On Friday, TTM Technologies, Inc. (NASDAQ:TTMI)’s shares declined -0.21% to $9.37.
Stifel analyst Matthew Sheerin downgraded the rating on TTM Technologies, Inc. (TTMI) from Buy to Hold. The analyst believes that the successful integration of Viasystems Group, Inc. (NASDAQ: VIAS) is already priced into the stock.
The rating on the company had been upgraded in April 2014 after TTM Technologies successfully ramped new product lines for Apple Inc. (NASDAQ: AAPL) in 2H14, which led to margin expansion and revenue growth for the former company. TTM Technologies also successfully trimmed its portfolio and implemented cost cutting initiatives, while also concluding the Viasystems acquisition.
The company has been able to achieve cost savings worth about $55 million, most of which was driven by overhead reduction, while the rest was contributed by operating plant efficiencies. The analyst anticipates further cost saving to be gradual, with most of the benefits coming in during 1HF16. However, the analyst also anticipates incremental expenses due to the recent loan.
TTM Technologies, Inc., together with its auxiliaries, provides various printed circuit board (PCB) products and backplane assemblies worldwide. The company offers high density interconnect, conventional, flexible, and rigid-flex PCBs, in addition to backplane assemblies and IC substrates. It also offers various services, such as design for manufacturability support during new product introduction stages; PCB layout design; simulation and testing services; quick turnaround production; and drilling and routing services.
LinkedIn Corp (NYSE:LNKD)’s shares gained 2.60% to $224.97.
LinkedIn Corp (LNKD) the world’s largest professional network on the Internet, declared that it will host a conference call to talk about its second quarter 2015 business results and outlook on Thursday, July 30th, 2015, at 2:00 p.m. Pacific Time, following the release of the Company’s business results. Jeff Weiner, CEO, and Steve Sordello, CFO, will host the call.
LinkedIn Corporation, together with its auxiliaries, operates an online professional network worldwide. The company, through its proprietary platform, allows members to create, manage, and share their professional identity online; build and engage with their professional networks; access shared knowledge and insights; and find business opportunities.
At the end of Friday’s trade, USG Corporation (NYSE:USG)‘s shares dipped -0.86% to $26.46.
USG Corporation (USG) declares the completion of its glass-mat portfolio with the addition of four new products.
New exterior product:
- USG Securock®Brand Glass-Mat Sheathing – High-performance sheathing for warranted protection from the elements, with new and improved coated fiberglass facer mat to maximize coverage of air/water barrier systems.
New interior products:
- USG Sheetrock®Brand Glass-Mat Panels Mold Tough® AR – High performance interior fiberglass-faced panels, offering greater resistance to surface indentation and impact damage than standard gypsum panels.
USG Corporation, through its auxiliaries, operates as a manufacturer and distributor of building materials worldwide. Its Gypsum segment provides gypsum and related products that are used to construct walls, ceilings, roofs, and floors of residential, commercial, and institutional buildings, in addition to in various industrial applications.
Fortune Brands Home & Security Inc(NYSE:FBHS), ended its Friday’s trading session with -1.20% loss, and closed at $44.29.
Fortune Brands Home & Security Inc (FBHS) revealed that it has closed an all-cash tender offer to buy all shares of the kitchen and bathroom cabinetry producer, Norcraft Companies Inc., for about $25.50 per share.
Fortune Brands had agreed to acquire Norcraft on Mar 30, 2015, following which it launched this tender offer on Apr 14. Norcraft will form part of Fortune Brands’ cabinet segment post the completion of the deal, complementing the latter well with its solid operational administration, robust dealer network and commendable experience.
On the other hand, Norcraft will leverage Fortune Brands’ strong resources and scale of operations. Overall, both the companies complement each other, which will likely drive results and boost shareholder value.
Fortune Brands Home & Security, Inc. provides home and security products for use in residential home repair, remodeling, new construction, security applications, and storage. It operates in four segments: Cabinets, Plumbing, Doors, and Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, in addition to vanities for the kitchen, bath, and other parts of the home under various brand names, counting Aristokraft, Kitchen Craft, Kitchen Classics, Omega, Schrock, Homecrest, Decorá, Diamond, St. Paul, Kemper, Thomasville, and Martha Stewart Living in North America.
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