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Stock Market & Financial Investment News

News Breaks
February 11, 2014
05:37 EDTLRLCY, NSRGY, SNYNestle, L'Oréal boards unanimously approve sale of 48.5M shares
Nestlé (NSRGY) and L'Oréal (LRLCY) announced that their respective boards, in meetings held on February 10, have approved by unanimous decision of their voting members a strategic transaction for both companies under which L'Oréal will buy 48.5M of its own shares from Nestlé. This buyback will be financed: Partially through the disposal by L'Oréal to Nestlé of its 50% stake in Swiss dermatology pharmaceuticals company Galderma, a 50/50 joint venture between L'Oréal and Nestlé, for an enterprise value of EUR 3.1B, EUR 2.6B of equity value, paid by Nestlé in 21.2M L'Oréal shares. For the remainder, corresponding to 27.3M L'Oréal shares held by Nestlé, in cash for an amount of EUR 3.4B. All the shares bought back by L'Oréal will be cancelled. Following the transaction, Nestlé's stake in L'Oréal will be reduced from 29.4% to 23.29% of the share capital and the Bettencourt Meyers family's stake in L'Oréal will increase from 30.6% to 33.31%. In order to reflect the change of Nestlé's stake in L'Oréal's governance, the number of Nestlé representatives on L'Oréal's board will be adjusted from 3 to 2 Directors, and the ownership ceiling provisions of the shareholders' agreement between Nestlé and the Bettencourt Meyers family will apply to their respective new holdings. The transaction will be accretive by more than 5% on L'Oréal's recurring earnings per share on a full year basis. The buyback will be exclusively financed with L'Oréal's available cash and through the issuance of commercial paper. It will not require the disposal of Sanofi (SNY) shares held by L'Oréal. The transaction is expected to close before the end of the first semester of 2014.
News For NSRGY;LRLCY;SNY From The Last 14 Days
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April 17, 2015
05:32 EDTNSRGYNestle confirms FY15 organic growth outlook of around 5%
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05:29 EDTNSRGYNestle reports three-month organic growth of 4.4%, 1.9% real internal growth
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April 16, 2015
11:44 EDTNSRGYNestle continues to streamline its business as competition heats up, WSJ says
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April 15, 2015
11:56 EDTSNYSanofi initiated with a Buy at Societe Generale
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07:41 EDTSNYEBD Group to hold a forum
ChinaBio Partnering Forum 2015 is being held in Shanghai, China on April 15-16.
April 14, 2015
06:51 EDTNSRGYNestle in advanced talks to sell Davigel unit to Brakes Group, Reuters reports
Nestle is in advanced discussions for the sale of its Davigel frozen food group to Bain Capital's Brakes Group, Reuters reports, citing a source. A second source says the sale of the deal, which is being handled by Credit Suisse, could raise EUR200M-EUR300M. Reference Link
April 8, 2015
10:01 EDTLRLCYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Almost Family (AFAM) downgraded to Neutral from Outperform at Baird... Angie's List (ANGI) downgraded to Neutral from Buy at B. Riley... Annaly Capital (NLY) downgraded to Underperform from Market Perform at FBR Capital... Apple (AAPL) downgraded to Hold from Buy at Societe Generale... Calamos (CLMS) downgraded to Underperform from Market Perform at Keefe Bruyette... Catamaran (CTRX) downgraded to Hold from Buy at Argus... Cinemark (CNK) downgraded to Neutral from Buy at Janney Capital... Crestwood Equity (CEQP) downgraded at BofA/Merrill... Cummins (CMI) downgraded to Neutral from Buy at Goldman... Kinder Morgan (KMI) downgraded to Buy from Conviction Buy at Goldman... L'Oreal (LRLCY) downgraded to Neutral from Outperform at Exane BNP Paribas... NextEra Energy Partners (NEP) downgraded to Neutral from Buy at Goldman... Regal Entertainment (RGC) downgraded to Neutral from Buy at Janney Capital... Trina Solar (TSL) downgraded at BofA/Merrill... WebMD (WBMD) downgraded to Sell from Neutral at Goldman... Yingli Green Energy (YGE) downgraded at BofA/Merrill... Zep Inc. (ZEP) downgraded to Sell from Buy at Wunderlich.
05:28 EDTLRLCYL'Oreal downgraded to Neutral from Outperform at Exane BNP Paribas
April 7, 2015
11:34 EDTLRLCYOrganovo jumps almost 8% after announcing pact with L'Oréal
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07:14 EDTSNYEyeforpharma to hold a summit
Philadelphia 2015 Commercial Pharma Summit is being held in Philadelphia on April 7-8.

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