AT&T Wins 2 US Postal Service Contracts and 2 Other Dow Movers to Watch
AT&T Inc. (NYSE:T): Current price $35.69
The U.S. Postal Service awarded two contracts to AT&T’s Federal Government unit. One is valued at over $50 million and covers the improvement of data network connectivity to USPS retail and support locations throughout the country and its territories. The second contract, with a value estimated at about $3.5 million, will have AT&T provide Managed Trusted Internet Protocol Service to USPS headquarters in Washington and two major data centers, one in California and the other in Minnesota.
Johnson & Johnson (NYSE:JNJ): Current price $93.75
Johnson & Johnson said it was pleased to put a legal dispute behind it subsequent to a Chinese court ordering it to pay compensation to a former distributor under an antimonopoly statute. Thursday’s decision said Johnson & Johnson was guilty of “vertical monopoly” for setting minimum prices that its distributors charged for surgical sutures. The company said it has ceased that practice but was ordered to pay $85,000 to a Chinese distributor that said it lost potential sales because of the restriction.
General Electric Co. (NYSE:GE): Current price $24.52
GE Capital’s Franchise Finance division on Monday said it provided financing to an affiliate of Roark Capital Group for its purchase of Miller’s Ale House, a 65-unit dining chain based in Jupiter, Florida, that makes around $300 million in sales. GE Capital served as administrative agent, with GE Capital Markets as joint lead arranger and joint book runner. Roark Capital is a private equity firm based in Atlanta with more than $3 billion in equity capital under management.
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