AES Corp (NYSE:AES) (BusinessWire)
ARLINGTON, Va.–(BUSINESS WIRE)–The AES Corporation (NYSE:AES) announced today that Mr. Jeffrey Ubben, Founder and Chief Executive Officer of ValueAct Capital, has been appointed to AES’ Board of Directors, effective immediately. This appointment is a continuation of the Company’s efforts to create shareholder value. “We are delighted to welcome Jeff to AES’ Board. Jeff’s exceptional investment management track record and extensive public market experience will further enhance our expertise and strength,” said Charles Rossotti, AES Chairman. “We remain committed to enhancing shareholder returns and we believe that Jeff will make a significant contribution to that end in an increasingly dynamic global energy market that is demanding innovative solutions.”
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Wyndham Worldwide Corporation (NYSE:WYN) (The Motley Fool)
Wyndham Worldwide Corp. WYN, +5.39% said Thursday it will pay $1.95 billion in cash to buy La Quinta Holdings Inc.’s LQ, +3.32% hotel franchise and management businesses. Under terms of the deal, La Quinta shareholders will receive $8.40 a share in cash, a total of about $1 billion, Wyndham will repay about $715 million in La Quinta debt and Wyndham will set aside $240 million in reserves for estimated taxes in connection with the spinoff of La Quinta’s owned real estate assets.
CBS Corporation (NYSE:CBS) (Bloomberg)
Leslie Moonves defied the odds a year ago by resisting the Redstone family’s plan to combine CBS Corp. with Viacom Inc., but now a rising tide of media consolidation is forcing the 68-year-old executive to reassess his options. Shari Redstone, vice chairman of CBS, is pushing for Moonves, CEO of the broadcaster, to once again consider a merger with Viacom to combine the two companies her family controls. Moonves is open to exploring a Viacom deal, according to people familiar with the matter, but he has also talked to a range of potential suitors to identify alternatives. CBS shares surged to a four-month high on Bloomberg’s report.
Spi Energy Co Ltd (ADR) (NASDAQ:SPI) (Benzinga)
Spi Energy Co Ltd (ADR) (NASDAQ:SPI) rose 58.6 percent to $1.380 in pre-market trading after the company disclosed a strategic partnership with Hoofoo Inc., the hack-proof cryptocurrency hardware wallet.
Blue Apron Holdings Inc (NYSE:APRN) (The Motley Fool)
What happened: Shares of Blue Apron Holding Inc (NYSE:APRN) were surging today after JPMorgan Chase disclosed that it had increased its stake in the struggling meal-kit provider. In a filing, the big bank revealed that it now owns 13.8% of Blue Apron stock, up from 11.2% in July. As of 12:24 p.m. EST, shares were up 2.8%.
M&T Bank Corporation (NYSE:MTB) (CNBC)
M&T Bank – The bank announced it would raise wages for employees as a result of tax reform. The bank said it was making the move in anticipation of an improvement in profits stemming from the new tax law.
Diffusion Pharmaceuticals Inc (NASDAQ:DFFN) (Benzinga)
Diffusion Pharmaceuticals Inc (NASDAQ:DFFN) fell 37 percent to $0.70 in pre-market trading after the company reported a $12 million underwritten public offering.
Alcoa Corp (NYSE:AA) (CNBC)
Alcoa reported adjusted quarterly profit of $1.04 per share, missing estimates by 18 cents a share. The aluminum producer also saw revenue fall short of forecasts. Alcoa said a drought in Brazil was among the factors negatively impacting its bottom line.
Netflix, Inc. (NASDAQ:NFLX) (TheStreet)
Netflix, Inc. (NASDAQ:NFLX) is off its highs Thursday, but shares are still up 1.1% after a slew of positive analyst commentary. At $220.19, it is up 14.52% for the year. Analysts at Loop Capital bumped their price target to $252 from $241, saying “it’s not too late for large-cap growth investors to establish positions.” Analysts at Buckingham upped their price target to a similar $251 from $235, while maintaining a buy rating on Netflix stock. But the one analyst TheStreet’s Jim Cramer was focusing on during CNBC’s “Mad Dash” segment? Morgan Stanley’s Benjamin Swinburne.
