Tag Archives: Companies

Wall Street dropped on disappointing earnings from companies including Morgan Stanley and eBay as well as the latest economic indicators suggesting a slowdown in the pace of the recovery. Shares of Morgan Stanley and eBay fell, last down 4.7 percent and 5.4 percent respectively, as they posted results that fell short of expectations. So did UnitedHealth Group, sending its shares …

James Hardie Industries, the Australian building products company, has halted trading in its ASX-listed shares pending an announcement over legal action by New Zealand’s Ministry of Education. The company requested the halt until it makes an announcement later today, it said in a statement to the ASX. The shares last traded at A$9.77 on the Australian stock market. “The company …

Guinness Peat Group, which expects to rebrand itself as UK threadmaker Coats later this year, anticipates it will reap 92 million pounds from its latest round of asset sales. The London-headquartered will have raised 129 million pounds from assets sales and capital returns this year, taking its total cash raised to 587 million pounds since embarked on liquidating its portfolio …

Chorus, the telecommunications network operator spun out of Telecom, has signed contracts with Visionstream and Downer worth some $1 billion for those firms to build the nation’s ultrafast broadband network, and is still in talks with Transfield Services. The Wellington-based company inked two contracts each worth some $500 million over the next six years and include extra amounts for Downer …

Diligent Board Member Service’s directors have come up with a new incentive scheme for chief executive Alex Sodi to replace the stock options it has to cancel after granting him too many. The plan, which will be put to shareholders on June 4 at the annual meeting, will offer Sodi stock and options provided he meets revenue and earnings growth, …

Property for Industry led the NZX50 up before lunchtime today as it announced a deal to merge with Direct Property Fund, an unlisted PIE in the same sector, to create a commercial property empire worth close to $800 million. PFI shares were up 4.9 percent at 11am, at $1.40, and were showing a 14.1 percent gain over the last 12 …

Summerset Group, the retirement village operator and developer, is pressing ahead with plans for a $100 million site in Lower Hutt after completing due diligence. The Wellington-based company plans to buy the 3.3 hectare site from Boulcott’s Farm Heritage Golf Club for its 20th retirement village, it said in a statement. The contract needs Overseas Investment Office approval, which is …

A slew of corporate earnings results will likely set the mood in the coming days following last week’s record run that boosted Wall Street to its best weekly performance this year. In the past five days, the Dow Jones Industrial Average gained 2.1 percent, the Standard & Poor’s 500 Index advanced 2.3 percent while the Nasdaq Composite Index rose 2.8 …

Guinness Peat Group’s wind-down may face a bump in the road after the UK Pensions Regulator indicated it’s taking a look at two of the pensions schemes the investment firm is responsible for. The group, which expects to rebrand under the name of its UK threadmaker unit, Coats, later this year, has been told by the British regulator the watchdog …

Guinness Peat Group chairman Rob Campbell, who was brought into the investment firm to oversee its wind-down, has joined the board of rental campervan operator Tourism Holdings. The appointment takes the number of independent directors on the Tourism Holdings board to five of the six-strong board, and the company expects to make another addition in coming months, said independent director …