2:10 PM New York – AM Castle net loss narrowed despite revenues declined 17%. Forterra net loss widened. Moody''s plans to acquire Netherland-based Bureau van Dijk for $3.3 billion from EQT VI. Patheon agreed to be acquired by Thermo Fisher for $7.2 billion. TPG is in $2.7 billion deal with Fairfax Media.
Tollbooth Index jumped 65.64 or 0.5% to 12,161.06.
AM Castle & Co
) slumped 3.7% or 0.005 cents to 13 cents after the specialty metals distributor said net sales in the first-quarter ending in March declined 17% from a year ago to $135.9 million.
Net loss in the quarter narrowed to $13.5 million or 42 cents per diluted share from $36.9 million or $1.56 in the same quarter last year.
) tumbled 24.4% or $4.86 to $14.85 after the drainage pipes maker reported net sales in the first-quarter ending in March surged 81% from a year ago to $338.3 million.
Net loss in the quarter widened to $22.5 million or 35 cents per diluted share from $3.9 million in the same quarter last year.
The drainage pipes make forecasted net income in the second-quarter in the range of $3 million to $10 million and operating profit between $50 million and $60 million.
Kadmon Holdings Inc
) gained 1.9% or 5 cents to $2.70 after the bio-pharmaceutical products maker stated total revenues in the first-quarter ending in March plunged 42.3% from a year ago to $5.6 million.
Net loss in the quarter narrowed to $18 million or 39 cents per diluted share from $33.2 million or $4 in the same quarter last year.
) increased 1.3% or $1.49 to $116.26 after the credit ratings agency plans to acquire the Netherland-based financial information provider Bureau van Dijk, owned by the fund EQT VI for about $3.3 billion.
) surged 33.6% or $8.73 to $34.73 after the Netherlands-based drug-ingredients maker agreed to be acquired by the U.S.-based diagnostic and testing instruments maker Thermo Fisher Scientific Inc for $35 per share in cash, representing 35% to Friday close or $7.2 billion, including approx $2 billion of net debt.
The transaction is expected to complete by the end of this fiscal year.
Sorl Auto Parts, Inc
) surged 27.7% or $1.26 to $5.80 after the automobile brake and safety products maker stated net sales in the first-quarter ending in March soared 37.4% from a year ago to $73.9 million.
Net income in the quarter jumped to $6.9 million or 36 cents per diluted share from $0.4 million or 2 cents in the same quarter last year.
In fiscal 2017, automotive parts maker estimated net sales of about $315 million and net income of about $27.5 million.
, private-equity investor and the Canada-based Ontario Teachers Pension Plan offered to acquire Australasia''s leading media company Fairfax Media Limited for about $2.7 billion, including the domestic publisher of Sydney Morning Herald and the Age.