On Monday, Caterpillar Inc. (NYSE:CAT)’s shares inclined 0.08% to $86.12.
A woman in sub-Saharan Africa is passionate. She’s smart. She’s innovative. Often times, however, she’s not given the chance – or the right tools – to take her ideas and turn them into a way of life. Through a $1 million investment from Caterpillar Inc. (CAT) and the Caterpillar Foundation and an investment from the U.S. Department of State, recently marks the opening of the first of three women’s business centers in sub-Saharan Africa to provide assistance to assist women entrepreneurs. This first center is located in Zambia; a center in Kenya and another in West Africa will open at later dates.
In partnership with the U.S. Department of State’s African Women’s Entrepreneurship Program (AWEP) and the Women’s Entrepreneurial Centers of Resources, Education, Access, and Training for Economic Empowerment (WECREATE) project, these women’s entrepreneurship centers will advance gender equality and address entrepreneurship skill barriers faced by women and girls. This investment in the centers marks the first ever private-public partnership between the U.S. State Department, Caterpillar and StartUp Cup, an organization that provides global end-to-end solutions for accelerating entrepreneurial ventures, creating jobs and building local and regional entrepreneurship ecosystems. StartUp Cup will be the implementing partner managing the centers.
Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. The company’s Construction Industries segment offers backhoe, small wheel, skid steer, multi-terrain, compact track, medium and compact wheel, and track-type loaders; mini, wheel, and track excavators; track-type tractors; and select work tools, motor graders, telehandlers, soil compactors, and pipelayers, in addition to its related parts for the heavy and general construction, rental, mining and quarry, and aggregates markets. Its Resource Industries segment provides electric rope and hydraulic shovels; draglines; drills; highwall and longwall miners; hard rock vehicles; articulated, large mining, and off-highway trucks; large wheel loaders; wheel tractor scrapers; wheel dozers; machinery components; and electronics and control systems for use in mining and quarry applications.
Target Corporation (NYSE:TGT)’s shares dropped -0.42% to $78.87.
Target Corporation (TGT) stated first quarter 2015 adjusted earnings per share from ongoing operations1 (Adjusted EPS) of $1.10, up 19.6 percent from $0.92 in 2014. GAAP EPS from ongoing operations were $1.01, contrast with $0.89 in first quarter 2014. First quarter 2015 GAAP EPS from ongoing operations reflect $103 million of restructuring costs that are excluded from Adjusted EPS. The tables attached to this press release provide a reconciliation of non-GAAP to GAAP measures. All earnings per share figures refer to diluted EPS.
Fiscal 2015 Earnings Guidance
In second quarter 2015, Target anticipates Adjusted EPS of $1.04 to $1.14, contrast with $1.01 in second quarter 2014.
The Company now anticipates full-year 2015 Adjusted EPS of $4.50 to $4.65, contrast with prior guidance of $4.45 to $4.65.
Interest Expense and Taxes from Ongoing Operations
The Company’s first quarter 2015 net interest expense was $155 million, contrast with $152 million last year. The Company’s first quarter 2015 effective income tax rate from ongoing operations was 34.8 percent, contrast with 34.4 percent last year.
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.
At the end of Monday’s trade, KKR & Co. L.P. (NYSE:KKR)‘s shares dipped -0.77% to $23.07.
Channel Control Merchants an extreme value retailer of secondary market inventories, declared that they have accomplished an equity financing with KKR & Co. L.P. (KKR), a leading global investment firm. Financial terms of the transaction were not revealed.
Owned by Robert A. Roberts (CEO), Steven Wisch (Chairman of the Board of the Directors), and the Company’s administration team, CCM is an extreme value retailer and exporter of brand sensitive secondary market inventories specializing in the purchase and resale of store level inventories from Fortune 500 and other well-known U.S. retailers and manufacturers. The Company sells a wide variety of brand-name merchandise across multiple categories at exceptional savings at its more than 60 retail stores under the banners Dirt Cheap, Treasure Hunt and Dirt Cheap Building Supplies.
For nearly four decades, KKR’s private equity franchise has focused on investing in quality companies and partnering with administration teams to assist them grow. Since 1976, KKR has accomplished more than 260 private equity investments in portfolio companies with a total transaction value in excess of $505 billion as of March 31, 2015. When making private equity investments, KKR seeks out strong business franchises, with attractive growth prospects, and leading market positions for either majority or growth-oriented stakes.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments.
FXCM Inc (NYSE:FXCM), ended its Monday’s trading session with 4.72% gain, and closed at $1.66.
FXCM Inc. (FXCM) declared that Forex Trading, LLC, a partner of FXCM Newco, LLC has signed a definitive agreement to sell FXCM Asia Limited to Rakuten Securities, Inc. a top 5 FX broker in Japan, and a partner of Rakuten, Inc. (“Rakuten”) (TOKYO:4755), one of the world’s largest Internet services companies, for a total consideration of about $36 million.
Subject to regulatory approval from the Hong Kong Securities and Futures Commission and customary closing conditions, the transaction is predictable to close in Q3. The consideration for the net assets will be finalized on the date of closing.
Rakuten Sec will continue to use the FXCM trading system for FXCM Hong Kong clients under a white label agreement with FXCM and will be notifying clients once the deal is finalized.
FXCM Hong Kong is FXCM’s regulated entity providing services to predominantly Hong Kong residents. Forex Capital Markets Ltd (“FXCM UK”) will continue to service the broader Asian market.
Pinnacle Inc. served FXCM as financial advisors on the deal.
FXCM Inc., through its auxiliaries, provides online foreign exchange (FX) trading and related services to retail and institutional customers worldwide. The company operates in two segments, Retail Trading and Institutional Trading. It acts as an agent between retail customers and a collection of global banks and financial institutions by making foreign currency markets for customers trading in foreign exchange spot markets.
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