Boston, MA 03/25/2014 (wallstreetpr) – Star Gas Partners, L.P. (NYSE:SGU) has reportedly concluded the acquisition process of Griffith Energy Services. As per the earlier announcement, Star gas partners had agreed to takeover Griffith Energy in exchange of $6.69 million worth of equity along with aggregate working capital amounting to $32.3 million at closing. It is noteworthy that Griffith is a heating oil distributor as well as fuel and energy service provider and offers its services to nearly 50,000 residential and commercial clients situated in Delaware, Virginia, West Virginia, the District of Columbia, Pennsylvania and Maryland.
Astec Industries, Inc. (NASDAQ:ASTE) breached its 52-week level on Friday. As of date, the company was able to deliver returns to the tune of 17% over the last one year, which is credible and higher than teh S$P 500 return. The shares of the company have been projecting upbeat, especially since it reported its fourth-quarter results and full year results in February. During the reported quarter, the company improved on the earnings front that climbed 36 cents per share, that is, a 50% growth from its earlier earnings of 24 cents in the previous year. The growth of Astec Industries, Inc. (NASDAQ:ASTE) can be credited to its successful functioning of the plant in Georgia, coupled with strong performance delivered by its equipment business. Moreover, the U.K. parliament’s recent decision to give tax credit for utilities to burn wood pallets also offers immense opportunity to the company.
Speculations are high that Mercury Systems Inc (NASDAQ:MRCY) is military systems company is in early talks of its sale and expects the initial bid to arrive shortly. According to the sources, the company that is a manufacturer of aerospace and defense embedded computing systems could garner $500 million through sale. As a result of this buzz, the shares of Mercury Systems Inc (NASDAQ:MRCY) soared on the day and continues to reflect an upbeat since then.