On Friday, Prudential Financial Inc (NYSE:PRU)’s shares declined -1.38% to $89.41.
Prudential Investment Administration (PIM), the global investment administration businesses of Prudential Financial, Inc. (PRU), has reached a definitive agreement to acquire Deutsche Bank’s India asset administration business through its Mumbai-based associate, subject to customary closing conditions and regulatory approval. With $948 billion in assets under administration, PIM ranks among the world’s largest investment administration companies.
Deutsche Asset Administration (India) Pvt. Ltd., established in 2003, recently is the second largest foreign-owned asset manager in the country. During the period April 1 to June 30, 2015, the business had about US$3.2 billion average assets under administration. Upon closing, the combined business will significantly expand PIM’s investment administration expertise, distribution platform and product portfolio in India.
Prudential Financial, Inc. provides insurance, investment administration, and other financial products and services to individual and institutional customers in the United States and internationally. The company principally offers life insurance, annuities, retirement-related services, mutual funds, and investment administration products. Its U.S. Retirement Solutions and Investment Administration division offers individual variable and fixed annuity products; recordkeeping, plan administration, actuarial advisory, tailored participant education and communication, trustee, and institutional and retail investments services; and guaranteed investment contracts, funding agreements, institutional and retail notes, structured settlement annuities, and other group annuities.
Telefonica Brasil SA (ADR) (NYSE:VIV)’s shares dropped -3.09% to $11.91.
Telefonica Brasil - (VIV), declares its merged results for the second quarter of 2015. In this quarter, after the conclusion of GVT’s acquisition, the information of the new Company is revealed, showing strong annual enhance of the main operating and financial indicators in 2Q15, highlighting the acceleration of revenue and EBITDA growth.
Telefônica Brasil S.A. provides fixed-line telecommunications services to residential and corporate customers in Brazil. The company offers voice services, counting activation, monthly subscription, public telephones, and measured services; intraregional, interregional, and international long-distance voice services; data services comprising broadband services; mobile value added services; and Pay TV services through direct to home satellite technology, IPTV, and cable.
At the end of Friday’s trade, Generac Holdings Inc. (NYSE:GNRC)‘s shares dipped -4.16% to $27.89.
Generac Holdings Inc. (GNRC) a leading designer and manufacturer of power generation equipment and other engine powered products, recently stated financial results for its second quarter ended June 30, 2015.
Second Quarter 2015 Highlights
- Net sales were $288.4 million during the second quarter of 2015 as contrast to $362.6 million in the preceding-year second quarter.
- Residential product sales were $133.5 million during the second quarter as contrast to $179.6 million in the preceding-year quarter, primarily due to lower demand of home standby generators as a result of a power outage severity environment that continues to remain challenging.
- Commercial & Industrial (C&I) product sales were $134.6 million during the second quarter as contrast to $163.5 million in the preceding-year quarter, primarily due to a decline in shipments to oil & gas markets and, to a lesser extent, reduced shipments to telecom national account customers.
Generac Holdings Inc. designs, manufactures, and markets power generation equipment and other engine powered products for the residential, light commercial, industrial, oil and gas, and construction markets in the United States, Canada, and internationally.
Nordic American Tanker Ltd (NYSE:NAT), ended its Friday’s trading session with 0.20% gain, and closed at $14.88.
NAO is a start-up company that became listed on the New York Stock Exchange (NYSE) on June 12, 2014. Our ship administration partners, board and staff have a wealth of experience in the offshore and Platform Supply Vessel (PSV) business, with some involved as early as from the 1980s. NAO is well positioned to capitalize on the challenging market conditions in the offshore sector which may represent a commercial opportunity for NAO. The result for 2Q2015 is better than 1Q2015. Counting the recently agreed credit facility of $150m, NAO is fully financed up to early 2020.
The dividend policy of NAO is a fundamental element of our strategy.
As declared on July 21, 2015, NAO has declared a dividend of $0.17 per share for 2Q2015. The record date is August 5, 2015 and the payment of dividend is predictable to take place about August 19, 2015. Since its inception in late 2013, NAO has paid dividends for 6 successive quarters, totalling $2.14 per share, counting the dividend to be paid about August 19, 2015. In June 2014, NAO relocated from the Oslo OTC (Over the Counter) exchange to the New York Stock Exchange (NYSE).
Nordic American Tankers Limited, a tanker company, engages in acquiring and chartering double-hull tankers. As of December 31, 2014, it owned 24 Suezmax crude oil tankers, counting two new buildings under construction. The company was founded in 1995 and is based in Hamilton, Bermuda.
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