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   Strategies & Market TrendsSpeculating in Takeover Targets

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To: richardred who wrote (3534)1/28/2014 11:34:17 AM
From: richardred
   of 7071
RE: SKY Any coincidence Warren Buffett's favorite bank (Wells Fargo) owns 15%?

A good trend for the industry?

ELKHART, Ind., Oct. 24, 2013 /PRNewswire/ -- Patrick Industries, Inc. (PATK), a major manufacturer and distributor of building and component products for the recreational vehicle ("RV"), manufactured housing ("MH") and industrial markets, today reported its financial results for the third quarter and nine months ended September 29, 2013.

Third Quarter 2013 Financial Results

Net sales for the third quarter of 2013 increased $33.7 million or 29.8%, to $146.6 million from $112.9 million in the same quarter of 2012. The increase was primarily attributable to a 35% increase in the Company's revenue from the RV industry, which represented approximately 70% of the Company's third quarter 2013 sales. Sales to the MH industry increased 16%, while sales to the industrial markets increased 25%. The Company estimates that RV industry wholesale unit shipments increased approximately 10% in the third quarter of 2013 compared to the prior year.

P.S. A Elkhart Indiana tie in where SKY is also based.
Forest River Inc, a US manufacturer of a diverse line of primarily recreational vehicle products, $1.6 billion in sales, 60 plants, 5,400 employees. Located in Elkhart, Indiana, the company operates multiple manufacturing facilities throughout the Mid West and West Coast. [1] CEO, Peter Liegl founded the company in 1996, which today makes all classes of RVs, cargo trailers, utility trailer, pontoon boats, light and medium-duty buses (primarily shuttle buses, not inner-city transit buses), portable offices, and structures to use for temporary schools. Forest River also owns a manufactured housing business, Hart Homes. [2]

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To: richardred who wrote (3606)1/28/2014 1:05:11 PM
From: richardred
1 Recommendation   of 7071
New buy to re-establish a long position- TDC. I will wait till after earnings to possible add. .85 cents is expected, but I think TDC is getting some competition and could disappoint.

FWIW-Interesting PR after I posted previously about SAP.
Message 29353351

PR on MON.
Teradata Delivers Breakthrough Business Analytics for SAP® Users New solution offers analytic alternative, while reducing IT complexity and cost.

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To: richardred who wrote (3579)1/30/2014 9:36:54 AM
From: richardred
1 Recommendation   of 7071
Looks like I sold ACCL three weeks to early.
Message 28868301

Dassault Systemes to buy U.S. based Accelrys for $750 million
PARIS (Reuters) - Dassault Systemes has agreed to buy U.S. scientific software firm Accelrys in an all-cash deal valuing the San-Diego company at about $750 million, as it seeks to expand its product portfolio, the software company said on Thursday.

The French maker of computer-assisted design programs said it would self-finance the offer for Accelrys, which provides scientific software for the energy, aerospace and industrial goods sectors, at a price of $12.50 per share.

"Our ambition is to offer solutions in all areas of bio sciences where we want to be leader," Dassault Systemes CEO Bernard Charles told Reuters by phone.

The board of Accelrys, whose clients include Sanofi, L'Oreal and Unilever has unanimously approved the transaction which is expected to be completed during the second quarter of 2014, Dassault said.

Charles would not discuss the financial impact of the deal as Dassault Systemes unveils its full-year earnings on February 6.

According to Accelrys website, the U.S. group had revenue of $122.051 million and an operating loss of $22.8 million in the first nine months of 2013.

Recent Dassault Systemes' acquisitions have included U.S.-based software developer Apriso and Realtime Technology AG, a provider of 3D visualization software.

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To: richardred who wrote (3558)1/30/2014 11:46:12 AM
From: richardred
   of 7071
Lenovo picking up blue light specials lately. Interestingly Qualcomm recently bought Palm Patents From Hewlett-Packard.

Worth noting
Message 29338898

Message 27601424

Google agrees to sell Motorola to Lenovo for $2.9 billion
Alistair Barr, USA TODAY 8:28 p.m. EST January 29, 2014

Google is keeping most of Motorola's huge patent portfolio, the original reason the Internet search giant agreed to spend $12.5 billion buying the company in 2011

(Photo: Google/Motorola)

Story HighlightsLenovo gets Motorola brand, including Moto X smartphoneGoogle keeps most Motorola patents, provides Lenovo a license for some patentsGoogle agreed to pay $12.5B in August 2011 for MotorolaGoogle will keep selling its own line of Nexus smartphones


SAN FRANCISCO — Google said Wednesday it agreed to sell its Motorola business for almost $3 billion to China's Lenovo Group, a major strategy shift that gets the Internet search giant out of the business of manufacturing smartphones.

Google shares rose 2.6% to $1,136 in after-hours trading on optimism that the company is shedding a business that has dragged on its earnings. Motorola lost more than $1 billion in the year ended Sept. 30 as revenue slumped 34%.

"This was an under-performing asset and was always a stretch for them," said Mark Mahaney, an analyst at RBC Capital Markets. "They probably never should have gone into the handset business."

Lenovo is paying about $2.91 billion for Motorola: $660 million in cash, $750 million worth of Lenovo stock and $1.5 billion in the form of a three-year promissory note. Lenovo gets the Motorola brand and current and future products, such as the Moto X smartphone. It also gets more than 2,000 patents and the Motorola trademark portfolio.

The sale price is a lot lower than the $12.5 billion that Google agreed to pay for Motorola in late 2011, in its largest acquisition ever. However, Google is keeping most of Motorola's patents and is providing Lenovo a license for this portfolio and other intellectual property.

Google was attracted by Motorola's huge patent portfolio, but it also let Motorola develop new smartphones, such as the Moto X, which went on sale last year.

Sales of the new Motorola phones have not been strong, though, and there are signs of a broader slowdown in the smartphone market, where intense competition is making it more difficult to make a profit from just manufacturing the hardware.

"Google got what they wanted and needed from Motorola — they got patents, engineering talent and mobile market insight," said Jack Gold, principal analyst at J. Gold Associates.

The Lenovo deal "gets them out of a business they don't have a chance of making any real money in, and gets them the ability to concentrate on real opportunities without the diversion of having to run a device manufacturing company," he added.

When Google makes its own smartphones, it creates potential conflict with smartphone makers such as Samsung Electronics and HTC, which also use Google's Android operating system to run their devices, Gold added. Selling Motorola eases this tension, he says.

"I think that was the plan all along — Google would milk Motorola for a couple of years, then sell it off," Gold said.

Google CEO Larry Page signaled that the company would be stepping back from the smartphone manufacturing business when the Lenovo deal closes.

"The smartphone market is super-competitive, and to thrive, it helps to be all-in when it comes to making mobile devices," he wrote in a company blog post Wednesday.

Motorola will do better as part of Lenovo, which is already the largest PC maker in the world, he added.

The sale will let Google focus on the continued development of the Android operating system, "for the benefit of smartphone users everywhere," Page also said.

The deal does not signal a larger shift in Google's hardware efforts, which include Glass smart eye-wear and the newly acquired Nest smart thermostat and smoke detector business, Page said.

"The dynamics and maturity of the wearable and home markets, for example, are very different from that of the mobile industry," Page added.

Google will keep selling its own Nexus smartphones and tablets, but these are manufactured by other companies, most recently LG and Asus.

Once a leading smartphone maker, Motorola's share of the U.S. market dropped to 5% in the fourth quarter, way behind Apple and Samsung, according to Consumer Intelligence Research Partners.

"While Android continues to dominate operating systems, Motorola did not achieve meaningful share," said Mike Levin of CIRP.

Google has already sold some of Motorola's other assets, such as its set-top box business. With the proceeds from those deals and the Lenovo sale, RBC's Mahaney reckons Google will end up paying several billion dollars for patent protection for Android.

In 2011, Apple's approach of integrated hardware and software was considered the best. Google might have also bought Motorola to give that approach a try. When it did not work out, the company sold.

"At the time, Apple was perceived to be doing everything correctly, but that has subsided somewhat," Mahaney said. "Google spent time realizing the challenges of running a handset manufacturing business and decided now is a good time to get out."

Page said Google acquired Motorola to help "supercharge" the Android ecosystem by creating a stronger patent portfolio.

"Motorola's patents have helped create a level playing field, which is good news for all Android's users and partners," he added.

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To: richardred who wrote (3447)1/31/2014 12:21:15 PM
From: richardred
   of 7071
RE- GFF - Earnings were out yesterday. About in line I'd say. Still holding onto some shares. I'm beginning to think this might be the year the company jettisons the defense and plastics division. A better chance to sell to willing buyers at an attractive price IMO. Both divisions would be better suited to bigger players. The company still wants to grow by niche acquisitions. IMO,To much long term debt for that. I still think they over paid for Ames True Temper. However, I think they did a nice job building onto the business and growing it. Clopay is a mainstays leader and already has been restructured. I think they with build on Ames. Paying closer attention for a possible add due to a possible catalyst mentioned.

P.S. To bad Huffy sold Ames/TT. Huffy/my biggest all time investment mistake.

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To: richardred who wrote (3390)2/3/2014 10:01:03 AM
From: richardred
   of 7071

Smith & Nephew to Buy U.S. Medical Device Maker

LONDON – Smith & Nephew of Britain said on Monday that it had agreed to acquire the medical device maker ArthroCare Corporation for about $1.7 billion in cash.

The British company said it would pay $48.25 a share for ArthroCare, representing a 20 percent premium over the 90-day volume weighted average price of ArthroCare’s shares before the deal was announced on Monday.

The deal will allow Smith & Nephew to cross-market products from the two companies through its global network and introduce ArthroCare’s products to additional markets and customers.

“This is a compelling opportunity to add ArthroCare’s technology and highly complementary products to further strengthen our sports medicine business,” said Olivier Bohuon, Smith & Nephew’s chief executive. “Together, we will be able to generate significant additional revenue from the more comprehensive portfolio, combined sales force and Smith & Nephew’s global footprint.”

The deal is expected to result in transaction expenses and integration costs of about $100 million, to be incurred over a three-year period.

The transaction is subject to regulatory and shareholder approval and is expected to close in mid-2014.

One Equity Partners, ArthroCare’s largest shareholder with convertible preferred shares equivalent to 17 percent of its equity, has agreed to support the transaction. ArthroCare’s board of directors is recommending that shareholders approve the deal.

The transaction will be financed from cash and Smith & Nephew’s debt facilities, including an existing $1 billion revolving credit facility and a new two-year $1.4 billion term loan facility.

Smith & Nephew also said it would suspended its share buyback program in light of the acquisition.

ArthroCare, based in Austin, Tex., employs about 1,800 people and reported net revenue of $368 million in 2012. About two-thirds of that revenue came from sport medicine products.

In January, ArthroCare agreed to pay $30 million and enter a deferred prosecution agreement to end an inquiry by the United States Justice Department related to claims of securities fraud by former members of its management.

JPMorgan Chase and Centerview Partners served as the financial advisers to Smith & Nephew, while Piper Jaffray and Goldman Sachs advised ArthroCare. The legal advisers were Davis Polk & Wardwell for Smith & Nephew and Latham & Watkins for ArthroCare.

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To: richardred who wrote (3605)2/3/2014 10:54:51 AM
From: richardred
   of 7071
Added to SUP today.

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To: richardred who wrote (3343)2/4/2014 8:46:44 AM
From: richardred
1 Recommendation   of 7071
Entegris Inc. (ENTG) agreed to acquire ATMI Inc. (ATMI) in a deal valued at $1.15 billion, combining suppliers of semiconductor materials to seek larger orders.

ATMI shareholders will receive $34 in cash for each share of common stock they own, the companies said in a statement today. The price represents a premium of 26.3 percent over ATMI’s closing price on Feb. 3.

Suppliers for the semiconductor industry are under pressure to merge because there are fewer big customers to go around. Manufacturers such as Samsung Electronics Co., Taiwan Semiconductor Manufacturing Co. and Intel Corp. increasingly dominate spending on equipment, reducing the number of major contracts available, according to Patrick Ho, an analyst for Stifel Nicolaus & Co.

In November, Danbury, Connecticut-based ATMI hired Barclays Capital to explore strategic options after demand for the company’s materials waned in some markets such as microelectronic wafers.

Entegris, a maker of liquid and gas filters and purifiers for the semiconductor industry, said today’s deal will immediately boost its adjusted earnings per share. The purchase is valued at $850 million when taking into account cash acquired, including net cash proceeds of $170 million from the sale of ATMI’s LifeSciences business, Entegris said.

Entegris rose 9 percent to $11.21 in early trading, while ATMI jumped 26 percent to $34.01. Entegris advanced 26 percent last year, and ATMI added 45 percent.

ATMI Chief Executive Officer Douglas Neugold had been working to cut costs after facing a shrinking customer list. Income from continuing operations in the fourth quarter fell 46 percent to $6.4 million, the company said in separate statement today.

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To: richardred who wrote (3499)2/4/2014 9:38:04 AM
From: richardred
   of 7071
RE:BRKS speculation
Will today's acquisition of ATMI stir up a competitors interests in the field? IMO DHR and A will be shopping before long.
Message 29133249

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To: richardred who wrote (3474)2/4/2014 11:58:14 AM
From: richardred
   of 7071

Very interesting superbowl commercial and in my iconic brands name list. Best Buy turned around quite nicely and has since pulled back. RSH stock is still saying prove it. Still no interest as an investment IMO the SB ad showed they realize they do have an identity problem with the new generation. The Trekkies generation waning.

<blockquote class="twitter-tweet" lang="en"><p>Acclaimed Hedge Fund Manager Takes Big Stake in RadioShack Corporation Stock (RSH): <a href=""></a> via <a href="">@themotleyfool</a></p>— Richard - richardred (@rreding1) <a href="">January 22, 2014</a>
<script async src="//" charset="utf-8"></script>
<img src="Acclaimed Hedge Fund Manager Takes Big Stake in RadioShack Corporation Stock (RSH): via @themotleyfool

— Richard - richardred (@rreding1) January 22, 2014 ">

By Jeff Macke 3 hours ago Breakout

“The 80s called. They want their store back.”

During a game that called to mind the decade where the Denver Broncos got blown out of three Super Bowls, the funniest ad came from a company that has been struggling to turn itself around for more than 25 years. RadioShack’s ( RSH). The “ In With the New” spot hit the bulls-eye with cameos from Hulk Hogan, Mary Lou Retton and even Alf. Unfortunately it’s going to take more than Generation X nostalgia and self-deprecation to change the fortunes of a company still best known for selling remote control toys, Boom Boxes and speaker wire.

It’s a triumph of perseverance that RadioShack has made it this long. A physical retailer selling consumer electronics, the Dallas-based company has been tweaking its stores and trying to recreate its image since the early 90s when it was still selling Tandy computers. Unfortunately the efforts have never been exactly right. Half-hearted efforts to take on Best Buy ( BBY) with initiatives like opening enormous Incredible Universe electronics warehouses and trying to rebrand itself as The Shack have never been able to get anything going with customers and build any turnaround momentum.

RadioShack’s core problem is simple: it sells consumer electronics out of physical stores in the age of the Internet. Whether it’s fax machines, build-it-yourself computers, or speaker wire, the products the company is known for either don’t exist or have been shrunk down and stuck in your cellphone. Not all the clever ads in the world can change the uncomfortable fact that RadioShack’s business model is out of synch with modern customers.

RadioShack has caught lighnting in a bottle with its throwback commercial. They’ve gotten Wall Street and shoppers to pay attention to them again, if only for a moment. Unfortunately when customers actually go to the stores they’ll find that most RadioShack locations look “retro” in the worst possible way. A clever campaign may be enough to generate a little publicity, but over the long-haul those investing looking for a RadioShack turnaround are going to be left crying “Where’s the beef?”

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