On Monday, Shares of Alcoa Inc (NYSE:AA), gained 5.90% to $9.60.
Alcoa is recently announcing that its Board of Directors has unanimously approved a plan to separate into two independent, publicly-traded companies, culminating Alcoa’s successful multi-year transformation. The separation will launch two industry-leading, Fortune 500 companies. The globally competitive Upstream Company will comprise five strong business units that recently make up Global Primary Products - Bauxite, Alumina, Aluminum, Casting and Energy. The innovation and technology-driven Value-Add Company will comprise Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The transaction is predictable to be accomplished in the second half of 2016. At that point Alcoa shareholders will own all of the outstanding shares of both the Upstream and Value-Add Companies. The separation is intended to qualify as a tax-free transaction to Alcoa shareholders for U.S. federal income tax purposes.
Both independent companies will attract an investor base best suited to their unique value proposition and operational and financial characteristics. Both entities will be capitalized prudently, with the Value-Add Company targeting an investment grade rating and the Upstream Company a strong non-investment grade rating. After the separation, the Upstream Company, with its strong history in the aluminum and alumina markets, will operate under the Alcoa name. The Value-Add Company will be named before closing.
Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions.
Shares of Itau Unibanco Holding SA (ADR) (NYSE:ITUB), declined -2.99% to $6.32, during its last trading session, as some Brazil-based U.S. traded stocks decline together with the South American country’s currency.
Brazil’s real fell as data from China showed a decline in the country’s manufacturing, Bloomberg reports. China is Brazil’s largest trading partner.
Itau Unibanco Holding S.A. (Itau Unibanco Holding) is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil.
Shares of Cemex SAB de CV (ADR) (NYSE:CX), declined -4.88% to $6.63, during its last trading session.
Cemex SAB de CV, declared recently that, after reaching close to 7 million beneficiaries through its social programs, it has set the aim of benefiting more than 10 million people by the year 2020. CEMEX made the declaration during the United Nations Private Sector Forum 2015 meetings held in New York City, attended by Fernando A. Gonzalez, Chief Executive Officer of CEMEX.
CEMEX supports infrastructure and housing development in the communities where it operates. Among its efforts, it is establishing community centers for construction training and education and empowering customers at the bottom of the socio-economic pyramid through different self-construction assistance initiatives, such as renowned Patrimonio Hoy and Assisted Self-Construction Integrated Program (PIAC).
CEMEX is working alongside organizations such as Habitat for Humanity, the Inter-American Development Bank, and the Clinton Global Initiative to achieve this ambitious aim.
CEMEX, S.A.B. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in more than 50 countries throughout the world.
Finally, Wal-Mart Stores, Inc. (NYSE:WMT), ended its last trade with -0.14% loss, and closed at $63.68.
Thirteen Chambers of Commerce across the U.S. received $5,000 each in startup funds to launch the Young Entrepreneurs Academy (YEA!) in new communities. The donation-$2,500 from Sam’s Club, matched by $2,500 from the U.S. Chamber of Commerce Foundation (USCCF)—opens doors for students across the country ages 11 to 18 to go through the process of starting and launching a real business or social movement over the course of an academic year.
YEA! is an innovative after-school educational program that works to transform middle and high school students into confident entrepreneurs. By the end of the 30-week class, students own and operate fully-formed and functioning businesses, which may be carried on after their graduation from the program.
Sam’s Club, USCCF and YEA! joined forces earlier this year to fuel growth and support for youth entrepreneurship and the future of small business in more than 100 U.S. communities. As a result of the collaboration, 13 new YEA! chapters will launch this year with the support of local Chambers of Commerce and the business community.
Wal-Mart Stores, Inc. is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company’s operations are conducted in three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment operates retail stores in all 50 states in the United States, Washington D.C. and Puerto Rico, with three primary store formats, as well as digital retail.
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