Chicago Rivet & Machine Co
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Industrials : Machinery | Small Cap Value
Company profile

Chicago Rivet & Machine Co. is engaged in the business of producing and selling rivets, cold-formed fasteners and parts, screw machine products, automatic rivet setting machines and parts and tools for such machines. The Company operates in two segments of the fastener industry: Fasteners and Assembly Equipment. The Fastener segment consists of the manufacture and sale of rivets, cold-formed fasteners and parts, and screw machine products. The Assembly Equipment segment consists primarily of the manufacture of automatic rivet setting machines, automatic assembly equipment and parts and tools for such machines. The principal market for the Company’s products is the North American automotive industry. The Company serves various customers in the manufacture of automobiles and automotive components. The Company's wholly owned subsidiary is H & L Tool Company, Inc.

Closing Price
Day's Change
-0.1125 (-0.42%)
B/A Size
Day's High
Day's Low

10-day average volume:

Twitter's stock heads for 3rd-straight loss in wake of Musk's disclosure of financing commitments for buyout

1:19 pm ET May 10, 2022 (MarketWatch)

Shares of Twitter Inc. (TWTR) slumped 1.6% in afternoon trading, and have now shed 6.3% amid a three-day losing streak, despite assurances from Tesla Inc. (TSLA) chief executive Elon Musk that he has financing commitments for his buyout bid. When Musk disclosed the commitments before the May 5 open, the stock jumped 2.7% that day but still closed 7.1% below the agreed-upon buyout bid price of $54.20. The stock is currently 12.9% below the bid price. The stock's highest close since the bid was announced was $51.70 on April 25, the day Twitter agreed to be acquired, but even that was 4.6% below the bid price. On Monday, the stock fell 3.7% after Hindenburg Research issued a report saying there is substantial risk that Musk lowers his bid price. The "forensic financial research" investor's report said it believes that if the Musk withdrew his bid to buy Twitter, the stock would fall 50% from current levels. "Consequently, we see a significant risk that the deal gets repriced lower," the Hindenburg Research report said. Despite the post-bid weakness, the stock was still up 9.2% year to date, while Tesla shares have tumbled 25.3% and the S&P 500 has dropped 16.6%.

-Tomi Kilgore


(END) Dow Jones Newswires

May 10, 2022 13:19 ET (17:19 GMT)

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