Shares of American International Group Inc (NYSE:AIG), lost -1.84% to $62.81.
American International Group, Inc. (AIG) declared recently that it has priced the sale of 361 million ordinary H shares of PICC Property and Casualty Company Limited (PICC P&C) by means of a placing to certain institutional investors.
Upon the closing of the placing, which is planned for December 10, 2015, and is subject to customary closing conditions, AIG will receive gross proceeds of about US$751.8 million, based upon a purchase price of HK$16.14 (about US$2.08) per share. Thereafter, AIG will continue to be the largest holder of PICC P&C H shares, with a position of about 851 million shares, representing 5.74 percent of the total issued share capital of PICC P&C.
“During our third quarter earnings call, we revealed that narrowing our focus is one of AIG’s four planned priorities,” said Peter D. Hancock, President and Chief Executive Officer of AIG. “By ongoing to de-risk our position in PICC P&C, we are focusing AIG’s capital in our core markets and enhancing our financial flexibility. We continue to greatly value our planned partnership with PICC P&C.”
Shares of Xerox Corp (NYSE:XRX), declined -2.91% to $10.18, during its last trading session.
CDP, an international environmental organization, has named Xerox (XRX) as a leader in providing reliable information about carbon emissions and energy use to investors and the global marketplace.
The recognition comes as COP21, the United Nations climate change conference in Paris gets underway, where national leaders will meet to work on a global deal to reduce carbon emissions and limit temperature warming.
“As the world looks beyond the Paris climate change negotiations and prepares for a low carbon future, reliable information about how companies are responding to the transition will be ever more valuable,” said Paul Dickinson, executive chairman and co-founder of CDP, a not-for-profit, non-governmental organization that collects self-stated climate change, water and forest risk data. “For this reason we congratulate those businesses that have achieved a position on CDP’s Climate Disclosure Leadership Index,” he said.
Xerox was named to the S&P Climate Disclosure Leadership Index (CDLI) for the quality of its carbon emissions and energy reporting that it submits to CDP’s climate change program. The stated data has been independently assessed against CDP’s scoring methodology and out of a possible 100, Xerox scored 99. Only organizations graded within the top 10 per cent are comprised in the leadership index.
Finally, Shares of Medtronic PLC (NYSE:MDT), ended its last trade with -0.24% loss, and closed at $77.95.
Medtronic plc, declared financial results for its second quarter of fiscal year 2016, which ended October 30, 2015.
Unless otherwise noted, all revenue growth rates in this press release are stated on a comparable, constant currency basis, which adjusts for the impact of foreign currency translation and comprises Covidien plc in the preceding year comparison, aligning Covidien`s preceding year monthly revenue to Medtronic`s fiscal quarters. For additional revenue detail and the reconciliation of these revenue amounts and growth rates to the most directly comparable GAAP financial measures, please refer to the link at the end of this release.
The company stated second quarter worldwide revenue of $7.058 billion, an improvement of 6 percent. Foreign currency translation had a negative $452 million impact on revenue. As stated, revenue raised 62 percent when contrast to the $4.366 billion stated by Medtronic, Inc. in the second quarter of fiscal year 2015. As detailed in the financial plans comprised through the link at the end of this release, second quarter non-GAAP net income and diluted earnings per share (EPS) were $1.469 billion and $1.03, improvements of 45 percent and 1 percent, respectively. As stated, second quarter net income and diluted EPS were $520 million and $0.36, decreases of 37 percent and 57 percent, respectively. This decline in GAAP earnings was driven primarily by a non-recurring certain tax adjustment resulting from the company`s formerly revealed September 28, 2015, internal reorganization due to the Covidien integration, which allowed about $9.8 billion ($9.3 billion net of tax) of cash, cash equivalents, and investments in marketable debt and equity securities formerly held by U.S.-controlled non-U.S. auxiliaries to be available for general corporate purposes.