On Friday, Shares of Itau Unibanco Holding SA (ADR) (NYSE:ITUB), added 0.99% and closed at $12.20 in the last trading session. The last trading range of the stock ranges between $12.12 and $12.27. In compliance with the provisions of Section 157, Paragraph 4, of Law No. 6,404/76 and the Brazilian Exchange Commission (CVM) Instruction No. 358/02, Itaú Unibanco Holding S.A. (“Itaú Unibanco”) declares to the market that it, acting through its merged auxiliaries Itaú Unibanco S.A. and Itaú Corretora de Valores S.A., on date hereof, reached an Equity Interest Purchase Agreement with Citibank S.A. and other companies of its group (“Citibank”) for the acquisition of the retail business (for individuals) carried out by Citibank in Brazil, counting loans, deposits, credit cards, branches, asset administration and insurance brokerage, in addition to of the equity investments held by Citibank in TECBAN – Tecnologia Bancária S.A. (representing 5.64% of its capital) and in Cibrasec – Companhia Brasileira de Securitização (representing 3,60% of its capital), for R$ 710 million.
This transaction will involve the corporate restructuring of some companies of the Citibank group, so that the retail business in Brazil is spun off and transferred to the companies that will be subject to the acquisition.
Citibank (with 71 branches) offers financial products and services to individuals in the retail segment in Brazil, counting checking accounts, loans and credit cards, comprising about a client base of 315,000 checking account holders, R$ 35 billion in deposits and assets under administration (gross amounts on the base date of December 31, 2015), 1.1 million credit cards and a loan portfolio of R$ 6 billion. With this acquisition, Itaú Unibanco’s assets will reach to R$ 1,404 billion. The impact on Itaú Unibanco’s core capital resulting from this transaction is estimated at about 40 bps (Basel III Full Ratio).
United States Steel Corporation (NYSE:X), dropped -0.18% and closed at $16.42 in the last trading session. The last trading range of the stock ranges between $16.32 and $16.95. The company’s Market capitalization is $2.71 Billion with the total Outstanding Shares of 165.61 million. United States Steel Corporation (NYSE:X) declared recently that interested stockholders, shareholders and others may listen to the company’s third quarter 2016 conference call with securities analysts on Wednesday, Nov. 2, 2016, at 8:30 a.m. EDT. The call, which will be available via the U. S. Steel website, will cover third quarter 2016 financial results and may include forward-looking information. The company plans to release its third quarter 2016 financial results following the close of trading on the New York Stock Exchange on Tuesday, Nov. 1.
- S. Steel officials participating in the call will be Mario Longhi, President and CEO; David B. Burritt, Executive Vice President and CFO; and Dan Lesnak, General Manager-Shareholder Relations.
The company’s slide presentation and prepared remarks will be posted to the U. S. Steel website following the close of trading on the New York Stock Exchange on Tuesday, Nov. 1. The slides and remarks will not be repeated on the conference call with securities analysts. The conference call will begin with introductory comments from Mario Longhi, and proceed directly to a question and answer session with the securities analysts.
Valeant Pharmaceuticals Intl Inc (NYSE: VRX), lost -2.59% and closed at $22.18 in the last trading session. The last trading range of the stock ranges between $22.12 and $23.08. The company’s Market capitalization is $7.37 Billion with the total Outstanding Shares of 341.19 million. During the 52-week trading session the minimum price at which share price traded, registered at $18.55 and reached to max level of $179.83. Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) recently declared that the company’s Patient Access and Pricing Committee (the “Committee”) has made decisions regarding price changes of products in the company’s neurology, GI and urology portfolios.
These planned wholesale acquisition price changes, effective October 14th, range from 2.0% to 9.0%. The changes are aligned with the Committee’s commitment that the average annual price increase for Valeant’s prescription pharmaceutical products will be set at no greater than single digits and below the 5-year weighted average of the increases within the branded biopharmaceutical industry.
The company’s 2016 pricing actions across its U.S. branded Rx portfolio, represent a boost of less than 2.0% within the calendar 2016 year. On a forward looking annualized basis, 2016 price actions are in line with 2016 Consumer Price Index of 2.3%.
In 2016, net pricing of Valeant’s Dermatology and Ophthalmology products, after taking into account the impact of rebates and other adjustments, will have reduced by greater than 10% on average. There will be no pricing adjustments this year on Dermatology and Ophthalmology products.