Delta Expands Flight Reach and 2 Morning Hot Stocks Making Market Waves
Spectrum Brands Holdings (NYSE:SPB) seals a deal to purchase the Hardware and Home Improvement Group of Stanley Black & Decker (NYSE:SWK) for $ 1.4 billion in cash. “EPS accretion pro forma for a full year of results is expected to be between $0.75 to $0.80 per share in fiscal 2013 and EPS accretion in fiscal 2014 is expected to exceed $1.00 per share, ” says the company press release.
Delta Air Lines (NYSE:DAL) is utilising its partnership with Alaska Airlines to expand its reach across the United States and to open more flights to Asia. Delta Airlines will add a flight between Seattle and Shanghai in June 2013 and another between Seattle and Tokyo in March.
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Alfa Access Renova, the consortium that holds Russian billionaires’ stakes in TNK-BP, has notified BP (NYSE:BP) that it may sell its stake in the joint-venture to another party or through an IPO. AAR Chief Executive Stan Polovets says, “What we are concerned about is that if Rosneft buys BP’s stake outright, then we would be in a 50/50 joint venture with solely a Russian state company as the other investor.”