Tag Archives: Companies

The Dow Jones Industrial Average advanced, boosted by shares of Merck and Intel, though disappointing manufacturing data kept a lid on gains. Shares of Merck, last up 4.1 percent, bolstered the Dow as one of the company’s new cancer drugs showed promising results in an early study. Shares of Intel also advanced, last up 3.1 percent, after a FBR Capital …

Transpower, the state-owned electricity grid company, has sold its d-cyphaTrade unit to Australian stock market operator ASX for A$55 million. Transpower set up d-cyphaTrade in 2002. It promotes Australian exchange-traded electricity futures and then sells related training and information products. It had income of $10.4 million in 2012, down from $12.7 million a year earlier. “d-cyphaTrade and its future development …

Port of Tauranga chairman John Parker will retire in October after nine years leading the board and 17 as a director of the country’s biggest export port. David Pilkington, a director of the company since 2005, will replace Parker while former Waste Management chief executive Kim Ellis has been appointed an independent director. During Parker’s tenure as a director, the …

Shares in SLI Systems, a website search operator, rose as much as 20 percent after listing on the NZX this morning, joining a slew of New Zealand companies going public in the face of resurgent demand for the returns available from equities. SLI, which provides online retailers with search tools, rose to NZ$1.80 on listing at 10.30 am, 30 cents …

Turners & Growers, the fruit marketer controlled by Germany’s BayWa Aktiengellschaft, has mopped up the 30 percent in specialist producer exporter Delica it doesn’t already own from managers for $25.8 million. Turners & Growers has been granted a waiver from having to hold a shareholder vote on the transaction after BayWa, with 73 percent and Bartel Holdings with about 12 …

AWF Group managing director Simon Hull and his family interests have sold down their stake in the contract labour firm at a 7.9 percent discount in a bid to boost liquidity in the stock and attract institutional investors. Hull sold 2.5 million shares at $2.90 apiece, for some $7.25 million, in off-market transactions placed by Craigs Investment Partners, the company …

Metlifecare, the retirement village operator and developer, raised $70 million at an 8.3 percent discount in a placement to institutional investors after yesterday’s bookbuild process was completed. Some $22.6 million shares were sold at $3.10 apiece after the bookbuild, which set the price, having been halted at $3.38 before the sale. Metlifecare plans to raise a further $10 million in …

SmartPay, the eftpos terminal company, narrowed its annual loss to $5.9 million and said it hasn’t yet recorded the full benefits of its restructuring and acquisitions. The net loss narrowed from a year-earlier loss that was restated to $12.7 million. Sales climbed to $17 million from a restated $16.5 million. In December, the company agreed to buy eftpos terminal provider …

NPT, the listed property investor, turned to a profit in 2013 after it gained from payouts on an earthquake damaged Christchurch building and the overall value of its properties rose. The Auckland-based retail, commercial and industrial property investor reported profit of $33 million in the year ended March 31, from a loss of $2.3 million a year earlier. The value …

Tenon, the wood mouldings company, said it may return to profit this year as a pickup in the US housing market stokes demand for building products. The shares soared 16 percent. Operating profit before finance costs would be between zero and US$1 million in the year ending June 30, from a loss of US$8 million a year earlier, the company …