Tencent Holdings Ltd. said on Monday that it has bought a minority stake in China’s third largest search engine by traffic, Sogou for $448 million. Sogou search engine is owned by Sohu.com Inc. (NASDAQ: SOHU). The deal underpins that how large Chinese internet companies are aggressively expanding their product offerings amid intensifying competition. The deal [...]
Packaging Corp of America (NYSE: PKG) has agreed to acquire its rival packaging and paper products company, Boise Inc. (NYSE: BZ) in deal estimated at $1.28 billion. According to the terms of the agreement, Packaging Corp will offer $12.55 a share, which represents a premium of 26% to Boise’s Friday closing stock price. Shares of [...]
Umpqua Holdings Corp. (NASDAQ: UMPQ) has agreed to acquire regional bank Sterling Financial Corp. (NASDAQ: STSA) in a cash-and-stock deal valued at $2 billion. The announcement was made after the market close on Wednesday. Under the merger agreement, shareholders of Sterling Financial will receive 1.671 share and $2.18 in cash for each common share held. [...]
Yoga pants maker, Lululemon Athletica Inc. (NASDAQ: LULU) said on Thursday that fiscal second quarter net income fell 1.3% due to higher input costs, masking robust revenue growth. Both earnings and revenue topped analysts’ estimation but shares tumbled as the high-end yoga apparel maker handed weaker-than-expected guidance for the current quarter and slashed full-year outlook. [...]
The Kroger Company Inc. (NYSE: KR) reported on Thursday that fiscal second quarter net income rose 14%, driven by 4.4% growth in same-store-sales (3.3% excluding fuel sales). Shares edged higher as the company lifted its growth outlook for same-store-sales. For the recently concluded quarter, Kroger posted a profit of $317 million or 60 cents a [...]
Apple Inc.’s (AAPL) latest iPhone 5 C, which was unveiled on Tuesday, has failed to excite analysts. Analysts argue that iPhone 5C is priced too high for gaining traction in emerging markets, sending shares down about 5% in regular trading hours on Wednesday. Still, many analysts are positive that the stabilization of margins and company’s [...]
Drugstore chain, Walgreen Company (NYSE: WAG) announced on Tuesday that it has agreed to acquire a privately held pharmacy chain, Kerr Drug. The terms of the deal were not announced. North Carolina based Kerr Drug, which operates retail drugstores and specialty pharmacy business, reported sales of nearly $381 million, in the last fiscal year. Walgreen, [...]
The world’s largest burger chain, McDonald’s Corp. (NYSE: MCD) said on Tuesday that global sales rose 1.9% in August, driven mainly by revival in its European business, which offset weakness in other markets, including the U.S. The result was better-than-expected. Analysts were anticipating an increase of 0.3%. In Europe, same-store-sales increased 3.3% while analysts had [...]
Japan’s Suntory Beverage & Foods Ltd. has agreed to acquire, Lacozade and Ribena, two soft drink brands from GlaxoSmithKline Plc. (ADR) (NYSE: GSK) in a deal estimated at 1.35 billion pounds or $2.1 billion. The acquisition will allow Suntory, known for its beer and Yamazaki whisky, to beef up its product portfolio and gain traction [...]
Firearms maker, Smith & Wesson Holding Corp. (NASDAQ: SWHC) after the market close on Thursday said that fiscal first quarter net income rose 49%, driven by robust demand for guns. Besides, earnings and revenue also beat Street’s consensus estimate. However, analysts are concerned about the future sales trend. Analysts fear that the unusual demand seen [...] |
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