On Wednesday, Shares of Citigroup Inc. (NYSE:C), lost -0.80% to $54.89.
Citigroup, declared that it has reached settlements with the United States Department of Justice (DOJ) and the Board of Governors of the Federal Reserve System (Fed) to resolve investigations into Citi’s foreign exchange business.
The settlement with the DOJ comprises a guilty plea by Citicorp, a partner of Citigroup Inc., to a violation of the Sherman Antitrust Act and fine of $925 million. The settlement with the Fed comprises the entry of a cease and desist order and a civil money penalty of $342 million. Citi also declared that it has reached a separate agreement to settle related private U.S. class action claims for a payment of $394 million, subject to court approval.
Citigroup Inc., a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions worldwide. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
At the end of Wednesday’s trade, Shares of Abbott Laboratories (NYSE:ABT), gained 0.27% to $49.14, hitting its highest level.
On April 22, Abbott Laboratories, declared financial results for the first quarter ended March 31, 2015.
- First-quarter worldwide sales of $4.9 billion raised 10.0 percent on an operational basis, counting double-digit growth in emerging markets. Worldwide sales raised 3.0 percent on a stated basis.
- Adjusted diluted EPS from ongoing operations, which excludes specified items, was $0.47 in the first quarter, above previous guidance range and representing growth of 38.2 percent. Stated diluted EPS from ongoing operations under GAAP was $0.35.
- Abbott’s full-year 2015 adjusted EPS guidance range for ongoing operations remains unchanged at $2.10 to $2.20. Projected full-year 2015 EPS for ongoing operations under GAAP is $1.33 to $1.43.
- In February, Abbott accomplished the sale of its developed markets branded generics pharmaceuticals business to Mylan. The Established Pharmaceuticals business is now focused entirely on emerging markets.
- Abbott launched several new products startning this year, counting FreeStyle® Libre Pro Flash Glucose Monitoring System for professional use in India; new slim-designed blood glucose meter FreeStyle Precision Neo in the U.S.; TECNIS® Multifocal Low Add and TECNIS Preloaded intraocular lenses (IOLs) in the U.S.; a new drug-eluting stent system XIENCE AlpineTM in Japan; and Ensure® for retail adult nutrition in China.
- In March, Abbott opened a new state-of-the-art nutrition pilot plant in Singapore, which also will serve as an R&D hub in Asia and allow Abbott to more rapidly incorporate local consumer preferences.
Abbott Laboratories manufactures and sells health care products worldwide. Its Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome; intrahepatic cholestasis or depressive symptoms; gynecological disorders; dyslipidemia; hypertension; hypothyroidism; pain, fever, and inflammation; hormone replacement therapy; anti-infective and influenza vaccines; and product that regulates physiological rhythm of the colon.
Finally, Teck Resources Limited (NYSE:TCK), ended its last trade with 0.08% gain, and closed at $13.03.
Teck Resources, declared that it has attained 1,500,000 units of Artha Resources Corporation at a deemed price of $0.12 per unit. Each unit comprises of one common share and one-half of one warrant, with each whole warrant entitling the holder to purchase for 24 months from the date of issuance a common share of Artha at an exercise price of $0.18 per share. The acquisition was made in connection with the termination of an option agreement between Teck and Artha on an exploration property.
Combined with previous holdings, Teck holds 1,750,000 Artha common shares and 750,000 warrants. If Teck were to exercise the warrants it would hold about 23.9% of Artha’s outstanding common shares, calculated on a partially diluted basis assuming the exercise of the Teck warrants only. Any exercise of warrants that would result in Teck owning more than 19.9% of Artha’s outstanding common shares would be subject to Artha shareholder approval.
Teck Resources Limited explores, develops, and produces natural resources in the Americas, the Asia Pacific, Europe, and Africa. Its principal products comprise copper, counting copper concentrates and cathode copper; steelmaking coal; and refined zinc and zinc concentrates.
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