On Tuesday, Mondelez International Inc (NASDAQ:MDLZ)’s shares inclined 1.68% to $42.99.
Two months after Mondelez International separated its European cheese and spreads business into a standalone unit, a senior executive said on Tuesday a selloff is not on the cards for now, rebutting speculation of a divestment.
The maker of Cadbury chocolate and Oreo cookies said last year it would create a separate unit for the business, which sells Philadelphia cream cheese and other grocery brands, sparking talk that the unit would eventually be sold.
Mondelez’s European business saw revenue fall nearly 17 percent in the second quarter, as it raised prices on chocolates and coffee to offset higher cocoa and dairy costs.
Weber said results were showing a gradual improvement, as price gaps with competitors lessened, and the company hoped to see positive momentum ongoing.
Mondelez International, Inc., through its auxiliaries, manufactures and markets snack food and beverage products worldwide. The company offers biscuits, counting cookies, crackers, and salted snacks; chocolates, and gums and candies; powdered beverages and coffee; and cheese and grocery products.
Morgan Stanley (NYSE:MS)’s shares gained 2.31% to $34.59.
Morgan Stanley (MS) declared a regular dividend on the outstanding shares of each of the following preferred stock issues:
- Floating Rate Non-Cumulative Preferred Stock, Series A - $255.56 per share (equivalent to $0.25556 per Depositary Share)
- 10 Percent Non-Cumulative Non-Voting Perpetual Preferred Stock, Series C - $25.00 per share
- Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series E - $445.31 per share (equivalent to $0.44531 per Depositary Share)
- Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series F - $429.69 per share (equivalent to $0.42969 per Depositary Share)
- 625 Percent Non-Cumulative Preferred Stock, Series G - $414.06 per share (equivalent to $0.41406 per Depositary Share)
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The company’s Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, in addition to provides capital raising and corporate lending services.
At the end of Tuesday’s trade, AES Corp (NYSE:AES)‘s shares surged 0.45% to $11.12.
The AES Corporation (AES) declared that, its partner, Gas Natural Atlantico S. de R.L., has won a competitive bid process conducted by the Electric Transmission Company, SA (ETESA), the state’s electric transmission company, to supply 350 MW of new capacity. The project will comprise the construction of a 350 MW combined cycle natural gas-fired plant with a 10-year Power Purchase Agreement (PPA), and a 170,000 m3 LNG storage tank and regasification facility, to supply gas to the plant, in addition to to potentially serve growing demand for natural gas in Central America.
AES anticipates to sign the 10-year PPA by the end of 2015. The project is subject to customary regulatory approvals counting, but not limited to, an environmental impact assessment study and a definitive generation license. These approvals and financial close are predictable before commencement of construction. Construction of the project is predictable to start in early 2016, with commercial operations predictable in 2018. The total project cost is predictable to be in the range of $800 to $900 million, which will be financed with a combination of non-recourse debt, equity from partners and AES equity of up to $210 million. AES entered Panama 16 years ago and since then has made a total investment of more than $1.3 billion in the country. Presently, AES owns 777 MW (471 MW on an ownership-adjusted basis) of mostly hydroelectric generation.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries.
Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), ended its Tuesday’s trading session with 2.69% gain, and closed at $65.21.
Teva Pharmaceutical Industries Ltd., (TEVA) declared that the U.S. Food and Drug Administration (FDA) has accepted for review the company’s supplemental new drug application (sNDA) for ProAir® RespiClick (albuterol sulfate) Inhalation Powder for the treatment or prevention of bronchospasm in patients 4 to 11 years of age with reversible obstructive airway disease and for the prevention of exercise-induced bronchospasm (EIB).
ProAir® RespiClick was approved by the FDA in March 2015 for the treatment or prevention of bronchospasm in patients 12 years of age and older with reversible obstructive airway disease and for the prevention of EIB. ProAir® RespiClick is the only multi-dose, breath-activated short-acting beta-agonist (SABA) inhaler accessible to patients in the U.S. It differs from other presently accessible rescue inhalers as it utilizes breath-activated technology that enables patients to breathe in to receive a measured dose of the medicine, eliminating the need for hand-breath coordination during inhalation.
Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic, specialty, and other pharmaceutical products worldwide. The company operates in two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers generic or branded generic medicines; specialized products, such as sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances; and active pharmaceutical ingredients.
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