Month: December 2012

HSBC Holdings plc ( HBC ) has divested its entire stake (15.6%) in Chinese insurance giant Ping An Insurance (Group) Company of China, Ltd to Thailand-based Charoen Pokphand Group for an estimated $9.4 billion (HK $72.7 billion). HSBC expects to earn a post-tax gain of $2.6 billion on the sale after deducting the carrying value of investment in Ping An and the reclassification of the connected foreign exchange and other reserves. […]

Energy Transfer Partners, L.P. ( ETP ) and Regency Energy Partners LP ( RGP ) announced the completion of Lone Star West Texas Gateway NGL Pipeline prior to its scheduled time. The pipeline was planned to be finished in the first quarter of 2013. […]

General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics Corporation ( GD ), announced that it has finalized a contract with TOTE Inc., for the design and construction of two 3,100 TEU LNG-powered containerships. When completed the 764-foot-long containerships are expected to be the largest ships of any type in the world primarily powered by liquefied natural gas. Construction is scheduled to begin in the first quarter of 2014, with first delivery to occur by the fourth quarter of 2015 […]

We are downgrading our recommendation on leading fertilizer company Agrium Inc. ( AGU ) to Neutral factoring in its weak fourth quarter outlook. The company posted tepid third-quarter 2012 results with adjusted earnings of $1.11 per share trailing the Zacks Consensus Estimate of $1.81. […]

Consolidated same-store sales at The TJX Companies Inc. ( TJX ), an off-price retailer of apparel and home fashions, climbed 3.0% year over year in the four-week period ended November 24, 2012. […]

Intel Corp. ( INTC ), the world’s largest manufacturer of semiconductor products, has recently announced the pricing of senior unsecured notes aggregating $6 billion. These bonds have been issued in four tranches of different amounts, with varying coupon rates and maturities. […]

Beverage giant The Coca-Cola Company ( KO ) and dairy cooperative Select Milk Producers, Inc recently announced their decision to purchase equity stakes in Fair Oaks Farms Brands, LLC, a company that produces and markets value added nutrition products, including Core Power, a popular high protein milk shake. As it is, Core Power is distributed by Coca-Cola Refreshments (a Coca-Cola subsidiary) and is well accepted among consumers. The acquisition of stakes in Fair Oaks will bring together the technological expertise, sustainability and innovation of Select and Coca Cola’s brand building and distribution capabilities. […]

Avis Budget Group Inc. ( CAR ) and PortAventura, a popular theme park and resort in Spain, have collaborated, making Avis Car Rental and Budget Car Rental the latter’s official car renting partners. The two parties entered into one-of-a-kind concession and marketing agreement that extends over several years via which Avis Budget will provide vehicle services at Hotel PortAventura. […]

Theravance, Inc. ( THRX ) recently announced the commencement of a phase II study (n~375) regarding its pipeline candidate TD-9855. The proof-of-concept study is designed to evaluate the safety and efficacy of two doses of TD-9855 versus placebo in patients suffering from fibromyalgia, a chronic functional illness. […]

FedEx Corporation ( FDX ), one of the leading global delivery companies, announced plans to downsize its workforce in the U.S. The company intends to offer two years salary in advance so as to expedite voluntary retirement of employees beginning next year. […]

Netflix Inc. ( NFLX ) has entered into a multi-year licensing agreement with Walt Disney Company ( DIS ) for the exclusive right to stream the latter’s content to its U.S. […]

Advanced Micro Devices Inc. ( AMD ) signed a global distribution agreement with Symmetry Electronics, a distribution leader in the embedded market. According to the agreement, Symmetry Electronics will promote, sell and support the full range of AMD embedded products, including the new entrant AMD Embedded R-Series accelerated processing units (APUs) […]