Two Stocks in Concentration: General Cable Corporation (BGC), Wells Fargo & Company

Two Stocks in Concentration: General Cable Corporation (BGC), Wells Fargo & Company

Consequently General Cable Corp (NYSE:BGC)'s weekly and monthly volatility is 3.16%, 2.68% respectively. Clearbridge Limited Liability Corporation has 201,439 shares. During the same period in the prior year, the firm posted $0.07 EPS.

General Cable is pleased with the outcome.

Italian cable maker Prysmian is looking at three more M&A targets, its CEO Valerio Battista said on Tuesday, the day after announcing a $3 billion deal to buy USA rival General Cable.

The transaction values General Cable at approximately United States dollars 3 billion, including debt and certain other General Cable liabilities, and represents a premium of approximately 81% to the General Cable closing price of USD 16.55 per share on July 14, 2017, the last day of trading before General Cable announced its review of strategic alternatives. The company's institutional ownership is monitored at 0 percent.

Wells Fargo & Company (WFC) analysts on average have given a price target of $26 on WFC stock. If the published price targets set by General Cable Corporation analysts have any power to influence the stock's share price, the highest price target set for BGC is $26. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

BGC's overall volume in the last trading session was 28,719,886 shares. Currently, 8.96 million total shares are owned by the public and among those 6.84 million shares have been available to trade.

More news: Has $526000 Stake in United Parcel Service, Inc. (UPS)

In terms of Buy, Sell or Hold recommendations, General Cable Corp (NYSE:BGC) has analysts' mean recommendation of 3. Therefore 0 are positive. General Cable Corporation (NYSE:BGC) has risen 13.14% since December 4, 2016 and is uptrending.

General Cable Corporation (NYSE BGC) opened at $29.45 on Tuesday. With almost 140 years of experience, sales of over €7.5 billion in 2016, 21,000 employees across 50 countries and 82 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how. The ex-dividend date of this dividend is Thursday, December 7th.

The transaction will be financed through a mix of new debt (for which Prysmian has already received lender commitments), cash on hand and existing credit lines, resulting in anticipated pro forma net leverage for the combined group of 2.9x Net Financial Position over adj. EBITDA LTM 3Q-2017 PF.

General Cable Corporation, together with its subsidiaries, develops, designs, makes, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, specialty, and communications markets in North America, Europe, Latin America, and Africa/the Asia Pacific. The corporation has a market cap of US$1.08 Billion. Its 52-week high and low range is between $59.99 and $49.27. It now has negative earnings.

Extraction Oil & Gas, Inc.

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