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By Jay Hancock | March 14, 2011
Few things inspire financial journalists, stock analysts and investment bankers like rumors about corporate mergers and acquisitions. M&A action creates drama for the writers, bonuses for prescient analysts and huge fees for the bankers. So perhaps it's no shock that since December there has been background buzz about a possible takeover of Baltimore-based Constellation Energy Group by Chicago-based Exelon Corp. Energy shares are making a comeback. Constellation stock is missing the party.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | March 21, 2014
Under Armour paid CEO Kevin Plank almost $3.2 million last year, more than double his compensation in 2012, the company disclosed Friday. It was a high-flying year for the Baltimore sports apparel company, which saw its stock price rise 80 percent. It announced a 2-for-1 stock split this week. As the company's founder and largest shareholder, Plank was the prime beneficiary. His roughly 20 million shares were worth more than $2 billion as of Feb. 21, Under Armour said in its U.S. Securities and Exchange Commission filing Friday.
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BUSINESS
By Julius Westheimer | May 11, 1993
Fading in late trading, stock prices managed to hang onto minor gains yesterday. The Dow Jones industrial average, ahead almost 30 points at lunchtime, added only 6.09 points and closed at 3,443.28. At the closing bell yesterday the Dow stood about 1 percent below its all-time peak.WALL ST. WISDOM: "Stocks in world-class major drug companies have been bashed and battered for the wrong reason. Stocks like Merck, Bristol Myers-Squibb, Pfizer, Sandoz, etc., have fallen 25 to 40 percent in 18 months.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 18, 2014
Sinclair Broadcast Group Inc. plans to buy back up to $100 million of its common shares. "We strongly believe in the long-term outlook of our company and our business model and disagree with the market's current discounted view on broadcast," said Sinclair CEO David Smith in the company's announcement Friday. The Hunt Valley TV station owner said it will buy back stock on the open market "from time to time. " Sinclair's stock price has dipped 20 percent since the start of the year, closing up more than $1 Friday at $28.47 per share.
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | October 19, 1994
In an effort to persuade skeptical investors that their stock is worth more than the going price, PHH Corp. announced yesterday that it would buy back as many as 1.7 million shares -- or about 10 percent of those outstanding."
BUSINESS
By Michelle Singletary and Michelle Singletary,Evening Sun Staff | June 19, 1991
For stockholders of Biospherics Inc., lightning does strike twice in the same place.For the second time in three months, the company's stock price has shot up. Yesterday the price rose 36 percent, but company officials said they didn't have a clue as to why it soared.In trading yesterday, the stock closed at $9.87 1/2 up $2.62 1/2 and 255,000 shares changed hands. On Monday, when the stock closed at $7.25, only 32,000 shares were traded.On April 5, Biospherics stock closed at $4. The following Monday, the stock soared to $7.25.
NEWS
By Ian Johnson and Ian Johnson,New York Bureau | January 6, 1994
NEW YORK -- Once they strode down Wall Street, causing mighty companies to quake at their pronouncements. Now, short sellers are more likely to be found writing newsletters or standing in a bread line.Their descent says much about the three-year bull market: Short sellers make money when stock prices fall, so many have been drowning amid the rising market.That's a far cry from the 1980s, when an erratic stock market provided choice pickings for Wall Street's professional pessimists. Best known among that swashbuckling crowd were the Feshbach brothers of San Francisco, who once had $1 billion under management but now have a reported $120 million.
BUSINESS
By Liz Bowie and Liz Bowie,SUN STAFF | April 4, 1997
A Montgomery County circuit judge has thrown out a shareholders' lawsuit against Mid-Atlantic Medical Services Inc. that accused the company of misleading them about the company's financial health.The shareholders had alleged that the Rockville-based managed-care company made misleading statements that inflated its stock price long enough for Mamsi's chief executive to sell shares worth nearly $3 million."We take some pride in the fact that the state court set it aside," said Mamsi Vice Chairman Thomas P. Barbera.
BUSINESS
By New York Times News Service | November 15, 1994
DETROIT -- With one tart letter to the Chrysler Corp.'s board, Kirk Kerkorian, the largest investor in the company, made $100 million in paper profits yesterday.He said he planned to increase his 9 percent stake in Chrysler, the No. 3 U.S. automaker, and would put pressure on the board to quickly raise the share price.Chrysler stock surged $3.125 on the news, to close at $49, with almost 4 million shares changing hands. It was the second-most-active issue on the New York Stock Exchange.Mr.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | March 21, 2014
Under Armour paid CEO Kevin Plank almost $3.2 million last year, more than double his compensation in 2012, the company disclosed Friday. It was a high-flying year for the Baltimore sports apparel company, which saw its stock price rise 80 percent. It announced a 2-for-1 stock split this week. As the company's founder and largest shareholder, Plank was the prime beneficiary. His roughly 20 million shares were worth more than $2 billion as of Feb. 21, Under Armour said in its U.S. Securities and Exchange Commission filing Friday.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 1, 2014
Chemical maker W.R. Grace & Co. is about to go where it hasn't been for nearly 13 years: out of bankruptcy. The Chapter 11 case, one of the longest on record, got underway as the Columbia-based company faced more than 100,000 asbestos-related claims. Now, after negotiations, settlements and numerous appeals, Grace said it is finally on the brink of emerging from court protection - possibly as soon as Monday. In between, Grace agreed to pay all creditors in full, acquired more than two dozen companies and pushed its stock from $1.52 a share to more than $90. "This is just an absolutely amazing Chapter 11 case," said Peter A. Chapman, president of Bankruptcy Creditors' Service, which publishes newsletters about corporate restructuring.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 14, 2014
The Dolan Co., owner of The Daily Record in Baltimore, has signaled financial distress by hiring a restructuring officer, deciding against paying a dividend and disclosing that it received a warning from the New York Stock Exchange over its low stock price. The Minneapolis-based professional services and business information firm made all three announcements in the last several weeks. Dolan said its new chief restructuring officer, Kevin Nystrom of Zolfo Cooper, will work to "stabilize" its finances.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | October 25, 2013
When Osiris Therapeutics disclosed an agreement last week resolving concerns from federal regulators, the Columbia biotech firm pitched it as a win. The deal doesn't require changes to its marketing of Grafix bandages, Osiris said, and also gives it the opportunity to get a biologics license that could improve international prospects for the product. But some news stories — and at least one Wall Street analyst team — described the U.S. Food and Drug Administration agreement in entirely different terms.
ENTERTAINMENT
By Wesley Case, The Baltimore Sun | September 25, 2013
To call Smaltimore, the Canton bar that replaced Lager's Pub in July, "busy" on a recent Sunday afternoon would be a severe understatement. Surrounded by almost all New York Giants fans - the rowdy type, as if there is any other kind - I took two steps forward through the main entrance and quickly realized that would be as far as I could comfortably go. It was a shoulder-to-shoulder playoff atmosphere, filled with fans rooting for a team that would...
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 25, 2013
Columbia chemical maker W.R. Grace & Co. said Thursday that it took a hit to sales in the second quarter as a price increase prompted customers to jump ship. Investors didn't like that news, pressing the stock price down $5.33 a share — more than 6 percent — to $78.45 at market's close. Grace's revenue fell about 3 percent in the three months ending June 30, to $802.8 million, compared with the year-earlier period. Profit rose — nearly 20 percent — but that was driven in part by an approximately $20 million drop in asbestos-related costs.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 12, 2013
When T. Rowe Price Group looked to add a director to its board last month, the Baltimore money manager chose someone with widespread name recognition: former Sen. Olympia J. Snowe of Maine. Earlier this year, Price added another notable figure to its board: Freeman A. Hrabowski III, president of the University of Maryland, Baltimore County, whom Time magazine named last year as one of the 100 most influential people in the world. Price is by no means alone in appointing high-profile or so-called celebrity directors.
BUSINESS
By Rona Kobell and Rona Kobell,SUN STAFF | August 11, 2000
In an effort to boost its sagging stock price, Sylvan Learning Systems Inc. said yesterday that it is holding a Dutch auction to buy back 6 million shares of its common stock. In a Dutch auction, the price of shares is lowered until it meets a bid and is sold. The company's tender offer is for between $13.50 and $15 a share for up to 6 million shares - 14.3 percent of its outstanding shares. The tender offer expires Sept. 7. Sylvan's board voted for the buyback because it considers the stock undervalued, said Chris Symanoskie, manager of investor relations.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 25, 2013
Columbia chemical maker W.R. Grace & Co. said Thursday that it took a hit to sales in the second quarter as a price increase prompted customers to jump ship. Investors didn't like that news, pressing the stock price down $5.33 a share — more than 6 percent — to $78.45 at market's close. Grace's revenue fell about 3 percent in the three months ending June 30, to $802.8 million, compared with the year-earlier period. Profit rose — nearly 20 percent — but that was driven in part by an approximately $20 million drop in asbestos-related costs.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 3, 2013
Legg Mason Inc.'s compensation committee awarded CEO Joseph A. Sullivan options to purchase a half million shares of the company stock at $31.46 per share, the Baltimore-based money manager announced in a regulatory filing. The company said the options recognize Sullivan's promotion to CEO in February and are designed to be an incentive to build Legg's business. The options vest in 25 percent parcels. The first quarter will vest in May 2015, meaning Sullivan can purchase them after that date.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 6, 2013
Columbia chemical maker W.R. Grace & Co. reported profits Wednesday of $94.1 million last year, a big slide from 2011 that was driven by the company's $365 million non-cash charge for asbestos liabilities. But the charge, announced in January, was lower than expected for the fourth quarter. Wall Street seemed pleased by the earnings report and the company's rosier outlook for 2013 - Grace's stock was up nearly 4 percent in late morning trading, to about $75.40 a share. The company said it expects adjusted earnings before interest and taxes for this year will rise 8 to 12 percent over the same measure last year.
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