NOOK Media Sees Pearson Investment, Burger King Partners with Beboca: Consumer Business Recap
On Friday, Royal Caribbean Cruises (NYSE:RCL) signed a contract with STX France to build a third Oasis-class vessel for delivery in mid-2016. This order is a part of the plan reported in October to construct a sister-ship to the highly successful Oasis of the Seas and Allure of the Seas.
Barnes & Noble’s (NYSE: BKS) NOOK Media, a top retailer of content, digital media and educational products, reported Friday that Pearson (NYSE:PSO), the worlds top learning firm, will make a strategic investment in NOOK Media by agreeing to invest $89.5 million in cash at a post-money valuation of about $1.789 billion in return for preferred membership interests comprising a 5 percent equity stake. Upon the close of the deal, Barnes & Noble will own roughly 78.2 percent of the NOOK Media subsidiary and Microsoft, which also holds preferred membership interests, will own around 16.8 percent.
Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.
United Continental Holdings (NYSE:UAL) on Friday saw Sterne Agee Group reiterating its Buy rating along with its $35 price target. The analyst explained that, “Despite an overall improved airline environment, we are lowering EPS expectations for UAL related to somewhat company specific issues – larger winter storm impact than last year, and earlier than expected labor accruals for new labor contracts. We don’t see either of these issues materially affecting our 2013 expectations. Our 2013/2014 estimates change slightly on lower capacity.”
Burger King Worldwide (NYSE:BKW) enters into a multi-country master franchise joint venture agreement with its Central American franchisee, Beboca, marking a first of its kind move on the part of the former. Through the terms, the parties will set up a new entity known as BK Centro America. Beboca currently operates 48 restaurants in Panama and Costa Rica.