Brenton's Feed
Oct 25, 2011

Volatility hits 3 more U.S. asset managers

By Brenton Cordeiro

(Reuters) – U.S. asset managers including T. Rowe Price Group (TROW.O: Quote, Profile, Research, Stock Buzz) posted quarterly results that failed to impress investors, as market turmoil in Europe and economic uncertainty at home continued to hurt the companies.

All three companies — T. Rowe, Affiliated Managers Group Inc (AMG.N: Quote, Profile, Research, Stock Buzz) and Waddell & Reed Financial Inc (WDR.N: Quote, Profile, Research, Stock Buzz) — that reported on Tuesday saw a fall in assets under management (AUM) from the prior quarter.

Oct 19, 2011

Zeltiq’s debut blows life into U.S. IPO market

By Brenton Cordeiro

(Reuters) – Zeltiq Aesthetics Inc (ZLTQ.O: Quote, Profile, Research, Stock Buzz), which developed a procedure called “CoolSculpting” that helps people get rid of “love handles,” saw its shares rise 24 percent in their market debut, indicating investors may be returning to the U.S. IPO market.

Zeltiq — the second company to go public in the United States in recent weeks — priced its IPO at $13 a share, below the previously expected range of $14-$16 apiece.

Oct 5, 2011

Buy or Sell: For Allied World, is no deal a better deal?

By Brenton Cordeiro

(Reuters) – Allied World Assurance Co Holdings Ltd’s (AWH.N: Quote, Profile, Research, Stock Buzz) withdrawal from a bidding race for Transatlantic Holdings (TRH.N: Quote, Profile, Research, Stock Buzz) may have cost it the chance to beef up its portfolio, but a nimbler Allied may be better able to navigate choppy markets.

Zurich-based Allied’s stock has fallen about 7 percent since it first bid for Transatlantic in mid-June. Its shares currently trade at a 33 percent discount to their book value.

Oct 5, 2011

For Allied World, is no deal a better deal?

Oct 5 (Reuters) – Allied World Assurance Co Holdings Ltd’s
withdrawal from a bidding race for Transatlantic
Holdings may have cost it the chance to beef up its
portfolio, but a nimbler Allied may be better able to navigate
choppy markets.

Zurich-based Allied’s stock has fallen about 7 percent since
it first bid for Transatlantic in mid-June. Its shares currently
trade at a 33 percent discount to their book value.

Oct 3, 2011

ACI to buy S1 for $516 mln in cash, stock

Oct 3 (Reuters) – Financial technology provider ACI
Worldwide Inc scooped up smaller
rival S1 Corp for $515.9 million ,
after sweetening the deal for the
third time in three months .

The deal will help ACI broaden its product
offering and compete more strongly with
other mid-tier financial technology companies like
Jack Henry & Associates , DST Systems and
Fundtech .

Sep 30, 2011

Payment processor Visa Argentina for sale -sources

Sept 30 (Reuters) – Visa Argentina, a payment processor
owned by a group of banks including Banco Santander Rio SA
(RIO.BA: Quote, Profile, Research, Stock Buzz), is for sale and could fetch more than $500 million,
sources familiar with the situation said.

Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) is advising on the auction, which is
still in the early stages, the sources said.

Sep 30, 2011

Dealtalk: ACI will have to dig deeper to win rival S1

By Brenton Cordeiro and Tanya Agrawal

(Reuters) – Financial software maker ACI Worldwide Inc (ACIW.O: Quote, Profile, Research, Stock Buzz) will have to raise its bid for smaller rival S1 Corp (SONE.O: Quote, Profile, Research, Stock Buzz) after twice being rejected by S1 and most recently failing to generate much interest with a hostile bid.

S1 continues to urge its shareholders to resist ACI’s tender offer,which had by Wednesday garnered nearly 13 million shares — around a quarter of S1′s outstanding stock. ACI has extended that offer to end-October.

Sep 30, 2011

ACI will have to dig deeper to win rival S1

Sept 30 (Reuters) – Financial software maker ACI Worldwide
Inc will have to raise its bid for smaller rival S1
Corp after twice being rejected by S1 and most recently
failing to generate much interest with a hostile bid.

S1 continues to urge its shareholders to resist ACI’s tender
offer, which had by Wednesday garnered nearly 13
million shares — around a quarter of S1′s outstanding stock.
ACI has extended that offer to end-October.

Sep 21, 2011

Heartland Payment sees growth in market share, margins

By Brenton Cordeiro

(Reuters) – Payment processor Heartland Payment Systems Inc (HPY.N: Quote, Profile, Research, Stock Buzz) sees scope for growing its market share and margins at a time when the sluggish U.S. economy is expected to hurt its larger rivals.

The company, which competes with JPMorgan Chase’s (JPM.N: Quote, Profile, Research, Stock Buzz) Chase Paymentech, KKR’s (KKR.N: Quote, Profile, Research, Stock Buzz) First Data and Global Payments (GPN.N: Quote, Profile, Research, Stock Buzz), caters mainly to small and mid-size merchants, who are doing better even as larger retail chains struggle with a cutback in consumer spending.

Sep 15, 2011

Fundtech drops S1 for ‘superior’ PE offer

Sept 15 (Reuters) – Israel’s Fundtech Ltd
dropped S1 Corp’s proposal after receiving a “superior” all-cash
offer from private-equity firm GTCR, leaving S1 with few options
but to consider ACI Worldwide’s bid for the company.

S1, which has reiterated its stand to merge with Fundtech,
may find it tough to come up with a better offer due to lack of
support from its shareholders who are likely to be swayed by the
large premium that bigger rival ACI is offering.

    • About Brenton

      "I’m currently Editor-in-Charge for UK company news in Bangalore, overseeing the coverage of mid-cap and small-cap UK companies. Previously, I was the Deputy Editor-in-Charge of the Headline News team in Bangalore, which is responsible for sending news alerts for all the major publicly listed companies in North America. I also worked with the finance team in Bangalore covering IPOs, and mid-cap and small-cap U.S. financial companies."
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