Dividend policy for the second time this week has captured the crowd’s attention, with discussions revolving around many companies, Viacom and SAP being the most notable. To see all the discussions, stick with Sentifi.
1/ Dividend Policy: Viacom and SAP take the spotlight
Viacom has been through lots of legal trouble, and now its recently expanded board will meet to discuss the Wall Street’s opinion that it should cut dividend to cope with a weakening capital structure. In another note, SAP announced it is not the first multinational technology company to receive the worldwide Economic Dividends for Gender Equality certificate. It shows the company’s commitment to sustain gender diversity and equality in the workplace.
2/ Wells Fargo: CEO promises to weed out bad behavior
CEO John Stumpf said the bank is taking steps to strengthen its compliance program following the unauthorized accounts scandal, and promises to stamp out bad behavior. 5,300 employees involved in the scandal were dismissed by the bank. Stumpf is schedule to appear in front of the Senate Banking Committee next week to testify about the scandal.
3/ Weight Watchers: Shares fall 6.56 percent following CEO resignation
The fall translates to the loss of $4.5 million to Oprah Winfrey, who bought 10 percent stake in the company last year. The drop is also the lowest level the company’s shares have fallen to since then.
4/ Ray Dalio: Says Fed doesn’t need to raise interest rates
Ray Dalio, founder and chairman of the word’s largest hedge fun Bridgewater Associates, said the Fed does not need to raise the rates at the time being. He also called out the financial executives who urged the Fed to raise the rates and said that they were wrong.
5/ Time Inc.: Appoints Rich Battista as the new CEO
A month after activist investor Jana Partners bought 5 percent stake in Time Inc., the company’s appointed Rich Battista to succeed Joe Ripp as the new CEO. Ripp will remain as the executive chairman. The company’s shares fell 1.04 percent following the news.
7/ JD Sports: Reports record H1 results and reveals global expansion plans
Strong demand for athletic leisure has contributed greatly to a 73 percent increase in the company’s half-year pre-tax profits. Riding on the wave of success, CEO Peter Cogwill said the company will “conquer the world” with a big overseas expansion. The company has just recently expanded in Australia and Portugal.
8/ Zenefits: Resolves licensing practices issues with three more states
The company’s past leadership took compliance with insurance laws and regulations as an afterthought. Thus, it’s paying the price as it was accused of “admitted unlicensed activity” and other licensing practices issues in many states. It settled with South Carolina and Tennessee over the summer, and now it added Arizona, Minnesota and New Jersey into that list.
9/ Uniper SE: Makes stock market debut
E.ON’s non-renewables spinoff Uniper debut on Frankfurt stock exchange. Traders value the company to be worth $4.4 billion, which is below the estimated value.
10/ Hanjin Shipping: Could sue shipper for $300 million following its bankruptcy
The creditors of the bankrupted Hanjin could seek damages from shippers on the transpacific trades for up to $300 million.
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