On Tuesday, Shares of Pep Boys-Manny Moe and Jack (NYSE:PBY), lost -0.07% to $14.98.
Bridgestone Americas, and The Pep Boys – Manny, Moe & Jack (Pep Boys; NYSE: PBY), declared that Pep Boys and Bridgestone Retail Operations, LLC (BSRO), a wholly owned partner of Bridgestone, have reached a definitive merger agreement under which BSRO will acquire Pep Boys in an all-cash transaction for $15.00 per share, or about $835 million in aggregate equity value. This represents a premium of 23 percent over Pep Boys closing price of $12.15 on October 23, 2015 and a premium of 62 percent over Pep Boys unaffected (preceding to market speculation of a potential transaction) price of $9.25 on May 19, 2015. The transaction is structured as a tender offer.
Bridgestone and Pep Boys are two leading companies that share a proud heritage in the American automotive services industry, said Gary Garfield, CEO and President of Bridgestone Americas. Our shared expertise and commitment to our customers and employees will assist us build an even stronger organization.
Shares of 3D Systems Corporation (NYSE:DDD), declined -6.55% to $10.42, during its last trading session.
3D Systems, declared a partnership with GPI Prototype & Manufacturing Services, Inc., a Midwest leader in direct metal printing, to expand access and adoption of direct metal 3D printing technologies for the manufacture of end-use production parts for industries ranging from automotive and aerospace, to healthcare and electronics. 3DS will tap into GPIs extensive experience in metal design and production to collaborate on the development of industry and technology applications.
This partnership comprises the installation of 3DS Direct Metal Printers (DMP) at GPIs recently expanded production facility, counting a ProXTM 300 and two ProX 200 units to support rapid growth of its metal additive manufacturing services. In addition, direct metal printing experts from GPI and 3DS will conduct research together on 3DS DMP technology. GPIs team comprises a metallurgical engineer in addition to a metals applications engineer to spearhead R&D and production capabilities. Together the companies will work to advance DMP applications and development. Watch a video on GPI direct metal applications here.
GPI has an excellent reputation and many years of experience in direct metal prototyping and manufacturing. We are delighted to be working with them to advance manufacturing innovation through access to our direct metal printing technology, said Charlie Grace, Chief Revenue Officer, Professional Products, 3DS.
3D Systems Corporation, through its auxiliaries, operates as a provider of 3D printing centric design-to-manufacturing solutions in the Americas, Germany, and the Asia-Pacific, in addition to other European, the Middle East, and African countries.
Finally, Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW), ended its last trade with -3.46% loss, and closed at $69.99.
C.H. Robinson Worldwide, stated financial results for the quarter ended September 30, 2015.
“We are proud of our results across our global business in the third quarter,” said John Wiehoff, CEO and Chairman. “We were able to continue to take market share in the third quarter while maintaining discipline and focus on our customer service and efficiency initiatives.”
Our truckload net revenues raised 10.8 percent in the third quarter of 2015 contrast to the third quarter of 2014. Organic truckload net revenues raised about eight percent in the third quarter of 2015 contrast to the third quarter of 2014. Our acquisition of Freightquote.com (“Freightquote”) on January 1, 2015 contributed about three percentage points to our truckload net revenue growth in the third quarter of 2015. Our North American truckload volumes raised about seven percent in the third quarter of 2015 contrast to the same period of 2014. North American truckload volumes, not taking into account Freightquote, raised about four percent in the third quarter of 2015 contrast to the third quarter of 2014. Our truckload net revenue margin raised in the third quarter of 2015 contrast to the third quarter of 2014, due primarily to lower transportation costs, counting fuel. In North America, not taking into account the estimated impacts of the reduction in fuel costs, our average truckload rate per mile charged to our customers was flat in the third quarter of 2015 contrast to the third quarter of 2014. In North America, our truckload transportation costs reduced about one percent, not taking into account the estimated impacts of the reduction in fuel costs.
C.H. Robinson Worldwide, Inc., a third party logistics company, provides freight transportation services and logistics solutions to companies in various industries worldwide. It offers transportation and logistics services, such as truckload comprising time-definite and expedited truck transportation services; less than truckload services; intermodal transportation, which is shipment service of freight in trailers or containers by combination of truck and rail; and non-vessel ocean common carrier or freight forwarding services, in addition to organizes air shipments and provides door-to-door services.
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