$BGC (General Cable Corporation)

$BGC {{ '2016-03-22T04:51:52+0000' | timeago}} • Announcement

Wire and cable products maker $BGC said CFO Brian Robinson will leave the company pending the identification of a successor and a suitable transition period. $BGC has retained $HSII to assist in the search for a replacement CFO to work closely with CEO Michael McDonnell in implementing company's strategic roadmap.

$POL {{ '2017-07-20T11:50:05+0000' | timeago}} • Announcement

Private equity firm Arsenal Capital Partners announced the acquisition of $POL's Designed Structures and Solutions segment which will be renamed Spartech LLC. Joining the company as CEO and President is Arsenal's Senior Advisor George Abd who will be joined in the leadership team by CFO Bob Robison.

$POL {{ '2017-07-19T21:32:14+0000' | timeago}} • Announcement

$POL completed the sale of its Designed Structures and Solutions business, which includes sheet, rollstock and packaging assets to Arsenal Capital Partners for $115MM. Serving as financial advisor to $POL on the transaction was William Blair.

$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.

$ADTN {{ '2017-07-18T12:00:59+0000' | timeago}} • Announcement

Networking solutions provider $ADTN has commenced lab testing of innovations in the ‘G.fast standard 212MHz and coordinated dynamic time allocation,’ in association with communications firm Deutsche Telekom. The evaluation of ultra-broadband technologies will allow rapid deployment of ultra-fast broadband services with minimal disruption.

$ADTN {{ '2017-07-18T11:56:10+0000' | timeago}} • Announcement

Networking solutions provider $ADTN has signed a supply agreement with nbn to advance high-speed broadband access in Australia. The agreement, which covers software, hardware and services, includes commitments from both companies to support the ongoing nationwide network rollout.

$AES {{ '2017-07-17T21:30:02+0000' | timeago}} • Announcement

$AES declared a quarterly common stock dividend of $0.12 per share payable on August 17, 2017, to shareholders of record on August 3, 2017.

$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.

$TWX {{ '2017-07-17T11:48:48+0000' | timeago}} • Announcement

$TWX's shareholders approved merger with $T. The company continues to expect the transaction to close before year-end 2017, with regulatory review of the deal underway.

$POL {{ '2017-07-13T21:13:12+0000' | timeago}} • Announcement

$POL, a provider of specialized polymer materials, has declared a quarterly cash dividend 13.5 cents per share on its common stock. The dividend is payable on October 5, 2017, to stockholders of record on September 15, 2017.

$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.

$T {{ '2017-07-07T18:34:11+0000' | timeago}} • Announcement

$T has completed acquisition of the Vyatta network operating system and the associated assets of communications firm $BRCD. As per the deal, AT&T will hire a significant number of Brocade employees. The transaction is part of AT&T’s plan to virtualize the majority of its networks by 2020.

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