Energy Financial Services, the General ElectricCompany (NYSE:GE) energy investing business has announced its plans to acquire a majority stake in a solar power plant being built in Setouchi, Japan. GE is expected to contribute around 10-20 billion yen to the project which would be operated by KuniUmi Asset management. GE currently has equity stake in production of 900000 KW of power from solar energy, with plants spread across the United States and Europe. The Setouchi solar power plant marks GE’s entry into one of the fastest growing markets for solar energy.The move is expected to open the Japanese solar market to GE, which is currently dominated by domestic players. General Electric Company (NYSE:GE) shares after opening at $25.83 moved to $25.99 on last trade day and at the end of the day closed at $25.87. Company price to sales ratio in past twelve months was calculated as 1.78 and price to cash ratio as 2.93. General Electric Company (NYSE:GE) showed a positive weekly performance of 0.66%.
Mexico Based cement manufacturing giant, Cemex SAB de CV (ADR) (NYSE:CX), has announced the pricing of €400 million of its 5% senior secure notes that will be due in 2021 as well as $1 billion of 6% of its senior secured notes that will be due in 2024. Cemex SAB de CV (ADR) (NYSE:CX) shares advanced 0.48% in last trading session and ended the day on $12.69. CX return on equity ratio is recorded as -10.40% and its return on assets is -3.00%. Cemex SAB de CV (ADR) (NYSE:CX) yearly performance is 8.00%.
PulteGroup, Inc. (NYSE:PHM): The bearish comments from Barclays caught up with homebuilder PulteGroup during trading Tuesday. Shares of the company tumbled 0.21 percent to perch at $18.80, after Barclays raised issues with the valuation of the stock. Equity researcher at Barclays downgraded the stock to underweight, down from its previous equal weight-position. And they did not stop there. They slashed their price target in the stock to $20, down from $21. Among other things, the analysts observed that the stock of PulteGroup, Inc. (NYSE:PHM) is overvalued and that shares are highly price to recommend for acquisition at this time.PulteGroup, Inc. (NYSE:PHM) shares moved up 2.29% in last trading session and was closed at $19.63, while trading in range of $19.10-$19.69. PulteGroup, Inc. (NYSE:PHM) year to date performance is -3.40%.
The KB Home (NYSE:KBH) on Mar. 20 announced that it has agreed to sell an aggregate of 6,944,445 shares of its common stock at a public offering price of $18.00 per share (or up to 7,986,111 shares if the underwriters’ option to purchase additional shares is exercised in full) and $400.0 million in aggregate principal amount of its senior notes due 2019 in its previously announced concurrent underwritten public offerings. The size of the senior notes offering was increased to $400.0 million from the previously announced $300.0 million. The senior notes will bear interest at a rate of 4.75% per annum and will be issued at a public offering price of 100.0%. The senior notes will be guaranteed on an unsecured senior basis by certain of KB Home’s subsidiaries that have guaranteed KB Home’s outstanding senior notes. KB Home (NYSE:KBH) weekly performance is %. On last trading day company shares ended up $17.57. KB Home (NYSE:KBH) distance from 50-day simple moving average is -4.59%. Analysts mean target price for the company is $19.34.
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