Sherwin-Williams To Buy Italian Wood Coatings Firm Industria Chimica Adriatica

Sherwin-Williams Co (SHW), a manufacturer of paint, coatings and related products, announced Tuesday an agreement to acquire Italy’s Industria Chimica Adriatica S.p.A. or ICA. The financial terms of the deal were not disclosed.

The transaction is expected to close by the end of 2022.

Following the acquisition, ICA, with its around 600 employees, will become part of the Sherwin-Williams Performance Coatings Group operating segment.

ICA is an Italian manufacturer of industrial wood coatings used for kitchen cabinets, furniture and décor, building products, flooring and other specialty applications.

The acquired business has annual sales of more than 150 million euros, with sales and operations globally. It has production facilities in Italy and Poland, and has interest in the India-based joint venture, ICA Pidilite.

Sherwin-Williams Chairman and Chief Executive Officer, John Morikis said, “… ICA has excellent relationships with multi-national and local customers, multiple product specification and approval positions, strategically located manufacturing and distribution, and an outstanding commercial team focused on delivering innovative and value-added solutions. The combination of our businesses provides numerous opportunities to accelerate profitable growth in the region and beyond.”

Victim in High Line Canal homicide identified

The body of a homicide victim found in the High Line Canal Friday has been identified as an 18-year-old teenager.

Officers found the body of Alex Malone Friday in the canal near Picadilly Road and Green Valley Ranch Boulevard while conducting a death investigation, police said in a 12:07 p.m. Friday tweet.

Police later announced Malone’s death was being investigated as a homicide.

Anyone with information on the incident is asked to call Metro Denver Crime Stoppers at 720-913-7867 (STOP). Tipsters may be eligible for a reward.

Roblox Stock Slips 5% As Barclays Initiates Coverage

Shares of Roblox Corporation (RBLX) are slipping over 5% on Tuesday morning after analysts at Barclays initiated coverage of the company Underweight.

RBLX is currently trading at $33.47, down $1.93 or 5.45%, on the Nasdaq. The stock opened its trading at $33.70 after closing Monday’s trading at $35.40. The stock has traded between $21.65 and $141.60 in the past 52-week period.

Barclay’s price target of $20 per share indicates a risk of over 40% compared to yesterday’s closing price of $35.40.

E.l.f. Beauty Climbs 6%

Shares of cosmetics company e.l.f. Beauty, Inc. (ELF) are rising 4 percent on Tuesday’s trading. The stock has been on an upward trend since the past few days.

ELF’s Tuesday rise follows several analysts upgrading the stock and and raising target price for e.l.f Beauty shares.

Currently at $39.74, the stock has traded between $20.49 and $41.31 during the past 52 weeks.

Casualties, Including In Kiev, In Wave Of Missile Attacks Across Ukraine

Dozens of civilians were killed and several others wounded in a wave of Russian missile attacks across Ukraine on Monday morning.

At least eight people were killed in capital Kyiv, which came under attack after a gap of many months. Casualties were also reported in the southeastern city of Zaporizhzhia, where a missile destroyed an apartment block.

Russian forces also targeted Kharkiv, Lviv, Mykolaiv and Dnipropetrovsk with missiles and rockets.

Ukrainian President Volodymyr Zelensky said Russia was trying to annihilate Ukraine, while Foreign Minister Dmytro Kuleba called Russian President Vladimir Putin “a terrorist who talks with missiles”.

Russia used Iranian drones in Ukrainian targets, according to Zelensky.

European leaders condemned Monday’s attacks; China called for de-escalation.

The retaliatory attacks, the most widespread since the early weeks of the war, came after a series of setbacks that Russian forces suffered in the warfront in recent days.

Meanwhile, Putin accused Ukraine’s special services of bombarding a key bridge that links Russia with occupied Crimea. He is set to chair an operational meeting of his Security Council later in the day, reports say.

AerCap Holdings Down 3%

AerCap Holdings N.V. (AER) shares are sliding more than 3 percent on Tuesday morning trade. The markets are generally on a bearish trend today. AerCap announced a transaction of 255 assets in the third quarter.

Currently, shares are at $46.64 down 3 percent from the previous close of $47.80 on a volume of 185,396.

Albireo Pharma Spikes On Positive Study Results Of Bylvay In Alagille Syndrome

Shares of Albireo Pharma, Inc. (ALBO) are gaining more than 20 percent on Tuesday morning trade after the company announced positive results for its phase 3 ASSERT study of Bylvay in Alagille syndrome. The company said its study met the primary endpoint of improvement in pruritus. Further, Albireo said it had discussions with the FDA and EMA regarding the phase 3 study design and indicated that a single study would be sufficient for approval.

Currently, shares are at $24.42, up 19.31 percent from the previous close of $20.47 on a volume of 516,367.

Thoma Bravo To Buy ForgeRock For $2.3 Bln; Stock Up

ForgeRock, Inc. (FORG), an identity and access management software company, said on Tuesday that it has inked a deal which allows Thoma Bravo, a software investment company, to acquire it for around $2.3 billion or $23.25 per share in cash.

The transaction, which will take ForgeRock private, is scheduled to be closed in the first half of 2023.

The offer price is a premium of around 53 percent over ForgeRock’s closing share price on October 10, and 44 percent over the volume weighted average price of ForgeRock stock for the 30 days ending on the same day.

FORG is trading up by 49.41 percent at $22.65 per share on the New York Stock Exchange.