GE Sells Stake in Bank of Ayudhya and 4 Hot Stocks Trading Now
Microsoft (NASDAQ:MSFT) is investing an additional $250 million in its Partners in Learning Project, a program intended to provide teachers with IT and other futuristic skills. Microsoft has already invested $750 million in the project. The new investment is intended to expand the program’s global reach and increase the number of teachers covered from currently 11 million to 20 million teachers by 2018.
Signal transmission solutions provider Belden Inc (NYSE:BDC) is selling its Thermax and Raydex cable businesses, which cater to the aerospace and defence sectors, to Carlisle Companies Incorporated for an approximate consideration of $265 million. The transaction is expected to close by December 31st. Belden also announced a new share repurchase program worth $200 million. Said John Stroup, President and CEO, “We believe this transaction is in the best interest of shareholders as we further transform our portfolio.”
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Limited Brands, Inc (NYSE:LTD) reported net sales of $922 million during the four weeks ending November 24 versus $872.6 million in the previous year. Comparable store sales were up 5% overall, with Victoria’s Secret Stores showing a growth of 4% compared to 11% last year. Bath and Body Works was flat at 6% as last year. However, La Senza showed 5% growth compared to 7% contraction in the previous year.
Following its investigation into the diversion and abuse of prescription drugs, the US Drug Enforcement Administration has served three Walgreen Co (NYSE:WAG) pharmacies with show cause notices. It may be recalled that in September a Walgreens distribution center had its registration suspended by the DEA with a hearing on the matter scheduled for January 7, 2013.
General Electric (NYSE:GE) has put on the block its 25.3% stake in Thai bank Bank of Ayudhya and first round bidders include Japanese bank Mitsubishi UFJ Financial Group and possibly Malaysian lender CIMB Group Holdings. The market value of the Bank of Ayudhya, which is also Thailand’s largest retail bank, is estimated at $5.9 billion. GE is in the midst of a program to sell non-core businesses and the sale of its stake in Ayudhya is part of the restructuring process.
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