On Friday, General Dynamics Corporation (NYSE:GD)’s shares declined -0.62% to $145.08.
General Dynamics Corporation (GD) was awarded a contract to continue assisting the Centers for Medicare & Medicaid Services (CMS) Retiree Drug Subsidy (RDS) program. The indefinite delivery, indefinite quantity contract has a value of about $43.5 million, with a one-year base period and four option years.
The RDS program runs a website that serves as a comprehensive resource center for organizations participating in the program and encourages employers and unions to continue providing high-quality prescription drug coverage to their retirees. General Dynamics will deliver infrastructure, software and development, technical support, operations administration, education and training, payment and appeals processing, and compliance oversight for the RDS program’s public website and a secure website for plan sponsors.
General Dynamics Corporation operates as aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, manufactures, and outfits business-jet aircrafts; provides aircraft services, such as maintenance, repair work, fixed-based operations, and aircraft administration services; and performs aircraft completions for aircraft.
RR Donnelley & Sons Co (NASDAQ:RRD)’s shares gained 1.09% to $18.57.
RR Donnelley & Sons Co (RRD) declared the completion of the acquisition of Courier Corporation for about $261 million.
Per a merger agreement signed in February this year, Donnelley was to pay the acquisition consideration in a combination of 49% cash and 51% stock to Courier shareholders. The shareholders were given option of either receiving $23 per share in cash or 1.3756 Donnelley share for each they own.
Courier Corporation specializes mainly in offering digital printing, publishing and content administration in educational, religious and trade books across the United States. The acquisition is anticipated to enhance R.R. Donnelley’s content administration, digital print and distribution capabilities.
Acquisitions have played a key role in Donnelley’s growth over the last few years. It has attained 16 companies during 2010-2014 for about $1.16 billion. These acquisitions have not only expanded its product portfolio but its customer base as well.
R.R. Donnelley & Sons Company provides integrated communications solutions to private and public sector clients in the United States and internationally. The company operates through Publishing and Retail Services, Variable Print, Planned Services, and International segments. Its product and service offerings comprise magazines, catalogs, retail inserts, books, directories, and packaging products; commercial and digital print, direct mail, office products, labels, statement printing, and forms; and logistics services, financial print products and related services, print administration products, and digital and creative solutions.
At the end of Friday’s trade, Steel Dynamics, Inc. (NASDAQ:STLD)‘s shares dipped -0.33% to $21.39.
Steel Dynamics, Inc. (STLD) joined by AK Steel Corporation, ArcelorMittal USA, California Steel Industries, Nucor Corporation, and United States Steel Corporation, petitioned the Department of Commerce (DOC) and the U.S. International Trade Commission (ITC) to apply antidumping (AD) and countervailing duties (CVD) against imports of corrosion resistant steel from China, India, Italy, South Korea, and Taiwan.
Imports of corrosion resistant sheet steel between 2012 and 2014 from the five subject countries raised 85%, from 1.5 million to 2.75 million tons. Further, imports raised by one third in the first quarter of 2015, from 600,000 to 800,000 tons, and based on licensing data have additionally raised in the second quarter. Over 15% of the U.S. market was lost to these subject imports, more than doubling their share between 2012 and the first quarter 2015.
The company produces corrosion-resistant steel counting hot dipped galvanized, Galvalume®, and painted steel at its facilities in Butler and Jeffersonville, Indiana; Columbus, Mississippi and three facilities (The Techs) in the Pittsburgh, Pennsylvania metropolitan area. The product is used in many construction applications, in addition to in automotive parts and numerous consumer products.
Steel Dynamics, Inc., together with its auxiliaries, manufactures and sells steel products, processes and sells recycled ferrous and nonferrous metals, and fabricates and sells steel joist and decking products in the United States and internationally. The company operates in three segments: Steel Operations, Metals Recycling and Ferrous Resources Operations, and Steel Fabrication Operations.
Amicus Therapeutics, Inc. (NASDAQ:FOLD), ended its Friday’s trading session with 1.66% gain, and closed at $13.49.
Amicus Therapeutics, Inc. (FOLD) declared the closing of its formerly declared public offering of common stock. Prior to the closing, the underwriters exercised in full their option to purchase an additional 2,547,170 shares of common stock. As a result, the Company issued a total of 19,528,302 shares in the offering at a price of $13.25 per share.
The gross proceeds from the offering to Amicus are predictable to be $258.8 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Amicus. J.P. Morgan Securities LLC and Goldman, Sachs & Co. acted as joint book-running managers for the offering. Cowen and Company, LLC acted as lead manager and Janney Montgomery Scott LLC acted as co-manager for the offering.
Amicus Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for various rare and orphan diseases. Its product candidate is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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