On Thursday, in the course of current trade, Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB), dropped -2.98%, and is now trading at $10.93.
Brazil’s largest private bank Itau is set to break a six-month drought in dollar bond issuance from the country with a three-year bond offering which will price on Monday.
Itau’s bond deal, rated Baa3/BBB-/BBB+, follows a new issue from Brazilian cement maker Votorantim Cimentos in the euro market on May 7.
Itau’s planned offering would be the first such sale by a Brazilian issuer in the US dollar market since November, when a slew of arrests connected to an alleged bribery scheme at state-run oil company Petrobras rattled market’s faith in the country.
Itaú Unibanco Holding S.A. provides various financial products and services to individuals and corporate clients in Brazil and internationally. The company operates through Commercial Bank Retail, Consumer Credit Retail, and Wholesale Bank segments.
During Morning trade, Shares of American Airlines Group Inc. (NASDAQ:AAL), gained 0.36%, and is now trading at $42.39.
American Airlines Group, will conduct a live audio webcast of its annual meeting of shareholders on Wednesday, June 3 at 9 a.m. EDT. The webcast will be accessible to the public on a listen-only basis at aa.com/investorrelations, and an archive of the webcast will be accessible on the company’s website.
American Airlines Group Inc., through its auxiliaries, operates in the airline industry. As of December 31, 2014, the company operated 983 mainline jets, in addition to 566 regional aircrafts through regional airline auxiliaries and third-party regional carriers. It serves 339 destinations in 54 countries.
Shares of The Coca-Cola Company (NYSE:KO), during its Thursday’s current trading session fell -0.41%, and is now trading at $40.95.
A bottle maker in China for Coca-Cola Co. said it won’t make a full bond payment due recently, making it the fourth company to default in the onshore debt market.
Zhuhai Zhongfu Enterprise Co., which also supplies bottles for PepsiCo Inc., will repay only 35 percent of the notes’ 590 million yuan ($95.1 million) in principal, Han Huiming, board secretary at the Chinese company, said in a phone interview on Thursday. The bottle maker will pay all the 31.152 million yuan of interest on the 5.28 percent securities sold in 2012, Han said.
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company primarily offers sparkling beverages and still beverages. Its sparkling beverages comprise nonalcoholic ready-to-drink beverages with carbonation, such as carbonated energy drinks, and carbonated waters and flavored waters.
Finally, Tiffany & Co. (NYSE:TIF), lost -0.50% Thursday.
Tiffany & Co., stated its results for the three month period ended April 30, 2015. Net sales and earnings declines, albeit smaller than anticipated, reflected the negative effects from the strong U.S. dollar and a difficult year-over-year sales comparison in Japan. Administration maintained its earnings guidance for the year ending January 31, 2016, as specified in the Company’s news release on March 20th.
In the first quarter:
- Worldwide net sales of $962 million were 5% below the preceding year. However, on a constant-exchange-rate basis not taking into account the effect of translating foreign-currency-denominated sales into U.S. dollars (see “Non-GAAP Measures” plan), worldwide net sales rose 1% due to growth in all regions except Japan and driven by raised sales of fashion gold jewelry and statement jewelry; worldwide comparable store sales on that basis were 1% below last year.
- Net earnings declined 17% to $105 million, or $0.81 per diluted share, contrast with $126 million, or $0.97 per diluted share, a year ago, due to the lower sales in addition to higher SG&A (selling, general and administrative) expenses primarily related to marketing spending.
Tiffany & Co., through its auxiliaries, designs, manufactures, and retails jewelry worldwide. Its jewelry products comprise fine and solitaire jewelry; engagement rings and wedding bands to brides and grooms; and non-gemstone, sterling silver, gold, and metal jewelry.
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