Citigroup (NYSE:C): Current price $48.36
Citigroup congratulates its corporate client Xerox Corp., for winning the prestigious Adam Smith Award for best Foreign Exchange Solution from Treasury Today. The award was presented to Xerox on Thursday at a special luncheon for winners at the Plaisterers’ Hall in London. These awards commemorate best practice and innovation by corporate treasuries, and have now reached their sixth year. In 2013, there were a record number of 214 nominations from 25 countries, and Xerox won its award for its dynamic layered hedging solution which was structured by Citigroup Foreign Exchange and Local Markets Group.
Pfizer (NYSE:PFE): Current price $28.66
Pfizer will offer shareholders a 5 percent premium when they exchange their stock for shares of Zoetis, as the former spins off its remaining interest in the animal health company. The value of the premium comes to as much as $600 million, when compared with the sum Pfizer could obtain for its own shares at Wednesday’s close at $29.10. The company said that investors will get 0.9898 shares of Zoetis for each Pfizer share they exchange, and have until Friday to elect whether to participate. This process will finalize the current phase of Chief Executive Ian Read’s plan to rid the firm of non-drug businesses and concentrate Pfizer on developing and selling new, brand-name therapies.
Sprint Nextel Corporation (NYSE:S): Current price $7.02
Sprint has clinched the Telematics Update Industry Newcomer Award for its Sprint Velocity solution, which is said to be a pioneering capability that aids automakers globally in developing and marketing connected services for cars and passenger trucks. The 2013 Telematics Update Awards were presented during a dinner event before the Telematics Detroit Conference held June 5-6 in Novi, Michigan. The Conference is attended by over 1,800 executives, and is a business-focused conference and exhibition which serves the entire telematics ecosystem.