Editor’s Note: Related tickers: Northrop Grumman Corporation (NYSE:NOC), Verizon Communications Inc. (NYSE:VZ), Credit Suisse Group AG (NYSE:CS), Rio Tinto plc (NYSE:RIO), Rexam PLC (LON:REX), Dixons Retail PLC (LON:DXNS), Prudential plc (LON:PRU), Vodafone Group plc (LON:VOD), Rolls-Royce Holding PLC (LON:RR), Burberry Group plc (LON:BRBY), SSE PLC (LON:SSE)
Dutch aluminum products maker Constellium shares fall in debut (Reuters)
Constellium NV, a Dutch aluminum products maker part-owned by miner Rio Tinto plc (NYSE:RIO) , fell as much as 12 percent below its initial public offer price in a market debut that failed to capture investor appetite. The stock regained some losses and was down 2.7 percent at $14.60 in heavy trading on Thursday afternoon. At that price, Constellium had a market valuation of $1.47 billion. …Other customers include Rexam PLC (LON:REX), Ball Corp, Crown Holdings, BMW AG and Mercedes-Benz. Constellium, previously known as Omega Holdco BV, operates 26 production facilities in the United States, Europe and China and has about 8,845 employees.
Rexam Stock Rating Reaffirmed by Credit Suisse (REX) (Zolmax)
Credit Suisse Group AG (NYSE:CS) reiterated their neutral rating on shares of Rexam PLC (LON:REX) in a research report sent to investors on Monday morning, StocKRatingsNetwork.com reports. The firm currently has a GBX 555 ($8.53) price target on the stock. REX has been the subject of a number of other recent research reports. Analysts at S&P Equity Research reiterated a hold rating on shares of Rexam PLC (LON:REX) in a research note to investors on Friday, April 19th. They now have a GBX 540 ($8.30) price target on the stock. Separately, analysts at Citigroup reiterated a buy rating on shares of Rexam PLC (LON:REX) in a research note to investors on Friday, April 19th. They now have a GBX 570 ($8.76) price target on the stock. Finally, analysts at Jefferies Group reiterated a hold rating on shares of Rexam PLC (LON:REX) in a research note to investors on Thursday, April 18th. They now have a GBX 500 ($7.69) price target on the stock.
Local Kidz Korner Wins Recycling Contest for Second Year in a Row (PRNewsWire)
For the second year in a row, Kidz Korner in Channahon, Ill., was declared a winner in the Great American Can Roundup School Challenge, a national recycling contest sponsored by the Can Manufacturing Institute (CMI). Kidz Korner recycled a total of 1,982 pounds of aluminum cans, the most of any participating school in Illinois, and earned more than $1,000 in recycling proceeds. The school won $1,000 from the CMI as well as another $1,000 from Rexam PLC (LON:REX), a leading global aluminum beverage can maker, which teamed with Kidz Korner providing recycling boxes and aligning the school with the industry contest.
Why the rest of the high street is in better shape than M&S (Telegraph)
Marks & Spencer has suffered a 14pc drop in annual profits following a sharp decline in clothing sales over the last year. The retailer has announced that it is to stop opening new clothing stores in Britain, demonstrating the challenges facing the high street. …”Next had a strong brand and good online growth, which was particularly under appreciated,” said Mr McVeigh. “Dixons Retail PLC (LON:DXNS) was another company that was written off. After rival Comet went into administration, Dixons Retail PLC (LON:DXNS) looks like being the last man standing among electronics retailers. These positions have done very well in recent years.”
Quartet join Bucks PR and social media company Nobull (Maidenhead-Advertiser)
A PR, social media and events company based in Wooburn Green has introduced four new staff after a recruitment drive. Nobull Communications, based in Stag Place, has welcomed Simon Branney and Rick Osborn to the automotive arm of the business as account director and account executive respectively. Simon has nine years consumer, trade and b2b PR experience working across numerous sectors both in-house and agency side. Prior to joining Nobull Simon was with M&C Saatchi PR where he worked on Dixons Retail PLC (LON:DXNS) and Twitter, running proactive and reactive press offices for both clients.
Prudential plc Given “Overweight” Rating at Barclays Capital (PRU) (DailyPolitical)
Prudential plc (LON:PRU)‘s stock had its “overweight” rating restated by equities researchers at Barclays Capital in a report issued on Wednesday, StocKRatingsNetwork.com reports. They currently have a GBX 1,406 ($21.61) target price on the stock. Prudential plc (LON:PRU) opened at 1192.00 on Wednesday. Prudential plc (LON:PRU) has a 1-year low of GBX 654.50 and a 1-year high of GBX 1196.00. The stock’s 50-day moving average is currently GBX 826.4. The company’s market cap is £30.387 billion.
Prudential CEO Thiam Sells a Third of Shares Worth $7.2 Million (Bloomberg)
Prudential plc (LON:PRU) Chief Executive Officer Tidjane Thiam sold a third of his shares in the U.K.’s largest insurer after a 2010 performance-based compensation plan paid out in full and the stock soared. Thiam, 50, sold 400,000 shares at 11.93 pounds apiece, realizing about 4.8 million pounds ($7.2 million) on May 22, the London-based insurer said in a statement today. Chief Financial Officer Nic Nicandrou, 47, sold 2.4 million pounds in shares and Michael McLintock, 52, CEO of fund-management arm M&G, sold stock valued at 3.6 million pounds.