Liberty Global s (LBTYA) JV With Telefonica Gets U.K. Approval Zacks.com 4 hrs ago
Liberty Global LBTYA and Telefonica’s 50:50 joint venture to combine Virgin Media and O2 received approval from the U.K.’s Competition & Markets Authority or CMA on May 20. The transaction is now expected to be completed by Jun 1, 2021.
Liberty Global and Telefonica announced the joint venture in May, 2020. The deal valued Virgin Media at £18.7 billion (including £11.3 billion of debt) and O2 at £12.7 billion.
The deal that combines Virgin Media and O2, the U.K.’s fastest broadband network and leading mobile operator, respectively, is expected to generate £11 billion in revenues and synergies worth £6.2 billion on a net present value basis after integration costs. Moreover, OCF and OFCF are expected to be $3.70 billion and $1.57 billion, respectively.
Equinor (EQNR), Sonatrach Unite for E&P Activities in Algeria Zacks.com 4 hrs ago
Equinor ASA EQNR signed a memorandum of understanding (MoU) with Sonatrach to strengthen both parties’ cooperation in the exploration and production (E&P) of oil and gas in Algeria and worldwide.
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The MoU involves cooperation opportunities in greenhouse gas emissions, carbon management and industrial safety management. Notably, it is expected to continue strengthening the existing partnership between the firms.
Moreover, the companies will explore opportunities in implementing technologies to improve hydrocarbon recovery and the development of flexible operating models for driving oil operations at the highest level. However, no financial information regarding the deal was revealed.
PPG Industries (PPG) Wraps Up Worwag Buyout, Expands Portfolio msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Will ZIM Integrated Shipping (ZIM) Continue to Surge Higher?
As of late, it has definitely been a great time to be an investor of ZIM Integrated Shipping Services Ltd. ZIM. The stock has moved higher by 35.5% in the past month, while it is also above its 20 Day SMA too. This combination of strong price performance and favorable technical, could suggest that the stock may be on the right path.
We certainly think that this might be the case, particularly if you consider ZIM’s recent earnings estimate revision activity. From this look, the company’s future is quite favorable; as ZIM has earned itself a Zacks Rank #1 (Strong Buy), meaning that its recent run may continue for a bit longer, and that this isn’t the top for the in-focus company. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stock Market News for May 3, 2021 Zacks.com 3 hrs ago
Wall Street closed lower on Friday primarily due to profit booking by investors. Moreover, weaker-than-expected earnings results by some big companies also dented investors confidence. All the three major stock indexes ended in red. For the week as a whole, these indexes had mixed performances. However, these indexes performed impressively in April.
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How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) was down 0.5% or 185.51 points to close at 33,874.85. Notably, 21 components of the 30-stock blue-chip index ended in the red while 9 in green. The tech-heavy Nasdaq Composite finished at 13,962.68, tumbling 0.9% or 119.86 points due to weak performance by large-cap technology stocks.