On Tuesday, Shares of Coty Inc (NYSE:COTY), added 0.17% and closed at $23.43 in the last trading session. COTY stock opened its last trade at $23.64 and after floating in a range of $23.07 to $23.64. The company’s Market capitalization is $17.52 Billion with the total Outstanding Shares of 74.01 million. During the 52-week trading session the minimum price at which share price traded, registered at $21.48 and reached to max level of $31.60. The Earnings per Share of the company stands at $0.42. Coty Inc. (COTY) declared recently that it has reached a definitive agreement to acquire ghd a premium brand in high-end hairstyling appliances from Lion Capital LLP for about ₤420 million (ca.USD$510 million) in cash. The transaction will be funded with a combination of cash on hand and available debt facilities. Upon closing, the acquisition is expected to be right away accretive to Coty’s earnings.
The addition of ghd’s market-leading and high-performance lines of hair straighteners, hairdryers, curlers and other hairstyling appliances is expected to further strengthen Coty’s worldwide leading position in the professional hair category. ghd products represent the top of the range in its category, attracting strong loyalty with both professionals and consumers. ghd’s products are known for unsurpassed quality, beautiful design and excellent performance, and will facilitate Coty to offer salon partners and their clients an improved and more premium range of hair solutions. Coty also aims to accelerate ghd’s strong track record of growth through its channel and category capabilities combined with ghd’s strong innovation pipeline, superior technology and robust technical expertise.
ghd, which stands for “Good Hair Day,” generated ₤178 million in revenues in fiscal year 2016. ghd is headquartered in London and has commercial operations in the United Kingdom, Australia, the United States, Germany, France, Spain, Italy and several other markets. The company has been expanding from its core salon channel into premium retail and e-commerce. ghd will become part of the Coty Professional Beauty division, where it will be managed as a standalone business led by its current CEO Anthony Davey and administration team. Anthony Davey will report to Sylvie Moreau, President of Coty Professional Beauty.
Shares of STMicroelectronics NV (ADR)(NYSE:STM), gained 1.85% and closed at $8.26 in the last trading session. STM stock opened its last trade at $8.19 and after floating in a range of $8.13 to $8.32. The company’s Market capitalization is $7.58 Billion with the total Outstanding Shares of 883.31 million. During the 52-week trading session the minimum price at which share price traded, registered at $5.11 and reached to max level of $8.41. The Earnings per Share of the company stands at $0.08. STMicroelectronics (STM.PA), a global semiconductor leader serving customers across the spectrum of electronics applications, recently declared that its LSM6DSM 6-axis Inertial Measurement Unit (IMU) has earned certification for use in next-generation mobile devices running Google Daydream, a high-performance virtual-reality platform, and Tango, a platform that maps 3D space and facilitates it to be overlaid with virtual objects.
Declared at the Google I/O Developer Conference 2016, Daydream is being built into the newest generation of smartphones and other mobile devices and will operate together with a controller and a viewer to provide an amazing immersive virtual reality experience for exploring new worlds, enjoying entertainment with your own personal cinema and gaming.
Well suited to Daydream, Tango, and other mobile applications, ST’s 6-axis IMU, which integrates a 3-axis gyroscope and a 3-axis accelerometer, facilitates “always-on” sensing that maximizes battery life to stay on. The IMU’s efficient power-administration techniques include an improved gyroscope design, energy-efficient data batching, and ST’s ultra-low-power process technology.