On Wednesday, Thermo Fisher Scientific Inc. (NYSE:TMO)’s shares inclined 0.70% to $139.62.
Thermo Fisher Scientific Inc. (TMO) declared that it has priced an offering of €500 million aggregate principal amount of 2.150% Senior Notes due 2022 at an issue price of 99.788% of the principal amount. The issuance of the notes is predictable to close on or about July 21, 2015, subject to customary closing conditions. The notes will pay interest on an annual basis. Thermo Fisher plans to use the net proceeds of the offering for general corporate purposes.
The joint book-running managers for the offering are BNP Paribas and HSBC Bank plc.
The offering is being made following an effective registration statement on Form S-3 (counting a prospectus) filed with the U.S. Securities and Exchange Commission (“SEC”). Prospective investors should read the prospectus forming a part of that registration statement and the prospectus supplement related to the offering and the other documents that the company has filed with the SEC for more complete information about the company and this offering.
Thermo Fisher Scientific Inc. provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics worldwide. The company’s Life Sciences Solutions segment offers reagents, instruments, and consumables used in biological and medical research, discovery, and production of new drugs and vaccines, in addition to diagnosis of diseases. This segment serves pharmaceutical, biotechnology, agricultural, clinical, academic, and government markets. Its Analytical Instruments segment provides instruments, consumables, software, and services for applications in the laboratory, on the production line, and in the field.
Packaging Corp Of America(NYSE:PKG)’s shares gained 1.39% to $70.81.
Packaging Corporation of America (PKG) declared that its Board of Directors has authorized the repurchase of an additional $150 million of the company’s outstanding common stock. Together with remaining authority under formerly declared programs, the company may repurchase about $205 million of additional shares.
Repurchases may be made from time to time in open market or privately negotiated transactions in accordance with applicable securities regulations. The timing and amount of repurchases will be determined by the company in its discretion based on factors such as PCA’s stock price and market and business conditions.
Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States, Europe, Mexico, and Canada. The company’s Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that assist to merchandise the packaged product in retail locations; and honeycomb protective packaging.
At the end of Wednesday’s trade, Fortune Brands Home & Security Inc(NYSE:FBHS)‘s shares surged 2.19% to $47.67.
Fortune Brands Home & Security, Inc. (FBHS), an industry-leading home and security products company, declared second quarter 2015 results from ongoing operations and updated its 2015 annual outlook for earnings per share.
Second Quarter 2015
For the second quarter of 2015, sales were $1.17 billion, an enhance of 13 percent over the second quarter of 2014. Earnings per share were $0.48, contrast to $0.51 in the preceding-year quarter. EPS before charges/gains were $0.59, contrast to $0.51 the same quarter last year. Operating income was $128.2 million, contrast to $125.5 million in the preceding-year quarter. Operating income before charges/gains was $150.5 million, contrast to $125.6 million the same quarter last year.
For each segment in the second quarter of 2015, contrast to the preceding-year quarter:
- Cabinet sales raised 18 percent to the preceding year. Not taking into account the impact of the Norcraft acquisition, sales raised 8 percent, with the dealer channel growing 10 percent and in-stock cabinet and vanities increasing high teens.
- Plumbing sales raised 5 percent, with growth across the U.S. wholesale and retail channels, offset somewhat by the impact of Canadian currency and slower China sales.
- Door sales were up 6 percent with growth in both the wholesale and retail channels.
- Security sales raised 28 percent driven by the SentrySafe acquisition.
Fortune Brands Home & Security, Inc. provides home and security products for use in residential home repair, remodeling, new construction, security applications, and storage. It operates in four segments: Cabinets, Plumbing, Doors, and Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, in addition to vanities for the kitchen, bath, and other parts of the home under various brand names, counting Aristokraft, Kitchen Craft, Kitchen Classics, Omega, Schrock, Homecrest, Decorá, Diamond, St. Paul, Kemper, Thomasville, and Martha Stewart Living in North America.
Olin Corporation(NYSE:OLN), ended its Wednesday’s trading session with 2.02% gain, and closed at $23.20.
The Dow Chemical Company and Olin Corporation (OLN) declared the achievement of a regulatory milestone in the projected transaction involving a noteworthy portion of Dow’s chlorine value chain and Olin Corporation, with the expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976.
As formerly declared on March 27, 2015, Dow and Olin reached a definitive agreement under which Dow will separate its U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses, and then merge these businesses with Olin in a Reverse Morris Trust transaction. The merger will result in Dow shareholders receiving at least a majority of the shares of Olin, with existing Olin shareholders owning the remaining shares.
Olin Corporation manufactures and sells chlor alkali products in the United States and internationally. The company operates through three segments: Chlor Alkali Products, Chemical Distribution, and Winchester. The Chlor Alkali Products segment provides chlorine/caustic soda that is used in pulp and paper processing, chemical manufacturing, and water purification, in addition to in the manufacture of vinyl chloride, bleach, swimming pool chemicals, and urethane chemicals; sodium hypochlorite for use in household cleaners, laundry bleaching, swimming pool sanitizers, semiconductors, water treatment, textile, pulp and paper, and food processing; and hydrogen used in fuel source, hydrogen peroxide, and hydrochloric acid.
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