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Lorillard Inc. (NYSE:LO), the third largest cigarette manufacturer in the United States, announced today that it has priced an underwritten public offering of an aggregate principal amount of $500 million 2.300 percent senior notes due 2017 via its main operating subsidiary, Lorillard Tobacco Company, and guaranteed by Lorillard, Inc. The company expects to close the sale of the notes on August 21, 2012, subject to customary closing conditions. The net proceeds raised from the offering are to be used for general corporate purposes, which could include the repurchase, redemption, or retirement of securities including its common stock, acquisitions, additions to working capital and capital expenditures. Shares of Lorillard Inc. are trading 1% lower today.
Don’t Miss: Liberty Media RAISES Its Stake in Sirius XM.
Netflix (NASDAQ:NFLX) has signed up 1 million members in the U.K. and Ireland after its long-awaited launch in January, which is part of a drive to offset the slowing U.S. market growth, the video-streaming company stated on Monday.
Sirius XM Radio Inc (NASDAQ:SIRI): On Friday, Liberty Media revealed, following the close, that it had acquired more shares of Sirius XM on the open market, and there was a new twist. Liberty Media has taken back its previous FCC filing for “de facto’ control and has replaced it with a new filing which is requesting “de jure” control. Shares of Sirius XM Radio Inc are trading 0.78% higher today.
Marvell Technology Group Ltd. (NASDAQ:MRVL) posted a Q2 earnings per share of $0.19, which misses the Zacks Consensus Estimate of $0.22. Shares of Marvell Technology Group Ltd. are trading 0.71% lower today.
Lowe’s (NYSE:LOW) posted a 10 percent drop in its Q2 net income, which was harmed by a timing shift and a charge related to job cuts. The company’s performance missed Wall Street’s expectations.
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