Industry News

SpiceJet to deposit Rs.580 crore with the court in a case filed by Kalanithi Maran and his Kal Airways Pvt. Ltd regarding a share transfer dispute. Additionally, the Delhi High Court asked both the parties to consider arbitration proceedings to resolve the dispute."/>
Delhi HC asks SpiceJet to deposit Rs580 crore in dispute with Kal Airways [Mint, New Delhi]
Escorts Ltd's stock gained 2% on Thursday after the company reported a stronger-than-expected performance for the June quarter. Revenue increased 9% from a year ago. Operating and net profit jumped 52% and 33.5%, respectively, as low raw material costs boosted profitability."/>
Escorts shines in Q1, demand revival is key [Mint, New Delhi]
Pentair PLC saw profits slip in the second quarter but still beat Wall Street expectations. The pump and filtration maker also signaled slight improvements in the ailing oil and gas sector but ongoing trouble in the agriculture equipment industry. Officials at the maker of industrial and residential pumps, filters, valves and more said Thursday that they are beginning to get calls and orders from oil customers who have long deferred maintenance projects."/>
Pentair PLC beats 2Q expectations but narrows guidance for year [Star Tribune (Minneapolis)]
American Railcar Industries in the second quarter, as demand for railroad cars fell. Net income was $19.9 million, or $1.02 per share in the quarter, compared to $33.0 million, or $1.54 per share, a year earlier. Manufacturing revenues fell 32 percent as the St."/>
BRIEF: Profits drop at American Railcar [St. Louis Post-Dispatch]
Kaman Corp. posted lower second-quarter profits Thursday due to acquisition costs and in comparison with the same period last year when the Bloomfield aerospace and industrial systems manufacturer reported a tax benefit. Net earnings of $16.5 million were down 24 percent. Analysts surveyed by Bloomberg expected adjusted net income for the quarter ended July 1 at $17.8 million."/>
Kaman Corp. Profits Decline In Second Quarter [The Hartford Courant]
Capital Bank as well as Guardian Mortgage Co.."/>
First National Bank merges with regional banking operation in Kansas [The Santa Fe New Mexican]
Owens Corning and Finnish materials company Ahlstrom have terminated a deal under which OC would acquire Ahlstrom's building and wind business, the companies said. The companies said they terminated the agreement following challenges associated with obtaining regulatory clearance in Germany for the transaction. Ahlstrom said it will continue to operate and develop the Building and Wind business unit as before and it will be reported as..."/>
Owens Corning Terminates Deal to Acquire Finnish Fibre Firm Ahlstrom’s Building and Wind Business
GOL announces management reorganization
Raytheon Co. rose Thursday after the company reported a 41 percent jump in second-quarter profits, beating analyst estimates on a one-time gain and stronger sales. The company's Tucson-based Missile Systems unit posted a 6 percent increase in second-quarter sales and a 21 percent jump in operating income, driven mainly by higher sales of Paveway guided-bomb systems. The Waltham, Massachusetts-based parent company reported..."/>
Raytheon 2Q profit jumps, company raises outlook [The Arizona Daily Star, Tucson]
Eaton Corporation plc. Investors who purchased or otherwise acquired shares between November 13, 2013 and July 28, 2014 inclusive, are encouraged to contact the Firm prior to the September 23, 2016 lead plaintiff motion deadline.. If you purchased shares of Eaton during the Class Period, please contact Joon M. Khang, Esquire, of Khang& Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612,..."/>
IMPORTANT INVESTOR ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Eaton Corporation plc and Encourages Investors with Losses to Contact the Firm
YRC Worldwide Inc. collected less revenue but earned a larger profit in the recently ended second quarter, thanks to gains on the sale of some properties. YRC's profit of $27.1 million equaled 83 cents a share, compared with $26 million, or 80 cents a share, a year ago. The total included $11.1 million gained from selling properties during the quarter, compared with only $700,000 in gains in the quarter a year ago."/>
BRIEF: YRC Worldwide profits disappoint management despite increase [The Kansas City Star]
VSE Corporation reported the following unaudited consolidated financial results for the second quarter of 2016.. “We are beginning to see revenue momentum driven by organic growth in our Federal Services Group,” said Maurice“ Mo” Gauthier, VSE CEO.“ We have begun work on our recently awarded logistics and maintenance contract at Red River Army Depot and the transfer of two frigates to Taiwan under our FMS..."/>
VSE Reports Financial Results for Second Quarter 2016
Krispy Kreme Doughnuts, Inc. has closed the acquisition of US-based investment company JAB Beech Inc. for USD 21 per share in cash, or a total equity value of approximately USD 1.35 bn, the company said. JAB Beech is an indirect controlled subsidiary of JAB Holding Company in which BDT Capital Partners is a..."/>
M and A Navigator: Deal pipeline –28 July

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