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By Stacey Hirsh and Stacey Hirsh,Sun reporter | March 7, 2007
Analysts said yesterday that a bid by a California private equity firm to buy Harford County technology company SafeNet Inc. is too low, and one of the Belcamp company's largest investors said they were "very disappointed" with the offer. SafeNet, which has been under federal investigation for its stock options awards, said Monday that it had agreed to be acquired by Vector Capital of San Francisco for $28.75 a share, making the deal worth about $634 million. The company's board has unanimously approved the acquisition, but the deal requires that 78 percent of SafeNet shares be tendered.
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January 26, 2012
Editor: Last November, Christ Our King Presbyterian Church in Bel Air once again joined an ongoing effort by Knox Presbyterian Church in East Baltimore to provide food  for Thanksgiving to families in need in Baltimore City and in Harford County. The 800 turkeys and boxes of non-perishable food supplied by Christ Our King were made possible by the generosity of church members, friends and many local businesses and organizations.  We wish to thank the following members of the Harford County and Baltimore area business community for their in-kind and financial donations: Amanda's Florist; the Arena Club; Bethel Presbyterian Church; Brightview Avondell; Brightview Bel Air Assisted Living; Cargill, Inc; Chesapeake Financial Solutions; Christopher J. Seling & Assoc., Inc.; Curves of Jarrettsville; DAJ, Inc., McDonald's of Churchville; Dermatology & Dermatologic Surgery; Frontier Pool Maintenance, Inc; Girl Scouts of Central Maryland, Troop 3120; Harford Financial Group; Hart Heritage Estates Assisted Living; Harvest Fare; Hogg Construction; Jones Junction; 46th Legislative District, Maryland House of Delegates; Long and Foster; Lorien Bel Air; Lorien Riverside Nursing and Rehabilitation Center; Maryland Food Bank; Metropolitan Title Company, Inc; Penske Trucks, Your Space Storage/Hickory; Presbyterian Women of Fallston Presbyterian Church; ReMax American Dream; Redner's Warehouse Markets; Rutherford and Rutherford, DDS; Skylight Creative Ideas;...
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NEWS
By Annie Linskey, The Baltimore Sun | June 23, 2010
The state Board of Public Works voted 2-1 to purchase the last 438 slot machines for the Cecil County casino from a single manufacturer, again overriding the protests of Comptroller Peter Franchot. Franchot had raised objections to the $15.8 million purchase, saying that the state's inexperience with slots makes it ill-equipped to negotiate with the gambling industry. He said taxpayers probably have been "taken to the cleaners" and suggested asking the General Assembly to change the law so that casino operators would have responsibility for buying slot machines.
NEWS
By Annie Linskey, The Baltimore Sun | June 23, 2010
The state Board of Public Works voted 2-1 to purchase the last 438 slot machines for the Cecil County casino from a single manufacturer, again overriding the protests of Comptroller Peter Franchot. Franchot had raised objections to the $15.8 million purchase, saying that the state's inexperience with slots makes it ill-equipped to negotiate with the gambling industry. He said taxpayers probably have been "taken to the cleaners" and suggested asking the General Assembly to change the law so that casino operators would have responsibility for buying slot machines.
EXPLORE
January 26, 2012
Editor: Last November, Christ Our King Presbyterian Church in Bel Air once again joined an ongoing effort by Knox Presbyterian Church in East Baltimore to provide food  for Thanksgiving to families in need in Baltimore City and in Harford County. The 800 turkeys and boxes of non-perishable food supplied by Christ Our King were made possible by the generosity of church members, friends and many local businesses and organizations.  We wish to thank the following members of the Harford County and Baltimore area business community for their in-kind and financial donations: Amanda's Florist; the Arena Club; Bethel Presbyterian Church; Brightview Avondell; Brightview Bel Air Assisted Living; Cargill, Inc; Chesapeake Financial Solutions; Christopher J. Seling & Assoc., Inc.; Curves of Jarrettsville; DAJ, Inc., McDonald's of Churchville; Dermatology & Dermatologic Surgery; Frontier Pool Maintenance, Inc; Girl Scouts of Central Maryland, Troop 3120; Harford Financial Group; Hart Heritage Estates Assisted Living; Harvest Fare; Hogg Construction; Jones Junction; 46th Legislative District, Maryland House of Delegates; Long and Foster; Lorien Bel Air; Lorien Riverside Nursing and Rehabilitation Center; Maryland Food Bank; Metropolitan Title Company, Inc; Penske Trucks, Your Space Storage/Hickory; Presbyterian Women of Fallston Presbyterian Church; ReMax American Dream; Redner's Warehouse Markets; Rutherford and Rutherford, DDS; Skylight Creative Ideas;...
BUSINESS
By Eileen Ambrose and Eileen Ambrose,eileen.ambrose@baltsun.com | January 28, 2009
Provident Bankshares Corp.'s fourth-quarter loss grew to $26.7 million, or 88 cents a share, largely because of an accounting charge and an increase in funds set aside for loan losses, the Baltimore-based company reported yesterday. In the corresponding quarter a year ago, Provident lost $15.5 million, or 49 cents a share. "As we anticipated, the deterioration in economic conditions during the fourth quarter had a significant impact on our investment and loan portfolios," Chairman and Chief Executive Officer Gary N. Geisel said in a statement.
BUSINESS
By ANDREW LECKEY and ANDREW LECKEY,TRIBUNE MEDIA SERVICES | July 16, 2006
Beverages can be a refreshing antidote for the summertime stock market blues. Shares of Anheuser-Busch Cos., the world's largest brewer, are up 5 percent this year. Steven Ralston, senior analyst with Zacks Investment Research, said it is an attractive purchase because it has about half the U.S. beer market. Aside from Budweiser, it also owns 50 percent of Mexico's Grupo Modelo, maker of Corona beer, and recently purchased the Rolling Rock brand. These are reasons why Warren E. Buffett's Berkshire Hathaway owns 44 million Anheuser-Busch shares.
BUSINESS
By Laura Smitherman and Laura Smitherman,SUN STAFF | August 26, 2005
Legg Mason Inc.'s capital markets division, which the Baltimore firm agreed to sell along with its brokers to the financial powerhouse Citigroup Inc., has been stung by a string of defections to competitors as employees speculate that their division will soon be sold again. Citigroup and Legg Mason agreed in June to swap portions of the companies to focus on their most profitable businesses. The $3.7 billion deal enables Citigroup to expand its broker network and turns Legg Mason, which will get the Smith Barney unit, into the fifth-largest money manager in the world.
BUSINESS
By ALLISON CONNOLLY and ALLISON CONNOLLY,SUN REPORTER | June 29, 2006
McCormick & Co. Inc. saw its second-quarter profit jump 44 percent, thanks largely to a $27 million tax gain from the restructuring of a joint venture. The Sparks-based spice maker reported yesterday that it earned $61.6 million, or 46 cents a share, during the three months that ended May 31, compared with $42.8 million, or 31 cents a share, a year earlier. Excluding the tax gain and other restructuring efforts that contributed 14 cents a share to earnings, the company earned 32 cents a share, beating the consensus forecast of analysts polled by Thomson Financial by 2 cents.
BUSINESS
By BLOOMBERG NEWS | March 25, 2005
WASHINGTON - Adelphia Communications Corp., the fifth-largest U.S. cable-television operator, has offered to pay $725 million to settle federal fraud investigations and clear an obstacle to the company's efforts to emerge from bankruptcy. Settlement talks are continuing. The offer covers Securities and Exchange Commission and Justice Department proceedings, the Greenwood Village, Colo. company said yesterday in a regulatory filing. A settlement would bring Chief Executive Officer William T. Schleyer a step closer to reshaping the company after the ninth-largest bankruptcy in U.S. history.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,eileen.ambrose@baltsun.com | January 28, 2009
Provident Bankshares Corp.'s fourth-quarter loss grew to $26.7 million, or 88 cents a share, largely because of an accounting charge and an increase in funds set aside for loan losses, the Baltimore-based company reported yesterday. In the corresponding quarter a year ago, Provident lost $15.5 million, or 49 cents a share. "As we anticipated, the deterioration in economic conditions during the fourth quarter had a significant impact on our investment and loan portfolios," Chairman and Chief Executive Officer Gary N. Geisel said in a statement.
BUSINESS
By Lorraine Mirabella and Jamie Smith Hopkins and Lorraine Mirabella and Jamie Smith Hopkins,lorraine.mirabella@baltsun.com and jamie.smith.hopkins@baltsun.com | September 25, 2008
Commercial real estate has battled the nationwide credit crunch better than other industries, but that could be coming to an end. Mall owner General Growth Properties announced this week that debt problems could force it to sell assets or even the whole company. Analysts said the decision highlights a growing problem in commercial real estate as Wall Street turmoil seeps into markets across the country. Some commercial property owners are finding themselves in the same situation as many homeowners.
NEWS
By DAN RODRICKS and DAN RODRICKS,dan.rodricks@baltsun.com | September 23, 2008
Can we reopen the Boscov's case now? Maybe Hank Paulson, Ben Bernanke, George Bush and all the other suits involved in trying to save Wall Street should reconsider Boscov's relationship to my job, to the jobs of hundreds of my fellow Baltimoreans, and to the global economy. Boscov's was, for a time, a big advertiser in The Baltimore Sun, which pays my salary and the salaries of hundreds of other residents of the Greater Patapsco Drainage Basin. But Boscov's, the family-run department store chain from Reading, Pa., filed for Chapter 11 last month and said it would start liquidating everything and closing stores, including three that anchored some of our largest malls - Owings Mills, Marley Station and White Marsh.
NEWS
By Lorraine Mirabella and Lorraine Mirabella,Sun reporter | August 2, 2008
When the $301 million, city-owned Hilton Baltimore Convention Center Hotel opens this month, city officials believe it still can bring sorely needed convention business to the city despite a weak economy that has dampened demand for lodging. Hotel and city officials, who offered yesterday the first peek inside the 757-room hotel, say early booking results by convention groups and other travelers are promising. And the hotel will achieve its goal of opening on time and on budget, they said.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | July 30, 2008
Sports apparel company Under Armour Inc. took a calculated gamble earlier this year, spending millions to promote a new performance trainer sneaker even though it knew it would take an earnings hit and upset some investors. Yesterday it appeared it was paying off. As expected, the Baltimore company posted a profit drop for the second quarter. But the 75 percent decline was less than analysts predicted, and revenue rose 30 percent, thanks to successful sales of the cross trainer. It sold through almost a third of available inventory of the shoe in four weeks.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | March 7, 2007
Analysts said yesterday that a bid by a California private equity firm to buy Harford County technology company SafeNet Inc. is too low, and one of the Belcamp company's largest investors said they were "very disappointed" with the offer. SafeNet, which has been under federal investigation for its stock options awards, said Monday that it had agreed to be acquired by Vector Capital of San Francisco for $28.75 a share, making the deal worth about $634 million. The company's board has unanimously approved the acquisition, but the deal requires that 78 percent of SafeNet shares be tendered.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | February 12, 2003
Lanham-based Radio One Inc., the nation's largest radio broadcaster serving black listeners, reported yesterday a profitable fourth quarter as the advertising market improved and the audience grew at many of its stations. Net income was $3 million or 3 cents a share, compared with a loss of $15 million, or 16 cents per share, for the corresponding period a year earlier. Two key indicators of a company's performance in the radio industry were positive for Radio One in the three months that ended Dec. 31: Net broadcast revenue was $76.9 million, up 14 percent from $67.4 million the year before, while broadcast cash flow climbed 19 percent, from $33 million to $39 million.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | August 5, 2003
Hip-hop has become radio's new battleground. And that has meant new business - and new challenges - for Radio One Inc., the Lanham company that built a multimillion-dollar empire by operating radio stations aimed at African-American listeners. The hip-hop genre has gone mainstream. Seven of Billboard's current top 10 hits are by such hip-hop stars as Beyonce, Jay-Z, 50 Cent, Lil' Kim and Chingy. The rapper Eminem won an Oscar and Grammy awards for the soundtrack from his critically acclaimed movie 8 Mile.
BUSINESS
By Laura Smitherman and Laura Smitherman,Sun reporter | December 31, 2006
Investors love a good story. Chindex International Inc., a Bethesda-based provider of Western health care in booming China, announced this year that it would market the first preferred-provider health insurance plan there. The company also turned in two quarters of profits after nearly two years of losses. Its stock zoomed ahead 271 percent in 2006. Osiris Therapeutics Inc., a Baltimore adult stem-cell company, went public in August. Within a few months, it revealed that its lead drug shows promise as a treatment for pain- ful Crohn's disease.
BUSINESS
By ANDREW LECKEY and ANDREW LECKEY,TRIBUNE MEDIA SERVICES | July 16, 2006
Beverages can be a refreshing antidote for the summertime stock market blues. Shares of Anheuser-Busch Cos., the world's largest brewer, are up 5 percent this year. Steven Ralston, senior analyst with Zacks Investment Research, said it is an attractive purchase because it has about half the U.S. beer market. Aside from Budweiser, it also owns 50 percent of Mexico's Grupo Modelo, maker of Corona beer, and recently purchased the Rolling Rock brand. These are reasons why Warren E. Buffett's Berkshire Hathaway owns 44 million Anheuser-Busch shares.
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