Market News
Citigroup (C)
Citi Wednesday announced the pricing of 5.4 billion common shares and 35 million tangible equity units as part of its agreement with the U.S. government and its regulators to repay U.S. taxpayers for the $20 billion the government holds in TARP trust preferred securities and to terminate the loss-sharing agreement with the government. The common stock priced at $3.15 per share, generating net proceeds of approximately $17 billion. The tangible equity units priced at $100 each, generating net proceeds of approximately $3.5 billion (about $2.8 billion counted as equity.) The combined offering of common stock and tangible equity units is the largest public equity offering in U.S. capital markets history.
Dec 17 · 10:44:00 AM · Source: Company News
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by Larry Etter
Bank of America (BAC)
The Bank of America Board of Directors late Wednesday elected Brian T. Moynihan as CEO and president of the company. He will assume the office and join the Board of Directors following the retirement of Kenneth D. Lewis on December 31, 2009. Moynihan, 50, has held senior leadership positions at Bank of America representing experience across virtually all business lines. He currently is president of Consumer and Small Business Banking.
The naming of Moynihan takes the shroud of uncertainty off BofA.
Dec 17 · 10:21:00 AM · Source: Company News
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by Larry Etter
Pepsico (PEP)
Gatorade, a unit of PepsiCo, is looking to innovate itself out of a sales slump and will spend some $30 million on product and packaging development to do so, according to Advertising Age. The granddaddy of the sports-drink category, Ad Age says, is pushing forward with plans to introduce "G Series," a grouping of three product categories, while giving another facelift to its core product lines.
Dec 15 · 12:54:00 PM · Source: Advertising Age
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by Larry Etter
Coca-Cola (CCE)
Coca-Cola Enterprises Tuesday announced that it had elected Véronique Morali, vice chairman of the Fitch Group, as a director, effective February 11, 2010.
Dec 15 · 12:18:00 PM · Source: Company News Release
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by Larry Etter
Coca-Cola (CCE)
Coca-Cola Enterprises Tuesday announced that it had elected Véronique Morali, vice chairman of the Fitch Group, as a director, effective February 11, 2010.
Dec 15 · 12:17:00 PM
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by Larry Etter
Boeing (BA)
Reuters reported that Boeing Co. is set to make the first test flight of its 787 Dreamliner on Tuesday, almost two and a half years after the new, fuel-efficient plane, which is key to the company's financial future, was supposed to fly. The lightweight carbon and titanium plane, promising to save airlines million of dollars in fuel and maintenance costs, has been hampered by a shortage of bolts, faulty design and a two-month strike.
Dec 15 · 11:52:00 AM · Source: Reuters
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by Larry Etter
Whirlpool (WHR)
Whirlpool Corporation said today it had appointed William D. Perez, former president and CEO of Wm. Wrigley Jr. Company, to its board of directors.
Dec 15 · 11:38:00 AM · Source: Company News
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by Larry Etter
Astrazeneca PLC (AZN)
AstraZeneca and the University of Virginia in Charlottesville Tuesday announced that they have entered into a strategic research collaboration to enhance development of new treatments primarily for coronary artery disease (CAD) with a secondary focus on peripheral vascular disease (PAD).
http://www.prnewswire.com/news-releases/astrazeneca-and-the-university-of-virginia-sign-strategic-research-collaboration-to-develop-novel-treatments-for-cardiovascular-disease-79304982.html
Dec 15 · 10:42:00 AM
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by Larry Etter
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