SAN has a significant operating base in UK. Go look at GBPUSD FX today. DEO, BTI, two big UK-based companies both down hard. It's brexit fears guaranteed. But hey, you believe whatever and whoever you want.
Why? You do realize the BXLT buyout was not an inversion deal right? And that SHPG has sales worldwide. I see nothing wrong holding shares in companies based in jurisdictions with low tax rates.
What do you want them to say? They have no control over Brexit vote. And they issued several press releases on Change of Holdings this week as investment houses are tidying up their trades post-merger.
Two reasons... fears of UK exit from the EU - check GBPUSD FX today. And new SHPG shareholders continuing to exit post-BXLT buyout. Both matters will be resolved in the next couple of weeks or so.
If you go to Shire's website and check the press releases, there's several this week related to change in holdings.by Blackrock and Deutsche, no doubt related to close of the deal.
I will add 25% to my long position it gets close to hat next week as Brexit fears mount. If the UK votes to stay in the EU I have little doubt SAN will recover very nicely.. Of course, if they vote to leave, then all bets are off as to where this goes, at least in the shorter term. .
Scalping is a very lucrative business for the investment bankers aka money mafia. In the case of the SU offering, the club is very exclusive indeed. Only the biggest boys get to buy in. Them good ole USA boys get the VIP treatment too. The losers, as always, are the common folk who get to fight over the scraps at the buffet table after the party's over and the glutons are sitting back at home drunk and bloated puffing away on a big cuban stogie..
@Suncor Energy Inc.’s $2.5-billion share issue has left some investment bankers in Calgary feeling jilted. Canada’s biggest energy company launched the bought deal this week to critical acclaim among investors, who expressed interest in buying at least twice as many shares as Suncor issued. Underwriters will earn more than $80-million in fees, based on the syndicate’s 3.25-per-cent cut. It’s the makeup of the syndicate that has some noses out of joint. Not surprisingly, the deal is led by the investment arms of major banks: Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and J.P. Morgan Chase. However, the other 12 underwriters are all also lenders to Suncor, including foreign players with little presence here. Notably absent are Calgary-based boutique dealers and national independents, which are slowly gaining back business after a dismal 2015, when the oil-patch downturn squelched the deal flow and forced many to make deep cuts to their work forces. “The domestic and the U.S. banks make sense. But to the extent they shut out other local players to give small syndicate positions to foreign banks with no real presence here, who employ no people here, and where no one relies on their research, makes no sense to me,” one executive at an independent dealer said.
Yeah sure, market dynamics, otherwise known as flipping shares. Scalping is a great gig for those in the special queue.
Monkey games at their finest hour.
2011-2014 Share buyback. Based on the share price during the big buyback, I'd guesstimate the average price paid was ~$35 for a total buyback value ~$3.5B
2016 Secondary offering of at ~$35 for proceeds of ~$2.5B
@From the Q3-2014 CC @As we promised in our last quarterly call, we aggressively executed on our share buyback program. During the last quarter we invested $522 million to purchase almost 12 million Suncor shares. Since commencing the buyback program just over three years ago, we have now repurchased and cancelled over 9 percent of our outstanding shares. At the current price levels we continue to be strong buyers of the stock.
@CALGARY—Suncor Energy says it plans to raise $2.5 billion in a share offering to pay for an increased stake in the Syncrude joint venture. The Calgary-based company said the money would help reduce its debt and go toward paying for the $937-million acquisition of Murphy Oil’s 5 per cent stake in the joint venture that Suncor announced in late April. It says it will sell 71.5 million shares at a price of $35 a share in the deal made through a syndicate of underwriters led by TD Securities Inc., CIBC Capital Markets and J.P. Morgan Securities Canada Inc.
Volume still below average but looks like some selling pressure has kicked in. It's to be expected that some of the BXLT shareholders will want to exit. The only question is how many.
Two year suspension for a simple oversight. Her coach or trainer should really have caught this. Commendable of NKE to remain committed to her after this.
@NEW YORK (AP) — Nike says it "will continue to partner" with Maria Sharapova, despite her two-year suspension for failing a drug test. The sportswear giant said in a statement Wednesday: "We hope to see Maria back on court." Sharapova was punished by a three-person Tennis Anti-Doping Program tribunal appointed by the International Tennis Federation, which concluded she took meldonium "for the purpose of enhancing her performance." She had been taking it since 2006.
Nice profit you made there on GMCR. I barely missed buying it down around 21 back then. To me GMCR was definitely a speculative stock.
NSRGY is a core holding for me. Other core holdings include big tobacco stocks RAI, MO, and BTI. I've had those, and pharma company SHPG, for probably close to 20 years now. I also hold energy infrastructure TRP, PBA, and ENF.TO, telcos BCE and MBT.TO., and transport railroader CNI These stocks make up about 60% of my portfolio. I hold the balance in a mix of cash, cycle stocks, and speculative shorter term plays. Never been big on bonds or financials like the banks, but if interest rates ever show a sustained recovery, I may diversify into that.
Anyway, best of luck to you. I think you will be satisfied with NSRGY ten years from now.
I think you can use the RAI buyout of LO last yeas as a reference. Here's the relevant part. I hope it helps.
2) As a LO shareholder, what will I receive as a result of the acquisition?
For every LO share, holders will receive $50.50 in cash plus 0.2909 shares of RAI common stock.
Pursuant to the merger agreement, any resulting fractional shares of RAI common stock will also be
redeemed for cash at the rate of $72.2977.
6) What is the cost basis of my new shares of RAI?
The cost basis for RAI shares paid to LO shareholders receiving those shares as a result of the
transaction is $72.15 per share. This was the closing price of RAI shares on June 11, 2015, the last
trading day prior to the date the transaction was completed.
7) What is the tax treatment for the cash and shares I receive?
The transaction is considered a taxable event for LO shareholders. The following information is
provided only as an example and for reference. By providing this example, Reynolds American Inc. is
not providing legal and/or tax advice. As everyone’s situation is different, you should consult your
tax advisor to determine specifically how this transaction affects you.
This example assumes a LO shareholder held 100 shares of LO at the time of the merger on June 12,
2015. The total consideration received by the LO shareholder would be $7,148.86.
1) 100 shares of LO multiplied by$50.50 = $5,050.00 cash received
2) 100 shares of LO multiplied by 0.2909 shares of RAI = 29.09 shares of RAI received
a. 29 shares of RAI multiplied by $72.15 (closing price of RAI on 6/11/2015) = $2,092.35
b. 0.09 fractional shares of RAI multiplied by $72.2977 = $6.51 cash received
Total consideration received: $5,050.00 + $2092.35 + $6.51 = $7,148.86
Rolling a plane out onto the tarmac is not the same as carriers starting to fly it. This plane schedule is a year plus behind BBD. Let's compare notes again summer of 2017.
@According to Irkut Corp., the MC-21 backlog includes 175 firm orders. “The number of soft orders exceeds 100 aircraft,” the manufacturer said. Its customers include Russia’s Aeroflot, Red Wings, IrAero, Sberbank Leasing, Ilyushin Finance Co. and Air Kyrgyzstan. The manufacturer has not revealed the exact timeframe for testing and certification processes, saying the “МС-21 aircraft will be certified both to Russian and international standards.
No apology necessary. I've been long NSRGY since 2010 and will continue to hold for many years to come. The company is about as solid as you can get in the space. They appear to have run into a bit of a headwind lately - very conservative company in my view - but when I see news like the China moves I am confident they will figure it out and recover faster growth again. Their holding in L'Oreal is an interesting diversification too.
PS: I noticed GMCR (or more accurately the private equity that owns it now) is yanking their Keurig Kold system that KO was so confident about before they sold their stake.
@Keurig Green Mountain, which made its name as a maker of single-cup coffee machines, is laying off more than 100 workers after its Keurig Kold home soda machine system fizzled out after less than a year on the market. The company said Tuesday it’s discontinuing the first generation of Kold and offering customers refunds for the full purchase price. The home soda-making machine debuted last fall to questions about its affordability for the average consumer. The suggested retail price of the bulky countertop units was $369.99, with each soda pod costing more than a dollar — significantly more expensive than buying and storing cans of soda in your fridge. Keurig said 130 employees will be affected, 108 of them in Vermont, and most of them workers on Kold pod manufacturing and related support teams. Vermont Gov. Peter Shumlin said his understanding was that other parts of the company would not be affected. The company had high hopes when its Kold machines debuted, suggesting they could eventually be bigger than its coffee brewers, which it said at the time were in about 17 per cent of U.S. households. It didn’t say specifically what caused it to pull Kold, but acknowledged that what they learned from the Kold rollout would be incorporated into future beverages makers.
What I don't understand is why the SEC decided that dark pools and HFT systems were acceptable and/or necessary to begin with. Both mechanisms seem to run counter to the principles of an equitable and transparent public market system.
You are the one being naive if you believe that BBD will continue to do deals at that discount rate for the foreseeable future. The 60% off sale is nearing its end.