Public Companies

PROXY CORNER: Horizon Bancorp

January 5, 2013
 IBJ Staff
Horizon Bancorp, 515 Franklin Square, Michigan City, Ind. 46360, operates as Horizon Bank and Heartland Community Bank.
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2012 NEWSMAKER: CEO keeps Simon stock surging

December 28, 2012
 IBJ Staff
If there were an MVP for local CEOs, David Simon would again find himself at or near the top of the list in 2012.
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Analyst: WellPoint CEO search down to two

November 19, 2012
J.K. Wall
According to one Wall Street analyst, the search for a new CEO for Indianapolis-based health insurer WellPoint Inc. is down to two candidates: former Aetna Inc. CEO Ron Williams and Amerigroup Corp. CEO Jim Carlson.
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Plenty of turbulence ahead, despite Republic's progressRestricted Content

November 17, 2012
Greg Andrews
Analysts are impressed by Bedford’s cost-cutting achievements at Republic’s scheduled-service carrier, Frontier Airlines, and his early progress in restructuring its Chautauqua unit, which flies small regional jets on contract for branded carriers.
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Small biz exposure clouds WellPoint's future

November 12, 2012
J.K. Wall
WellPoint’s average small-employer client has just 8.5 lives covered on its health plan. And firms of that size are far more likely to use the new health insurance exchanges, said WellPoint Chief Financial Officer Wayne DeVeydt.
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Stocks plunge after election, and as Europe woes deepen

November 7, 2012
Associated Press
The Dow Jones industrial average plummeted as much as 369 points, or 2.8 percent, in the first two hours of trading. It recovered steadily in the afternoon, but slid into the close and ended down 313, its biggest point drop since this time last year.
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Duke loss narrows, quarter meets expectations

November 1, 2012
 IBJ Staff
Indianapolis-based Duke Realty Corp. on Wednesday reported a third-quarter loss of $28.2 million, smaller than a loss of $32 million in the same quarter of 2011.
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Baldwin & Lyons profits rise on fewer storm losses

November 1, 2012
Indianapolis-based Baldwin & Lyons Inc. continues to improve on its 2011 results, recording after-tax profit of $11.7 million, or 78 cents a share, for the third quarter.
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Calumet's sales, profit boom after acquisitions

October 31, 2012
 IBJ Staff
Calumet Specialty Products Partners LP’s profit more than doubled in the third quarter, helped by huge gains in the fuel-products side of its business following several acquisitions.
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Storm will keep financial markets closed Tuesday

October 29, 2012
Associated Press
Stock trading will be closed in the U.S. for a second day Tuesday as Hurricane Sandy bears down on the East Coast. Bond trading will also be closed.
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Lilly misses analyst estimates, lowers profit forecast

October 24, 2012
J.K. Wall
Third-quarter earnings at Eli Lilly and Co. fell short of analysts' expectations, and the Indianapolis-based drugmaker reduced its profit forecast by 4 cents per share for the remainder of the year.
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ExactTarget aims to be one-stop shop with acquisitions

October 12, 2012
J.K. Wall
Indianapolis-based ExactTarget Inc., which grew up as an e-mail blasting company focused on consumers, is trying to entrench itself as a one-stop shop for smartly interacting with all manner of customers.
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ExactTarget buys interactive marketing firms for $116M

October 12, 2012
 IBJ Staff
The newly public tech company said it paid $95.5 million for Atlanta-based Pardot LLC and $21 million for Indianapolis-based iGoDigital.
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WellPoint reorganizes into four business units

October 11, 2012
Bloomberg News
Separate Medicare and Medicaid divisions each will sell plans for those government-backed insurance programs. Another will handle commercial and individual business, and a specialty unit will provide dental, vision and disability coverage.
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Emmis’ quarterly profit rises on sale of station

October 11, 2012
Much of Emmis' profit stemmed from the Aug. 23 sale of KXOS-FM in Los Angeles for $85.5 million, from which the company reported a gain from discontinued operations of $32.8 million.
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Cummins shares slide on job cuts, lower forecast

October 10, 2012
Bloomberg News
Shares in Cummins Inc. saw their biggest one-day drop in three months Wednesday after the Columbus-based engine maker lowered its forecasts for revenue and profit and said it expects to cut as many as 1,500 jobs by the end of the year.
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Members sue consumer ratings site Angie's List over fees

October 9, 2012
Chris O'Malley
A federal lawsuit seeking class-action status alleges that Angie’s List automatically renews members' subscriptions at a higher rate than they’re led to believe, under what it calls a “systematic and repeated breach of its membership agreement.”
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Lilly shares rise on Alzheimer's study results

October 8, 2012
J.K. Wall
Eli Lilly and Co.’s Alzheimer’s drug slowed cognitive decline 34 percent in patients with mild forms of the disease, according to an analysis of Lilly’s clinical trial data released Monday. Lilly’s share price jumped more than 5 percent on the news.
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Celadon shares jump along with earnings expectations

October 8, 2012
Chris O'Malley
The Indianapolis trucking company expects its quarterly earnings to beat analysts' consensus forecast and last year's results, thanks to acquisitions and cost controls. Shares were up 9 percent at 1 p.m.
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Cummins shortens work week at Columbus factory

October 5, 2012
Associated Press
The engine maker says that slowing demand led to the decision to scale back hours for the 350 workers at its Columbus Fuel Systems Plant. The new four-day workweek will continue indefinitely.
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WellPoint likely to go outside for chiefRestricted Content

September 29, 2012
J.K. Wall
While WellPoint Inc. and its predecessors have a history of grooming new CEOs in-house, the next leader of the health insurance giant is likely to be an outsider, according to interviews with more than a half dozen former directors and officers of the company.
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Remy International getting prepared for another attempt at IPO

September 27, 2012
Scott Olson
The Pendleton-based auto-parts manufacturer is offering 40,000 shares to employees and immediate family members to boost its number of stockholders before a broader public offering.
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ExactTarget's stock price falls as insiders unload shares

September 18, 2012
Scott Olson
The stock fell more than 7 percent Tuesday after company insiders shed more than 7.5 million shares of the Indianapolis-based marketing software firm. The selloff follows the expiration Monday of the company's lock-up agreement.
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'80s anti-takeover law helped sow Emmis winRestricted Content

September 8, 2012
Greg Andrews
The Indiana Business Corporation Law—enacted to help Hoosier companies fight off a wave of attacks by corporate raiders—gives boards of directors unusually broad authority to exercise judgment as they see fit.
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Bounty on Braly? $1.4 billion

September 4, 2012
J.K. Wall
Investors who called strongly for the head of WellPoint Inc. CEO Angela Braly got what they wanted last week. In response, they bid up WellPoint's share price by $1.4 billion on the day after she resigned.
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