84.62 +0.01 (0.01%)
After hours: 4:22PM EDT
|Bid||0.00 x 0|
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|Day's range||84.07 - 85.32|
|52-week range||68.76 - 89.04|
|PE ratio (TTM)||-351.08|
|Forward Dividend & Yield||N/A (N/A)|
|1y target est||N/A|
Jim Cramer says three tie-ups, including the potential deal between T-Mobile and Sprint, justified his bullishness in a red-hot market.
Companies with strong earnings and good trading track records, including telecommunications provider CenturyLink (NYSE: CTL - news) and food company Post Holdings (Frankfurt: A1JS25 - news) , are tapping the US leveraged loan market at ever-tighter spreads as investor demand remains strong for floating rate assets. At the same time, similarly-rated issuers such as nutritional supplement maker GNC and lift trucks maker Hyster-Yale are facing higher pricing as lenders demand better economics for taking higher risk in weaker sectors. “Job number one for institutional investors in credit markets is to avoid big losers,” a senior banker said.
Jim Cramer addressed acquisitions by Post Holdings and Cardinal Health that Wall Street seems to have missed.
Associated British Foods (LSE: ABF.L - news) ' Primark discount fashion retailing arm traded well through Britain's Easter holiday period, the group's boss said on Wednesday, countering fears that British consumer demand was fading. "In clothes the effect of consumers tightening their belts is probably swamped by a later Easter, good weather and great ranges in store,” Chief Executive George Weston told Reuters. Primark's UK like-for-like sales rose 2 percent in the six months to March 4.
LONDON/SHANGHAI/NEW YORK, April 18 (Reuters) - Post Holdings (Frankfurt: A1JS25 - news) is buying leading British breakfast cereal brand Weetabix from China's Bright Food Group Co Ltd for 1.4 billion pounds ($1.8 billion), giving the U.S.-focused company a European base on which to build. The combination will help Post's existing brands, which include Honey Bunches of Oats and Grape-Nuts, to expand overseas, while allowing for greater distribution of Weetabix and its Barbara's brand in North America, the St.Louis-based company said on Tuesday. The acquisition of Weetabix's manufacturing and distribution assets in Europe should also allow Post to more easily digest other overseas businesses that might become available, in cereal and beyond, Chief Executive Rob Vitale said.
British cereal maker Weetabix is to be sold to a US company, it has been confirmed. A spokesman for Bright Food Group, a Chinese company, said it has agreed to sell the iconic brand to Post Holdings (Frankfurt: A1JS25 - news) for £1.4bn. Bright (Taiwan OTC: 5244.TWO - news) has owned Weetabix since 2012, when it took over from Lion Capital.