European stocks dropped down to some extent, with France’s CAC 40 down 0.7% and Germany’s DAX dipping 0.7%. The ECB meets later this week and shareholders are looking for answers about the scope of the ECB’s bond-buying program.
Insights about U.S. Stocks that are active during the recent trade, are depicted underneath:
Bank of America Corporation (NYSE:BAC), enhanced 0.31%, and is now trading at $16.06, soon after the news release that Mobility Ventures LLC, an AM General Company, formerly on February 26, declare the contract with Bank of America (BAC) that will make it easier for consumers nationwide to receive financing of the revolutionary MV-1 - - the world’s first and only universally accessible vehicle, designed from the ground up to provide safe and comfortable transportation for all passengers counting wheelchair users. Approved applicants can use their loan to purchase a new MV-1 vehicle at the over 150 accepted MV-1 dealerships across the United States.
Under the new contract, MV-1 customers now get:
- Direct access to Bank of America financing options via a link on the Mobility Ventures website.
- Competitive interest rates and terms up to 72 months with approved credit.
- A decision within minutes of applying for credit.
“Offering this new retail financing option through Bank of America is a very noteworthy step for MV-1 in expanding support of our dealer network and customers,” said Pat Kemp, Mobility Ventures Executive Vice President. “This achieves an important and planned initiative critical to our long-term growth plan for the MV-1 consumer market. It is now easier than ever for consumers to secure financing for a new MV-1.”
Bank of America Corporation (NYSE:BAC) through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, large corporations, and governments worldwide.
NorthStar Realty Finance Corp. (NYSE:NRF)’s shares declined -3.32 %, and is now trading at $18.47, soon after the news release, NorthStar Realty Finance Corp. declared that it has priced an underwritten public offering of 60 million shares of ordinary stock, of which 40 million shares are subject to the forward sale contract described below, at a public offering price of $18.65 per share. The underwriters have been granted a 30-day option to purchase up to 9 million additional shares of ordinary stock.
The offering is predictable to close on March 6, 2015.
Deutsche Bank Securities, UBS Investment Bank, Morgan Stanley, BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse and J.P. Morgan are acting as the joint book-running managers of the offering. FBR, JMP Securities and MLV & Co. are acting as co-managers of the offering.
NorthStar Realty intends to use the net proceeds from the sale of the shares of its ordinary stock in this offering and any net proceeds that it receives upon the settlement of the forward sale contract for general corporate purposes, which may comprise, among other things:
- funding the equity portion of (i) the approximate €1.1 billion ($1.3 billion) purchase price for the attainment of a European office portfolio comprised of 11 Class A office properties located across gateway cities in seven of Europe’s top markets, and (ii) the approximate €500 million ($600 million) purchase price for a European real estate portfolio comprised of 38 properties diversified across eight countries;
- the repayment of NorthStar Realty’s indebtedness, counting amounts outstanding under NorthStar Realty’s corporate revolving credit facility with Deutsche Bank AG New York Branch, as the Administrative and Collateral Agent, and the lenders party thereto which accrues interest at a per annum rate equal to LIBOR plus 3.50% (or 3.67% per annum as of February 27, 2015) and is due on August 5, 2017; and
- additional potential attainments of healthcare, hotel, manufactured housing, net lease, multifamily and office properties, private equity fund interests and loan originations.
NorthStar Realty Finance Corp. (NYSE:NRF) a real estate investment trust (REIT), operates as a commercial real estate (CRE) investment and asset administration company in the United States. It focuses on originating, structuring, acquiring, and managing senior and subordinate debt investments secured primarily by commercial, multifamily, and healthcare properties, which comprise first mortgage loans, subordinate mortgage interests, mezzanine loans, credit tenant loans, and other loans, such as preferred equity interests in borrowers who own such properties.
Johnson & Johnson (NYSE:JNJ), dropped - 1.13%, and is now trading at $102.05, soon after Johnson & Johnson (NYSE:JNJ), declared a binding offer from Cardinal Health to attain its Cordis business for an aggregate value of $1.99 billion, comprising of $1.944 billion of cash proceeds from Cardinal Health plus about $46 million of retained net receivables. Cordis is a leader in the development and manufacture of interventional vascular technology with 2014 net proceeds of about $780 million.
“This initiative is part of our ongoing disciplined portfolio administration approach to focus on our most promising opportunities to assist patients and drive growth,” said Gary Pruden, Worldwide Chairman, Global Surgery Group, Johnson & Johnson. “Cordis has made noteworthy contributions to the field of cardiovascular care, and we believe the business has a promising future with Cardinal Health, a company with which we have a long-standing relationship. We are grateful for the many contributions that Cordis employees have made over the years.”
The acceptance period for the offer will end on May 30, 2015, unless extended, and during that time consultations with relevant works councils and trade unions are planned. If the offer is accepted, the projected transaction would be predictable to close towards the end of 2015, subject to customary closing conditions and regulatory approvals. The company will further talk about the transaction during its next quarterly earnings call on April 14, 2015.
Johnson & Johnson remains committed to the fight against cardiovascular disease through its fast-growing electrophysiology business, Biosense Webster, in the Medical Devices segment and its leading cardiovascular medicine, XARELTO®, in the Pharmaceutical segment.
Johnson & Johnson (NYSE:JNJ), together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSONS brand name; oral care products under the LISTERINE brand name; skin care products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON’S Adult, LE PETITE MARSEILLAIS, LUBRIDERM, NEUTROGENA, and RoC brand names; women’s health products, such as sanitary pads under the STAYFREE and CAREFREE, and o.b. tampon brand names; wound care products, counting adhesive bandages and first aid products under the BAND-AID and NEOSPORIN brand names; and nutritional products comprising no calorie sweetener under the SPLENDA brand name.
Ford Motor Co. (NYSE:F), dwindled -2.47%, and is now trading at $16.16, soon after the news release that Ford Motor Co. U.S. sales totaled 180,383 vehicles in February, down 2 percent from a year ago.
F-Series retail sales raised 7 percent, as the all-new F-150 remains one of Ford’s fastest-turning vehicles on dealer lots. The training of employees in the new manufacturing process at Kansas City Assembly Plant – the second plant building the new F-150 – is now under way, with production planned to start this month, as planned.
“Strong customer demand for the all-new F-150 drove strong February F-Series retail sales results in February,” said Mark LaNeve, Ford vice president, U.S. Marketing, Sales and Service. “The all-new F-150 continues to be the hottest vehicles on dealer lots, turning more than four times faster than the industry’s overall full-size pickup segment.”
Transit drove a 30 percent raise in total Ford van sales of 13,936 vehicles for the month, counting E-Series and Transit Connect. This marks Ford’s best February van sales performance since 2007.
Explorer sales of 17,027 vehicles were up 32 percent, marking the SUV’s best February sales results since 2006.
Mustang sales raised 32 percent with 8,454 vehicles sold – representing its best February sales since 2007 and making it the best-selling sports car in America since the launch of the all-new model last fall.
Ford Motor Co. (NYSE:F), manufactures and distributes automobiles worldwide. The company operates through two sectors, Automotive and Financial Services. The Automotive sector develops, manufactures, distributes, and services vehicles, parts, and accessories.
