Open Text (OTEX) said Monday it has completed the sale of Vertica to Rocket Software, which is owned by Bain Capital, for $150 million in cash before taxes and other costs.
Proceeds from the divestiture will be used to pay off debt, the company said, adding that as part of the deal, Vertica's software, customer contracts, services, and employees will move to Rocket Software.
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Celanese's (CE) H2 guidance looks conservative but its engineered materials business faces some headwinds from inventory drawdowns, RBC Capital Markets said in a Friday note.The report said the company's H2 EPS guide of about $3.00 is likely below buy-side expectations while its guidance for Q2 of about $2.20 is encouraging."Overall, CE continues to see subdued end-use demand,with pockets of strength in vinyl emulsions, redispersible powders, medical, electronics, data-centers, and some industrial applications," the note said.The report also said improving free cash flow generation is facilitating its deleveraging plan.RBC reiterated its sector perform rating and raised its price target to $68 per share from $66.Price: $59.43, Change: $+2.26, Percent Change: +3.95%
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