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Stock Market & Financial Investment News

News Breaks
July 16, 2014
08:45 EDTPRU, VCVisteon agrees to transfer certain U.S. pension assets to Prudential
Visteon (VC) announced that it has entered into an agreement to transfer certain U.S. pension assets to Prudential Insurance Company of America, a subsidiary of Prudential (PRU), to settle approximately $350M of Visteon's $1.1B in outstanding U.S. pension obligations. Under the agreement, the Visteon Pension Plan will purchase a group annuity contract from Prudential, which will then assume the obligation to make future annuity payments to certain Visteon hourly retirees. The pension transfer will not change the amount of the monthly pension benefit received by affected retirees and surviving beneficiaries. The group annuity contract includes an irrevocable commitment by Prudential to make annuity payments to affected retirees covered under the contract.
News For VC;PRU From The Last 14 Days
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February 10, 2016
19:33 EDTPRUOn The Fly: After Hours Movers
UP AFTER EARNINGS: HubSpot (HUBS), up 12%... CSRA (CSRA), up 12%... Expedia (EXPE), up 11.5%... Tesla (TSLA), up 9.6%... Hortonworks (HDP), up 8.6%... Skechers (SKX), up 8.8%... Cisco Systems (CSCO), up 7.3%... Centurylink (CTL), up 8.4%... O'Reilly Automotive (ORLY), up 5.2%... Kinross Gold (KGC), up 3.7%... Whole Foods Market (WFM), up 2.5%. ALSO HIGHER: Tripadvisor (TRIP) is up 7.1% and Priceline (PCLN) is up 4.5% after Expedia reported its quarterly results. DOWN AFTER EARNINGS: Pilgrim's Pride (PPC), down 10.9%... Cornerstone OnDemand (CSOD), down 3.6%... Mylan (MYL), down 9.4% after reporting quarterly results and announcing that it will acquire Meda Aktiebolag for $9.9B... Zynga (ZNGA), down 8.9%... iRobot (IRBT), down 6.4%... Prudential (PRU), down 1%... Twitter (TWTR), down 3%... Pioneer Natural (PXD), down 2.4%. ALSO LOWER: Franco-Nevada (FNV), down 4.9% after 11.5M share Spot Secondary priced at $47.85... Continental Resources (CLR), down 2.4% after reporting proved reserves of 1.23B Boe at Dec. 31, 2015.
16:40 EDTPRUPrudential reports Q4 adjusted EPS $1.94, consensus $2.30
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14:32 EDTPRUNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Cisco (CSCO), consensus 54c... Tesla (TSLA), consensus 8c... Twitter (TWTR), consensus 12c... Whole Foods (WFM), consensus 40c... Mylan (MYL), consensus $1.27... Expedia (EXPE), consensus $1.00... Prudential Financial (PRU), consensus $2.30... O'Reilly Automotive (ORLY), consensus $2.08... Pioneer Natural Resources (PXD), consensus (30c)... Skechers (SKX), consensus 20c... Zynga (ZNGA), consensus 0c.
January 28, 2016
08:02 EDTPRUPrudential receives approval for acquisition of interest in Administradora
Prudential Financial said that it has obtained the approval of the Chilean Superintendence of Pensions for its previously announced proposed acquisition of an indirect ownership interest in Administradora de Fondos de Pensiones Habitat S.A. (AFP Habitat), a leading provider of retirement services in Chile that trades under the symbol HABITAT CI on the Santiago Stock Exchange. Prudential expects to acquire indirectly between approximately 34 and 40 percent of AFP Habitat from Inversiones La Construccion S.A., the investment subsidiary of the Chilean Construction Chamber, depending on the results of a pre-closing partial tender offer by a subsidiary of ILC to acquire up to 13 percent of AFP Habitat's outstanding shares from public shareholders at a price of $899.90 Chilean Pesos per share. ILC has announced that this tender will commence on January 28, 2016 and, unless extended, will expire on February 26, 2016. Following the completion of the tender offer, Prudential will acquire its indirect interest in the AFP Habitat shares from ILC for 899.90 Chilean Pesos per share, for a total purchase price of approximately US$430 million to US$510 million at current exchange rates. It is expected that the transaction will result in equal ownership positions for Prudential and ILC, with a controlling stake in AFP Habitat held through a joint holding company.

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