On Thursday, Shares of PPL Corp (NYSE:PPL), added 1.48% and closed at $33.00 in the last trading session. The last trading range of the stock ranges between $32.37 and $33.40. 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.
ON Semiconductor Corp (NASDAQ:ON), dropped -0.69% and closed at $11.57 in the last trading session. The last trading range of the stock ranges between $11.24 and $11.66. The company’s Market capitalization is $4.75 Billion with the total outstanding Shares of 415.55 million. ON Semiconductor Corporation (Nasdaq: ON) (“ON Semiconductor”) declared recently that ON Semiconductor has successfully closed the refinancing of its secured debt facilities. The refinancing transaction amended ON Semiconductor’s secured debt facilities documentation in order to, among other things, (i) replace and refinance in full its senior secured term loans with a new tranche of refinancing term loans with a 1.25% reduction in the applicable margin, (ii) increase the size of its senior secured term loan facility by $200 million to a total aggregate amount of $2.4 billion, (iii) reduce the applicable margin with respect to the revolving credit facility by 1.25% and (iv) amend certain provisions to permit the entry by ON Semiconductor’s auxiliaries into secured hedging arrangements with qualified institutions and to facilitate certain restructuring transactions and intercompany intellectual property transfers intended to achieve the efficient integration of ON Semiconductor, its auxiliaries and its attained entities (collectively, the “Transactions”).
“This refinancing further facilitates us to generate higher shareholder value from our recently closed acquisition of Fairchild Semiconductor,” said Bernard Gutmann, Executive Vice President and Chief Financial Officer of ON Semiconductor. “A lower cost of debt not only accelerates our progress towards our financial targets for the acquisition of Fairchild Semiconductor, but also facilitates faster deleveraging of our balance sheet.”
Voya Financial Inc (NYSE:VOYA), dropped -3.01% and closed at $29.98 in the last trading session. The last trading range of the stock ranges between $29.45 and $30.48. During the 52-week trading session the minimum price at which share price traded, registered at $22.75 and reached to max level of $42.45. S&P Global (SPGI) recently declared that Ewout Steenbergen has been designated Executive Vice President and Chief Financial Officer, effective November 14. Mr. Steenbergen will be responsible for all aspects of the Finance department, focused on growth and sustainable shareholder value.
“Ewout is an excellent addition to our senior administration team,” said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. “He brings outstanding leadership, a global perspective and deep experience in financial services that will be very valuable to the Company. I want to take this opportunity to thank Rob MacKay, who has served as Interim Chief Financial Officer since August. Rob is a consummate professional who ensured that the finance organization was able to execute on its objectives and planned priorities throughout this period.”