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Stock Market & Financial Investment News

News Breaks
December 6, 2012
08:26 EDTAERAerCap Holdings repurchases 8M shares, completes $200M share repurchase plan
AerCap Holdings purchased approximately 5M ordinary shares in AerCap held by Cerberus Capital Management in a privately negotiated transaction. The purchase price for the 5M ordinary shares was $12.71 per share as compared to a closing share price of the ordinary shares on the New York Stock Exchange of $12.88 on December 5. In addition, on December 4, AerCap purchased approximately 3M ordinary shares in AerCap held by a non-affiliated shareholder in a privately negotiated transaction. The purchase price for the 3M ordinary shares was $12.85 per share as compared to a closing share price of the ordinary shares on the New York Stock Exchange of $12.91 on December 3. Both purchases were made under the previously announced repurchase program pursuant to which AerCap could purchase up to $200M of its ordinary shares prior to June 30, 2013. The repurchase program is now completed.
News For AER From The Last 14 Days
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April 23, 2015
17:17 EDTAERAir Lease settles AIG litigation, will pay $72M in total
In a regulatory filing, Air Lease (AL) reports that on April 22, 2015, it and certain executive officers and employees of the company entered into a settlement agreement and release with American International Group (AIG), International Lease Finance Corporation, and ILFC’s parent, AerCap Holdings (AER), to settle all ongoing litigation. Pursuant to the terms of the agreement, all claims and counterclaims asserted in the litigation will be dismissed with prejudice, each of the parties to the litigation will receive full releases of all claims and counterclaims asserted in the litigation, and Air Lease will pay AIG the sum of $36M no later than June 30, and an additional sum of $36M no later than September 30, which will be reflected in Air Lease's March 31 financial statements. No party admits any wrongdoing or liability with respect to any matter alleged in the litigation.
April 20, 2015
15:16 EDTAERGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
14:16 EDTAEREinhorn lists AerCap, CBI, GM as new longs, Bloomberg reports
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