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Stock Market & Financial Investment News

News Breaks
February 25, 2013
08:07 EDTBGCGeneral Cable confirms FY13 operating income guidance $300M-$340M
For the full year of 2013 assuming copper prices remain at relatively stable levels, the Company confirms its guidance for operating income in the range of $300 to $340 million on 1.4 to 1.5 billion metal pounds sold. However, the first quarter of 2013 is anticipated to be the weakest of the year as specific factors in Europe and Mediterranean and ROW are expected to impact results. Specifically, installation and construction related activities in the Company’s Europe and Mediterranean submarine turnkey project business are anticipated to be seasonally slow during the first quarter of the year and improving as weather permits in the spring and summer months. In ROW, the timing of a change in local statutory leave requirements in Venezuela, which resulted in an extended vacation period in the beginning of the year, is expected to burden first quarter results with minimal impact going forward. The Company expects sequentially better results in nearly all North American businesses and strong earnings contributions from acquisitions in the first quarter of 2013. Overall, the Company anticipates a sharp improvement in second quarter results as the construction season accelerates and these transitory items subside.
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December 22, 2014
08:01 EDTBGCGeneral Cable sells interest in Phelps Dodge International Philippines for $67M
General Cable Corporation has completed the sale of its interest in Phelps Dodge International Philippines for cash consideration of $67M. The company sold its 60% interest to its joint venture partner, A. Soriano Corporation. Proceeds from the sale will be used to reduce outstanding borrowings on the company’s North American and European asset based revolving credit facility. The company previously announced on October 29 its intent to divest all of its manufacturing operations in Asia Pacific and Africa in order to simplify its geographic portfolio and reduce organization complexity.
December 11, 2014
09:50 EDTBGCGeneral Cable management to meet with BB&T
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