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Market Update

Nexstar Pursues Media General, Salesforce Buys SteelBrick


Author: Mukesh Buch
ticker.com
Last Update: 11:29 AM ET December 24 2015

11:25 AM New York EZCorp net loss widened. Nexstar Broadcasting is in talks to acquire Media General for $2 billion. Piedmont Natural Gas net dropped 5%. Salesforce.com agreed to acquire billing services provider SteelBrick for $360 million.

Tollbooth Index fell 19.85 or 0.2% to 10,817.94.

Earnings Review

EZCorp Inc (EZPW) declined 3.9% or 21 cents to $5.18 after the consumer lender said revenues in the year ending in September fell 1.5% from a year ago to $788.4 million.

Net loss in the year widened to $86.4 million or $1.59 per diluted share compared to $64.7 million or $1.19 per share from the same quarter last year.

KaloBios Pharmaceuticals Inc (KBIO) closed at $23.59 after the pharmaceutical company received a delisting notice from the Nasdaq and warned the company if it does not respond by December 28, trading of its shares will be suspended on December 30.

Nexstar Broadcasting Group, Inc (NXST) gained 45 cents to $58.95 after the broadcasting and media group is in talks to acquire Media General for $17.50 per share or above $2 billion.

Piedmont Natural Gas Company, Inc (PNY) rose 7 cents to $56.99 after the energy services provider said revenues in the year ending in October plunged 6.7% from a year ago to $1.37 billion.

Net income in the year dropped 4.7% to $137 million or $1.37 per diluted share compared to $143.8 million or $1.84 per share from the same quarter last year.

Sunedison Inc (SUNE) surged 9.3% or 50 cents to $5.89 after the photovoltaic energy solution provider confirmed talks for a new second lien credit facility of up to $650 million.

The company said a portion of the proceeds will be used to repay the existing second lien credit facility.

Salesforce.com, Inc (CRM) fell 14 cents to $77.96 after the cloud computing solution provider stated plans to buy SteelBrick Inc, a provider of billing service to small- and medium-size companies for about $360 million.

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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