Ingersoll-Rand Plans a Spin-Off and 2 Hot Stocks Starting the Week
“An all-star lineup of digital and on-air experiences.” That’s how Yahoo (NASDAQ:YHOO) and NBC Sports Group describe their new tie up that will combine Yahoo’s sports original reporting expertise, major event coverage, Rivals college content and other sports products with NBC’s digital prowess, TV promotion and integration.
Ingersoll-Rand plc (NYSE:IR) plans to spin off its commercial and residential security businesses into a new stand-alone global company. Industrial, transport refrigeration, and heating, ventilation and air conditioning businesses will continue as a part of Ingersoll-Rand. The spin-off is intended to be tax free in the hands of the shareholders and should be completed in about a year’s time. The new security business company is expected to have an annual revenue of about $2 billion while the remaining businesses under Ingersoll-Rand would generate annualised revenue of about $12 billion.
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Barnes and Noble (NYSE:BKS) has reduced the price of its Nook Simple Touch e-reader to $79.00 from $99.00 due to competing products from Amazon (NASDAQ:AMZN), Sony (NYSE:SNE) and other manufacturers. The Nook Simple Touch is a basic black and white, unlit e-reader.