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  • 10/17/2017 15:09:51

    BRIEF-Viking Therapeutics files for sale of up to 6.9 mln shares by selling stockholder

    * Viking Therapeutics Inc files for sale of up to 6.9 million shares of co's common stock by selling stockholder Lincoln Park Capital Fund Llc‍‍​ - SEC filing Source text: (http://bit.ly/2x3eVPr) Further company coverage:

  • 10/17/2017 06:15:15

    Synchronoss's stock shoots up after subsidiary sale, equity investment

    Shares of Synchronoss Technologies Inc. shot up 14% in premarket trade Tuesday, after the software company announced a deal to sell a subsidiary and receive another equity investment from its largest shareholder. The company said that after completing a review of strategic alternatives, it decided to sell its wholly-owned subsidiary Intralinks Holdings Inc. to private-equity firm Siris Capital Group LLC for $1 billion. As part of the agreement, Siris will make a $185 million investment in convertible preferred equity of Synchronoss, which would be convertible into 19.8% of Synchronoss's shares outstanding. Recent filings show Siris Capital was Synchronoss's largest shareholder with a stake of 6.0 million shares, or 12.9% of the shares outstanding as of Oct. 5, according to FactSet. The deal with Siris will allow Synchronoss to focus on its core communications and media business. The stock had plunged 64% year to date through Monday, while the SPDR Technology Select Sector ETF had climbed 26% and the S&P 500 had rallied 14%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/16/2017 15:36:49

    LiveXLive seeks to raise up to $123.8 million in IPO

    LiveXLive Media Inc. plans to raise up to $123.8 million in its initial public offering, according to a Securities and Exchange Commission filing late Monday. The Beverly Hills, Calif.-based live-music video content site said will offer 7.7 million shares at $12 to 14 apiece, with underwriters getting an additional 1.2 million shares to cover overallotments. BMO Capital markets is listed as the sole book-running manager. The company plans to list with the ticker "LXL" on the New York Stock Exchange. LiveXLive reported 2016 revenue of $36.7 million and a net loss of $6.6 million, or $10.5 million to common shareholders.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/16/2017 09:17:52

    Sears' stock tumbles after CIO of large shareholder steps down from board

    Shares of Sears Holdings Corp. plunged 12% in active morning trade Monday, putting it on track to close at an 8-month low. The struggling department store chain said that Bruce Berkowitz, chief investment officer of investment advisor Fairholme Capital Management LLC, was stepping down from its board of directors at the end of the month. Fairholme Capital controlled 28.9 million Sears shares as of June 30, which would make it the second-largest shareholder with 26.9% of the shares outstanding. The stock has now erased virtually all the gains it has made since it announced a $1 billion restructuring in early February. The stock has now lost 26% over the past three months, while the SPDR S&P Retail ETF has lost 0.4% and the S&P 500 has gained 3.9%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/13/2017 08:33:03

    OptiNose shares surge 22% in their stock market debut

    Shares of OptiNose Inc. surged more than 20% in the first ten minutes of trading on the Nasdaq Friday, as the maker of products for ear, nose and throat conditions made its stock market debut. The stock was last up $2.57, or 16%, at $18.57. OptiNose priced its initial public offering late Thursday at $16 a share, the midpoint of its $15 to $17 range, according to Renaisannce Capital, an IPO investment manager. The company, which has developed a nasal spray treatment for chronic rhinosinusitis, offered 7.5 million shares to raise $120 million, after increasing the offer from an original plan to sell 6.3 million shares. Shares are trading on the Nasdaq under the ticker symbol "OPTN." Jefferies, Piper Jaffray, BMO Capital Markets and RBC Capital Markets were lead managers on the deal. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/13/2017 07:36:02

    OptiNose prices IPO at $16 a share, midpoint of price range

    OptiNose Inc. priced its initial public offering late Thursday at $16 a share, the midpoint of its $15 to $17 range, according to Renaisannce Capital, an IPO investment manager. The company, which has developed a nasal spray treatment for chronic rhinosinusitis, offered 7.5 million shares to raise $120 million, after increasing the offer from an original plan to sell 6.3 million shares. Shares will start trading on the Nasdaq later Friday under the ticker symbol "OPTN." Jefferies, Piper Jaffray, BMO Capital Markets and RBC Capital Markets were lead managers on the deal. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/04/2017 14:13:49

    Immunogen shares fall after secondary share offering announced

    Immunogen Inc. shares fell in the extended session Wednesday after the biotech company announced a secondary offering of shares. Immunogen shares fell 10% to $7.05 after hours. The company said it plans to offer 13 million shares, and provide underwriters with up to 2 million shares to cover overallotments. Jefferies, Leerink Partners and RBC Capital Markets are listed as underwriters. Immunogen intends to use proceeds to finance research and development, clinical trials and for other corporate purposes. Immunogen has 115.5 million shares outstanding.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/03/2017 06:35:45

    Optinose to sell 6.25 million shares at $15 to $17 a pop in IPO

    Specialty pharma company Optinose on Tuesday outlined the terms of its planned initial public offering. The company, which specializes in products for ear, nose and throat and allergies, said it plans to sell 6.25 million shares priced at $15 to $17 each. Jefferies, Piper Jaffray, BMO Capital Markets and RBC Capital Markets are underwriters on the deal. The company is planning to list on the Nasdaq under the ticker symbol "OPTN." The company is planning to use the proceeds of the IPO to suppor the launch of Xhance for the treatment of chronic sinusitis, for working captial and general corporate purposes. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/18/2017 06:45:41

    Applied Materials' stock rallies after RBC raises rating, price target

    Shares of Applied Materials Inc. rallied 1.4% in premarket trade Monday, after the chip equipment company was upgraded at RBC Capital, which was upbeat about the company's wafer front end (WFE) business. Analyst Amit Daryanani raised the rating to outperform from sector perform and boosted the price target to $55 from $48. Daryanani said that with about 34% of revenue coming from display and services, Applied Materials is better positioned to deal with WFE cyclicality compared with its peers. "While we understand cyclical concerns, we think current WFE levels are sustainable for a longer time frame" given a material shift in capital intensity, which should allow the company to guide fiscal 2020 earnings per share to above $4.00 at the analyst day scheduled for Sept. 27. The stock has run up 9.4% over the past three months through Friday, while the PHLX Semiconductor Index has climbed 7.4% and the S&P 500 has gained 2.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/15/2017 05:11:32

    Teekay Tankers sets $45 million program to buyback shares

    Teekay Tankers Ltd. said Friday it has launched a $45 million stock repurchase program. At Thursday's stock closing price of $1.44, the program would allow the company to buy back 31.25 million shares, which represents 19% of the shares outstanding. "This program is being put in place as another lever to create shareholder value, allowing us to opportunistically take advantage of dislocations in the capital markets when we have excess capital," said Chief Executive Kevin Mackay. The stock, which was inactive in premarket trade, has tumbled 36.3% year to date, while the S&P 500 has gained 11.5%. Separately, the tanker operator has entered into an agreement with its second largest shareholder, Huber Capital Management LLC, in which Huber will vote its shares in favor of increasing the authorized number of shares outstanding to permit more issuance so the company can complete its proposed merger with Tanker Investments Ltd.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/30/2017 13:42:00

    H&R Block shares slide 8%; management declines to offer update of plans on earnings call

    Shares of H&R Block Inc. slid 8% Wednesday to lead S&P 500 decliners, after the tax preparer failed to offer a full update of strategy or plans for the 2018 tax season on its earnings conference call. The company late Tuesday posted a slightly wider-than-expected loss for its fiscal first quarter. H&R Block said it lost 63 cents a share, against a 62 cents-a-share consensus. Revenue rose 10% to $138 million, primarily on increased U.S. assisted tax preparation fees and revenues from the company's Peace of Mind service plan. Analysts polled by FactSet had expected sales of $129 million. The first quarter typically represents less than 5% of annual revenues and less than 15% of annual expenses. Interim CEO Thomas Gerke welcomed new CEO Jeff Jones, who was appointed last week to take the helm in October. But he said the company's strategy remains unchanged, and declined to offer detailed guidance for the next tax season. Analyst Jeffrey Silber at BMO Capital Markets said the numbers were in line in a seasonally light quarter. "We would not read too much into these results," he said in a note late Tuesday. Shares have gained about 17% in 2017, while the S&P 500 has gained about 10%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/21/2017 05:20:01

    Build-A-Bear completes strategic review, to buy back $20 million of its own shares

    Build-A-Bear Workshop Inc. said Monday it has concluded a review of its strategic alternatives and decided to buy back up to $20 million of its own shares. "Adoption of the share repurchase program reflects our belief that our stock represents an attractive investment opportunity," Chief Executive Sharon Price John said in a statement. The company has returned to sustained profitability and has strong cash flow and a flexible capital structure, she said. "We believe Build-A-Bear Workshop will have the capacity to repurchase our stock while still deploying capital to facilitate the attainment of our next stated objective of sustained profitable growth," she said. The strategic review was comprehensive, she said, without providing details. Build-A-Bear has about 400 stores worldwide where children and adults can create and dress their own toy bears. Shares were not active premarket, but have fallen 37% in 2017, while the S&P 500 has gained 8.3%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/18/2017 15:44:08

    BRIEF-RXi Pharmaceuticals files for sale of up to 7.3 mln shares

    * RXi Pharmaceuticals Corp- files for sale of up to 7.3 million shares of common stock by Lincoln Park Capital Fund Llc - SEC filing‍​ Source text: (http://bit.ly/2vQLno4) Further company coverage:

  • 08/17/2017 17:55:58

    Energy Capital Partners nears $17 billion deal to buy Calpine: report

    Calpine Corp. shares shot up more than 9% in after-hours trading late Thursday after a Wall Street Journal report that Energy Capital Partners is closing in on a $17 billion deal to acquire it. Energy Capital, a private-equity firm specializing in energy infrastructure, would pay $15.25 a share for the power-generating company, sources told the Journal, which would value Calpine at $5.5 billion. Including debt, the deal would be valued at about $17 billion, the Journal said, and may be announced as soon as Friday. Calpine is known mostly for its natural-gas power plants, and provides power for about 6.5 million residential customers across the U.S. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/17/2017 08:01:58

    ADP's stock could more than double in less than 4 years, Ackman's Pershing Square says

    Shares of Automatic Data Processing Inc. could more than double in less than four years, if the payroll services company fulfill's its potential, according to hedge fund Pershing Square Capital Management, which is run by billionaire activist investor Bill Ackman. In a presentation to investors, Pershing said the value of ADP's stock, which was down 1.4% at $109.54 in morning trade, can rise to $221 to $255 a share by June 21, with "not changes in the credit rating, capital structure, dividend policy, or clients funds investment strategy." Pershing said ADP's "buy" instead of "build" strategy has led to weak product offerings, most notably in enterprise, and inefficient legacy back-end infrastructure. "ADP's focus on 'hitting the numbers' has led to value-destructive decisions with negative long-term consequences," Pershing wrote in the presentation. ADP diclosed earlier this month that Pershing, which owns 36.8 million ADP shares, or an 8.3% stake, was seeking to take five board seats and change the CEO. In an interview on CNBC last week, ADP CEO Carlos Rodriguez called Ackman "a spoiled brat." stock has gained 22% over the past 12 months, while the S&P 500 has rallied 13%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/15/2017 09:33:56

    Transocean's stock hits all-time low after $3.4 billion deal to buy Norway's Songa Offshore

    Shares of Transocean Ltd. tumbled 6.3% in active midday trade Tuesday, after the oil services company announced a stock an agreement valued at $3.4 billion, including debt, to buy Norway's Songa Offshore in a stock and convertible debt deal. Volume reached 25.4 million shares, already well above the full-day average of 16.2 million shares. The stock hit an all-time intraday low of $7.55 earlier in the session before paring some losses. Under terms of the deal, Songa Offshore shareholders will receive consideration comprised of 50% newly issued Transocean common shares and 50% in bonds convertible into common shares. RBC Capital analyst Kurt Hallead expects Transocean to issue 128.2 million shares, including convertibles, to raise the total share count, or dilute current shareholders, by 32% to 524.7 million shares. Songa shares rocketed 29% to a 17-month high. Transocean's stock has plunged 47% year to date, while the VanEck Vectors Oil Services ETF has shed 33% and the S&P 500 has gained 10%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/14/2017 14:38:26

    BRIEF-Berkshire Hathaway takes share stake in Store Capital Corp

    Berkshire Hathaway Inc(BRK/A) : * Berkshire Hathaway (BRK/A) takes share stake of 18.6 million shares in Store Capital Corp (STOR) - sec filing‍​. * Berkshire Hathaway (BRK/A) cuts share stake in American Airlines Group Inc (AAL) by 4.6 percent to 47.0 million shares - sec filing‍​. * Berkshire Hathaway (BRK/A) cuts share stake in United Continental Holdings Inc (UAL) by 2.6 percent to 28.2 million shares - sec filing‍​. * Berkshir...

  • 08/10/2017 11:06:47

    PayPal acquires small-business lender Swift Financial for undisclosed sum

    PayPal Holdings Inc. announced Thursday that it is acquiring small-business lender Swift Financial. The online lender's shares were down 2.8% in early afternoon trading. PayPal did not disclose the deal's terms and said the acquisition would close by the end of the year. Delaware-based Swift Financial offers credit to businesses through loans and advances, and the deal will increase small-business owners' access to capital via loans of up to $500,000, and credit to merchants not using its services. PayPal has operated its own Working Capital unit since 2013, and has loaned more than $3 billion to small-businesses in total. PayPal shares have climbed more than $35% year-to-date, while the S&P 500 index has gained 9.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/07/2017 16:02:17

    BRIEF-Ares Capital Corporation prices public offering of $750.0 million 3.500 percent notes due 2023

    * Ares Capital Corporation prices public offering of $750.0 million 3.500 percent notes due 2023 Source text for Eikon: Further company coverage:

  • 08/04/2017 09:57:27

    Shares of theater chain AMC gain 10% as investors shrug off disappointing Q2 earnings

    Shares of AMC Entertainment Holdings Inc. rose as much as 10% on Friday from Thursday's close, despite the company reporting softer-than-expected revenue and a slightly wider loss in the second quarter than Wall Street was expecting. Investors seemed to shrug off the earnings miss, after AMC issued a profit warning earlier in the week and shares tanked as much as 27%. They focused on the company's $100 million buyback announcement and the cinema chain's plans to stabilize the business in the face of volatile box office returns. AMC Chief Executive Adam Aron said, "I also plan individually to buy AMC stock on the open market with personal monies within the next 60 days." In the company's quarterly report Aron laid out plans for confronting the challenges ahead, including streamlining operating costs and seeking revenue enhancement opportunities. AMC management is also looking to reduce capital expenditures by $100 million in the latter half of 2017 and an additional $100 million in 2018, while identifying roughly $400 million in non-strategic assets that could be monetized over the next two years. AMC is doubling down on its investment in concessions and premium recliner seating, and is positive on the industry's future and the company's position in it. "We remain optimistic about our ability to deliver meaningful value to our shareholders," Aron said in a statement. "Consumer demand to go to the movies was robust as 2017 started out in the first quarter. And just ahead of us is a strong fourth quarter film slate, that creates the opportunity to lessen the angst surrounding box office weakness industry-wide in the second and third quarters of 2017." Shares of AMC have lost more than 52% in the year so far, while the S&P 500 index has gained nearly 11%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/04/2017 05:41:44

    ADP's stock surges after activist Bill Ackman seeks to take control

    Shares of Automatic Data Processing Inc. rose 2.9% in premarket trade Friday, after the business consulting company disclosed that activist investor William Ackman's Pershing Square Capital Management is seeking to take control. ADP said Pershing, which owns 8% of the company's shares outstanding, is seeking to extend the deadline for nomination directors by up to 45 days, as Ackman would like to take five board seats. Ackman is also seeking a change of the chief executive officer. "The Board has unanimously determined that it is not in the best interests of ADP or its other shareholders to accede to Pershing Square's last-minute request for an extension," the company said in a statement. ADP said in the six years that Carlos Rodriquez has been CEO, ADP's total shareholder return (TSR) has been 202%, while the S&P 500's TSR has been 128% and Pershing's TSR has been 29%. Over the past year, ADP's stock has rallied 26.4% while the S&P 500 has gained 14%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 07/31/2017 14:32:07

    Texas Roadhouse shares up nearly 7% after earnings

    Shares of Texas Roadhouse Inc. rose nearly 7% late Monday after the restaurant chain reported second-quarter sales above expectations and per-share earnings in line with forecasts. Texas Roadhouse said it earned $37.6 million, or 53 cents a share, in the quarter, compared with $33.6 million, or 47 cents a share, in the year-ago period. Revenue rose to $566.2 million, from $508.1 million a year ago. Analysts polled by FactSet had expected per-share earnings of 53 cents a share on sales of $563 million. Comparable-restaurant sales rose 4% at company restaurants and 3.6% at domestic franchises, Texas Roadhouse said. The company reiterated its expectations of comparable-restaurant sales growth for the year, as well as food costs deflation between 1% and 2% and total capital expenditures of about $170 million. The shares ended the regular trading session down 0.8%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 07/27/2017 11:02:58

    ADP stock jumps 10% in midday trade on reports of Ackman stake

    Shares of Automatic Data Processing Inc. jumped more than 10% in Thursday afternoon trade following a Bloomberg News report that Bill Ackman's Pershing Square Capital Management had taken a stake in payroll company ADP . Bloomberg cited people familiar with the matter, indicating that Ackman had recently bought shares in ADP and that he may increase his position. The report didn't specify the size of the activist investor's position. ADP's shares have climbed 13.1% so far this year, compared with a 10.1% year-to-date return for the Dow Jones Industrial Average, a 10.6% rise for the S&P 500 index thus far in 2017, and a 20% surge for the Nasdaq Composite Index over the same period. Ackman has been notably linked to recent bullish bets on Valeant Pharmaceuticals International Inc. , which he exited in March after racking up a $4 billion loss on his investment. He is also notoriously wagering that nutritional-supplement company Herbalife Ltd.'s shares will fall to zero. However, that company's stock is up 40% so far this year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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