On Friday, Shares of Avago Technologies Ltd (NASDAQ:AVGO), lost -3.11% to $111.45.
Avago Technologies Limited and Broadcom Corporation, declared the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired with regard to their formerly declared transaction.
The expiration of the HSR Act waiting period satisfies one of the conditions to the closing of the projected transaction, which remains subject to approval by Avago and Broadcom shareholders, antitrust clearance in certain foreign jurisdictions and other customary closing conditions. Closing of the transaction is still predictable by the end of the first calendar quarter of 2016.
Additional information concerning the projected transaction is comprised of in the Registration Statement on Form S-4 (which contains a preliminary joint proxy statement/prospectus), which was filed by Pavonia Limited (“Holdco”) and Safari Cayman L.P. (“Holdco LP”) with the Securities and Exchange Commission on July 29, 2015.
Avago Technologies Limited designs, develops, and supplies semiconductor devices with a focus on analog III-V based products. The company operates through four segments: Wireless Communications, Wired Infrastructure, Enterprise Storage, and Industrial & Other segments.
Shares of Tyson Foods, Inc. (NYSE:TSN), declined -4.10% to $41.67, during its last trading session.
Tyson Fresh Meats, a partner of Tyson Foods, is reducing its beef production capacity due to a continued lack of accessible cattle. Effective recently, the company will permanently cease beef operations at its plant in Denison, Iowa, to better align its overall production capacity with current cattle supplies.
“This was a very difficult decision because it affects the lives of our people, their families and a community that has supported this plant for more than 50 years,” said Steve Stouffer, president of Tyson Fresh Meats. “However, the realities of the beef business have changed and we must continue to change with it to remain successful.
“The cattle supply is tight and there’s an excess of beef production capacity in the region,” he said. “We believe the move to cease beef operations at Denison will put the rest of our beef business in a better position for future success.”
Tyson Foods, Inc., together with its auxiliaries, produces, distributes, and markets chicken, beef, pork, prepared foods, and related allied products worldwide. The company breeds and raises chickens; and processes live chickens into fresh, frozen, and value-added chicken products. It also processes live fed cattle, and live market hogs and allied products; fabricates pork and dressed beef carcasses into primal and sub-primal cuts and case-ready products; and sells hides and meats. In addition, the company manufactures and markets frozen and refrigerated food products, such as pepperoni, bacon, beef and pork pizza toppings, pizza crusts, flour and corn tortilla products, appetizers, prepared meals, ethnic foods, soups, sauces, side dishes, meat dishes, and processed meats.
At the end of Friday’s trade, Shares of SanDisk Corporation (NASDAQ:SNDK), lost -2.15% to $49.05.
SanDisk Corporation introduced the first SSD upgrade service with live video support. The SanDisk SSD Concierge Service offers full support for SanDisk solid-state drive (SSD) installations1 and is designed to simplify upgrades for consumers of all technical backgrounds.
“Many customers understand the benefits an SSD can bring to an aging laptop but they also feel anxious about performing an upgrade by themselves,” said Philippe Willams, director of product marketing, SanDisk. “The SanDisk SSD Concierge Service’s step-by-step live support will give consumers the confidence to install an SSD and enjoy the benefits of speed, performance, and reliability.”
Upgrading an aging laptop with an SSD can greatly improve performance and is more cost effective than purchasing a new one. With advanced flash memory storage and significantly faster speeds, SSDs outpace traditional hard-disk drives (HDDs) in every performance category2. In addition, SSDs run cooler, create less noise, and use less power, which assists extend laptop battery life, and reduce the strain on limited system resources.
SanDisk Corporation designs, develops, manufactures, and markets data storage solutions in the United States and internationally. The company offers removable cards, which are used in various applications and consumer devices, counting digital cameras, camcorders, smartphones, tablets, and eReaders under the SanDisk Ultra, SanDisk Extreme, and SanDisk Extreme PRO brands; and embedded products that are used in mobile phones, tablets, notebooks, and other portable and wearable devices, in addition to in automotive and connected home applications under the brand name iNAND.
Finally, AES Corp (NYSE:AES), ended its last trade with -2.52% loss, and closed at $12.00.
AES Corporation, stated Adjusted Earnings Per Share (Adjusted EPS, a non-GAAP financial measure) of $0.25 for the second quarter of 2015, a decrease of $0.03 from second quarter 2014, mainly due to the timing of planned maintenance at certain businesses, a stronger US Dollar, lower demand and contracting strategy in Brazil, as well as the $0.02 net impact from the reversal of liabilities in Brazil and Europe. These negative impacts were largely offset by improved hydrology in Panama and Colombia, the Company’s capital allocations and a lower adjusted effective tax rate of 30% in 2015 as compared to 40% in 2014.
Second quarter 2015 Diluted Earnings Per Share from Ongoing Operations was $0.10, a decrease of $0.10 from second quarter 2014, largely driven by raised debt extinguishment expense of $0.11 primarily related to costs incurred to retire and refinance expensive near-term debt maturities.
Second quarter 2015 Proportional Free Cash Flow (a non-GAAP financial measure) was $62 million, an enhance of $15 million from second quarter 2014, primarily driven by lower Parent interest and improved working capital and hydrological conditions at the Company’s Mexico, Central America and the Caribbean Planned Business Unit (MCAC SBU). This was partially offset by a higher tax payment at Chivor in Colombia and unfavorable hydrological conditions at the Company’s generation business, Tiete, in Brazil.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries.
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