Yahoo! and CBS Strike Broadcasting Deal and 3 Stocks Climbing to 52-Week Highs
Virgin Media’s (NASDAQ:VMED) cash capital expenditure is expected to stay within the current guidance of between 15 and 17 percent of revenue for this and future years, excluding the incremental £110 million investment in 2012 on the firm’s broadband speed upgrade that was reported in January. Further, it is anticipated that the cost of fixed assets purchased under leases will continue to not exceed 2 to 3 percent of revenue yearly, in line with recent years, and all other strategic growth opportunities will be held within this guidance. Shares closed up 3.83 percent on the day at $34.13, having been traded in a 52-week range of $20.52 to $33.23.
Walker & Dunlop (NYSE:WD) said recently that it provided $70.208 million in Fannie Mae financing to Reinhold Residential, in return for a portfolio of historic properties that were converted to Class A multifamily residential buildings. This portfolio is comprised of seven garden-style properties having more than 628 units located in Philadelphia, Pittsburgh and West Chester. Every one of the choice refinance transactions were structured solely with 10-year terms with 5-years interest, followed by 25- or 30-year amortization periods. This product features an Early Rate Lock option for use with Multiple Asset Transactions that allows borrowers to lock in both attractive interest rates and competitive financing terms. Through the use of this program, Walker & Dunlop could structure the transactions to permit the borrower to use funds from closing to make capital upgrades for the properties during the next five years. Shares closed down 3.88 percent on the day at $16.86, and have traded in a 52-week range of $10.85 to $17.60.
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Whirlpool Corporation’s (NYSE:WHR) guidance includes $110 million to be used for antitrust payments, a $275 million final installment through which to resolve the Brazilian collection dispute, pension contributions of as much as $200 million and restructuring cash amounts of up to $250 million. The company said that “We are increasing our full-year ongoing business operations earnings per share and free cash flow outlook based on our year-to-date performance and strong momentum we see in the business today. Our margin expansion efforts are working and consumers continue to show preference for our brands and innovative product offerings around the world. We are executing against our long-term growth strategy, investing in areas key to our future success and are well positioned for global industry demand recovery.” Shares closed up 8.69 percent on the day at $93.81, but were traded in a 52-week range of $45.22 to $88.91.
Yahoo! (NASDAQ:YHOO) and CBS Television Distribution (NYSE:CBS) have reported an agreement that unites the broadcasting power of The Insider with the online scope of Yahoo!. Through the terms, CTD’s syndicated entertainment newsmagazine The Insider’s name will be changed to omg! in January of next year in order to form a multiplatform entertainment news series. Shares closed up 5.71 percent on the day at $16.67, and have traded in a 52-week range of $14.35 to $16.70.
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