On Tuesday, Shares of American Eagle Outfitters (NYSE:AEO), gained 1.94% to $16.33.
In conjunction with American Eagle Outfitters (AEO) third quarter 2015 earnings release, you are invited to listen to a broadcast of the conference call live over the Internet on Wednesday, December 2, 2015 at 4:15 p.m. ET.
American Eagle Outfitters, Inc. operates as a retailer of apparel and accessories in the United States and internationally. The company’s stores offers denims, pants, shorts, sweaters, fleece, outerwear, graphic T-shirts, footwear, and accessories for 15 to 25 year old men and women under the American Eagle Outfitters brand name; and intimates and personal care products for women the aerie brand name.
Shares of Target Corporation (NYSE:TGT), inclined 0.84% to $72.89, during its last trading session.
Target Corporation, declared its strongest Cyber Week offers ever, counting 15 percent off Target.com site wide on Cyber Monday (Nov. 30). The site wide offer marks the first time Target has discounted virtually everything on Target.com. In addition, Target will offer a host of e-door busters on Cyber Monday, in addition to steep discounts within key departments like apparel and toys, all Cyber Week long.
“We’re making Target.com a not-to-be-missed destination for deal-seekers on Cyber Monday and throughout Cyber Week,” said Jason Goldberger, president of Target.com and Mobile. “We’re confident holiday shoppers who are looking to quickly and conveniently check items off their lists won’t want to miss Target’s deep discounts in addition to free shipping and returns on Target.com.”
Target Corporation operates as a general merchandise retailer in the United States and Canada. It offers household essentials, counting pharmacy, beauty, personal care, baby care, cleaning, and paper products; music, movies, books, computer software, sporting goods, and toys; electronics, such as video game hardware and software; and apparel for women, men, boys, girls, toddlers, infants, and newborns, in addition to intimate apparel, jewelry, accessories, and shoes.
Finally, Shares of Tele Communication Systems, Inc. (NASDAQ:TSYS), remained flat at $4.94.
Com tech Telecommunications Corp. and Tele Communication Systems, jointly declared the signing of a definitive merger agreement under which Com tech will purchase TCS in a cash transaction for $5.00 per TCS share, or about a $430.8 million enterprise value. The $5.00 price per share represents a premium of 13.9% as contrast to the last closing trading price of TCS common stock, a premium of 28.6% as contrast to the volume-weighted average trading price over the last ninety trading days and a premium of 35.1% as contrast to the last closing trading price one day after TCS’s July 6, 2015 declaration that its Board had formed a special committee to explore planned alternatives to enhance stockholder value.
During the twelve months ended September 30, 2015, TCS stated revenue of $364.1 million and Adjusted EBITDA of $40.4 million, and during the twelve months ended July 31, 2015, Com tech stated revenue of $307.3 million and Adjusted EBITDA of $51.8 million. Based on the trailing twelve months stated for the two companies, pro forma combined revenue would have been $671.4 million, with Adjusted EBITDA of $92.2 million (not taking into account synergies). The combined companies employ about 2,000 people.
Dr. Stanton Sloane, President and Chief Executive Officer of Com tech, said, “We are excited to have reached this agreement with TCS and believe this combination is beneficial to the stakeholders of both companies. TCS is a unique business and a leading provider of mission-critical C4ISR solutions and next generation emergency 911 services to leading cellular and VoIP providers. The acquisition is a noteworthy step in our strategy of entering complementary markets and expanding our domestic and international commercial offerings. We welcome TCS’s senior administration and talented workforce to the Com tech team and are excited about the future.”
Tele Communication Systems, Inc. develops and delivers wireless communication technology in the United States, Europe, Latin America, Africa, and Asia. The company operates through two segments, Commercial and Government.