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.
August 19, 2015 |
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.
July 18, 2015 |
A Doylestown lawyer was indicted Thursday for allegedly using advance knowledge about his clients' activities to make illegal stock purchases in 2011, netting him about $75,000 in profit, according to the U.S. Attorney's Office. Herbert Sudfeld, 64, listed as a partner at the Bucks County law firm Curtin & Heefner, was charged with one count of insider trading for allegedly buying stock in a company he represented the day before a merger, then selling those shares for an 85 percent return a day later, once the deal was announced, according to the indictment.