On Thursday, Sunstone Hotel Investors Inc (NYSE:SHO)’s shares inclined 1.44% to $13.42.
Sunstone Hotel Investors, Inc.(SHO) declared that it has sold BuyEfficient, the premier online purchasing portal dedicated to serving the hospitality industry, to Avendra, LLC.
The sale of BuyEfficient is predictable to reduce fourth-quarter 2015 Adjusted EBITDA and Adjusted FFO by about $0.625 million and net income by about $0.375 million. Fourth-Quarter and full year 2015 Adjusted EBITDA, Adjusted FFO and net income impact excludes one-time costs resulting from the transaction.
Sunstone Hotel Investors, Inc. operates as a real estate investment trust. The firm engages in the acquisition, ownership, asset administration, renovation, and sale of luxury, upper upscale, and upscale full-service hotels in the United States.
DaVita HealthCare Partners Inc (NYSE:DVA)’s shares dropped -0.39% to $72.05.
DaVita HealthCare Partners Inc. (DVA), a leading global provider of kidney care services and a leading independent medical group in the United States, declared plans to start operations in Brazil. The company, which operates in 11 countries serving more than 1.5 million patients, aims to bring its global expertise and leading clinical outcomes to the country.
DaVita plans to assist Brazilian physicians grow their practice by providing them access to a worldwide network of experts, best-in-class training programs and the most advanced clinical and administrative service standards. There are more than 110,000 Brazilians on dialysis, a number that many studies suggest is on the rise due to the increasing prevalence of chronic kidney disease in the country.
DaVita and DaVita HealthCare Partners are trademarks or registered trademarks of DaVita HealthCare Partners Inc. All other trademarks are the property of their respective owners.
DaVita HealthCare Partners Inc. provides kidney dialysis services for patients suffering from chronic kidney failure or end stage renal disease (ESRD). The company operates in two divisions, Kidney Care and HealthCare Partners. It operates kidney dialysis centers and provides related lab services primarily in outpatient dialysis centers and in contracted hospitals.
At the end of Thursday’s trade, TRI Pointe Group Inc (NYSE:TPH)‘s shares surged 1.60% to $13.30.
TRI Pointe Homes Northern California ( TPH), a member of the TRI Pointe Group, declared recently the launch of TRI Pointe Connect as its in-house mortgage company, making California the eighth state in the nation to offer mortgage services through the new company.
TRI Pointe Connect will offer an integrated team of mortgage loan consultants on-site in the Northern California market, who will provide personalized service, competitive rates, and a wide portfolio of mortgage products to TRI Pointe Homes homebuyers — all intended to make the home buying process simple and smooth.
Formed as a joint venture between TRI Pointe Group and imortgage, a division of loan Depot LLC, TRI Pointe Connect opened its doors in California following launches earlier this year in Arizona, Colorado, Washington, Texas, Maryland, Virginia and Nevada.
TRI Pointe Group, Inc., through its partner, TRI Pointe Homes, Inc. designs, constructs, and sells single-family homes in the United States. The company also develops and sells land and lots. It operates a portfolio of six brands across eight states, counting Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia.
Qihoo 360 Technology Co Ltd (NYSE:QIHU), ended its Thursday’s trading session with -0.33% loss, and closed at $47.67.
Qihoo 360 Technology Co. Ltd. (“Qihoo 360” or the “Company”) (QIHU), a leading Internet company in China, recently declared that it has issued a notice to Coolpad Group Limited (“Coolpad”) (2369.HK) to exercise its put option to require Coolpad to purchase the Company’s entire 49.5% stake in Coolpad E-Commerce Inc., a joint venture between the Company and Coolpad set up in December 2014 to focus on mobile terminal products that are distributed through Internet as the primary channel, in accordance with the shareholders agreement regarding the joint venture.
Under the shareholders agreement, the Company has a put option to sell its entire stake in the joint venture to Coolpad at a total price equal to twice its fair market value, exercisable if Coolpad breaches its non-compete obligations under the shareholders agreement. The Company issued the notice to Coolpad to exercise this put option based on a series of breaches by Coolpad of its relevant non-compete obligations.
In the notice, the Company has projected a fair market value of US$742.5 million for the 49.5% stake, based on a US$1.5 billion valuation of the entire share capital of the joint venture. Accordingly, the purchase price payable by Coolpad would be US$1.485 billion.
Qihoo 360 Technology Co. Ltd., through its auxiliaries, provides Internet services in the People’s Republic of China. The company operates through Internet Services and Others segments. It offers various Internet security products, counting 360 Safe Guard, a one-stop solution for PC Internet security and system optimization; 360 Anti-Virus, an anti-virus application that uses multiple scan engines to protect users computers against various kinds of malware; and 360 Mobile Safe, a security program for the Google Android, Apple iOS, and Windows Phone smartphone operating systems.
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