Volvo Suspends Production and 3 Morning Hot Stocks Turning Heads
ConAgra (NYSE:CAG) files an 8-K to confirm its previous guidance of EPS of $2.03-$2.06 for the full fiscal year 2013 and operating cash flow for that year to be in excess of $1.2 billion.
Volvo (VOLVY.PK), owned by Chinese company Geely Holding Group, has announced a temporary suspension of production at a Swedish plant as demand for autos continues to struggle in Europe, which is facing a recession.
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RBS (NYSE:RBS) chief Sir Philip Hampton hints the bank may be allowed to keep the 318 branches that were the subject of a deal with Santander that failed last week. RBS was to sell these branches as a condition for its 45 billion pound bail-out by tax-payers in 2008. However, Richard Branson’s Virgin Money and P-E firm JC Flowers are reportedly still in the running to acquire these branches as they seek to expand their existing, though comparatively small banking operations in the UK.
ING (NYSE:ING) says it is trying to repay to the Dutch government 4.5 billion euros of state aid that it received after the financial crisis. “We are keen to pay the Dutch state as soon as possible,” William Connelly, CEO of ING’s commercial banking unit said. “We are building up our capital to be able to do so. It is part of the very active discussion taking place between ING, the Dutch state and the Brussels’ (European) commission,” according to Reuters.
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