Stocks to Watch: American Dental Partners, Force Protection
NEW YORK (TheStreet) -- American Dental Partners (ADPI) said it agreed to be bought by funds affiliated with private-equity firm JLL Partners for $19 a share in cash, representing a premium of 83% over American Dental's closing price on Friday. The total value of the deal is roughly $398 million.
American Dental also reported third-quarter earnings of 27 cents a share, beating the Wall Street consensus target of 23 cents.
Shares were surging 79.2% to $18.60.
Specialty vehicles provider Force Protection (FRPT) agreed to be bought by combat vehicle manufacturer General Dynamics (GD) for $5.52 a share, or roughly $360 million. Shares were soaring 33% to $5.60.
Mobile broadband company Tekelec (TKLC) agreed to be bought by a consortium led by Siris Capital for about $780 million. Under the deal, Tekelec's stock will be acquired for $11 a share in cash, representing an 11% premium over its closing price on Nov. 4. Tekelec also reported third-quarter profit of 19 cents a share, beating estimates by a penny. Shares were surging 9.9% to $10.88.
BP's (BP) planned $7.1 billion sale of a stake in Pan American Energy to Cnooc (CEO) has fallen apart. Bridas Corp., which is owned by China's Cnooc, and by the Bulgheroni family of Argentina, said late Saturday it scrapped the transaction, citing legal reasons and BP's behavior during deal talks. BP, in a statement, said its financial condition has improved significantly over the past year and that it will keep its stake in Pan American Energy. BP was falling 1.3% to $43.27.
Pay TV provider DISH Network (DISH) reported third-quarter profit of 71 cents a share, missing the average analyst estimate by 2 cents. Shares were down 0.9% to $23.28.
Barnes & Noble (BKS) on Monday is expected to unveil a new tablet device and could cut the price of its Nook Color, according to reports. The bookseller plans a "very special announcement" for Monday. Barnes & Noble's new tablet device is a response to Apple's (AAPL) iPad and Amazon's (AMZN) Kindle Fire. Apple shares were flat at $399.88 and Amazon shares were lower by 0.2% to $216.
Carphone Warehouse, the U.K. cell phone retailer, on Monday said it plans to sell its stake in a U.S. mobile phone venture to its partner Best Buy (BBY) for $1.34 billion. Best Buy shares were flat at $27.29.
Berkshire Hathaway (BRK.A) reported a drop of 24% in third-quarter profit on sharp declines in the value its equity derivative contracts.
Earnings reports also are expected Monday from Sysco (SYY) and Louisiana-Pacific (LPX). -- Written by Joseph Woelfel and Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV