Home-Price Increases in 20 U.S. Cities Hold Steady in April
Bloomberg By Victoria Stilwell
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Home prices in 20 U.S. cities rose at a steady pace in April from a year earlier, a sign demand for residential real estate remains solid enough to support both buyers and sellers, data from New York-based S&P/Case-Shiller showed Tuesday.
Twenty-city property values index increased 5.4 percent from April 2015 (matching median forecast) after climbing 5.5 percent in the year through March
National home-price gauge rose 5 percent from 12 months earlier after 5.1 percent in the year ended in March
On a monthly basis, seasonally adjusted 20-city measure increased 0.5 percent from March, the smallest gain since September (rounded), after climbing 0.8 percent
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Health-care giant McKesson Corp.(MCK) on Tuesday said it plans to form a health-care information-technology joint venture that it expects to take public later in an initial public offering.
The planned company will combine most of McKesson's(MCK) technology segment with the bulk of Change Healthcare Holdings Inc., which is majority owned by Blackstone Group LP(BX).
McKesson (MCK) would own 70% of the new company, with the rest owned by Change Healthcare's shareholders, including Blackstone and Hellman & Friedman LLC.
The new company has received commitments for $6.1 billion of debt, with proceeds targeted to repay $2.7 billion of Change Healthcare's debt, as well as make payments of $1.25 billion to McKesson(MCK) and $1.75 billion to Change Healthcare's holders.
The deal excludes McKesson's(MCK)RelayHealth Pharmacy business and its enterprise-information segment. McKesson(MCK) separately said it plans to explore strategic options for the EIS unit.
Earlier this month The Wall Street Journal reported that McKesson(MCK) was considering a separation of its information- technology unit as the company grapples with pricing pressure in its core drug-distribution business.
McKesson (MCK) said the businesses in the new venture generated combined revenue of $3.4 billion for the year ended March 31. The venture aims to generate more than $150 million in annual cost savings by the second year after closing, which is expected in the first half of next year.
McKesson (MCK) Chief Executive John H. Hammergren will be chairman of the venture, while Change Healthcare CEO Neil de Crescenzo will lead the new firm. Mr. Hammergren said the ve
Morgan Stanley reiterated its buy rating on Alibaba with a 130.60 price target on the Chinese e-commerce leader, implying a huge upside in the stock.
Earlier this month, Alibaba affiliate Alipay bought a stake in Thai payments company Ascend Money.
Alibaba shares were up 2% at 75.70 in early trading.
American luxury real estate brokers are hoping Brexit will lead to money flowing to high-end properties on this side of the Atlantic.
The post-Brexit vote selloff in equities took a particularly heavy toll on British homebuilder shares. For example, Persimmon (PSMMY) lost a third of its value in Friday’s trading.
Central London, after all, had for many years been the safe haven real estate market for many moneyed purchasers. In 2013, roughly three-quarters of all newly built central London residences were bought by non-Brits, according to research by brokers Knight Frank. About 44% were from Singapore, Hong Kong, and China, with Russia and the Middle East also represented.
But last year, the “super-prime” market in the city (homes above £10 million) saw a decline by a third, in part because of higher property transaction taxes.
With Britain now seeking to end its membership in the European Union, US luxury real estate brokers are anticipating that overseas investors in the London market will unload their properties and take their money stateside.
Companies with bloated cash piles typically make investors nervous as they are not investing to aid growth or boost returns.
Alibaba Pictures, the media arm of Chinese e-commerce company Alibaba Group(BABA), had almost 63 percent of its assets in cash as of Dec. 31, HSBC said.
The figure was 50 percent for Hong Kong-based Power Assets(HGKGF) , after it sold down its stake in Hong Kong Electric Co. last year.
Both companies said in e-mailed statements that their cash reserves gave them the flexibility to pursue any opportunities that might arise, but did not comment on whether there were many opportunities in the current economic climate.
On Monday, shares in McLean, Virginia headquartered hospitality Company, Hilton Worldwide Holdings Inc., recorded a trading volume of 12.87 million shares, which was above their three months average volume of 7.33 million shares. The stock ended the session 3.07% higher at $23.16. The Company’s shares have gained 12.32% in the last one month, 3.68% in the previous three months, and 8.93% since the start of this year. The stock is trading 6.68% above its 50-day moving average and 5.74% above its 200-day moving average. Moreover, shares of Hilton Worldwide Holdings, which owns, leases, manages, develops, and franchises hotels, resorts, and timeshare properties globally, have a Relative Strength Index (RSI) of 69.92.
of its 3 month consolidation HLT... Just need to see the end of June prices versus March numbers..of course the Brit voting still needs to happen
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Scout24 may start paying dividend ahead of schedule - CEO
REUTERS 4:18 AM ET 6/16/2016
BERLIN, June 16 (Reuters) - Online classified ads firm Scout24 may start paying dividends earlier then planned, the company's chief executive told Reuters in an interview.
Greg Ellis said that Scout24 was ahead of plan in reaching its debt target of 2.5 times earnings before interest, tax, depreciation and amortisation (EBITDA), which it had aimed to reach by the middle of next year.
"Right now we are ahead of that schedule. Once we have reached that goal it would be possible to think about paying a dividend," Ellis said.
The former unit of Deutsche Telekom listed some of its shares last year. Deutsche Telekom still owns 11 percent of Scout24, while private equity firms Hellman&Friedman and Blackstone jointly control 40 percent of the company, according to Thomson Reuters data.
Ellis said that to his knowledge there were no plans by the owners to sell part of their shares. (Reporting by Nadine Schimroszik; Writing by Harro ten Wolde; Editing by Maria Sheahan)
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Blackstone Mortgage Trust Inc declares 0.62 Dividend
THOMSON REUTERS STREET EVENTS 12:18 AM ET 6/16/2016
Symbol Last Price Change
BXMT 27.8386down -0.0514 (-0.18%)
QUOTES AS OF 11:13:42 AM ET 06/16/2016
On June 15, 2016 the board of directors at Blackstone Mortgage Trust Inc(BXMT) approved a dividend of 0.62 per share. The dividend is payable on July 15, 2016 to shareholders of record on June 30, 2016.
Steven Smigle of Raymond James this morning reiterates an Outperform rating on NXP. He thinks the company got a good deal for the unit:
We think a 2.3x selling price based on the past four quarters sales is a generous offer for a business that shrunk in revenue by 3% in 2015 and overall had low margins (NXP was targeting for the standards products to have a 30-34% gross margin and a 20-24% operating margin). Other recent take-outs of discrete semiconductor companies include Infineon paying 2.7x last 12 months sales for International Rectifier in 2014 and ON’s upcoming acquisition of Fairchild in which it agreed to pay 1.7x last 12 month sales. This deal comes right in the middle of these two. We think the Chinese consortium likely paid the premium due to the limited supply of quality standard products businesses left to takeover.
In a banner year for deal activity by Chinese buyers, NXP Semiconductors NV NXPI, -1.16% has struck another asset-sale pact with Jianguang Asset Management Co.
The chip company has agreed to sell its Standard Products unit to state-owned investment firm Jianguang and private-equity firm Wise Road Capital for about $2.75 billion.
Just over six months ago, NXP sold its RF Power unit to Jianguang for $1.8 billion, a deal that helped clear the way for NXP’s purchase of Freescale Semiconductor Ltd.
The Standard Products business had 2015 revenue of $1.24 billion. NXP’s total revenue in 2015 was $6.1 billion, a figure that included about one month of Freescale results. The Standard Products operations include discrete, logic and PowerMOS chips.
still owns 17 million shares..need to give shareholders a better payout in this difficult market.. Brixit will be a big event maybe..
BX has a lot of deals in the works..just dont know when they will be finalized and contribute to earnings...