Stocks In The News: Waste Management (WM), SAGE Therapeutics (SAGE), Banro Corporation (BAA)

Albany, New York (10/07/2014) – Waste Management, Inc. (NYSE:WM) and aPriori Capital Partners LP will acquire Deffenbaugh Industries Inc, the companies announced. The acquisition is expected to help WM boost its presence in Kansas City, where it presently has a limited penetration. The companies did not disclose the financial details of the deal. However, it is worth recalling that Deffenbaugh Industries was bought for $300 million in 2007 by an affiliate of Credit Suisse. The WM said it expects the transaction to close by the end of the year. Both WM and Deffenbaugh Industries will continue to operate as standalone companies until the deal is completed. Waste Management, Inc. (NYSE:WM) had $3.56 billion in revenue in the most recent quarter, which was behind $3.61 billion that analysts estimated for the quarter. Nonetheless, revenue was up 1% YoY.

SAGE Therapeutics Inc (NASDAQ:SAGE) is loved by analysts at Goldman Sachs Group Inc (NYSE:GS), at least going by their latest comment on the stock. The analysts upgraded SAGE to “buy” from “neutral” and issued $38 target price on it. There are also a number of analysts that are bullish on the stock. Analysts at Canaccord Genuity, for instance, launched coverage on the stock with a “buy” rating and issued $40 price target on it. Even analysts at JPMorgan Chase & Co. (NYSE:JPM) set a price target of $42 on the stock of SAGE while their rated it an “overweight”.

Banro Corporation (USA) (NYSEMKT:BAA), a $33 million gold exploration company, provided an update of its operations at the Twangiza mine in the Democratic Republic of Congo. It said production at the mine was 27,171 ounces of gold in 3Q2014. That was an increase of 30.7% over the production levels achieved in the 3Q2013. Further, the output was better than that realized in 2Q2014. BAA also said that the amount of ore processed at Twangiza mine increased 48.1% in 3Q2014 over the like quarter in 2013.

About the Author

Michael joined US Markets Daily in 2009 and is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments.

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