On Wednesday, Unum Group (NYSE:UNM)’s shares inclined 2.00% to $36.79.
Consumer Federation of America and Unum Group (UNM)released the results of a survey of more than 500 benefits decision-makers at small employers regarding their views on long-term disability insurance (LTD). The findings reveal that employers, whether they offer the benefit or not, understand the value of this insurance for employees, and that those who offer it also believe it serves the interests of their company. Employers not offering LTD are more likely to overestimate the cost of this insurance, underestimate the desire of employees for this coverage, and to experience difficulty managing disabled employees and their absences.
The research released recently represents the third joint research effort by CFA and Unum. In April 2012, the two organizations released the findings of a nationwide survey of employee attitudes and knowledge about disability insurance, and in September 2013, they released a report based on interviews with individuals who had become disabled and were receiving disability benefits through their employer’s plan.
Unum Group, together with its auxiliaries, provides group and individual disability insurance products in the United States and the United Kingdom. The company operates through three segments: Unum US, Unum UK, and Colonial Life. It provides group long-term and short-term disability, group life, accidental death and dismemberment, individual disability, supplemental and voluntary products, and group and individual long-term care insurance products, in addition to acid
KKR & Co. L.P. (NYSE:KKR)’s shares gained 0.88% to $23.05.
Bayer AG has reached a definitive agreement to sell its Diabetes Care business to Panasonic Healthcare Holdings Co., Ltd., a company which is backed by funds sponsored by leading global investment firm KKR & Co. L.P. (KKR) and the Panasonic Corporation. The total consideration for the transaction is EUR 1,022 million (JPY 138 billion). The sale will comprise the leading Contour™ portfolio of blood glucose monitoring meters and strips, in addition to other products such as Breeze™2, Elite™ and Microlet™ lancing devices. Closing of the transaction is subject to customary conditions, counting relevant antitrust clearance, and is predictable to occur in the first quarter of 2016.
Johannes Huth, Member and Head of KKR Europe, Africa and Middle East, and Hiro Hirano, Member and CEO of KKR Japan, said, “We are happy that Bayer Diabetes Care chose Panasonic Healthcare and KKR as the trusted partners for bringing the business to its next stage of development. This is another milestone in KKR’s track record of partnering with leading German and Japanese corporate and in growing top health care companies. Together, we will leverage our experience and network to create a global diabetes care solutions powerhouse in an effort to make this a transformational transaction for the diabetes care industry.”
Bayer’s Diabetes Care business is a technological leader in blood glucose monitoring systems, lancing devices and diabetes administration software. The business accounted for EUR 909 million in sales in 2014, with Contour™ being the principal product portfolio. The Contour™ portfolio comprises Contour™ Next, Contour™ Plus, Contour™ and Contour™ TS and is designed to meet the needs of all patients regardless of type of diabetes, stage of disease, or testing frequency. Other products comprise Breeze™2, Brio™, Entrust™, Elite™ and Microlet™ lancing devices.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments.
At the end of Wednesday’s trade, FMC Technologies, Inc. (NYSE:FTI)‘s shares surged 1.79% to $43.25.
FMC Technologies, Inc. (FTI) declared the completion of the formation of a joint venture (JV) – Forsys Subsea – wherein the oilfield equipment manufacturer and Technip SA have 50% ownership each. The JV started operations from Jun 1, 2015. By combining the technology and expertise of the two subsea industry leaders, the joint venture company will be capable of assisting the upstream energy players in efficiently getting their first oil at a minimum cost.
After using Forsys Subsea’s new technology, the upstream players can enhance their profits by lowering operating costs in this weak crude pricing environment. FMC Technologies added that the newly formed company has its headquarters in London and is predictable to have a headcount of 320.
FMC Technologies added that the newly formed company has its headquarters in London and is predictable to have a headcount of 320.
Houston, TX-based FMC Technologies is a leading manufacturer and supplier of technology solutions for the energy industry. The company presently carries a Zacks Rank #3 (Hold), implying that the stock will perform in line with the broader U.S. equity market over the next one to three months.
FMC Technologies, Inc. provides technology solutions for the energy industry worldwide. The company operates through Subsea Technologies, Surface Technologies, and Energy Infrastructure segments. The Subsea Technologies segment offers subsea systems for the offshore production of crude oil and natural gas; and well access and flow administration services, counting installation and workover tools, service technicians for installation assistance, and field support services.
SunPower Corporation (NASDAQ:SPWR), ended its Wednesday’s trading session with 5.23% gain, and closed at $31.58.
A joint venture between two solar PV makers has set its terms for an initial public offering (IPO) that is predictable to price next week. 8point3 Energy Partners is a solar energy yieldco formed by SunPower Corp. (NASDAQ: SPWR) and First Solar Inc. (NASDAQ: FSLR).
The new company’s initial portfolio of assets comprises 262 megawatts of generation from four First Solar-owned plants and 163 megawatts of generation from SunPower-owned plants. The partners have also award rights of first offer to 8point3 on another 1,143 megawatts of generation.
8point3 is organized as a limited partnership and will be treated as a corporation for U.S. federal income tax purposes. Distributions to the holders of the company’s shares will be taxable as ordinary dividend income to the extent of 8point3’s current and accumulated earnings and profits as computed for U.S. federal income tax purposes. The company anticipates to pay an annual distribution of $0.8388 per share initially, and it is targeting its annual distribution growth rate at 12% to 15% per share for the three years following the IPO.
SunPower Corporation designs, manufactures, and delivers solar systems to residential, commercial, and utility-scale power plant customers worldwide. The company offers solar power components, counting panels, balance of system components, and inverters. It also offers rooftop and ground-mounted solar power systems, counting residential systems, commercial roof and ground mounted systems, utility and power plant systems, and utility-scale photovoltaic power plants.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
