i work from 3 until like 1130 its not too bad
i work from 3 until like 1130 its not too bad
BMW blowing it up!!!
BMW, the world’s biggest maker of luxury vehicles, posted second-quarter net income of 119 million euros ($171 million) compared with a median estimate of a loss of 112 million euros in a Bloomberg News survey of seven analysts.
‘Good Result’
“That’s a good clean result in a tough environment,” said Mike Tyndall, an analyst with Nomura Securities in London. “BMW is reaping the benefits from cutting production early and reducing costs.”
“Highly volatile” car markets make an earnings forecast for 2009 impossible, Munich-based BMW said. The company said it still forecasts a drop in full-year sales, with second-half deliveries “expected to stop the downwards trend” of the first six months.
And we're off!
Going to see some profit taking and a dip today on income news..
Dow
9,268.80 -17.76 (-0.19%)
S&P 500
1,000.63 -2.00 (-0.20%)
Nasdaq
1,997.12 -11.49 (-0.57%)
Morning peoples!
uhh.. that doesn't make sense.. but then again.. what DOES these days??
# Consumer spending rises in June, incomes fall Reuters - 57 minutes ago - Related articles »
Ant you feel the need to post pics today?
Pepsi Reaches $7.8 Billion Agreement to Buy Bottlers (Update1)
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By Zachary Mider and Doron Levin
Aug. 4 (Bloomberg) -- PepsiCo Inc., the world’s second- largest soda maker, agreed to buy the rest of Pepsi Bottling Group Inc. and PepsiAmericas Inc. for about $7.8 billion.
PepsiCo will pay $36.50 a share for Pepsi Bottling and $28.50 a share for PepsiAmericas, half in cash and half in stock, based on the July 31 closing price of PepsiCo, the companies said today in a statement. PepsiCo offered about $6 billion in April for its two biggest bottlers, a bid they both rejected.
The takeovers would give Purchase, New York-based PepsiCo control of about 80 percent of its North American beverage market, enabling Chief Executive Officer Indra Nooyi to cut hundreds of millions of dollars in annual costs and simplify negotiations with retailers such as Wal-Mart Stores Inc.
Pepsi Bottling jumped $2.23 to $35.85 in early New York trading. PepsiAmericas added $1.80 to $27.95 and PepsiCo climbed $1.05 to $57.25. Pepsi Bottling has climbed 33 percent on the New York Stock Exchange since April 17, the last trading day before PepsiCo announced its initial offer. PepsiAmericas has risen 32 percent and PepsiCo 7.8 percent.
PepsiCo already owns about 33 percent of Somers, New York- based Pepsi Bottling and about 43 percent of Minneapolis-based PepsiAmericas.
The parties had sparred over how much the maker of Pepsi- Cola could expect to save. Pepsi Bottling said in June that the transactions could bring as much as $850 million in annual savings, compared with PepsiCo’s estimate of at least $200 million.
$300 Million
“This transaction is expected to create annual pre-tax synergies of $300 million by 2012 largely due to greater cost efficiency and also improved revenue opportunities,” today’s statement said. The combination would add 15 cents to earnings by the time all savings are realized, the companies said. The deal should be complete late this year or early in 2010.
PepsiCo and bigger rival Coca-Cola Co. sell beverage concentrate and syrup to licensed bottlers, which add water and other ingredients, put the mixture in bottles and cans, and sell it. In 1999, PepsiCo followed Coca-Cola’s lead by spinning off its capital-intensive bottling operations to create Pepsi Bottling.
PepsiCo got advice on the transaction from Centerview Partners, Bank of America Corp. and Davis Polk & Wardwell. Pepsi Bottling was advised by Morgan Stanley, Perella Weinberg Partners and Cravath, Swaine & Moore LLP. PepsiAmericas used Goldman Sachs Group Inc., Briggs & Morgan P.A. and Sullivan & Cromwell LLP.
what up peoples
whats going on all?
not much, just getting in my morning yawn....LOLQuote:
Originally Posted by oneSLOWex
shit....just hangin out mane....like always....trying not to work too much but you know lol