Stocks Rebound to Close Modestly Lower; HP Surges 17%
Timken Co
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The "Fast Money" traders share their final trades of the day.
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May 7- Timken Co shareholders backed an activist investor's proposal to split the steel and ball-bearing maker in two, and the company said its board would make a decision by late June.
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May 7- Timken Co shareholders backed an activist investor's proposal to split the steel and ball-bearing maker in two, and the company said its board would make a decision by late June.
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May 7- Timken Co's shareholders voted on Tuesday to spin off the company's steel business. Investment firm Relational Investors LLC and the California State Teachers' Retirement System have been pushing the steel and ball-bearing maker to split, saying two companies would have a combined market capitalization larger than the current one.
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May 7- Timken Co's shareholders voted on Tuesday to spin off the company's steel business. Investment firm Relational Investors LLC and the California State Teachers' Retirement System have been pushing the steel and ball-bearing maker to split, saying two companies would have a combined market capitalization larger than the current one.
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*The Timken Company announces voting results of annual meeting of shareholders. *Says at the meeting, shareholders re-elected all 12 members of the board of. directors to new one-year terms.
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**Germany's Hochtief AG has agreed to the 1.1 billion euros sale of its airports division, ending a lengthy quest for a buyer and giving fresh impetus to a strategy rethink led by its CEO appointed just six months ago.
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May 7- Almost half of Timken Co's shareholders backed an activist investor's drive to split the steel and ball-bearing company into two, and the board said it would decide by late June whether to proceed.
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If you’re one of those glass half full kinds of people, you might want to consider this stock.
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April 30- Cummins Inc reported a sharper-than-expected drop in first-quarter earnings on Tuesday, citing weak demand for its turbines and engines, especially from the mining and oil and gas industries. Last week, Caterpillar Inc posted disappointing quarterly results and cut its 2013 profit forecast.
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*Caterpillar Inc, Kennametal, Oshkosh corp, Timken. Co: Longbow Research raises to buy from neutral. *Parker Hannifin Corp: Longbow Research raises to neutral from.
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NEW YORK, April 25- Proxy advisory firm Glass Lewis said Timken Co shareholders should vote for a non-binding proposal to break up the company's ball-bearings and steel businesses. The break up was proposed by activist hedge fund Relational Investors and the California State Teachers' Retirement System.
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NEW YORK, April 25- Proxy advisory firm Glass Lewis said Timken Co shareholders should vote for a non-binding proposal to break up the company's ball-bearings and steel businesses. The break up was proposed by activist hedge fund Relational Investors and the California State Teachers' Retirement System.
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CHICAGO, April 24- Timken Co reported a sharply lower first-quarter profit on Wednesday, citing weak demand from most of its customers, including the oil and gas industry. But orders picked up toward the end of the quarter, giving the company confidence that it will meet its full-year earnings forecast of $3.75 to $4.05 per share, Timken said.
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CHICAGO, April 24- Timken Co reported on Wednesday a sharply lower first-quarter profit, citing lower demand from most of its customers, including the oil and natural gas industry.
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*Q2 op profit 1.48 bln SEK vs forecast 1.54 bln. STOCKHOLM, April 17- Industrial bellwether SKF Inc, the world's biggest bearings maker, expects demand to stay flat in the next few months before an improvement in conditions in some of its major markets emerges later in the year.
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Here’s our Fast Money Final Trade. The Fast gives you tomorrow’s best trades, right now.
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Aggressive shareholders such as Carl Icahn, Nelson Peltz and Ralph Whitworth, who agitate for change at companies they believe to be sub-par, are increasingly getting a hearing with institutions ranging from the most staid mutual fund to the state-run pension fund.
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Institutional investors, who used to shun activist investors and side with a company's management on most controversial issues, are starting to change their tune.
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Last November, CalSTRS teamed up with Ralph Whitworth's Relational Investors LLC to urge for a breakup of diversified manufacturer Timken Co, the first time the California pension plan has participated in this kind of activism.
