Boston, MA 04/03/2014 (wallstreetpr) – Investor optimism is growing in Dixie Group Inc (NASDAQ:DXYN) after the floorcoverings maker announced successful completion of its acquisition deal. Shares of the company jumped to new high in the last session. Late last month Dixie completed the acquisition of a high-end commercial floorcovering manufacturer and marketer Atlas Carpet Mills. The deal was valued at $17.5 million and included assumption of debt and outstanding orders of Atlas and a cash payment for the deal. Dixie hopes that its tie-up with Atlas will be able to boost its operations, especially into the high-end markets and improve its revenue, earnings and stock performance. Dixie Group Inc (NASDAQ:DXYN) is out to win more business through strategic acquisitions and partnership arrangements. The company is also supporting growth in its earnings through disciplined costs and expenses management. Dixie owns Msland Contract, Masland Carpte, Fabrica International, Avant and Dixie Home brands, through which it offers high-end commercial and residential carpet and rugs.
The Providence Service Corporation (NASDAQ:PRSC) stated that its new acquisition Ingeus Limited will continue its operation as before with Therese Rein keeping her position as chief executive, but now reporting to PRSC CEO Warren Rustand. Shares of PRSC continued to soar even in the last session on heavy volume following the acquisition which is widely commended by investors. The acquisition of Ingeus enables Providence to expand into new markets and achieve diversified customer base. More, the deal also enhances the company’s pool of talents. Ingeus is based in Australia and is engaged in assisting the unemployed. Providence agreed to acquire 100 percent of the company at the cost of £35 million ($58 million). The transaction may involve cash and stock. Subject to regulatory issues expected in such transactions, Providence Service Corporation (NASDAQ:PRSC) announced that it expects the deal to conclude in the second quarter.
Rose Rock Midstream LP (NYSE:RRMS) whose shares were recently chopped from a buy rating to neutral at Citigroup, jumped to touch a new 52-week high in the last session. The company is involved in the business of transportation, storage and marketing of crude oil. Without company-specific news out recently, the stock is being driven by the optimism in the oil and gas industry which has had positive impact on many other similar stocks.
