During Monday’s Morning trade, Shares of Target Corporation (NYSE:TGT), gained 0.17% to $71.45.
Target Corporation, declared its board of directors elected Melanie Healey, former group president, North America, of The Procter & Gamble Company (P&G, NYSE: PG), as a new director, effective right away.
Ms. Healey, 54, spent more than 25 years at P&G. During her tenure, she worked in Brazil, Mexico, Venezuela and the United States, most recently as group president and advisor to the chairman and chief executive officer, from January 2015 until July 2015 and as group president, North America, from 2009 until December 2014. Her history at the company comprises a variety of leadership roles in marketing and in the health and personal care businesses, counting group president, global feminine and health care. Preceding to P&G, Ms. Healey held positions at S.C. Johnson & Sons and Johnson & Johnson.
“Mel brings to Target’s board more than 30 years of CPG experience and a passion for improving the lives of consumers around the world. She has a track record of delivering growth, driving operational improvements and launching successful product innovations for globally recognized brands. She also has a history of building wellness brands, which will provide an important perspective as Target continues to elevate wellness as one of our signature categories,” said Brian Cornell, chairman and CEO of Target.
Target Corporation operates as a general merchandise retailer in the United States and Canada. It offers household essentials, counting pharmacy, beauty, personal care, baby care, cleaning, and paper products; music, movies, books, computer software, sporting goods, and toys; electronics, such as video game hardware and software; and apparel for women, men, boys, girls, toddlers, infants, and newborns, in addition to intimate apparel, jewelry, accessories, and shoes.
Shares of Tyco International PLC (NYSE:TYC), inclined 1.30% to $35.77, during its current trading session.
Tyco, stated $0.19 in U.S. GAAP diluted earnings per share (EPS) from ongoing operations for the fiscal fourth quarter of 2015 and diluted EPS from ongoing operations before special items of $0.61. Revenue of $2.5 billion in the quarter reduced 7% as compared to the preceding year, primarily due to a 7% negative impact of the stronger U.S. dollar against foreign currencies. Organic revenue declined 1% in the quarter. Acquisitions contributed 2 percentage points of growth, which was partially offset by the impact of divestitures.
For the full year, the company stated U.S. GAAP diluted EPS from ongoing operations of $1.44 and diluted EPS from ongoing operations before special items of $2.24. Revenue of $9.9 billion reduced 4%. Organic revenue growth for the year of 1% and acquisitions growth of 2% were more than offset by a 6% negative impact related to changes in foreign currency exchange rates and a 1% impact related to divestitures.
“We delivered solid operational results this year with strong performance in the fourth quarter, exhibiting effective execution on our productivity initiatives and cost actions amid a challenging macroeconomic environment,” said Tyco Chief Executive Officer George R. Oliver. “The quarter’s margin expansion reflects our progress with our transformation to an operating company. Despite slower growth in the industrial and energy-related end markets, we continue to see pockets of strength across the globe, led by U.S. non-residential construction markets. We anticipate these market conditions to continue in fiscal 2016.
Tyco International plc provides security products and services, fire detection and suppression products and services, and life safety products worldwide. The company operates through three segments: North America Integrated Solutions & Services, Rest of World Integrated Solutions & Services, and Global Products.
Finally, Shares of Discovery Communications Inc. (NASDAQ:DISCA), gained 1.55%, and is now trading at $30.42.
Liberty Global plc and Discovery Communications, have each purchased 5.0 million common shares (“Common Shares”) of Lions Gate Entertainment Corp. (“Lionsgate”), resulting in each having an about 3.4% shareholding of Lionsgate’s current outstanding Common Shares. The 10.0 million Common Shares were attained from funds associated with MHR Fund Administration LLC (“MHR”).
Liberty Global and Discovery Communications each paid about US$195 million for their respective stake in Lionsgate representing a purchase price of about C$52.68 per Common Share based on current exchange rates.
Liberty Global and Discovery Communications purchased the securities for investment purposes only and may or may not purchase or sell securities of Lionsgate in the future on the open market or in private transactions, depending on market conditions and other factors.
Discovery Communications, Inc. operates as a media company. The company operates through U.S. Networks; International Networks; and Education and Other segments. The company owns and operates television networks under the brands, such as Discovery, TLC, Animal Planet, Investigation Discovery, Science, Velocity, Discovery Family, American Heroes, Destination America, Discovery Life, Oprah Winfrey network, Eurosport, DMAX, and Discovery Kids. Its content spans genres, counting survival, exploration, sports, lifestyle, general entertainment, heroes, adventure, crime and investigation, health, and kids.