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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.
NEWS
July 18, 2015 | By Chris Palmer, Inquirer Staff Writer
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.
NEWS
October 3, 2014 | By Jeremy Roebuck, Inquirer Staff Writer
A former eBay executive was sentenced Wednesday to 15 months in federal prison for insider trading tied to the Internet auction site's 2011 acquisition of a King of Prussia-based e-commerce firm. Christopher Saridakis, 45, of Wilmington, pleaded guilty in May, admitting he tipped off friends and relatives to a pending $2.4 billion deal between San Jose, Calif.-based eBay and GSI Commerce, where he worked as a marketing director. Saridakis was named a senior vice president at eBay after GSI's purchase.
BUSINESS
June 27, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Penn Virginia Corp., the embattled Radnor oil- and gas-exploration company whose stock price soared by nearly 23 percent Thursday amid takeover rumors, issued a press release Thursday announcing that "it did not issue a press release earlier today. " Some British media reported Thursday that Penn Virginia, whose earnings have been battered by low prices and which is under pressure from activist investor George Soros, had turned down an $8-a-share takeover offer from oil giant BP. Penn Virginia's stock price, which opened Thursday at $4.46 on the New York Stock Exchange, jumped as high as $5.58 before settling down to under $5 following its press release announcing that it had no comment on market rumors.
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NEWS
July 18, 2015 | By Chris Palmer, Inquirer Staff Writer
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.
BUSINESS
June 27, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Penn Virginia Corp., the embattled Radnor oil- and gas-exploration company whose stock price soared by nearly 23 percent Thursday amid takeover rumors, issued a press release Thursday announcing that "it did not issue a press release earlier today. " Some British media reported Thursday that Penn Virginia, whose earnings have been battered by low prices and which is under pressure from activist investor George Soros, had turned down an $8-a-share takeover offer from oil giant BP. Penn Virginia's stock price, which opened Thursday at $4.46 on the New York Stock Exchange, jumped as high as $5.58 before settling down to under $5 following its press release announcing that it had no comment on market rumors.
NEWS
October 3, 2014 | By Jeremy Roebuck, Inquirer Staff Writer
A former eBay executive was sentenced Wednesday to 15 months in federal prison for insider trading tied to the Internet auction site's 2011 acquisition of a King of Prussia-based e-commerce firm. Christopher Saridakis, 45, of Wilmington, pleaded guilty in May, admitting he tipped off friends and relatives to a pending $2.4 billion deal between San Jose, Calif.-based eBay and GSI Commerce, where he worked as a marketing director. Saridakis was named a senior vice president at eBay after GSI's purchase.
BUSINESS
June 2, 2014 | By Chris Hepp, Inquirer Staff Writer
DFC Global Corp. had been a stalwart member of the Philly50 until September, when its stock slumped 38 percent, dragging down the value of the publicly traded company. That value loss looms large this week, as stockholders in the Berwyn-based payday and pawnshop lender consider a proposed sale to Lone Star Funds, a Dallas-based private-equity firm. The company's management contends that DFC Global's declining fortunes argue for the sale, which would see stockholders receiving $9.50 per share, or a total of about $367 million.
BUSINESS
May 29, 2014 | By Chris Hepp, Inquirer Staff Writer
Stung by a negative reaction from Institutional Shareholder Services, DFC Global Corp., a payday and pawnshop lender based in Berwyn, defended its proposed sale to a Dallas private-equity firm Tuesday. DFC, in a release, contended the $9.50-per-share offer from Lone Star represented a fair price given that DFC Global has cut its predicted cash earnings this year from as much as $240 million in August to $156 million now. "The true premium of the offer is dramatically understated because it was announced concurrent with the company's third downward revision in the last 12 months," DFC said.
NEWS
May 11, 2014 | By Jeremy Roebuck, Inquirer Staff Writer
A former eBay executive faces up to 20 years in prison and $5 million in fines after pleading guilty Friday to insider-trading violations tied to the auction website's 2011 acquisition of a King of Prussia-based e-commerce firm. Christopher Saridakis, 45, of Greenville, Del., then head of marketing solutions at GSI Commerce, tipped off two friends and two relatives to the pending $2.4 billion deal and urged them to buy stock in advance of the sale. When the acquisition was announced in June 2011, GSI's stock price jumped more than 50 percent, leading to more than $300,000 in illegal profits for the traders.
BUSINESS
March 27, 2014 | By Erin E. Arvedlund, Inquirer Columnist
The stock market has been hitting record highs - again - but which sectors are overpriced and which still represent opportunity? We checked in with Chris Millard, investment specialist at J.P. Morgan Private Bank in Philadelphia. Overall, he is advising clients that "equities are not cheap anymore, they're probably at fair value. But some sectors are more overvalued and some are still undervalued. " Among those overvalued sectors are real estate investment trusts (REITs) and utilities, Millard said, as well as conservative stocks with high dividend yields.
BUSINESS
March 3, 2014 | By David Sell, Inquirer Staff Writer
The people at Dorman Products Inc., in Colmar, Montgomery County, would like you to hold off buying a new car - for about 12 years. They are also fans of potholes. Dorman is in the business of designing and distributing aftermarket auto parts. The "after" in aftermarket is after you hit the pothole, your car is damaged in a dozen ways and needs to be repaired. The "after" is after your car's warranty has expired and your mechanic convinces you that spending $700 to fix something will let you drive the 10-year-old junker 10,000 more miles, just as he did three months earlier.
BUSINESS
January 10, 2014 | By David Sell, Inquirer Staff Writer
A local bidding war has erupted, with Teva Pharmaceutical Industries trying to trump a December offer by Endo Health Solutions to buy NuPathe Inc. Endo offered $105 million up front in December. Teva offered $149 million up front Monday. Teva, like Endo, is slightly desperate to find ways to generate cash right away to satisfy stockholders and Wall Street. But neither is as desperate as NuPathe, which is close to turning out the lights. All three companies have big local operations.
BUSINESS
June 28, 2013 | By Steve Rothwell, Associated Press
NEW YORK - Better news on jobs and consumer spending pushed stocks higher Thursday. The Dow Jones industrial average and the Standard & Poor's 500 index rose for a third straight day. Bond yields fell for a second day, easing worries that a sudden spike in interest rates could hurt the economy. The Dow closed up 114.35 points, or 0.8 percent, to 15,024.49. The S&P 500 index climbed 9.94 points, or 0.6 percent, to 1,613.20. The Nasdaq composite rose 25.64 points, or 0.8 percent, to 3,401.86.
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