Ixia (NASDAQ:XXIA) tries to make charm in street, as shares traded at $19.45 with jumps up of 6.87% in last trading session. Ixia (XXIA) confirmed that it will be acquired by Keysight Technologies (KEYS) for $19.65/share in cash, or approximately $1.6 billion. Keysight Technologies (KEYS) and Ixia reported a definitive contract for Keysight to acquire Ixia in an all-cash transaction totaling approximately $1.6 billion in consideration, net of cash.
The Board of Directors of both companies have unanimously authorized the transaction, which is anticipated to close no later than the end of October 2017 and is subject to customary closing conditions and approvals. Under the terms of the contract, Ixia shareholders will receive $19.65 per share in cash.Keysight expects the transaction to be immediately accretive to adjusted earnings with annual cost synergies of $60 million, of which $50 million is expected to be achieved within 24 months. Revenue synergies are expected to be in excess of $50 million by year three and $100 million by year five. The firm has annual sales growth for the past five year of 13.20%. While past twelve months price to sales ratio recorded as 3.23 and price to cash ratio remained 13.14.
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Banc of California, Inc. (NYSE:BANC) rose turns in hot stance in regular session as it 3.04% to $15.25 in the session with shares volume of 3.25 Million. Banc of California Inc. (BANC) declared fourth-quarter net income of $33.3 million.The Irvine, California-based bank said it had earnings of 54 cents per share.The results topped Wall Street expectations.
The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.The banking service and lending company posted revenue of $183.5 million in the period. Its adjusted revenue was $166.7 million, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $148.3 million.For the year, the company declared profit of $115.4 million, or $1.94 per share. Revenue was declared as $597.4 million.
What made Banc of California, Inc. to beat analysts’ forecasts in this rally? Read Full Report Here
Shares of Tempur Sealy International, Inc. (NYSE:TPX) jumped down -28.01% to finish at $45.49 in last run as Tempur Sealy Int’l (TPX) anticipated that it will cease doing business with Mattress Firm, a unit of Steinhoff (SNHFY), during 1Q17. The firm reported that during the week of January 23, 2017, senior management of Mattress Firm Holdings (MFRM) and representatives of its parent Steinhoff International Holdings N.V., verbally notified the Company of its intent to terminate all of their contracts with the Company in the US, if the Company did not agree to considerable changes to their contracts, including important economic concessions.
The firm engaged in discussions to facilitate a mutually agreeable supply arrangement with Mattress Firm (MFRM).However, the parties were unable to reach an contract, and the Company issued formal termination notices for all of its brands to Mattress Firm as of January 27, 2017.The Company anticipates it will cease doing business with Mattress Firm during 1Q17.THe co also filed Q4 prelim guidance w/ the press release so check our 6:06 for more details on TPX’s guidance
Looking toward firm’s returns performance, it has return on equity of 59.90% and returns on assets was calculated 4.80% with -33.38% year to date performance. The annual sales growth for the past five year was 23.30%.
How Tempur Sealy International, Inc. attracted investors to get BUY rating after this bullish run? Find Facts Here