|Ask||39.00 x 100|
|Day's Range||34.22 - 34.33|
|52 Week Range||27.18 - 35.91|
|PE Ratio (TTM)||23.57|
|Dividend & Yield||1.34 (3.89%)|
|1y Target Est||N/A|
RH (NYSE:RH), Devon Energy Corp (NYSE:DVN) and Canon Inc (ADR) (NYSE:CAJ) shareholders are all starting the weekend in a bad mood, but for good reason. Once-iconic camera and photocopier company Canon extended what’s now become a month-long pullback on Friday, with CAJ shares losing another 2.8% of their value following news that the E.U. is mulling a rather stiff fine. The European Union’s commerce watchdog is suggesting that Canon may have violated merger and acquisition rules in the way it acquired a medical unit from Toshiba.
Canon Inc's stock fell to its lowest levels in more than two months on Friday after EU regulators said they may fine it up to 10 percent of annual revenue for jumping the gun in its acquisition of Toshiba Corp's medical unit. The EU Commission said it had reached a preliminary view that Canon breached rules by using a so-called "warehousing" two-step transaction structure involving an interim buyer to buy the company prior to obtaining relevant approvals. Ten percent of Canon's annual revenue would be roughly equivalent to $2.9 billion.
If the EU finds any problems with the deals, the companies could have to pay up to 1% of global revenue as a fine.