On Wednesday, Shares of Vodafone Group Public Limited Company (NASDAQ:VOD), settled at $38.65. The company attained the volume of 2,889,336 shares as compared to its average daily volume of 3,760,870 shares.
Vodafone is said to be considering an IPO of its business in India. It presently makes up about 10% of the company’s global revenue. Bloomberg’s Sunanda Jayaseelan reports on “Trending Business.”, Bloomberg states.
Vodafone Group Plc operates as a telecommunications company worldwide. It offers voice, messaging, data, and fixed broadband services; unified communication solutions; Vodafone One Net, a converged service, which combines fixed and mobile services for various businesses; carrier voice and data products; machine-to-machine connection services; and cloud and hosting services, such as co-location, managed hosting, private and public cloud services, messaging services, and software-as-a-service applications.
Shares of Weatherford International plc (NYSE:WFT), declined -2.53% to $13.86, during its last trading session, after oil equipment manufacturer was downgraded to “underperform” from “outperform” by analysts at Credit Agricole.
The downgraded outlook comes after the company stated a first quarter net loss of 4 cents per share, 5 cents short of analysts’ consensus 1 cent per share earnings expectations last week. Revenue for the period was $2.79 billion, also falling short of analysts’ $3.1 billion expectations.
Falling capital expenditure budgets due to falling oil prices have put pressure on the entire oil industry as the company stated a 22.3% year over year decline in revenue.
Weatherford International public limited company provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. The company offers managed-pressure drilling services, counting closed-loop, air, managed pressure, and underbalanced drilling; drilling services, such as directional drilling, logging while drilling, measurement while drilling, and rotary steerable systems; and tubular running services, which comprise of tubular connection and installation services for the drilling, completion, and work over of oil or natural gas wells.
At the end of Wednesday’s trade, Shares of Lorillard, Inc. (NYSE:LO), gained 0.97% to $72.82, hitting its highest level, after the FTC cleared tobacco company Reynolds American (RAI) to buy Lorrillard for $27.4 billion.
Shares of Reynolds American are climbing 2.51% to $77.32.
The two cigarette makers declared their planned marriage last July, part of a three-way deal in which the companies agreed to sell $7.1 billion in cigarette brands and other assets to UK-based Imperial Tobacco Group (ITYBY) according to The Wall Street Journal.
Lorillard, Inc., through its auxiliaries, manufactures and sells cigarettes in the United States. It operates through two segments, Cigarettes and Electronic Cigarettes. The Cigarettes segment offers various cigarettes that comprise about 45 product offerings under various brand names, such as Newport, Kent, True, Maverick, and Old Gold.
The worst performing sector as of midday Wednesday’s trade was Consumer Products sector, up 0.3%. Among large Consumer Products stocks, Fossil Group Inc (NASD: FOSL) and Coach, Inc. (NYSE: COH) are the most notable, showing a loss of 5.7% and 3.6%, respectively. One ETF closely tracking Consumer Products stocks is the iShares U.S. Consumer Goods ETF (IYK), which is up 0.3% in midday trading, and up 2.63% on a year-to-date basis. Fossil Group Inc, meanwhile, is down 35.57% year-to-date, and Coach, Inc., is down 5.32% year-to-date. Combined, FOSL and COH make up about 0.6% of the underlying holdings of IYK.
Pepsico, Inc. (NYSE:PEP), ended its last trade with 0.62% gain, and closed at $96.38.
PepsiCo, Inc. operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay’s potato chips, Doritos tortilla chips, Cheetos cheese-flavored snacks, Tostitos tortilla chips, branded dips, Ruffles potato chips, Fritos corn chips, and Santitas tortilla chips.
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