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Monday, 01/23/2012 6:42:22 AM

Monday, January 23, 2012 6:42:22 AM

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Stocks to watch Monday: RIM, Apache, TransDigm
WASHINGTON (MarketWatch) — Among the stocks that could see active trade in Monday’s session are Research In Motion Ltd., Apache Corp. and TransDigm Group Inc.

Monday’s earnings calendar includes a handful of tech companies — Texas Instruments Inc. TXN -0.03% , VMware Inc. VMW +0.35% , Western Digital Corp. WDC +0.40% , Polycom Inc. PLCM +1.30% and Twin Disc Inc. TWIN +0.69% — as well as CSX Corp. CSX +0.57% , Kansas City Southern KSU -0.67% , Halliburton Co. HAL -0.06% , Packaging Corp of America PKG -0.95% and Crane Co. CR +0.79% , among others.

Research In Motion RIMM +0.53% CA:RIM -3.09% has finally thrown in the towel on its dual-CEO executive structure, with Thorsten Heins taking over as president and chief executive of the Waterloo, Ontario-based maker of BlackBerry handsets. Heins moves up from RIM’s chief operating officer and replaces Mike Lazaridis and Jim Balsillie in the top post. Lazaridis will serve as vice chairman of RIM’s board and will chair of the board’s new innovation committee. Balsillie retains his seat on RIM’s board, which will expand to 11 directors with the addition of veteran investor Prem Watsa, CEO of Fairfax Financial Holdings. Barbara Stymiest, a RIM director since 2007, has been named independent board chair, while John Richardson, formerly lead director, will remain on the board. RIM’s “entering a new phase, and we felt it was time for a new leader to take it through that phase and beyond,” said Lazaridis in a statement late Sunday.

Apache APA -0.18% agreed to pay $2.85 billion in cash and stock to acquire privately held Cordillera Energy Partners III LLC. Terms call for the Houston-based independent oil company to pay $2.25 billion in cash as well as $600 million in common stock. Cordillera owns some 254,000 net acres in Oklahoma and Texas with proved reserves estimated at 71.5 million barrels of oil equivalent. Denver-based Cordillera’s current net daily production stands at 18,000 barrels of oil equivalent. The acquisition, scheduled to be completed in the second quarter, is expected to contribute to Apache’s 2012 earnings and cash flow, and a development drilling program for the acquired properties is to begin in 2013, the company said.

TransDigm Group TDG -0.14% agreed to acquire privately held AmSafe Global Holdings Inc. for about $750 million in cash from a group controlled by Berkshire Partners LLC and Greenbriar Equity Group LLC. Best known for its proprietary aviation passenger seat belts and airbags, AmSafe had 2011 revenue of about $260 million, according to Cleveland-based TransDigm. It expects to fund the acquisition in part through new senior bank debt and has obtained commitments for the full amount of financing. The buyout price “includes substantial tax benefits to be realized by TransDigm in 2012 and beyond,” the company said late Friday.

Thor Industries Inc. THO -0.06% said Friday it spent $57 million to repurchase 2 million common shares via a pair of private transactions — 1 million from the estate of co-founder Wade Thompson, who died in 2009, and 1 million from Catterton Partners VI LP and affiliates. Available cash was used to complete the transactions, representing 3.6% of the Jackson Center, Ohio-based company’s issued and outstanding common stock.

Along with reporting fourth-quarter financial results, Community Bank System Inc. CBU +1.27% said Sunday it plans to make a public offering of $50 million in common stock. Proceeds will be used by the Syracuse, N.Y.-based company in support of its branch expansion in upstate New York. On Friday, Community Bank System struck a deal to acquire 19 banking locations in the region as well as about $218 million in loans and $955 million in deposits, with the transaction scheduled to be completed during the third quarter pending regulatory approval. Underwriters will be able to to buy up to an additional 15% of Community Bank System shares if investor demand warrants.

Alliant Energy Corp. LNT -0.21% said Patricia Kampling will be promoted to CEO and president effective April 1, taking over from William Harvey. She will also chair the Wisconsin-based utility company’s board after having been elected as a director on Friday. Harvey, after 25 years with Alliant and predecessor WPL Holdings, is retiring March 31. Kampling, currently president and chief operating officer, is 52 years old and joined Alliant in 2005.


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