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NEWS
July 27, 2010
Resource America Inc., a specialty asset manager in Philadelphia, said it formed a committee of independent directors to explore ways to boost its stock price, which has been stuck under $10 per share since the fall of 2008 after reaching $27.95 in February 2007. Possibilities for the company include going private and selling business units or the entire company, the company said. Resource America's advisers are the law firm Stevens & Lee and FBR Capital Markets. At mid-morning, the shares were trading for $4.56, up 11 cents, on Nasdaq.
BUSINESS
August 6, 1999 | By Miriam Hill, INQUIRER STAFF WRITER
Walter Buckley 3d and Ken Fox came to conquer Wall Street yesterday, but at midmorning it looked as if Wall Street might conquer them. They were taking their company, Internet Capital Group, public in an initial public offering that would make the Wayne company worth $2.9 billion by the end of the day. But the stock market had grown ugly earlier in the week, especially for public offerings, and was looking worse every minute. At 11:20 a.m., the fates started smiling and the market started to bounce back.
BUSINESS
March 9, 2001 | By Harold Brubaker INQUIRER STAFF WRITER
Investors' limited appetite for stocks in a turbulent market thwarted a Collegeville company's plan to go public yesterday. UTI Corp., a manufacturer of tubular and machined parts used in medical devices, had planned to sell 6.25 million shares, or about 32 percent of the company's outstanding shares, for $15 to $17 each. The company had said yesterday that it hoped to negotiate a price per share last night and begin trading today. As of last evening, it had not, however. UTI's IPO delay because of market conditions was a minor problem compared with those of other companies.
BUSINESS
August 26, 2013 | By Jane M. Von Bergen, Inquirer Staff Writer
At Five Below's busy store in the Gallery in Center City, a grad student stocked up on items for her apartment in Camden - a $2 spatula and a $5 daisy-shaped scarf holder topped her pile of purchases. It's back-to-school season, and the discount teen-oriented store was loaded with $5 backpacks in purple, pink, and glitter, Hello Kitty pencil cases and notebooks in every hue. A year ago, on July 19, 2012, the Philadelphia-based company, founded by the creator of Encore Books and Zany Brainy, held a different kind of sale - an initial public offering, selling 11.06 million shares at $17 apiece.
NEWS
May 13, 2011
AmerisourceBergen Corp. said today that it is raising its quarterly dividend by 1.5 cents to 11.5 cents a share. The new dividend is payable June 6 to shareholders on May 24. The increase is the Valley Forge company's second in less than a year. It raised the payout by 2 cents a share last September. Since then, its share price is up more than 54 percent to $42.16 in today's late-morning trading. AmerisourceBergen is a pharmaceuticals distributor.    -Paul Schweizer
NEWS
August 10, 2012
Lincoln Financial Group, the Philadelphia-based insurer, increased its stock repurchase program by $760 million, to reach a $1 billion total. The new total represents about 15 percent of Lincoln's market capitalization, which stood at about $6.5 billion Thursday. With the program, the company directors can decide to buy back stock from shareholders. If used to the fullest, the program could drive up share price and earnings per share by a similar amount. The stock price went up 3.2 percent after the news was released.
BUSINESS
January 19, 2006 | By Jeff Gelles INQUIRER STAFF WRITER
For years, Monroe Milstein was known as a relatively humble chief executive officer, befitting his roots as the founder of a "mom-and-pop" discount coat store that grew into the Burlington Coat Factory Warehouse chain. With 367 stores and sales topping $3 billion a year, Burlington Coat became a leader in its niche: selling brand-name apparel at markdown prices. But in an era of multimillion-dollar executive pay, Milstein's annual salary stayed put at $322,400 for 20 years. Yesterday was a payday worthy of any entrepreneur's dreams: Burlington Coat, publicly traded since 1983, said it had agreed to be purchased for $2.06 billion by private investors.
NEWS
January 29, 2013
BIG BLUE-CHIP companies, such as General Electric and Corning, are exciting not just because of their businesses, but also because of their dividends. If you buy into a healthy company when its dividend yield (annual dividend divided by share price) is 3 percent, you are likely to get that payout every year, regardless of what happens to the stock price. (And today, such a yield easily tops many alternatives, such as bank accounts or CDs.) Imagine that you bought 10 shares of Wanton Punctuation (ticker: ?
BUSINESS
March 9, 2014 | By Andrew Maykuth, Inquirer Staff Writer
The share price of UIL Holdings Corp. appeared to have found a basement Friday after declining 11.7 percent since an initial report that the Connecticut company had agreed to buy Philadelphia Gas Works. UIL's shares on the New York Stock Exchange closed up 22 cents at $34.84 on Friday, the first positive showing since the company's interest in PGW was disclosed Feb. 28, when its stock price stood at $39.45. It has lost $260 million in market value since then. UIL on Monday announced it agreed to buy the city's gas utility for $1.86 billion.
BUSINESS
December 16, 2015 | By Harold Brubaker, STAFF WRITER
Destination Maternity Corp., an apparel company that recently moved its headquarters from Philadelphia to Moorestown, has rejected a French suitor, according to a Securities and Exchange Commission filing Monday. Shares of Destination Maternity, which makes maternity wear, shot up 17 percent at the start of trading Monday on the Nasdaq Stock Exchange, but soon settled down to about the same level as their Friday close of $9. Orchestra Premaman S.A., which makes clothing for children and babies, said in the filing that it paid $16.6 million for a 13.3 percent stake in Destination, and reiterated its desire to engage in merger talks with Destination.
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BUSINESS
January 4, 2016
At its plants and offices and labs along I-95 in Delaware, 1,700 of our 6,100 neighbors who work at DuPont Co. will learn shortly - many by Monday - that their jobs have been eliminated. They're being dismissed to "reduce our corporate overhead" and "restructure our cost base," chief executive Edward Breen warned in a memo a few days ago. Breen has done the big corporate cut, shine, and sale before, boosting profits and enriching shareholders of the former General Instruments Corp.
BUSINESS
December 25, 2015 | By Joseph N. Distefano, Staff Writer
Billionaire investor Carl Icahn has set a Christmas Eve deadline on the bidding war for Philadelphia's marginally profitable Pep Boys - Manny, Moe & Jack auto-parts chain. Icahn on Wednesday promised to pay $16.50 a share - or "10 cents more per share" than the rival Bridgestone tire group's best offer - and to increase it to as much as $18.10 a share or more than $1 billion. The catch is that Pep Boys has to agree to his deal by 8 p.m. Thursday. After that, Icahn's proposal would expire.
BUSINESS
December 16, 2015 | By Harold Brubaker, STAFF WRITER
Destination Maternity Corp., an apparel company that recently moved its headquarters from Philadelphia to Moorestown, has rejected a French suitor, according to a Securities and Exchange Commission filing Monday. Shares of Destination Maternity, which makes maternity wear, shot up 17 percent at the start of trading Monday on the Nasdaq Stock Exchange, but soon settled down to about the same level as their Friday close of $9. Orchestra Premaman S.A., which makes clothing for children and babies, said in the filing that it paid $16.6 million for a 13.3 percent stake in Destination, and reiterated its desire to engage in merger talks with Destination.
BUSINESS
July 5, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Money-losing Sun Bancorp Inc. of Mount Laurel, under pressure to please investors and government regulators and boost its sagging share price, plans to sell or shut a string of its Sun National Bank branches and lay off more than 200 of the company's 600-plus workers, new chief executive officer Thomas O'Brien said in a statement Thursday. "The layoffs are part of an overall restructuring plan to bring the bank's revenue and expense model, and overall efficiency ratio, in line with our peers," said spokesman Mike Dineen.
BUSINESS
March 9, 2014 | By Andrew Maykuth, Inquirer Staff Writer
The share price of UIL Holdings Corp. appeared to have found a basement Friday after declining 11.7 percent since an initial report that the Connecticut company had agreed to buy Philadelphia Gas Works. UIL's shares on the New York Stock Exchange closed up 22 cents at $34.84 on Friday, the first positive showing since the company's interest in PGW was disclosed Feb. 28, when its stock price stood at $39.45. It has lost $260 million in market value since then. UIL on Monday announced it agreed to buy the city's gas utility for $1.86 billion.
BUSINESS
January 18, 2014 | By Bob Fernandez, Inquirer Staff Writer
Comcast Corp. is weighing its options for Time Warner Cable Inc., the nation's second-largest publicly traded cable-TV company, amid Charter Communications Inc.'s continued attempts to make the acquisition. Charter's latest offer, formally presented in a letter Monday and then quickly panned by New York's Time Warner Cable as "grossly inadequate," was for $132.50 a share - $82.54 a share in cash and $49.96 a share in Charter stock. Charter, based in Stamford, Conn., approached Comcast after the rejection to participate in a revised deal, according to media reports and industry sources.
BUSINESS
January 13, 2014 | By Reid Kanaley, Inquirer Staff Writer
Dramatic market moves and a wave of initial stock offerings bring three new company names to the Philly50 for 2014, while three others have been edged off the list. Rising stock prices put all 50 companies on the list above $1 billion in market capitalization - at least for now. The newcomers are: Aramark Holdings Corp. , which introduced its ticker symbol, ARMK, to the New York Stock Exchange in December, when the company went public for the third time since its founding in Philadelphia in 1959.
BUSINESS
November 16, 2013 | By Joseph N. DiStefano, Inquirer Staff Writer
More signs that the stock market isn't quite science: J.G. Wentworth & Co. , the Radnor firm that buys accident victims' long-term insurance settlements for up-front cash (ad slogan: "It's my money and I want it now!"), had planned to raise $200 million by selling shares to investors at $22 in its New York Stock Exchange initial public offering last week. But the stock peddlers, led by Barclays Capital and Credit Suisse Securities , couldn't find buyers at that price. So they cut it, and cut it again.
BUSINESS
August 26, 2013 | By Jane M. Von Bergen, Inquirer Staff Writer
At Five Below's busy store in the Gallery in Center City, a grad student stocked up on items for her apartment in Camden - a $2 spatula and a $5 daisy-shaped scarf holder topped her pile of purchases. It's back-to-school season, and the discount teen-oriented store was loaded with $5 backpacks in purple, pink, and glitter, Hello Kitty pencil cases and notebooks in every hue. A year ago, on July 19, 2012, the Philadelphia-based company, founded by the creator of Encore Books and Zany Brainy, held a different kind of sale - an initial public offering, selling 11.06 million shares at $17 apiece.
BUSINESS
February 16, 2013 | By Teresa F. Lindeman, Pittsburgh Post-Gazette
PITTSBURGH - Before the stock markets opened Thursday, Pittsburgh's world-famous ketchup maker, H.J. Heinz Co., announced that it had agreed to be acquired for $28 billion in cash and debt by an investment partnership between Warren Buffett's Berkshire Hathaway and 3G Capital, owner of such well-known brands as Burger King and Budweiser. Heinz had been the subject of takeover rumors for years, as many thought it was a small enough and tempting enough player in the food business to be swallowed by another company.
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