Active Broker’s Concerns In Focus: Western Digital Corporation (NASDAQ:WDC), Deutsche Bank AG (NYSE:DB)

Western Digital Corporation (NASDAQ:WDC) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 4.78% to close at $79.83 with the total traded volume of 2.95 Million shares. Western Digital Corporation (WDC) reported that it has successfully repriced €881 million of new Euro-denominated term B-2 loans at an interest rate of Euribor + 2.00%, which priced 125 basis points lower than its previous Euro-denominated term B-1 loans issued in September 2016.

The interest rate margin on the new loans is subject to an additional 25 basis point step-down following any quarter during which the Company’s total leverage ratio is less than 1.75:1.00. This new financing marks the Company’s second successful repricing of Euro-denominated term B loans since issuing its original Euro-denominated term B loans in connection with its acquisition of SanDisk Corporation in May 2016. In connection with this transaction, Western Digital settled the previous Euro-denominated term B-1 loans with the proceeds of this new loan.

The new financing is expected to generate annual cash interest savings of approximately $12 million beginning on March 23, 2017, resulting from the 125 basis point reduction in interest spread. The new term loans have the same remaining tenor as the previous Euro-denominated term B-1 loans and mature on April 29, 2023. The firm has institutional ownership of 87.20%, while insider ownership included 0.20%. Its price to sales ratio ended at 1.38. WDC attains analyst recommendation of 1.90 with week’s performance of -1.23%.

Deutsche Bank AG (NYSE:DB) [Trend Analysis] try to make new thrust in street and making different trends, stocks trading ended with -0.30% to $16.86. Deutsche Bank (DB) has begun negotiations over a move to new London headquarters in 2023, underscoring the bank’s commitment to the UK despite the uncertainties wrought by Brexit.The German lender, which employs 5,000 people at its UK corporate and investment bank, has picked a proposed development at 21 Moorgate for its new base, subject to planning permission.

Garth Ritchie, Deutsche’s UK chief executive, told staff the new offices would “advance the bank’s strategic goals”. BSupport and frontline banking staff, at present scattered across several London locations, would be brought together at the new site, allowing for stronger links between businesses and their support teams and “reducing complexity”, Mr Ritchie said. The share price of DB attracts active investors, as stock price of week volatility recorded 2.50%. The stock is going forward to its 52-week low with 50.67% and lagging behind from its 52-week high price with -19.48%.

 

About Aaron Smithies

Aaron Smithies has a wide look on current monetary and financial events. He is an editor and a writer. His views; At Streetwise Report, we think the best opportunities arise from a complete understanding of all investing disciplines in order to identify the most attractive stocks at any given time. Interests: Biotech, Finical markets, Dividend stock ideas & income, Energy stocks, Consumer goods stocks

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