Category: Large Cap Growth Stocks

Whirlpool To Buy 51% Stake in Hefei Sanyo (WHR)

Home appliances maker, Whirlpool Corp. (NYSE: WHR) said on Tuesday that it has agreed to buy a majority stake in China’s Hefei Rongshida Sanyo Electric Co in deal estimated at about $555.4 million. The move will allow the Company to gain traction in China.

Whirlpool said that its will purchase all Hefei Sanyo shares both from Sanyo Electric Co. and Sanyo Electric Co. (China) Ltd. After the transaction is completed, Whirlpool will hold a 51% stake in Hefei Sanyo.

Whirlpool, which is the world’s largest home appliances maker, posted better-than-expected fiscal second quarter results in July, as the sales soared 75% due to improved demand for its products from across all geographic segments.

BlackBerry Looking At Strategic Alternatives (BBRY)

Struggling smartphone maker, BlackBerry Ltd. (NASDAQ: BBRY) said on Monday that it is mulling all strategic options like joint ventures partnerships, including putting itself up for sale. Flagging sales and dwindling market-share have hammered Blackberry shares this year. In a statement released on Monday, BlackBerry said that a special board has been commissioned which will look at all possible alternatives to arrest the downtrend in the business. BlackBerry said that J P Morgan Chase & Co will act as its financial adviser. Shares of BlackBerry rallied following this announcement.  

Dole Food Company To Be Acquired By Its CEO for $ 13.50 Per Share (DOLE)

David H Murdock Jr., the Chief Executive of Dole Food Company Inc. (NYSE: DOLE) announced on Monday that he has agreed to buy 100% stake in the food and vegetable company in deal estimated at $1.6 billion, including debt.

According to the terms of the deal, Murdock will pay $13.50 per share to acquire another 60% stake in the company, which he does not currently own. The deal implies a 5% premium over the closing stock price of $12.81 on Friday. The latest offer is 12.5% higher than Murdock’s initial offer of $12 a share.

Starbucks Beats Q3 Estimates; Lifts FY 2013 Earnings Guidance, Shares Rally (SBUX)

The world’s largest coffee chain, Starbucks Corporation (NASDAQ: SBUX) said on Friday that its fiscal third-quarter net income rose 25%, aided by robust growth in same-store sales, worldwide.

Continue reading Starbucks Beats Q3 Estimates; Lifts FY 2013 Earnings Guidance, Shares Rally (SBUX)

Major Movers on July 25; OKE, CROX, FB, DHI, PHM, BIDU

Tulsa, Oklahoma-based diversified energy company, ONEOK Inc. (NYSE: OKE) today announced that its Board of Directors authorized the management to pursue a plan to separate the company’s natural gas distribution business into a standalone publicly traded company.

Continue reading Major Movers on July 25; OKE, CROX, FB, DHI, PHM, BIDU

Major Movers on July 24; ILMN, PNRA, HBI, MFB

Shares of Illumina Inc. (NASDAQ: ILMN) struck a new 52-week high today after the San Diego, California-based company reported its financial results for the second quarter. Illumina, which is engaged in the development and manufacture of life science tools and integrated systems for the analysis of genetic variation and function, reported non-GAAP earnings of $0.43 per share for the quarter, compared to $0.40 per share reported for the same period in the previous year. Analysts were expecting ILMN to report earnings of $0.40 per share.

Continue reading Major Movers on July 24; ILMN, PNRA, HBI, MFB

Major Movers on July 23; NFLX, USU, UTX, AAPL

Shares of Netflix Inc. (NASDAQ: NFLX) have fallen sharply in trading today after the Los Gatos, California-based company reported that it added less-than-forecast subscribers in the U.S. during the second quarter. NFLX added 630,000 subscribers in the U.S. during the quarter ended June 30, 2013. The company ended the quarter with 28.6 million U.S. subscribers, which fell short of consensus forecast of 29.9 million. Looking ahead, the company expects to add 690,000 to 1.49 million new streaming customers in the U.S. in the third quarter.

Continue reading Major Movers on July 23; NFLX, USU, UTX, AAPL

Texas Instruments Q2 Profit Up 48%, Sees Market Improving (TXN)

Semiconductor maker, Texas Instruments Incorporated (NASDAQ: TXN) said late last evening that its fiscal second-quarter net income increased 48%, aided by a big onetime gain (the company transferred technology to an unnamed client for $315 million).

Continue reading Texas Instruments Q2 Profit Up 48%, Sees Market Improving (TXN)

Major Movers on July 22; KMB, DWA, MCD, YHOO, FDML, NAFC, SPTN

Shares of Kimberly Clark Corp. (NYSE: KMB) fell about 1.47% by afternoon trade. The Consumer products maker, reported on Monday that fiscal second quarter net income increased 5.6% as cost cutting measures, improvement in international business helped offsetting its restructuring expenses arising from Western European operations. Continue reading Major Movers on July 22; KMB, DWA, MCD, YHOO, FDML, NAFC, SPTN