Seagate, Starbucks and Yum! Achieve New Share Price Highs Jan. 31st
Seagate Technology. (NASDAQ:STX): Seagate announced on December 19, 2011 the closing of the acquisition of the hard disk drive business of Samsung Electronics Co. Related to this transaction, amortization of acquisition-related intangibles of $5M is included in the GAAP basis net income for Q2 and six months ended December 30, 2011. For Seagate’s Q3, it is expected that amortization of acquisition-related intangibles will be approximately $35M. The shares closed at $21.14, up $0.25 or 1.2% on the day. They have traded in a 52-week range of $9.05 to $21.00.
Thomas & Betts Corp. (NYSE:TNB): ABB Ltd. (NYSE:ABB) will seek additional acquisitions in the U.S. after saying it will buy Thomas & Betts (NYSE:TNB) for $3.9B, according to the Boersen-Zeitung newspaper, reports Bloomberg. The shares closed at $71.39, up $0.08 or 0.11% on the day. They have traded in a 52-week range of $37.51 to $71.36.
Starbucks Corp. (NASDAQ:SBUX): In a separate sourcing and roasting agreement between Starbucks Coffee Company and Tata Coffee Limited, Tata Coffee Limited will roast coffee to supply TATA Starbucks Limited, and to export to Starbucks Coffee Company. This agreement paves the way for consumers in India to enjoy the premium Starbucks Experience, while further discovering the unique taste of high-quality Indian arabica coffee worldwide. TATA Starbucks Limited brings together two companies with a rich heritage in and passion for coffee, tea and innovative beverages. Together, the JV will enable an expanded range of beverage offerings for Indian consumers. As an example, the companies have agreed to jointly leverage assets and innovation to offer a premium tea product branded Tata. The shares closed at $47.92, down $0.56 or 1.16% on the day. They have traded in a 52-week range of $31.17 to $48.49.
Yum! Brands (NYSE:YUM): Yum! Brands CEO, David Novak, has managed to turn millions of Chinese into ardent fans of Kentucky-style ‘finger-lickin good’ chicken, Barron’s reports. In fact, KFC is now by far the largest fast-food chain in China. Pizza Hut has also been a big hit in the Middle Kingdom. In all, Yum garnered an estimated 45% of its $12.5B in revenue from China last year and 42% of its operating profit. Novak continues to search the world for growth opportunities, and he has plenty in his sights. It starts with China, which is growing at a nearly 30% annual clip. Novak also is looking for serious sales in India. He is also ramping up in Africa, Russia and Thailand. The shares closed at $63.33, down $0.35 or 0.55% on the day. They have traded in a 52-week range of $46.76 to $63.83.
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