UPDATE: Stonegate Mortgage to be acquired by Michigan firm for $211M
The deal would mark the end of Indianapolis-based Stonegate’s stint as a public company, which has largely disappointed investors since its IPO in 2013.
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Indiana bank stocks surge on Trump prospects
Indiana-based banks have benefited from a post-election stock jolt hitting financial stocks across the country.
Angie’s List CEO says timing right to consider suitors
CEO Scott Durchslag said Tuesday the company wants to be proactive instead of reactive when it comes to courting suitors, a stark shift from his tone about the matter last year. Also, the company is gearing up to slash jobs in a cost-cutting effort.
Wall Street analysts jumping on Lilly train
For more than two years, Eli Lilly and Co. has pushed the message that the worst days are over and a brighter future is just around the corner. Now, finally, Wall Street is starting to believe.
Finish Line’s supply chain woes under control, CEO says
Sales and profit for the apparel seller’s most recent quarter either met or exceeding Wall Street’s expectations. It’s now embarking on a plan for responding to clothing trends more quickly.
Merger dance between Interactive Intelligence, suitor started in 2012
The Indianapolis-based software firm fielded escalating offers over the years until a last-second reduction in bid price from buyer Genesys Telecommunications Laboratories Inc., according to a new public filing.
Hurco profit falls as demand for machine tools diminishes
North American sales for the Indianapolis-based manufacturer dropped 19 percent in the third quarter due to pricing pressure and reduced consumption of machine tools.
Tech leaders heap praise on city’s latest billion-dollar exit
In the immediate wake of news Wednesday that Interactive Intelligence Group Inc. had agreed to be acquired for $1.4 billion, Indianapolis tech leaders bubbled with praise for CEO Don Brown and with enthusiasm for the possible impact on the city.
Emmis chief makes another run at taking media firm private
For the third time in a decade, CEO Jeff Smulyan is making an offer for the outstanding shares of Emmis Communications Corp., which runs radio stations and magazines in Indianapolis and major U.S. markets.
With new Carmel HQ, tech firm aims to move beyond rocky past
Publicly traded Determine Inc. generated fanfare when it announced it was moving its headquarters here and adding 24 jobs to the 35 already here. But many investors have been betting against it for years.
Simon raises outlook on strong first-quarter earnings
The nation’s largest mall owner said funds from operations, a key measure of profitability, increased 15.4 percent in the first quarter while tenant rents grew.
Stonegate Mortgage president gets keys to CEO’s office
The Indianapolis mortgage firm has promoted James Smith to the top spot vacated last year in an abrupt resignation by its founder.
Anthem slaps lawsuit on Express Scripts over drug pricing
The insurer’s CEO said in January that Anthem should be reaping an addition $3 billion per year in savings on drugs from Express Scripts, which manages its pharmacy benefits.
Simon reports lower quarterly profit, higher revenue
Despite reporting lower profit in the fourth quarter, the nation’s largest mall owner still posted strong results for the full year.
Anthem merger partner banned from Medicare sales for ‘widespread failures’
Cigna Corp., which has agreed to a $48 billion merger with Indianapolis-based Anthem Inc., has committed systemic violations that threatened patients’ health, U.S. regulators say.
Finish Line’s ‘self-inflicted’ blunders leave analysts skeptical
The Finish Line Inc.’s disastrous third quarter stemmed from management miscues, a well-worn story that has made some analysts skeptical that incoming CEO, Sam Sato, will usher in better times.
Large Noble Roman’s investor calls for sale of company
In a scathing letter to directors, Privet Fund LP said accountability is sorely lacking throughout the upper ranks of the company, which has a stock price languishing below $2 a share.
Aggressive bidder has Angie’s List over a barrel, analysts say
Internet behemoth IAC appears bent on hashing out an acquisition and likely would stage a hostile takeover if Angie’s List resists, market analysts say.
Simon raises quarterly dividend, full-year forecast
A strong third quarter prompted Simon to boost its earnings forecast and raise its quarterly dividend to $1.60 per share, a 23.1 percent year-over-year increase.
Angie’s List ekes out profit as new CEO rebuffs activist
Shares sank 15 percent on Wednesday morning despite an $82,000 profit in the third quarter. New CEO Scott Durchslag told analysts he wanted to increase shareholder value organically rather than pursue a sale or merger.