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The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)
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June 2 (Reuters) - Stratasys Ltd (SSYS.O) said on Thursday that it had received an unsolicited buyout proposal from rival 3D Systems Corp (DDD.N), valuing the industrial 3D printer at about $1.21 billion. Stratasys shares were up 10.1% at $16.04, while 3D Systems was up 2.6% at $8.55 in premarket trading on Friday. 3D Systems has proposed to acquire Stratasys for $7.50 in cash and 1.2507 of its newly issued stock for each share of the target company, which translates to $17.92 on a per-share basis. Stratasys said its board would "carefully review" the newly received non-binding proposal, adding that the Desktop Metal deal is still expected to close in the fourth quarter of this year. 3D Systems on Friday confirmed its bid for Stratasys and said that if the deal goes through, it will bring $100 million in cost synergies.
Persons: Stratasys, Jaiveer Singh, Shilpi Majumdar, Anil D'Silva, Shounak Organizations: Stratasys, 3D Systems Corp, Systems, Metal Inc, Thomson Locations: Rehovot, Israel, Bengaluru
WASHINGTON, Feb 27 (Reuters) - 3D Systems Corp on Monday agreed to pay $2.77 million in penalties to settle with the U.S. Commerce Department for illegally exporting to China controlled design drawings for military electronics and spacecraft, the Commerce Department said. In addition to the Commerce settlement, the company also entered into agreements with the Department of State and the Department of Justice, the agency said in a statement. Rock Hill, South Carolina-based 3D Systems, which provides 3D printing and other services to customers in the U.S. and abroad, emailed design documents, blueprints and technical specification to Quickparts.com, Inc., its then-subsidiary's office in China for price quotes, the Commerce Department said. The emails included design drawings for military electronics and the development and operation of spacecraft that required U.S. export licenses to send to Guangzhou City. 3D Systems did not immediately respond to a request for comment.
WASHINGTON, Feb 27 (Reuters) - 3D Systems Corp on Monday agreed to pay up to $27 million to settle with the U.S. for illegally exporting to China controlled design drawings for military electronics and spacecraft, among other violations. Besides the Commerce Department, the company also settled with the U.S. Department of Justice and the U.S. Department of State. The Commerce Department penalty is for $2.8 million. In addition to the aerospace documents, the Commerce Department said, 3D Systems exported metal alloy powder to China without a license, although it is restricted for national security and nuclear nonproliferation reasons. "The company is pleased to have reached a settlement with the agencies and remains committed to continuing to enhance its export controls program," 3D Systems said in a statement.
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