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Highlights: October 19 - October 24, 2015

Staff writer ▼ | October 26, 2015
The summary of the last week's key headlines and the most interesting stories.
Highlights of the week
WEEK AT A GLANCE  
China hold $1.2705 trillion in U.S. treasuries

U.S. TreasuryChina increased its holding of U.S. Treasury securities in August, while Japan cut its share....

ChemChina close to delisting and splitting Pirelli

ChemChinaChemChina has completed the acquisition of just under 87 percent of Pirelli’s ordinary shares, which means that delisting of Pirelli is now very close....

Freddie Mac brings another $1 billion for Manufactured Housing Community

Freddie MacFreddie Mac brings more capital for affordable rural housing by purchasing more than $1 billion in Manufactured Housing Community (MHC) loans in 18 months....

Morgan Stanley net revenues down from $8.9 billion to $7.8 billion

Morgan StanleyMorgan Stanley reported net revenues of $7.8 billion for the third quarter ended September 30, 2015 compared with $8.9 billion a year ago....

Valeant Pharmaceuticals Q3 total revenues increase 36%

ValeantValeant Pharmaceuticals reported third quarter 2015 financial results. Total revenues were $2.8 billion, an increase of 36% over the prior year despite negative foreign exchange impact of $172 million....

Microsemi wants PMC-Sierra in $2.4 billion transaction

MicrosemiMicrosemi submitted an offer to acquire PMC-Sierra in a cash and stock transaction. Based on the closing stock price of Microsemi on October 16, 2015, the transaction is valued at $11.5 per PMC share....

Wex to acquire Electronic Funds Source in $1.5 billion deal

WexWex has entered into a definitive agreement to acquire Electronic Funds Source (EFS) for a total consideration of approximately $1.1 billion in cash and 4 million shares of common stock....

Celanese Q3 adjusted EBIT margin record 21.6 percent

CelaneseCelanese Corporation reported third quarter 2015 adjusted earnings per share of $1.50. Adjusted EBIT margin was a third quarter record at 21.6 percent, 150 basis points higher than the prior year quarter and 40 basis points below the prior quarter....

Sonic net income per diluted share increased 31%

Sonic CorpSonic Corp. announced results for its fourth fiscal quarter and year ended August 31, 2015. Net income per diluted share was $1.20 compared with net income per diluted share of $0.85 in fiscal 2014....

Chinese companies to invest $5 billion in India

Sany GroupChina's construction equipment manufacturer Sany Group and Chint Group have unveiled plans to invest around $5 billion in the country's renewable energy, construction equipment and housing sectors....

SAP cloud subscriptions and support revenue grew 116%

SAPSAP SE announced its financial results for the third quarter ended September 30, 2015. Non-IFRS cloud subscriptions and support revenue grew 116% year-over-year (90% at constant currencies) to €600 million....

Lock-up Chinese shares worth $12.6 billion to become tradable

Chinese sharesLock-up shares worth nearly 80 billion yuan ($12.6 billion) will become eligible for trade on China's stock market next week....

GigOptix reports record revenue of $10.4 million

GigOptixGigOptix announced financial results for its third quarter of fiscal year 2015, which ended September 27, 2015. GAAP total revenue in Q3 FY15 was a record $10.4 million....

Amazon creating more than 100,000 seasonal jobs

AmazonAmazon is creating 100,000 seasonal positions across its U.S. network of fulfillment and sortation centers this holiday season in order to meet the increase in customer demand....

Google to buy part of largest wind park in Africa

Lake TurkanaUpon completion of the project in 2017, Google will acquire Vestas' 12.5 percent stake in Africa’s largest wind park....

TeamHealth doesn't want to be sold in $7.8 billion deal

TeamHealthAmSurg Corp. announced a proposal to combine with Team Health Holdings in a stock-and-cash merger at a fixed exchange ratio of 0.768x AmSurg shares per Team Health share, which will result in pro forma 50/50 ownership of the combined company....

NVR Q3 net income and diluted EPS increased 29% and 31%

NVRNVR announced net income for its third quarter ended September 30, 2015 of $116,470,000, or $27.11 per diluted share....

Canada to import beef from Europe after 19 years

BeefCanada is allowing European beef back onto its market, 19 years after the meat was banned because of mad cow disease, top EU officials said....

Western Digital to buy SanDisk in $19 billion deal

SanDiskWestern Digital Corporation will acquire all of the outstanding shares of SanDisk for a combination of cash and stock. The offer values SanDisk Corporation common stock at $86.50 per share or a total equity value of approximately $19 billion....

ARM Holdings Q3 profit increased 27 percent

ARM HoldingsARM Holdings reported a 27 percent rise in third quarter profit. Revenue in dollars rose 17 percent to $375.5 million (243 million pounds)....

SanDisk Q3 revenue of $1.45 billion down 17 percent

SanDiskSanDisk Corporation announced results for the third quarter ended September 27, 2015. Revenue of $1.45 billion decreased 17 percent on a year-over-year basis and increased 17 percent sequentially. ...

Lam Research to buy KLA-Tencor in $10.6 billion deal

Lam ResearchSemiconductor equipment maker Lam Research agreed to buy rival KLA-Tencor in a deal valued at about $10.6 billion....

SolarWinds to go private after $4.5 billion takeover

SolarWindsSolarWinds agreed to be taken private by investment firms Silver Lake Partners and Thoma Bravo for $4.5 billion....

American Tower buy 51 percent in Viom Networks for $1.17 billion

Viom NetworksAmerican Tower agreed to buy a 51 percent controlling stake in Indian mobile mast operator Viom Networks for 76 billion rupees ($1.17 billion)....

Hyundai Motor Q3 profit decreased 23 percent

Hyundai MotorHyundai Motor said its third quarter net profit fell 23 percent from a year earlier, as the company soaked up the impact of slowing China sales and aggressive discounting campaigns....

Sallie Mae net interest income increased 22 percent

Sallie MaeSallie Mae, formally SLM Corporation, released third-quarter 2015 financial results. Net interest income increased 22 percent from the year-ago quarter to $175 million....

AT&T Q3 revenues totaled $39.1 billion, up nearly 19%

AT&TAT&T reported double-digit revenue, adjusted operating margin, adjusted EPS and free cash flow growth in the third quarter....

Amazon Q3 net sales increased 23% to $25.4 billion

AmazonAmazon.com announced financial results for its third quarter ended September 30, 2015. Net sales increased 23% to $25.4 billion....

Skechers USA Q3 net sales jumped to $856.2 million

Skechers USASkechers USA announced financial results for the third quarter ended September 30, 2015. All share and per share information has been retroactively adjusted for the three-for-one stock split that was effective on October 15, 2015....

Santos rejects $7 billion takeover offer from Scepter Partners

SantosOil and gas producer Santos has rejected a $7.1 billion takeover offer from a syndicate of ultra-high wealth investors including Middle East and Asian ruling families....

China's IoT services revenues to grow to $41 billion by 2020

China IoTChina's Internet of Things (IoT) services revenues will grow more than five times in the next five years, exceeding $41 billion by 2020....

American Airlines reports highest quarterly profit in company history

American AirlinesAmerican Airlines Group reported its third quarter 2015 results. Reported record quarterly net profit was $1.9 billion excluding net special charges, a 54 percent increase versus the third quarter 2014....

Auto sales to enjoy best October since 2001

Auto salesEdmunds forecasts that 1,424,568 new cars and trucks will be sold in the U.S. in October for an estimated Seasonally Adjusted Annual Rate (SAAR) of 17.8 million....

Uruguayan companies plan to cut investment by 27% in 2016

UruguayCompanies plan to cut investment by about 27 percent next year, the Uruguayan Chamber of Industries said, according to a survey....

CEO Dorsey gave $200 million of his money to Twitter employees

Jack DorseyTwitter CEO and co-founder Jack Dorsey said he is giving a third of his stock in the company, about 1 percent, to the employee equity pool....

Strongest storm ever measured to hit Mexico

Hurricane PatriciaHurricane Patricia, the strongest storm ever measured in the Western Hemisphere early Friday, is bound to hit Mexico's Pacific coast between 6 to 10 p.m. ET Friday....

Under Armour Q3 net revenues increased 28%

Under ArmourUnder Armour announced financial results for the third quarter ended September 30, 2015. Net revenues increased 28% to $1.2 billion compared with $938 million in the prior year's period....

Feed industry: No GMO means no jobs

PoultryA feed industry assessment has suggested that an "opt-out" proposal, for EU member states to be allowed to prohibit the use of GM feed in their countries, would lead to reduced competitiveness of the livestock and poultry sector....

Imprimis Pharma offers $1 alternative to medicine that skyrocketed 5000%

Imprimis PharmaceuticalsImprimis Pharmaceuticals has made available a customizable compounded formulation of pyrimethamine and leucovorin available as a low cost alternative to Daraprim....


 

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