Archive for June, 2014
U.S. District Judge: Argentina Payment is Illegal
It looks as though on Monday Argentina will have a technical default after a judge in federal court said the attempts by the South American country to meet their payments of interest on its debt that has been restructured via Bank of New York were illegal. Thomas Griesa the District Judge said the bank in […]
Michaels Prices IPO at $17
The Michaels Companies, the retailer of arts and crafts, which has spent close to eight years privately owned, is ready to become a public company. Michaels debut shares were priced Thursday night at $17 apiece, which was the bottom of the expected price range, according to people briefed on the situation. At the $17 price, […]
Google Readying Set-Top TV Box
Google is racing with the likes of Apple and Amazon to control the digital content of the home. During its Wednesday developer conference, Google, the search behemoth, plans on showing off a minimum of one set-top box that is similar to products such as Amazon’s Fire, Roku and Apple TV by Apple, said two people […]
Wisconsin Energy Acquiring Integrys
Two huge utilities in the U.S. Midwest will unit as Wisconsin Energy on Monday agreed to acquire Integrys Energy Group for the price of $5.7 billion in cash and stock. The deal is one more of a series of consolidations of utility companies, which have looked to combine over the past few years to find […]
Prices for Packaged Coffee and More Going Up at Starbucks
Starbucks Corp. announced it was increasing its prices for certain types of packaged coffee as well as for other products. This came after other coffee makers responding to the increase in costs of raw coffee earlier in the year did the same. Starting early next week, some beverages sold at stores that are company-operated in […]
M&T Bank to Forfeit Drug Proceeds
M&T Bank was ordered to forfeit drug proceeds of more than $560,000 that had been laundered through one of its branch. A U.S. District Court Judge ordered the forfeiture following the case of a teller who collaborated with a drug trafficking group’s member in Maryland to convert bills of small denomination into $100 bills, without […]
Coty Director Bradley M. Bloom Sells 8,493,363 Shares (COTY)
Coty (NYSE:COTY) Director Bradley M. Bloom sold 8,493,363 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.78, for a total transaction of $142,518,631.14. Following the transaction, the director now directly owns 297,836 shares in the company, […]
Medtronic to Acquire Covidien
Medical device manufacturer Medtronic, Inc based in the U.S. on Sunday said it entered into an agreement to purchase Covidien Plc in cash and stock for $42.89 billion. Medtronic said it would relocate its executive offices to Ireland after its most recent transaction looking to lower the rates of corporate tax abroad. While this deal […]
Uber Announces Ridership Increases 850%
Ridership on Uber increased by 850% on Wednesday thanks to the protests made by black cabs leaving Londoners snarled in heavy traffic. That is the report given by Uber’s general manager in the UK Jo Bertram told local papers. It is impossible to verify the figure from the taxi-booking app as no real numbers were […]
IPO Filing by GoDaddy Reveals Much
GoDaddy, the popular service provider for web hosting and place to register domain names, on Monday kicked off its initial public offering planning to raise as much as $100 million. As it happens often when companies decide to go public, the documents filed with the Securities and Exchange Commission by GoDaddy in conjunction with its […]
Americans Loving Debt Again
U.S. consumers have seemed to forget about the lesson they learned that debt is not a friend. In what is likely a good sign that the U.S. economy is growing with consumer spending increasing, data from April released by the Federal Reserve is not positive news for those who had hoped Americans would be more […]
Jobs Recouped in U.S. That Were Lost in the Recession
Employers in the U.S. kept up their solid pace of new jobs during May. Employment returned to its level of pre-recession which offered confirmation that the economy has returned from its slight slump during winter. Payrolls that were nonfarm were up 217,000 during May, the Department of Labor announced on Friday. That figure was in […]
Medtronic Receives Average Recommendation of “Buy” from Analysts (NYSE:MDT)
Shares of Medtronic (NYSE:MDT) have been given a consensus recommendation of “Buy” by the nineteen brokerages that are covering the stock, Stock Ratings Network reports. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have covered […]
ADP Report: Companies Add Less Jobs than Forecasted
In the United States, companies added fewer new jobs than was forecasted for May. This is just another sign of the uneven progress across the labor market. The ADP report is a private report that is based upon payrolls it processes. The increase of 179,000 in jobs was the smallest rise in jobs in the […]
Roche Acquires Genia Technologies for $125 Million
On Monday, Roche Holding AG said it was acquiring Genia Technologies Inc based in California. Genia develops technology for DNA-sequencing and its acquisition by Roche is part of the pharmaceutical strong push into diagnostics. Roche, based in Basel, Switzerland announced it was paying upfront $125 million for the California company. Roche also might pay shareholders […]
