On May 13, 2014, Many global investors are welcoming recommendations contained in the M.S. Sahoo Committee report, announced by India’s Ministry of Finance. The report recommends allowing over-the-counter (OTC) non-capital-raising American depositary receipt (ADR) programmes on any kind of securities, not only equity. Neil Atkinson, Asia-Pacific head of depositary receipts at The Bank of New York Mellon Corporation (NYSE:BK), discusses the case for DRs and why he believes this is positive news both for India and those investing in Indian securities. The Bank of New York Mellon Corporation (NYSE:BK) net profit margin is 79.30%and weekly performance is -0.21%. On last trading day company shares ended up $34.03. Analysts mean target price for the company is $35.53. The Bank of New York Mellon Corporation (NYSE:BK) distance from 50-day simple moving average (SMA50) is 0.16%.
The Blackstone Group L.P. (NYSE:BX) is rolling the dice on Las Vegas. The world’s largest private-equity firm on Thursday agreed to pay $1.7 billion in cash to Deutsche Bank AG for the Cosmopolitan of Las Vegas, a 3,000-room hotel and casino on the Strip that ran into big financial trouble during the downturn. The Blackstone Group L.P. (NYSE:BX) shares advanced 0.45% in last trading session and ended the day on $29.20. BX Gross Margin is 79.50% and its return on assets is 4.50%. The Blackstone Group L.P. (NYSE:BX) quarterly performance is -5.38%.
KKR & Co. L.P. (NYSE:KKR) files to sell 5M common units representing limited partners. KKR & Co. L.P. (NYSE:KKR) net profit margin is 77.40% and weekly performance is 0.36%. On last trading day company shares ended up $22.42. Analysts mean target price for the company is $28.50. KKR & Co. L.P. (NYSE:KKR) distance from 50-day simple moving average (SMA50) is -1.33%.
On May 13, Fortress Investment Group LLC (NYSE:FIG) is considering making a $4.7 billion bid for Stuyvesant Town-Peter Cooper Village, a Manhattan apartment complex, Bloomberg reported, citing a person familiar with the matter. Fortress Investment Group LLC (NYSE:FIG) shares moved down -0.59% in last trading session and was closed at $6.77, while trading in range of $6.65 – $6.83. Fortress Investment Group LLC (NYSE:FIG) year to date (YTD) performance is -19.21%.
Franklin Universal Trust (NYSE:FT), a closed-end investment company managed by Franklin Advisers, Inc., announced a dividend of $0.0395 per share, payable June 13, 2014, to shareholders of record on May 30, 2014 (Ex-Dividend Date: May 28, 2014). Franklin Resources, Inc. (NYSE:BEN) ended the last trading day at $54.33. Company weekly volatility is calculated as 1.75% and price to cash ratio as 6.62. Franklin Resources, Inc. (NYSE:BEN) showed a negative weekly performance of -0.86%.
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