11:55 AM New York City, New York – Apple is in talk with Riyadh for strategic investments in the region. Brigade Capital opposed Humana to deal with Kindred Healthcare. GE increases stake in Sweden-based Arcam Aktiebolag. J.B. Hunt declined despite beating fourth-quarter estimate.
Tollbooth Index increased 22.46 or 0.2% to 13,823.22.
) gained 85 cents to $171.45 after Reuter said mobile and media devices maker is in licensing discussions with Riyadh on investing in Saudi Arabia with SAGIA, Saudi Arabia’s foreign investment authority.
Brigade Capital Management, LP
, privately held hedge fund operator announced that it is opposed to the acquisition of Kindred Healthcare by affiliates of TPG Capital, Welsh, Carson, Anderson & Stowe and Humana and added the offer price is “grossly inadequate price of $9 per share.”
Brigade said it owns 5.8% stake in the company, the fifth largest shareholder in Kindred.
Humana, TPG Capital and Welsh, Carson, Anderson & Stowe agreed to acquire home healthcare operator Kindred on December 19 for about or $9 per share in cash or $810 million.
General Electric Company
) slid 7 cents to $17.31 after the industrial conglomerate’s wholly owned subsidiary GE Sweden Holdings AB, is increasing its stake to 95% from 77% in Sweden-based Arcam Aktiebolag Publ for 345 Swedish kronor per share.
J.B. Hunt Transport Services, Inc
) dropped 2% or $2.31 to $113.17 after the surface transportation services provider lowered fourth quarter 2017 net income forecast to the range of $85 million to $90 million and diluted earnings per share between 77 cents and 82 cents from the earlier estimate of net income of $117.6 million and diluted earnings per share of $1.05.
However, the transportation services provider lifted revenue growth in the fourth-quarter to between 10% and 16% or in the range of $1.9 billion to $2 billion from $1.72 billion in the same period a year ago.