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NEWS
January 25, 2013
Q: When a company is acquired by another, does its stock price always go up? - K.G., Dalton, Ga.   A: It depends. If the firm's market value is around $10 billion and it's bought for $15 billion, the stock price may jump on the news. When a company is very desirable, perhaps due to its products or growth prospects, a buyer may have to outbid other interested companies. But if it's struggling, it might get scooped up for a song, when its price is depressed. Meanwhile, if investors think that the acquiring company has struck a good deal, the price of its own stock might also rise.
BUSINESS
February 26, 1997 | By Jane M. Von Bergen, INQUIRER STAFF WRITER
After yet another day of heavy trading, Today's Man stock closed yesterday at $3.34 a share - its highest price in six months. "I've never understood why it's happening, but I'm happy it's happening," said Frank Johnson, treasurer of the men's retailer, headquartered in Moorestown. "I don't know of any reason for it. " For most of the late summer and fall, Today's Man stock rarely poked its head above $2 a share, trading generally around $1.80. On Jan. 17, the stock price cracked the $2 figure and later hovered around $2.50 a share.
BUSINESS
January 20, 1997 | By Rosland Briggs, INQUIRER STAFF WRITER Inquirer staff writer Reid Kanaley contributed to this report
Some area stocks helped boost the market to new heights last year; others missed the rising tide. About 55 out of the 251 publicly traded companies in the area saw their stock prices decline by 20 percent or more last year. Competition and declining sales were two common culprits affecting stock prices among companies at the bottom of the list. Delayed government contracts affected sales at Digital Descriptor Systems Inc., Langhorne. The company, which creates security programs using digitized imaging technology, ranked last on the local list of stock performers, with a 91 percent drop in stock price for the year.
BUSINESS
October 23, 1996 | By Susan Warner, INQUIRER STAFF WRITER
A New York investor has launched a proxy fight at ECC International, of Wayne, demanding that management of the defense contractor and vending-machine maker sell all, or part, of the company. Michael N. Taglich, president of the brokerage Taglich Bros., D'Amadeo, Wagner & Co., is asking ECC to hire an investment banker to evaluate the company, which he said is worth more to its shareholders broken up. "Currently, the stock price is at a year's low, in the greatest bull market in history," he said.
BUSINESS
September 9, 1998 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
A Philadelphia bank that invested in one of its Center City rivals in the spring is now pressuring that bank's management to reform its operations and boost its sagging stock price. USA BancShares, owner of BankPhiladelphia, borrowed $900,000, and spent another $185,000 in corporate funds, to take a 1.8 percent stake in Republic First Bancorp, owner of First Republic Bank, according to documents filed with the Securities and Exchange Commission and made public yesterday. Since USA began investing in Republic on April 28, Republic's stock has fallen from $12.375 per share to a close of $9.75 yesterday.
BUSINESS
March 9, 1999 | By Andrea Ahles, INQUIRER STAFF WRITER
Add ".com" to your company's name and stockholders become instant millionaires, right? Not always. Although Internet companies have been the hot stocks on the market, not all newly-named ".com" companies are trading for more than $100 per share on the Nasdaq exchange. Several small companies, such as Dynamic Media.com, are languishing on the OTC Bulletin Board, hoping a name change will propel their stock price higher. In November, Dynamic Imaging Inc., a Philadelphia company that offers broadcast news specifically for the Internet, changed its name to Dynamic Media.
BUSINESS
November 5, 1999 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
Internet Capital Group is about as big as a fancy Walnut Street restaurant, if you count its 50-member staff or its modest yearly revenue. But on the stock market, Internet Capital - with $4.5 million in revenue - is worth more than Cigna Corp., which has 50,000 employees, and almost as much as Campbell Soup Co., which has $7 billion in annual sales. After jumping $37 per share since Monday, Internet Capital is worth $18.8 billion - more than two-thirds of the big national companies in the Standard & Poor's 500. The stock closed yesterday at $154.
BUSINESS
June 28, 2016 | By Jacob Adelman, Staff Writer
Pennsylvania Real Estate Investment Trust's partner in the rehab of the Gallery at Market East could move to acquire the Philadelphia mall developer, as shares in the company continue to trade at an apparent discount to the value of its assets, according to investment firm Boenning & Scattergood. Some investors think Santa Monica, Calif.-based Macerich may bid for ownership of PREIT to achieve full control of the Center City mall project, to be called Fashion Outlets of Philadelphia when it is complete, analysts at the West Conshohocken financial firm said in a report last week.
BUSINESS
April 18, 2016 | By Jane M. Von Bergen, Staff Writer
What a year it was - and will be for - David L. Richter, 49, chief executive of Hill International Inc., the Philadelphia-based construction project and claims management company. (It had the contract for the first Comcast tower and is now overseeing construction at the new state prison in Graterford.) Hill reported record 2015 revenues of $720.6 million, up 12.3 percent. Profits rose to $6.9 million, up from a $6.1 million loss. Yet they would have been higher had not the depression in oil prices sliced $3.4 million from the net in bad debt expenses from clients in the Middle East, where Hill gets about 45 percent of its revenues.
NEWS
July 18, 2016 | By Lauren Feiner, Staff Writer
David Willis Johnson, 83, of Solebury, who led the Campbell Soup Co. with infectious optimism in the 1990s, died of heart failure in Doylestown on Sunday, June 19. Mr. Johnson, a native of Australia, served as president and chief executive officer of Campbell from 1990 to 1997, and again from March 2000 to January 2001 after coming out of retirement as the company sought a new leader. He was brought in by Campbell's at a time when the Dorrance family, which had dominated the company for decades, had considered selling its shares.
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NEWS
July 18, 2016 | By Lauren Feiner, Staff Writer
David Willis Johnson, 83, of Solebury, who led the Campbell Soup Co. with infectious optimism in the 1990s, died of heart failure in Doylestown on Sunday, June 19. Mr. Johnson, a native of Australia, served as president and chief executive officer of Campbell from 1990 to 1997, and again from March 2000 to January 2001 after coming out of retirement as the company sought a new leader. He was brought in by Campbell's at a time when the Dorrance family, which had dominated the company for decades, had considered selling its shares.
BUSINESS
June 28, 2016 | By Jacob Adelman, Staff Writer
Pennsylvania Real Estate Investment Trust's partner in the rehab of the Gallery at Market East could move to acquire the Philadelphia mall developer, as shares in the company continue to trade at an apparent discount to the value of its assets, according to investment firm Boenning & Scattergood. Some investors think Santa Monica, Calif.-based Macerich may bid for ownership of PREIT to achieve full control of the Center City mall project, to be called Fashion Outlets of Philadelphia when it is complete, analysts at the West Conshohocken financial firm said in a report last week.
BUSINESS
April 18, 2016 | By Jane M. Von Bergen, Staff Writer
What a year it was - and will be for - David L. Richter, 49, chief executive of Hill International Inc., the Philadelphia-based construction project and claims management company. (It had the contract for the first Comcast tower and is now overseeing construction at the new state prison in Graterford.) Hill reported record 2015 revenues of $720.6 million, up 12.3 percent. Profits rose to $6.9 million, up from a $6.1 million loss. Yet they would have been higher had not the depression in oil prices sliced $3.4 million from the net in bad debt expenses from clients in the Middle East, where Hill gets about 45 percent of its revenues.
BUSINESS
December 3, 2015 | By David Sell, Inquirer Staff Writer
Two U.S. senators - one Republican, one Democrat - said in a report Tuesday that Gilead Sciences had priced its groundbreaking hepatitis C medicines to maximize profit and "broad, affordable access was not a key consideration" in setting prices. Sen. Ron Wyden (D., Ore.) said that the cost to taxpayers for high-priced drugs was "unsustainable," and that Gilead's "calculated scheme" for pricing had no relation to research costs and was based only on what the market would bear "regardless of the human consequences.
FOOD
November 20, 2015 | Craig LaBan, Inquirer Food Critic
Here is an excerpt from Craig LaBan's online chat: Craig LaBan: We have a special guest from America's newest future pizza chain: Jeff Benjamin of the Vetri restaurant group (soon to be an Urban Outfitters subsidiary). Why did this happen, Jeff? It's one thing to partner with a big player to franchise the pizzerias, another thing to sell the whole company. Jeff Benjamin: There are many reasons. First and foremost, we have the desire to grow. It's not a secret that the pizzeria is certainly a growth vehicle, but we believe that a few of our other restaurants may be able to be expanded, as well.
BUSINESS
November 12, 2015 | By David Sell, Inquirer Staff Writer
Valeant Pharmaceuticals CEO J. Michael Pearson, trying to stop the slide in his company's stock price, said Tuesday that he was assured by management of Hatboro-based Philidor RX Services L.L.C. that it did nothing wrong, and then he defended the decision to dump Philidor, Valeant's only specialty pharmacy. With the Valeant relationship ending, Philidor will cease operations by Jan. 30, putting several hundred employees out of work. Valeant, meanwhile, is cutting prices to avoid losing customers because of any supply disruption.
BUSINESS
November 2, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Founded in 1882 by Philadelphia coal barons, Penn Virginia Corp. is one of the region's oldest surviving businesses. That distinction is in serious jeopardy with each passing day of depressed energy prices. The company, based in Radnor, traces its roots to the pioneers of Lehigh Valley anthracite coal mining. In its 21st-century incarnation, it has embraced shale, the new fossil-fuel revolution, and transformed itself into a shale-oil producer. Yet while the collapse of crude-oil prices last year has been a boon for energy consumers, the prolonged slump has hammered small exploration and production companies such as Penn Virginia that borrowed heavily to lease reserves that are unprofitable when oil sells for less than $50 a barrel.
BUSINESS
September 17, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The New York Stock Exchange is threatening to delist the shares of embattled Radnor oil producer Penn Virginia Corp. for failing to maintain an average closing stock price of at least $1 for the last 30 consecutive trading days. Under NYSE rules, Penn Virginia will regain compliance if, on the last trading day of any calendar month in the next six months, its closing share price and its consecutive 30 trading-day average closing share price are at least $1 per share. Penn Virginia's shares have sunk in the last year along with the oil price; its 52-week price has ranged from $13.99 to 71 cents.
NEWS
September 16, 2015 | By Jeremy Roebuck, Inquirer Staff Writer
A Ukrainian firm and its chief executive have agreed to pay the U.S. Securities and Exchange Commission $30 million to settle claims they were part of an international ring of hackers and insider traders who made nearly $100 million by gaining early access to corporate press releases before they were publicly disclosed. The SEC outlined its agreement with Jaspen Capital Partners and CEO Andriy Supranonok in federal court filings in New Jersey on Monday. In agreeing to pay restitution, neither party acknowledged any wrongdoing but agreed to avoid future violations of U.S. securities laws.
BUSINESS
August 19, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
Even as Michael George, CEO of West Chester-based TV and online shopping giant QVC Inc., prepares to start a new channel in France this month, he is planning to spend time in Seattle, home to Zulily Inc., which QVC owner Liberty Interactive Corp. said Monday it had agreed to buy for $2.4 billion in cash and stock. Zulily supplies boutique sippy cups, small lots of maternity pants, and thousands more products to smartphone-using mothers in their 20s and 30s. QVC wants to add Zulily's "millennium moms" to its own base of "35- to 65-year-old women, which Zulily perfectly complements," George said in a Monday afternoon interview, after fielding questions from Zulily software developers and managers.
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