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Market Update

Gray Television, GTT Jump; Shiloh, Unilife Plunge


Author: Mukesh Buch
ticker.com
Last Update: 2:15 PM ET September 15 2015

2:15 PM New York Gray Television agreed to acquire privately-owned Schurz Communications for $442.5 million. GTT Communications agreed to buy One Source Networks for $175 million. Huron Consulting agreed to acquire Cloud62. Shiloh net tumbled 76%. Unilife net loss widened.

Tollbooth Index increased 74.13 or 0.7% to 10,372.50.

Earnings Review

Gray Television, Inc (GTN) surged 13.8% or $1.62 to $13.36 after the broadcasting company agreed to acquire the privately-owned all television and radio stations of Schurz Communications, Inc for about $442.5 million.

The deal is expected to close either in the fourth-quarter or during the first-quarter of 2016.

GTT Communications Inc (GTT) soared 6.8% or $1.53 to $24.03 after the cloud networking services provider agreed to acquire the global data and internet protocol services provider One Source Networks for $175 million in cash and stock.

The transaction is expected to close by end of the next month.

Huron Consulting Group (HURN) gained 1.4% or $1.04 to $73.91 after the financial consulting services provider agreed to acquire Cloud62, cloud-based applications provider, without disclosing of financial terms.

Park City Group, Inc (PCYG) slipped 1.6% or 18 cents to $11.11 after the software company said revenues in the fourth-quarter ending in June surged 13.2% from a year ago to $3.4 million.

Net loss in the quarter widened to $2.5 million or 14 cents per diluted share compared to $0.6 million or 4 cents from the same quarter last year.

Shiloh Industries, Inc (SHLO) tumbled 18.5% or $1.90 to $8.35 after the commercial vehicle parts supplier reported revenues in the third-quarter ending in July soared 27.2% from a year ago to $275.2 million.

Net income in the quarter tumbled 75.9% to $2 million or 11 cents per diluted share compared to $8.3 million or 49 cents from the same quarter last year.

Unilife Corp (UNIS) plummeted 9.1% or 12 cents to $1.20 after the drug distributor stated revenues in the fourth-quarter ending in June plunged 47.7% from a year ago to $3.4 million.

Net loss in the quarter widened to $26.1 million or 22 cents per diluted share compared to $15.3 million or 15 cents from the same quarter last year.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc