NEW YORK / ACCESSWIRE / June 03, 2014 / Market Buzz Report, which provides up to date coverage, commentary and alerts on OTC and NASDAQ Stocks, issues critical stocks analysis for Broadcom Corporation, Groupon Inc, EveryWare Global, American Realty Capital Healthcare.
American Realty Capital Healthcare Trust, Inc. (NASDAQ:HCT)’s shares climbed 9.65% to $10.91. Ventas, Inc. (VTR) and American Realty Capital Healthcare Trust, Inc. on June 2 announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which Ventas will acquire all of the outstanding shares of ARC Healthcare in a stock and cash transaction valued at $2.6 billion, or $11.33 per ARC Healthcare share, solidifying Ventas’s position as the global leader in senior living and medical office buildings. In the transaction, ARC Healthcare shares will generally be converted into a fixed number of Ventas shares, based upon a negotiated Ventas stock price of $67.13.
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Broadcom Corporation (NASDAQ:BRCM)’s shares jumped 9.32% to $34.84. The company on June 2 announced it is exploring strategic alternatives for its cellular baseband business, including a potential sale or wind-down. The company has engaged investment bank JP Morgan in connection with its efforts. The successful sale or wind-down of the cellular baseband business is currently expected to result in a roughly $700 million reduction in annualized GAAP research and development and selling, general and administrative expenses, of which approximately $100 million relates to estimated reductions in stock-based compensation.
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Additionally, Brean Capital increased its price target on Broadcom’s shares after the company announced that it was exploring strategic alternatives for its cellular baseband business. The firm expects BRCM's EPS to be boosted by 21c as a result of exit and it keeps a Buy rating on the stock.
EveryWare Global, Inc. (NASDAQ:EVRY)’s stock surged 58.18% to $1.74. The company on May 31 announced that it entered into a Forbearance Agreement with the administrative agent and certain other lenders under the Company's Term Loan Agreement. In addition, EveryWare entered into an amendment to the Company's asset back loan ("ABL") agreement with the lenders under its ABL facility.
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The Company also announced it intends to partially reopen its Monaca, Pennsylvania facility. The Forbearance Agreement provides that the lenders under the Term Loan Agreement will forbear from exercising their rights and remedies under the Term Loan Agreement with respect to the events of default that occurred as a result of the Company's failure to comply with the maximum consolidated leverage ratio covenant and the minimum interest coverage ratio covenant for the fiscal quarter ended March 31, 2014.
Groupon Inc (NYSE:GRPN)’s shares dropped 6.46% to $5.50. The company on June 2 launched its Father’s Day Gift Shop at http://www.groupon.com/fathers-day, complete with fishing trips, tools, restaurant deals, electronics and a contest to win a trip to Ireland to enjoy the majesty and lush landscape of the Emerald Isle and tour a world-famous brewery. No one in the average American household wields more at-the-ready adages than Dad.
Additionally, In an effort to make sustainability more affordable than ever, Groupon and SolarCity have created the first online offer of its kind for solar power systems. Groupon (GRPN) will work with SolarCity (SCTY), the nation's largest solar power provider, to offer deals on solar systems in the Groupon marketplace. SolarCity makes it possible for many homeowners to pay less for solar electricity than they pay for utility power. For a limited time, customers can benefit from additional savings with a deal from Groupon by paying $1 for $400 off home solar power.
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SOURCE: Market Buzz Report