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Investor Market Briefing: STERIS Corp (NYSE:STE), Ultra Petroleum Corp. (NYSE:UPL), Level 3 Communications, Inc. (NYSE:LVLT)

Boston, MA 04/03/2014 (wallstreetpr) – Keen on building upon what it is already a leader, STERIS Corp (NYSE:STE) has turned to Integrated Medical Systems International Inc (IMS) for acquisition. The companies announced a deal which is valued at $175 million. Out of that amount, $165 million will be paid for IMS while $10 million will be for the real estate which the company owns. The real estate property includes the corporate campus. IMS is a Birmingham company while STE is an Ohio publicly traded company engaged in providing infection prevention products and services for healthcare facilities. According STE chief executive Walt Rosebrough, the acquisition is part of the growth plans which the company is undertaking to boost its position in specialty services provision. The executive observed that at STERIS Corp (NYSE:STE), the key element of growth strategy is about combining acquisition and organic growth.

Executive transition has been sported at Ultra Petroleum Corp. (NYSE:UPL). The company announced that Mr. William Picquet will leave the company on retirement at the end of this month. And on that note, the board of directors has moved to elevate Brad Johnson to the position of SVP of Operations. Mr. Johnson is a well-known insider at UPL having joined the company back in 2008 in the capacity of reservoir engineering director. He was later name the VP of development and reservoir engineering. Ultra Petroleum Corp. (NYSE:UPL) believes that time has come for the full experience and expertise of Mr. Johnson to be put to helping the company attain its commitment to shareholders.

If Level 3 Communications, Inc. (NYSE:LVLT) was ever soaked in business troubles, all that is about to change and a new and perhaps more powerful Internet infrastructure provider is about to emerge. According to analysts at Macquarie, the stock now deserves a price target of $44 per share. However, the analysts fell short of lifting the rating of the stock and instead retained it at a neutral level. Thus, the analysts believe that Level 3 Communications, Inc. (NYSE:LVLT) may have just turned the corner.

Published by Nicholas Maithya

Nicholas is a Financial Analyst by profession, who enjoys writing about investments, technological developments, business, economics and other financial topics at various financial publications. Join him here on as he endeavors to deliver to you the latest breaking news on the above mentioned fronts. Contact him by email at [email protected] or follow Nicholas Kitonyi @nmaithyak on Twitter.

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