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.
February 26, 1997 |
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.
January 20, 1997 |
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.
October 23, 1996 |
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.
September 9, 1998 |
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.
March 9, 1999 |
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.
November 5, 1999 |
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.
June 28, 2016 |
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.
April 18, 2016 |
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.
July 18, 2016 |
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.