Author: admin

Talen Energy Corp.’s stock shot up 18% in premarket trade Friday, after the power generation company agreed to be acquired by private investment company Riverstone Holdings LLC, in a deal that would value Talen at about $1.8 billion. The deal includes Talen’s $3.3 billion in unsecured debt. As part of the deal, Riverstone, which already owns 35% of Talen’s stock, would pay $14 for each Talen share it didn’t already own. That represents a 17% premium to Thursday’s closing price of $11.94. Based on 128.53 shares outstanding, according to FactSet, the per-share bid would give Talen a market value of $1.799 billion. Talen will have a “go shop” period of 40 days, in which Talen may actively solicit alternative bids. If Talen accepts a superior bid, Talen would pay Riverstone $25 million. Talen’s stock has soared 92% year to date through Thursday, while the S&P 500 has gained 3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Glencore PLC is holding discussions with Tehran about setting up a copper industry in Iran, British newspaper The Times reported Friday. The talks follow the lifting of economic sanctions on Iran, which wants its copper production to be 10 times its current size by 2025, the report said. While the Iranian government has signed a deal with commodities giant Glencore, Tehran has also held talks with mining rival Rio Tinto PLC , Mehdi Karbasian, president of the state-owned mining company, told the Times. Glencore shares rose 2.3% in early trade Friday, while Rio Tinto shares were up 0.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

A missing 7-year-old Japanese boy who was abandoned on a mountainside by his parents has been found alive and well, according to media reports. Yamato Tanooka was found in a military barracks hut a few miles from the spot in Hokkaido where his parents had left him on Saturday to discipline him for throwing stones at cars and people. The boy had taken shelter in the hut, where he kept warm using futon mattresses and drank water from a tap outside, reports said. A massive hunt involving hundreds of police and troops has been underway in the thick forest since Yamato disappeared, and the parents, who initially kept quiet about abandoning the boy, have come in for high criticism.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Apple Inc. on Thursday experienced service outages for some users and has slowly been restoring service. At around 3:45 pm Eastern, services like Apple’s App Store, Apple TV, Find My iPhone, and several iCloud based services were unavailable for some users. As of 6:30 pm Eastern, only a few iCloud based services were still down for some users, according to Apple’s website. Apple shares were up less than 0.1% at $97.77 after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Shiseido Americas Corp., a subsidiary of Shiseido Co. Ltd., said Thursday it has entered into an agreement with Alitcor Inc. to acquire its wholly-owned subsidiary, Gurwitch Products. The Gurwitch portfolio includes luxury skincare brand ReVive and luxury cosmetics and skincare brand Laura Mercier. Shiseido’s stable of brands include NARS, BareMinerals, and Clé de Peau Beauté. The transaction is expected to close in the third quart of 2016. Terms of the deal were not disclosed.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Security and networking company Blue Coat Inc. will go public via an initial public offering a year after it was sold to Bain Capital Investors for $2.4 billion, according to a regulatory filing on Thursday. However, Bain will continue to hold a majority voting stake even after the deal, the company said. Blue Coat reported sales of $598.3 million and a net loss of $289.1 million in the fiscal year ended April 30. The shares will be listed on the New York Stock Exchange and trade under the symbol BLCT.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News