12:53:04+0000' | timeago}} • Announcement

$BGC's BoD started a review of strategic alternatives to maximize shareholder value, including a potential sale of the company. The company has engaged J.P. Morgan Securities LLC as financial advisor and Sullivan & Cromwell LLP as legal advisor to assist in the process.

$MSM {{ '2017-07-13T12:03:45+0000' | timeago}} • Webcast

$MSM expects 4Q17 gross margins to be 43.8%, plus or minus 20 basis points and sees a typical sequential decline in margins for 4Q17. The company expects midpoint operating expenses to be about $230MM and effective tax rate of 37.3%. Operating margin is now expected to be around 12.6% at the midpoint of forecast.

$MSM {{ '2017-07-13T11:58:52+0000' | timeago}} • Webcast

$MSM's capital expenditures were $12.4MM in 3Q17 and now expects its FY17 capital expenditures to be around $55-60MM. $MSM's operating cash flow conversion ratio and that’s net cash from operating activities divided by net income was around 99% in 3Q17 and it expects to end the fiscal year at roughly the same level.

$MSM {{ '2017-07-13T11:56:07+0000' | timeago}} • Webcast

$MSM added about 5,000 net SKUs in 3Q17 and total active salable SKU count is over 1.5MM. $MSM ended the quarter at 2,309 field sales and service associates. The company expects a slight decline over the following few months. And $MSM expects this trend to continue as its sales effectiveness programs gain traction.

$MSM {{ '2017-07-13T11:54:32+0000' | timeago}} • Webcast

$MSM said the improvement in growth rates during 3Q17 was pretty much across the board, with particularly strong growth in national accounts which increased in the mid single-digit range with building momentum through the quarter. Government growth was in the low single-digit range.

$MSM {{ '2017-07-12T11:07:12+0000' | timeago}} • Announcement

$MSM expects net sales for 4Q17 of $732-746MM, based on current market conditions. At the midpoint, average daily sales are expected to increase roughly 7% compared to last year. The company expects EPS of $0.97-1.01 for 4Q17.

$MSM {{ '2017-07-12T11:05:25+0000' | timeago}} • Announcement

$MSM's average daily sales for 3Q17 increased by 3.8%. Most of this came from customer types and products with lower gross margins and, hence, its gross profit was slightly below expectations. However, offsetting this was continued focus on expense control, resulting in operating margins 20 basis points ahead of the midpoint of guidance.

$MSM {{ '2017-07-12T11:03:36+0000' | timeago}} • Announcement

$MSM reported a decline in 3Q17 earnings due to higher costs and expenses. Net income fell to $62.84MM from $64.82MM last year, while EPS rose to $1.09 from $1.05 on lower weighted average shares. Net sales grew to $743.92MM from $727.5MM, on improving sales growth across all of customer types.

$GE {{ '2017-07-11T10:55:50+0000' | timeago}} • Announcement

$GE said its subsidiary GE Healthcare is expanding its U.S. healthcare consulting business with the acquisition of Novia Strategies, a healthcare consulting firm, for undisclosed terms. Novia Strategies will become part of GE Healthcare Camden Group. Novia Solutions was not included as a part of this transaction.

$BDC {{ '2017-07-06T13:34:04+0000' | timeago}} • Announcement

$BDC announced the final results of its offer to purchase its outstanding 5.5% senior subordinated notes due 2022, which commenced on June 27, 2017. The tender offer expired on July 5, 2017. $BDC received tenders from holders of $581.1MM aggregate principal amount, representing approx 83.02% of the aggregate principal outstanding of the 2022 notes.

$STLD {{ '2017-07-05T16:39:54+0000' | timeago}} • Announcement

$STLD announced the expansion of its Structural and Rail Division located in Columbia City, Indiana.  The $75MM expansion will utilize excess melting and casting capability and further diversify its product portfolio and market sector exposure. The project is scheduled to be completed during 4Q18.

$ATI {{ '2017-07-05T15:28:15+0000' | timeago}} • Announcement

Specialty materials manufacturer $ATI has entered into joint venture with $GE company GE Aviation for developing technology to produce a meltless titanium alloy powder. As per the deal, the companies will set up a new R&D pilot production facility. The alloy will be used in additive manufacturing applications, including 3D printing.

$GE {{ '2017-07-03T17:17:55+0000' | timeago}} • Announcement

$GE closed the combination of GE's oil and gas business with Baker Hughes, a GE company. Under the deal, Baker Hughes was converted to a partnership and GE contributed its Oil & Gas business into that partnership. Meanwhile, $7.4Bil was contributed by GE to the partnership, which will be used to fund the cash dividend to Baker Hughes shareholders.

$BHI {{ '2017-07-03T16:00:37+0000' | timeago}} • Announcement

Oilfield solutions provider $BHI said it has completed the transaction combining the company with the oil and gas business of $GE. Baker Hughes shares will begin trading on the New York Stock Exchange under the symbol BHGE on July 5, 2017. Meanwhile, the existing symbol, BHI, will be delisted from the stock exchange on July 3, 2017.

$BHI {{ '2017-06-30T16:30:18+0000' | timeago}} • Announcement

$BHI's stockowners were voted to approve the previously announced combination of $BHI with $GE's oil and gas business. The combination will create Baker Hughes, a $GE company, which will be traded on the NYSE under "BHGE" ticker. $BHI and $GE expects to close the transaction to combine $BHI and GE Oil & Gas on July 3, 2017.

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