Welcome to John Ransom’s Stocks in the News where the headlines meet the trendlines.
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Stock number one: Hittite Microwave Corporation
Analog Devices Bids $2B for Hittite Microwave—The Street.com
Semiconductor company Analog Devices (ADI_) said Monday it would acquire rival Hittite Microwave (HITT_) in a $2 billion deal that would boost its radio frequency and signal conversion chip offerings. Terms of the deal call for Analog to pay $78 per share for Chelmsford, Mass.-based Hittite, a premium of 28.8% over the target's $60.56 Friday close.
Symbol: HITT
Trailing PE: 35; Forward PE: 23
PEG: 0.08
Dividend: 1.00
Estimate Trend: Flat
Ransom Note Trendline: Sell Hittite
Stock number two: Staples, Inc.
Business Interiors by Staples and Metropolis Magazine Announce Second Annual Workplace of the Future Design Competition--Business Wire
Students, emerging designers and industry professionals can architect their vision for the workplace of the future in a competition hosted by Business Interiors by Staples, the furniture and interior design division of Staples Advantage, and Metropolis, the magazine of architecture, culture and design. The second annual contest, Workplace of the Future 2.0, starts July 1, 2014 with a call for entries that invites architects and designers to submit concepts that depict how the workplace will change in the next 10-15 years.
Symbol: SPLS
Trailing PE: NA; Forward PE: 11
PEG: -9.72
Dividend: NA (Div Cut)
Estimate Trend: Flat
Ransom Note Trendline: Sell Staples
Stock number three: Pilgrim's Pride Corporation
Tyson knocks Pilgrim's out of Hillshire bidding with new offer--Fly on the Wall
Shares of food processor and distributor Hillshire Brands (HSH) are rising after Tyson Foods (TSN) submitted an increased offer to acquire the company, prompting rival Pilgrim's Pride (PPC) to withdraw its own takeover proposal. WHAT'S NEW: Tyson submitted a unilaterally binding offer to acquire all outstanding shares of Hillshire for a price of $63 per share in cash.
Symbol: PPC
Trailing PE: 11; Forward PE: 15
PEG: 1.57
Dividend: NA
Estimate Trend: Flat
Ransom Note Trendline: Avoid Pilgrim’s Pride
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