BAE Systems PLC (ADR) (OTCMKTS:BAESY) has received a multi-ship, multi-option (MSMO) contract from the U.S. Navy to repair, maintain, and modernize nine destroyers and cruisers, either homeported in or visiting Pearl Harbor, Hawaii, the Company said in a press release. The five-year contract, awarded by the Naval Sea Systems Command, includes modernization, maintenance, and repair work for the USS Chafee, USS John Paul Jones, USS Chung-Hoon, USS Hopper, USS Michael Murphy, USS O’Kane, USS Halsey, USS Milius, and USS Preble. This award marks a continuation of work BAE Systems has been performing on the same type of ships in Hawaii under a previous seven-year contract. BAE Systems PLC (ADR) (OTCMKTS:BAESY) shares after opening at $27.10 moved to $27.31 on last trade day and at the end of the day closed at $27.17.
The Procter & Gamble Company (NYSE:PG) Insider David S. Taylor sold 15,000 shares of The Procter & Gamble Company stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $81.44, for a total transaction of $1,221,600.00. Following the completion of the sale, the insider now directly owns 46,305 shares of the company’s stock, valued at approximately $3,771,079. The Procter & Gamble Company (NYSE:PG) shares advanced 1.88% in last trading session and ended the day on $198.80. PG return on equity ratio is recorded as 15.80% and its return on assets is 7.80%. The Procter & Gamble Company (NYSE:PG) yearly performance is 10.93%.
Bank of America Corp (NYSE:BAC) said it made an “incorrect adjustment” on investments acquired along with Merrill Lynch five years ago. The result: The Federal Reserve told the bank to suspend plans to buy back shares and raise its dividend.Investors aren’t happy. The stock slid as much as 6% as Bank of America had wanted to buy back $4 billion in stock and increase the dividend to 5 cents a share from 1 cent. Bank of America Corp (NYSE:BAC) shares moved down -6.27% in last trading session and was closed at $14.95, while trading in range of $ 14.86 – 15.41. Bank of America Corp (NYSE:BAC) year to date (YTD) performance is -3.92%.
The notable media house, CBS Corporation (NYSE:CBS) has received a positive tax ruling from IRS or Internal Revenue Service. CBS has itself declared that IRS has issued ‘favorable tax ruling’ to the media giant in a confidential letter. It concerns the conversion of a subsidiary of CBS, namely CBS Outdoor Americas Inc (NYSE:CBSO) to real estate investment trust or REIT. Tax is levied on the latter at the shareholder level. It has been observed that the stocks of CBS Outdoor increased more than that of CBS Corp in the last week. CBS Outdoor Americas Inc (NYSE:CBSO) weekly performance is -2.95%. On last trading day company shares ended up $29.57. CBS Outdoor Americas Inc (NYSE:CBSO) distance from 50-day simple moving average (SMA50) is -0.78%.