Monthly Archives: September 2014

October playbook: Google, Ryder & more

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My 2014 Best Performers, Looking Ahead To 2015






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CATERPILLAR INC Files SEC form 8-K, Other Events

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Item 8.01. Other Events

Caterpillar Inc. is announcing price action of 0% – 2% worldwide on most machines. This price action will be effective January 2015 and includes adjustments to list prices and merchandising support. The impact of these actions will vary depending on product and regional mix.

In addition, 2015 will see emissions related price increases on select machine models for applicable regions. Emissions price action is expected to be between 2% and 6% on most machine models.

These price actions are a result of current industry factors as well as general economic conditions. Details by product will be released to dealers in the near future, and will vary across geographic regions and products.

FORWARD-LOOKING STATEMENTS

Certain statements in this filing relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “project,” “intend,” “could,” “should” or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance, and we do not undertake to update our forward-looking statements.

Caterpillar’s actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global economic conditions and economic conditions in the industries we serve; (ii) government monetary or fiscal policies and infrastructure spending; (iii) commodity price changes, component price increases, fluctuations in demand for our products or significant shortages of component products; (iv) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (v) political and economic risks, commercial instability and events beyond our control in the countries in which we operate;
(vi) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (vii) our Financial Products segment’s risks associated with the financial services industry; (viii) changes in interest rates or market liquidity conditions; (ix) an increase in delinquencies, repossessions or net losses of Cat Financials customers; (x) new regulations or changes in financial services regulations; (xi) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xii) international trade policies and their impact on demand for our products and our competitive position; (xiii) our ability to develop, produce and market quality products that meet our customers’ needs; (xiv) the impact of the highly competitive environment in which we operate on our sales and pricing; (xv) failure to realize all of the anticipated benefits from initiatives to increase our productivity, efficiency and cash flow and to reduce costs; (xvi) additional restructuring costs or a failure to realize anticipated savings or benefits from past or future cost reduction actions; (xvii) inventory management decisions and sourcing practices of our dealers and our OEM customers; (xviii) compliance with environmental laws and regulation; (xix) alleged or actual violations of trade or anti-corruption laws and regulations; (xx) additional tax expense or exposure; (xxi) currency fluctuations; (xxii) our or Cat Financial’s compliance with financial covenants;
(xxiii) increased pension plan funding obligations; (xxiv) union disputes or other employee relations issues; (xxv) significant legal proceedings, claims, lawsuits or investigations;


(xxvi) compliance requirements imposed if additional carbon emissions legislation and/or regulations are adopted; (xxvii) changes in accounting standards; (xxviii) failure or breach of IT security; (xxix) adverse effects of unexpected events including natural disasters; and (xxx) other factors described in more detail under “Item 1A. Risk Factors” in our Form 10-K filed with the SEC on February 18, 2014 for the year ended December 31, 2013 and in our Form 10-Q filed with the SEC on August 1, 2014 for the quarter ended June 30, 2014.


SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided “as is” for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.






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Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

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BOSTON, Sept. 30, 2014 /PRNewswire/ — The Eaton Vance closed-end funds listed below released today the estimated sources of their September distributions (each a “Fund”).  This press release is issued as required by the Funds’ managed distribution plan (Plan) and an exemptive order received from the U.S. Securities and Exchange Commission.  The Board of Trustees has approved the implementation of the Plan to make monthly or quarterly, as noted below, cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the September distribution.  It is not determinative of the tax character of a Fund’s distributions for the 2014 calendar year. Shareholders should note that each Fund’s total regular distribution amount is subject to change as a result of market conditions or other factors.

IMPORTANT DISCLOSURE:  You should not draw any conclusions about each Fund’s investment performance from the amount of this distribution or from the terms of each Fund’s Plan.  Each Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in each Fund is paid back to you. A return of capital distribution does not necessarily reflect each Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’  The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

The following tables set forth estimates of the sources of each Fund’s September distribution and its cumulative distributions paid for its fiscal year through September 30, 2014, and information relating to each Fund’s performance based on its net asset value (NAV) for certain periods.

Eaton Vance Enhanced Equity Income Fund (EOI)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.0864

Distribution Frequency:

Monthly

Fiscal Year End:

September

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.0066

7.60%

$0.0842

8.10%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.3918

37.80%

Net Realized Long-Term Capital Gains

$0.0798

92.40%

$0.1591

15.40%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.4017

38.70%

Total per common share

$0.0864

100.00%

$1.0368

100.00%

Average annual total return at NAV for the 5-year period ended on August 31, 2014 1

12.79%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

6.94%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

19.89%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4

6.37%

Eaton Vance Enhanced Equity Income Fund II (EOS)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.0875

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.0032

3.70%

$0.0221

2.80%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.2418

30.70%

Net Realized Long-Term Capital Gains

$0.0232

26.50%

$0.4625

58.70%

Return of Capital or Other Capital Source(s)

$0.0611

69.80%

$0.0611

7.80%

Total per common share

$0.0875

100.00%

$0.7875

100.00%

Average annual total return at NAV for the 5-year period ended on August 31, 2014 1

14.15%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

7.15%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

9.17%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4

4.77%

Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.0930

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.0930

100.00%

$0.8370

100.00%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.0000

0.00%

Total per common share

$0.0930

100.00%

$0.8370

100.00%

Average annual total return at NAV for the 5-year period ended on August 31, 2014 1

5.49%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

8.86%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

5.69%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4

5.90%

Eaton Vance Short Duration Diversified Income Fund (EVG)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.0900

Distribution Frequency:

Monthly

Fiscal Year End:

October

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.0820

90.60%

$0.7340

74.10%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Return of Capital or Other Capital Source(s)

$0.0080

9.40%

$0.2560

25.90%

Total per common share

$0.0900

100.00%

$0.9900

100.00%

Average annual total return at NAV for the 5-year period ended on August 31, 2014 1

6.21%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

6.47%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

4.26%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4

5.40%

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund  (ETO)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.1500

Distribution Frequency:

Monthly

Fiscal Year End:

October

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.1254

83.60%

$1.4108

85.50%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0246

16.40%

$0.2392

14.50%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.0000

0.00%

Total per common share

$0.1500

100.00%

$1.6500

100.00%

Average annual total return at NAV for the 5-year period ended on August 31, 2014 1

15.88%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

6.63%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

13.85%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4 5

5.52%

Eaton Vance Tax-Managed Buy-Write Income Fund (ETB)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.1080

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.0139

12.80%

$0.1268

13.00%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Return of Capital or Other Capital Source(s)

$0.0941

87.20%

$0.8452

87.00%

Total per common share

$0.1080

100.00%

$0.9720

100.00%

Average annual total return at NAV for the 5-year period ended on August 31, 2014 1

13.00%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

7.82%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

7.72%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4

5.21%

Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.1108

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.0090

8.10%

$0.0848

8.50%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0099

8.90%

$0.0099

1.00%

Return of Capital or Other Capital Source(s)

$0.0919

83.00%

$0.9025

90.50%

Total per common share

$0.1108

100.00%

$0.9972

100.00%

Average annual total return at NAV for the 5-year period ended on August 31, 2014 1

13.46%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

8.78%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

8.50%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4

5.85%

Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.0843

Distribution Frequency:

Monthly

Fiscal Year End:

October

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.0351

41.70%

$0.2930

31.60%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Return of Capital or Other Capital Source(s)

$0.0492

58.30%

$0.6343

68.40%

Total per common share

$0.0843

100.00%

$0.9273

100.00%

Average annual total return at NAV for the 5-year period ended on August 31, 2014 1

11.53%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

8.07%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

13.81%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4

6.72%

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.0973

Distribution Frequency:

Monthly

Fiscal Year End:

December

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.0209

21.50%

$0.1655

18.90%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Return of Capital or Other Capital Source(s)

$0.0764

78.50%

$0.7102

81.10%

Total per common share

$0.0973

100.00%

$0.8757

100.00%

Average annual total return at NAV for the 5-year period ended on August 31, 2014 1

11.17%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

8.88%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

6.63%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4

5.92%

Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.0813

Distribution Frequency:

Monthly

Fiscal Year End:

October

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.0813

100.00%

$0.8943

100.00%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Return of Capital or Other Capital Source(s)

$0.0000

0.00%

$0.0000

0.00%

Total per common share

$0.0813

100.00%

$0.8943

100.00%

Average annual total return at NAV for the 5-year period ended on August 31, 2014 1

10.15%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

8.91%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

9.59%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4

7.42%

Eaton Vance Tax-Advantaged Bond and Option Strategies Fund (EXD)

Distribution Period: 

September- 2014

Distribution Amount per Common Share: 

$0.3500

Distribution Frequency:

Quarterly

Fiscal Year End:

December

Source

Current
Distribution

% of Current
Distribution

Cumulative
Distributions for the
Fiscal Year-to-Date

% of the Cumulative
Distributions for the
Fiscal Year-to-Date

Net Investment Income

$0.0220

6.30%

$0.0620

4.20%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Return of Capital or Other Capital Source(s)

$0.3280

93.70%

$1.4130

95.80%

Total per common share

$0.3500

100.00%

$1.4750

100.00%

Average annual total return at NAV for the period from inception through August 31, 2014 6

4.35%

Annualized current distribution rate expressed as a percentage of NAV as of August 31, 2014 2

9.15%

Cumulative total return at NAV for the fiscal year through August 31, 2014 3

5.15%

Cumulative fiscal year to date distribution rate as a percentage of NAV as of August 31, 2014 4

4.58%

1 Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the 5-year period ended  

  on August 31, 2014.

2 The annualized current distribution rate is the cumulative distribution rate annualized as a percentage of the Fund’s NAV as of August 31, 2014.

3 Cumulative total return at NAV is the percentage change in the Fund’s NAV for the period from the beginning of its fiscal year to August 31, 2014 

   including distributions paid and assuming reinvestment of those distributions.

4 Cumulative fiscal year distribution rate for the period from the beginning of its fiscal year to August 31, 2014 measured on the dollar value of the

  distributions in year-to-date period as a percentage of the Fund’s NAV as of  August 31, 2014.

5 Does not include the capital gain of $0.519 paid on 12/31/13. 

6 Average annual total return at NAV represents the change in NAV of the Fund, with all distributions reinvested, for the period from inception  

  (06/29/2010) through August 31, 2014.

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Magna acquires Techform Group of Companies

This post was originally published on this site



My 2014 Best Performers, Looking Ahead To 2015

Enhances portfolio with hinge and wire forming technologies

AURORA, ON , Sept. 30, 2014 /CNW/ – Magna International Inc. announced today that one of its subsidiaries
has signed an agreement to acquire the Techform Group of Companies, an
automotive supplier of hinges, door locking rods and other closure
products.  The acquisition combines Techform’s product technology and
processing expertise with Magna Closures’ system integration, global
footprint and world class manufacturing capabilities.

On completion of the transaction, Magna will acquire Techform’s
facilities located in Penetanguishene, Ontario ; Portland, Tennessee ;
and Hefei , Anhui China .

“The Techform acquisition complements our product portfolio and further
strengthens our global leadership position in the closure systems
market,” said Frank Seguin , President, Magna Closures and Mirrors. 
“Techform’s product and processing know-how and technology broadens our
current capabilities and provides additional growth opportunities for
us going forward.”

Subject to the completion of certain customary terms and conditions, the
transaction is scheduled to close in early October, 2014.  Terms of the
transaction will not be disclosed.

About Magna International
We are a leading global automotive supplier with 317 manufacturing
operations and 83 product development, engineering and sales centres in
29 countries. We have over 130,000 employees focused on delivering
superior value to our customers through innovative products and
processes, and World Class Manufacturing. Our product capabilities
include producing body, chassis, interior, exterior, seating,
powertrain, electronic, vision, closure and roof systems and modules,
as well as complete vehicle engineering and contract manufacturing. Our
common shares trade on the Toronto Stock Exchange (MG) and the New York
Stock Exchange (MGA). For further information about Magna, visit our
website at www.magna.com.

# # #

THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING
STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO,
AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT
IN MAGNA’S REGULATORY FILINGS.  PLEASE REFER TO MAGNA’S MOST CURRENT
MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM
40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY
FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK
FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE
INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE
AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT
WWW.MAGNA.COM.

SOURCE Magna International Inc.

View photo

.

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Contact:

Tracy Fuerst
Director, Corporate Communications &
Media Relations
(248) 631-5396
Tracy.fuerst@magna.com






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Magna acquires Techform Group of Companies

This post was originally published on this site



My 2014 Best Performers, Looking Ahead To 2015

Enhances portfolio with hinge and wire forming technologies

AURORA, ON, Sept. 30, 2014 /PRNewswire/ – Magna International Inc. announced today that one of its subsidiaries has signed an agreement to acquire the Techform Group of Companies, an automotive supplier of hinges, door locking rods and other closure products.  The acquisition combines Techform’s product technology and processing expertise with Magna Closures’ system integration, global footprint and world class manufacturing capabilities.

On completion of the transaction, Magna will acquire Techform’s facilities located in Penetanguishene, Ontario; Portland, Tennessee; and Hefei, Anhui China.

“The Techform acquisition complements our product portfolio and further strengthens our global leadership position in the closure systems market,” said Frank Seguin, President, Magna Closures and Mirrors.  “Techform’s product and processing know-how and technology broadens our current capabilities and provides additional growth opportunities for us going forward.”

Subject to the completion of certain customary terms and conditions, the transaction is scheduled to close in early October, 2014.  Terms of the transaction will not be disclosed.

About Magna International
We are a leading global automotive supplier with 317 manufacturing operations and 83 product development, engineering and sales centres in 29 countries. We have over 130,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. Our product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as complete vehicle engineering and contract manufacturing. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.

# # #

THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS.  PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT WWW.MAGNA.COM.

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How Hong Kong protests affect the big money

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Ideal PEG, Superior Dividend, Value Growth Opportunities

Hedge funds and other big money managers in Hong Kong aren’t in panic mode over the democracy protests sweeping the city.

Those with local offices, such as hedge fund firms Och-Ziff Capital Management Group, TT International and private equity shop Blackstone Group, are operating as usual, according to people familiar with the situation.

The most tangible effect on financial firms has been a challenging commute, with virtually no cars, buses or taxis flowing in Central, the skyscraper-studded business neighborhood that has been the focal point of the protests. But the subway is running, so most employees have been able to get to work. Some in the financial industry have even mingled with nearby protesters and in one case cooked them sausages.

“So far, getting to work is a bit more of a hassle—lots of police about—but feels pretty much business as usual,” said one investment firm employee in the city who asked not to be identified.

The protests—formally called “Occupy Central with Love and Peace” and focused on allowing democratic elections without Chinese influence—have been noticeably calm despite some police use of tear gas on students. Participants even cleaned up their own trash on Tuesday and some refer inoffensively to the effort as the “Umbrella Revolution” because of the recent rain.

Read More Live Blog: Hong Kong protesters not backing down

While operations have been mostly normal, the city’s financial firms are tracking it closely and are prepared for an escalation with the size of the movement expected to surge Wednesday and Thursday, China’s National Day holiday.

Some, like Maso Capital and Keywise Capital Management, sent notes to clients Monday reassuring them they were operating as usual but were actively monitoring the situation. Others, like BlackRock and local hedge funds, allowed employees to work from home even if their offices remained open, according to those with knowledge of the situation.

Banks were more affected: A total of 44 branches, offices or ATMs of 23 banks, such as HSBC and Standard Chartered, were temporarily closed, as of late afternoon Tuesday local time, according to the Hong Kong Monetary Authority.

Some in the financial community—many of them expatriates or educated in the U.S. or Europe—sympathize with the calls for democratic reform.

“The expat financial community in Hong Kong sympathizes with locals. … Most of us come from democratic countries,” said an employee of a major bank with offices in the city. “While we sympathize, we do not protest with them. Openly protesting for any cause is not an accepted norm in Hong Kong, and the longer the protests go, the more the local community will split between idealists and people just wanting to get back to their lives.”

At least one in the hedge fund community has been highly public about his support. Edward Chin, who runs family office and hedge fund consulting firm MDE in Hong Kong, has taken part in the protests and leads the Occupy movement’s “Finance and banking group.” The group has paid for ads in The Wall Street Journal and The New York Times promoting the protest.

“The message is clear,” he said in an email to CNBC.com on Tuesday, “Hong Kong people want true democracy.”

Read More

Read MoreProtesters hurting Hong Kong? Not so fast…






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Trader sticking with EOG

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Johnson Controls to Grow on Strategic Steps & Expansion

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My 2014 Best Performers, Looking Ahead To 2015

On Sep 25, 2014, we issued an updated research report on Johnson Controls, Inc. (JCI). This Zacks Rank #3 (Hold) stock reported a 2.44% earnings surprise in the last quarter.

Johnson Controls reported adjusted earnings of 84 cents per share in third-quarter fiscal 2014 (ended Jun 30, 2014), surpassing the Zacks Consensus Estimate of 82 cents. Earnings were up 16.7% from 72 cents in the comparable quarter of the previous year.

Johnson Controls is positioned to benefit from its focus on market expansion in China. The company supplies advanced technologies and technical capabilities in China. Recently, Johnson Controls opened a new automotive battery manufacturing plant in Fuling District of Chongqing, Western China. The plant has a production capacity of 6 million automotive batteries per year and will offer state-of-the-art technology and services to customers.

Johnson Controls projects higher sales and earnings in fiscal 2014, based on its leading market position in core businesses and strong overall performance. The company anticipates earnings in the range of $1.00–$1.02 per share for the fourth quarter of 2014, reflecting an 11% rise from the year-ago quarter. Meanwhile, the company projects earnings per share in the band of $3.10 to $3.15 for fiscal 2014.

However, Johnson Controls faces intense competition from major domestic and international manufacturers and distributors of lead-acid batteries, particularly in North America, Europe and Asia. Moreover, original equipment manufacturers are continuously pressurizing suppliers such as Johnson Controls to reduce prices due to high inventory levels.

Other Stocks to Consider

Investors interested in automobile stocks can also consider China Automotive Systems Inc. (CAAS), STRATTEC Security Corporation (STRT) and Magna International Inc. (MGA). While China Automotive sport a Zacks Rank #1 (Strong Buy), Magna International and STRATTEC Security carries a Zacks Rank #2 (Buy).

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India’s Modi promises U.S. CEOs a return to market reforms

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By James B. Kelleher

(Reuters) – Indian Prime Minister Narendra Modi told nearly a dozen U.S. company chiefs on Monday that he is committed to liberalizing his country’s economy, which has underperformed other emerging markets recently after years of breakneck growth.

Modi spoke at a breakfast with 11 chief executive officers during his first U.S. visit since coming came to power in May, vowing to get India’s economy back on track.

The prime minister was headed to Washington for a private working dinner with President Barack Obama on the fourth day of the visit. Modi, however, is fasting.

Among those attending the breakfast at the New York Palace Hotel were the CEOs of Caterpillar Inc (CAT.N) and Boeing Co (BA.N).

“He wasn’t at all like the politicians we’re used to here,” said Caterpillar Chairman and CEO Doug Oberhelman, who shared his impressions of the breakfast meeting with Reuters.

“He acknowledged that the last five years have been very difficult for the Indian population, the Indian economy and the world in general, and he vowed and promised to change that. I believed him. He was very serious. … I was genuinely quite impressed.”

However, some U.S. business groups have questioned Modi’s reformist credentials.

Last week, the U.S. Chamber of Commerce and 15 other business associations representing various sectors gave a more cautious assessment of the prime minister’s record so far.

Modi also alarmed some foes of government tinkering with business last week when he said in India that multinational soft-drink giants PepsiCo Inc (PEP.N) and Coca-Cola Co (KO.N) should help increase sales by Indian farmers by adding fresh fruit juices to their fizzy drinks.

In a letter to Obama, the U.S. business groups urged the president to press Modi to remove barriers to trade when the two leaders meet on Monday and Tuesday

The letter highlighted India’s blockage of a key World Trade Organization agreement reached last year, which overshadowed a July 30-Aug. 1 visit to India by U.S. Secretary of State John Kerry. The business alliance also complained about India’s raised tariffs and “burdensome” new testing requirements on imported information and communication technology products.

Last week, U.S. congressional leaders on trade and finance wrote to the U.S. International Trade Commission calling for a second investigation into India’s “unfair” trade practices, detailing any changes under Modi.

In a speech at the Council on Foreign Relations think tank on Monday before heading to Washington, Modi reiterated India’s WTO stance, saying that while India supported the trade pact, its demands for food stockpiles were not incompatible with it.

He stressed his campaign to encourage manufacturing in India and the country’s desire for U.S. research and technology, something U.S. firms have been reluctant to share without stronger Indian intellectual property protections

India, which once seemed to vie with China for the title of fastest-growing developing economy, has stumbled in recent years as a spate of scandals undermined business confidence in the government’s commitment to economic reform.

Still, Modi had won the confidence of at least one other high-profile U.S. CEO even before the U.S. visit.

Cisco Systems Inc (CSCO.O) Chief Executive John Chambers last week praised him as a leader who had “captured the imagination” of Indian business, adding that he would make the needed “tough decisions” to revive the company’s economy.

One of Modi’s priorities on this trip is to gather more such endorsements and – judging from Oberhelman’s reaction – he won some more converts at Monday’s CEO breakfast.

“I deeply believe that he’s committed to changing India,” Oberhelman said.

“There’s no question that part of his mission is to enhance and increase the investment climate in India, both for domestic companies and for direct investment.”

Caterpillar is the world’s largest maker of earthmoving construction and mining equipment. The Peoria, Illinois-based company operates several plants and research and development centres in India and – together with its two independent dealers – employs more than 10,000 people there.

Monday’s events follow three momentous days for India’s new leader.

On Saturday, Modi addressed the United Nations General Assembly, taking a jab at Pakistan over the disputed region of Kashmir. That evening, he appeared before some 60,000 people at a musical event in New York’s Central Park aimed at ending global poverty and bringing essentials such as sanitation to all.

And on Sunday, the prime minister received a rapturous welcome from Indian-Americans in an appearance in New York’s Madison Square Garden arena

It was all a far cry from 2005, when the former chief minister of Gujarat was denied a U.S. visa over rioting in his home state that killed more than 1,000 people, mainly Muslims, three years before. Modi, who denies wrongdoing, has been exonerated by an Indian Supreme Court probe.

However, the issue has not been forgotten and Modi’s U.S. trip had an awkward start on Friday after a little-known human rights group sued him in New York, alleging he failed to stop the riots.

(This version corrects day of U.N. speech to Saturday from Friday)

(Reporting by James B. Kelleher in Chicago; Additional reporting by David Brunnstrom and Christian Plumb in New York; Editing by Jonathan Oatis)






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Magna International Enhances Indian Presence with 2 Plants

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My 2014 Best Performers, Looking Ahead To 2015

Share price of Magna International Inc. (MGA) rallied 1.3% to $104.22 on Sep 23, after the company announced plans of building two new facilities in the Sanand region of Gujarat, India. These new facilities are part of the company’s initiative to expand its global engineering and manufacturing footprint. The plants will also help the company enhance its operations in India with increased vehicle production.

Magna International announced that it will be producing complete seat systems for leading automakers in one of these two new facilities. The seat system facility will span across 215,000 square feet and employ around 200 workers. However, volume production in the plant is expected to begin in 2015.

In the second facility, the company will produce body and chassis systems for various customers. This facility will spread over an area of 356,000 square feet and will employ approximately 400 employees. This facility will also initiate production in 2015.

Magna International enjoys rising product demand in India and provides its Indian customers with product and process expertise locally, together with global program coordination through a body and chassis engineering center in Bengaluru, seating and full-vehicle engineering facilities in Pune, and a latch and closure engineering unit in Chennai. With this, Magna International believes that it is well positioned to support the increase in vehicle production in India.

Other than the two planned facilities, Magna International has 9 manufacturing locations and four engineering centers in India. At present it employs 1,600 workers in the nation. The other facilities of Magna International in India include a body and chassis plant in Pune which comprises 279,000 square feet. This plant conducts blanking, stamping, forming, welding and assembly on programs for customers like General Motors Co. (GM), among others.

Magna International has another body and chassis plant located in Chennai which carries out stamping, welding and assembling activities for Ford Motor Co. (F) and Nissan Motor Co. Ltd. (NSANY) in India and also for customers outside India. Other than these, Magna International owns a seating design and engineering center in Pune and a vacuum pump manufacturing facility in Bengaluru.

Based in Aurora, Canada, Magna International is a leading manufacturer and supplier of automotive components. The company currently carries a Zacks Rank #2 (Buy).

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