On Monday, in the course of current trade, Shares of Ford Motor Co. (NYSE:F), gained 0.66%, and is now trading at $15.27.
A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of The American Road Insurance Company (TARIC) (Dearborn, MI). The outlook for both ratings is stable.
The ratings reflect TARIC’s excellent capitalization level, history of positive operating performance, conservative reserving practices and effective exposure administration. Over the past five years, the company’s after-tax five-year return on surplus has averaged 10%, primarily driven by underwriting. TARIC has consistently logged operating income in each of those years. Capital and surplus levels have declined by 7% over the same period; however, this modest decline is primarily attributed to extraordinary dividends of $154 million to its parent over a five-year period that began in 2010. This is reflective of TARIC’s established dividend policy, even though TARIC’s surplus growth levels have been through the accumulation of net profits. Notwithstanding, there is considerable flexibility in the dividend as evidenced in 2012 and 2013 when no dividend was paid. Additionally, the company continues to maintain an excellent level of capitalization and strong synergies with its ultimate parent, Ford Motor Company (Ford).
TARIC is a single parent or pure captive insurer wholly owned by Ford Motor Credit (Ford Credit), which in turn is a wholly owned by Ford. TARIC provides a variety of coverages to its ultimate parent, Ford, and its auxiliaries in the United States and Canada.
Ford Motor Company manufactures and distributes automobiles worldwide. The company operates through two sectors, Automotive and Financial Services. The Automotive sector develops, manufactures, distributes, and services vehicles, parts, and accessories.
During an Early trade, Shares of Windstream Holdings, Inc. (NASDAQ:WIN), dipped -1.41%, and is now trading at $8.02. The stock has the beta value of 0.81, and its volatility for the week is 3.95%, while for the month it is 4.84%. The company has the market capitalization of $820.67M. The company holds the book value per share of 0.95, whereas cash per share is 0.73. Price to book ratio remained 8.57, while price to sale ratio is 0.14. Analysts mean recommendation for the stock is said to be 2.90. (where 1=Buy, 5=sale).
Windstream Holdings, Inc. provides communications and technology solutions in the United States. It offers managed services and cloud computing services to businesses, in addition to broadband, voice, and video services to consumers primarily in rural markets.
Shares of American Express Company (NYSE:AXP), during its Monday’s current trading session fell -0.60%, and is now trading at $79.24.
American Express said company President Ed Gilligan died suddenly Friday after falling ill while flying on a corporate plane to New York, according to AP.
Gilligan, 55, was coming back from a business trip. The plane made an emergency landing in the U.S., an American Express spokeswoman said. She declined to say where Gilligan had been.
“This is deeply painful and frankly unimaginable for all of us who had the great fortune to work with Ed,” said American Express CEO Ken Chenault, in a letter to employees Friday.
Gilligan began working at the New York credit card issuer and global payments company 35 years ago as an intern. He was named president of the company in 2013 and stated to Chenault.
American Express said he is survived by his wife and four children, AP Reports.
American Express Company, together with its auxiliaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. The company operates through four segments: U.S. Card Services, International Card Services, Global Commercial Services, and Global Network & Merchant Services.
Finally, Las Vegas Sands Corp. (NYSE:LVS), lost -1.55% Monday.
Las Vegas Sands Corp., received notice of an unsolicited mini-tender offer by TRC Capital Corporation to purchase up to 2,500,000 shares of LVS’s common stock at a price of $47.63 per share in cash, without interest. The offering price is about 4.61 percent below the closing price per share of LVS’s common stock on May 26, 2015, the last trading day before the mini-tender offer was commenced. The offer is for about 0.31 percent of the outstanding shares of LVS’s common stock.
LVS does not endorse this unsolicited mini-tender offer and recommends that shareholders reject the offer because the offer price is below the current market price for LVS shares and is subject to numerous conditions, counting TRC Capital obtaining sufficient financing necessary to consummate the offer. LVS also recommends that any shareholders who have tendered shares to TRC Capital withdraw those shares by providing the written notice described in the offering documentation before the expiration of the offer, which is presently planned for 12:01 a.m. Eastern Time on June 25, 2015.
LVS is not associated with TRC Capital, its mini-tender offer or the mini-tender offer documentation.
Las Vegas Sands Corp. develops, owns, and operates integrated resorts in Asia and the United States. The company owns and operates The Venetian Macao Resort Hotel, Sands Cotai Central, the Four Seasons Hotel Macao, the Plaza Casino, and the Sands Macao in Macau, the People’s Republic of China.
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