On Wednesday, Shares of PPL Corp (NYSE:PPL), added 0.99% and closed at $32.52 in the last trading session. The last trading range of the stock ranges between $32.35 and $32.71. The company’s Market capitalization is $21.83 Billion with the total Outstanding Shares of 678.09 million. During the 52-week trading session the minimum price at which share price traded, registered at $32.08 and reached to max level of $39.92. PPL Corporation (PPL) will conduct a conference call and webcast at 8:30 a.m. Eastern Daylight Time Wednesday, Oct. 12, to provide financial analysts an update on the company’s strategy to protect the value of its United Kingdom earnings from potential declines in British pound sterling exchange rates.
PPL has long maintained an effective hedging program to mitigate foreign currency risk. As part of that program and in response to recent exchange rate volatility, the company has executed additional hedges that will bolster its ability to deliver on long-range growth projections.
During the webcast, William H. Spence, PPL chairman, president and Chief Executive Officer, and Vincent Sorgi, senior vice president and Chief Financial Officer, will detail the company’s most recent actions, answer questions regarding PPL’s hedging strategy, and reaffirm PPL’s earnings forecasts for 2016 and 2017, in addition to its projection of 5 to 6 percent compound annual earnings growth from 2017 to 2020.
Yum! Brands, Inc. (NYSE:YUM), jumped 0.78% and closed at $88.94 in the last trading session. The last trading range of the stock ranges between $87.88 and $89.61. The company’s Market capitalization is $35.02 Billion with the total Outstanding Shares of 376.00 million. During the 52-week trading session the minimum price at which share price traded, registered at $64.58 and reached to max level of $91.99. Yum China Holdings, Inc. (“Yum China”) will outline its vision for the company as an independent business recently at Yum! Brands, Inc.’s (YUM) annual shareholder conference in New York, NY. Yum China anticipates to begin trading as an independent company starting November 1, 2016, on the New York Stock Exchange under the ticker symbol “YUMC.”
“Yum China is a powerhouse business that will be one of China’s leading publicly traded retail companies. We employ over 400,000 people and serve over 2 billion customers annually. With our unique market position and a rapidly growing middle class and urban population, we believe that we offer an unrivalled opportunity for sustained long-term growth in China,” said Micky Pant, Chief Executive Officer of Yum China. “At separation, we will be operating a highly cash-generative business, with no external debt and ample cash on hand. This will facilitate us to invest in new restaurants, digital engagement and our delivery network, providing job opportunities to thousands more people across the country and contributing to economic growth.”
CBS Corporation (NYSE:CBS), lost -0.54% and closed at $55.15 in the last trading session. The last trading range of the stock ranges between $54.90 and $55.56. During the 52-week trading session the minimum price at which share price traded, registered at $41.36 and reached to max level of $58.22. CBS Corporation (NYSE:CBS.A and CBS) recently declared that its radio business, CBS Radio Inc. (“CBS Radio”), has priced an offering of $400 million in aggregate principal amount of 7.25% senior unsecured notes due 2024. CBS also declared that CBS Radio has established pricing for a $1.06 billion senior secured term loan B facility maturing in 2023 at an interest rate of LIBOR plus 3.50%, with a LIBOR floor of 1.00%. The $1.46 billion debt financing to be effected through the issuance of the notes and the borrowing under the term loan are being made as part of CBS’s plans to separate its radio business.
The offering of the notes is expected to close on October 17, 2016, subject to customary closing conditions. The term loan is expected to be reached contemporaneously with the issuance of the notes, subject to completion of documentation and customary closing conditions.
CBS anticipates that substantially all of the net proceeds from both the notes and the term loan will be distributed to CBS. The remaining net proceeds not used for such distribution will be used by CBS Radio for general corporate purposes and ongoing cash needs.