Home / Features / Intel Corporation (NASDAQ:INTC) Confirms $4.2B Accord With TPG- Tractor Supply (TSCO), Net 1 Ueps Technologies (UEPS)

Intel Corporation (NASDAQ:INTC) Confirms $4.2B Accord With TPG- Tractor Supply (TSCO), Net 1 Ueps Technologies (UEPS)

Intel Corporation (NASDAQ:INTC) declines -0.30% to close at $36.46 as 18.49 Million shares changed hands in regular trading session. The firm is going down from its 52 week high price of -0.38%. Intel (INTC) confirmed that $4.2 billion accord with TPG to establish a newly formed, together-owned, independent cybersecurity firm. The new firm will be called McAfee following transaction close. TPG will own 51 percent of McAfee and Intel will own 49 percent in a transaction valuing the business at about $4.2 billion. TPG is making a $1.1 billion equity investment to help drive growth and enhance focus as a standalone business.

Under the terms of the contract, TPG will own 51 percent of a newly-formed cybersecurity firm in a multi-step transaction valuing Intel Security at about $4.2 billion, based on an equity value of about $2.2 billion plus McAfee net debt of about $2 billion. The debt initially will be financed by Intel until completion of audited financial statements for McAfee (predictable within three to five months of close). The transaction is predictable to close in the q2 of 2017, subject to certain regulatory authorization s and customary closing conditions.

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Shares of Tractor Supply Firm (NASDAQ:TSCO) has price volatility of 1.42% in last 5 days trading session, as shares of firm closed at $83.53 by inching down of -0.02% in last session. Shares price moving down from its 20 days moving average with -1.78% and isolated negatively from 50 days moving average with -5.95%. Tractor Supply Firm (TSCO) provided that a business update for the third quarter-to-date and reported its participation in the Goldman Sachs 23rd Yearly Global Retailing Conference on September 8, 2016.

Net sales for the third quarter are predictable to raise about 4.2% to 5.0% to $1.54 billion to $1.55 billion from $1.48 billion in the third quarter of 2015, with same store sales ranging from flat to a decrease of (1.0)% versus an raise of 2.9% in previous year’s third quarter. Same store transaction counts in the third quarter are predictable to be slightly positive to flat in comparison to the previous year third quarter.

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Net 1 Ueps Technologies Inc. (NASDAQ:UEPS) build up 1.55% to finish at $9.85 in following trading session. Net 1 UEPS Technologies, Inc. (NASDAQ:UEPS) reported that its $50 million 10b5-1 share repurchase plan expired on August 31, 2016. Under the 10b5-1 plan, the Firm repurchased about 2.9 million shares of its ordinary stock for about $29.1 million, at an average price of $10.11 per share. In February 2016, the Firm’s Board agreed a $100 million repurchase plan, and as of August 31, 2016, the Firm had about $55.0 million remaining under this authorization.

In early September 2016, the Firm’s Audit Committee agreed the repurchase of about 226,000 shares of Firm ordinary stock from certain executive officers and staff at the September 2, 2016, volume weighted average price of $9.65, or about $2.2 million. The corporation has return on equity of 16.30% and while returns on assets was calculated 7.30% with -27.09% year to date performance. The yearly sales growth for the past five year was 11.50%.

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About Blake Escott

Blake Escott holds junior writer position in SWR. Before joining Streetwise Report, he was a freelance content Writer. He has high-level copywriting experience and particularly experienced in proofreading and editing. He covers news about different companies including all US market sectors. Interests: Commodities, Energy stocks, Sector-wise Stocks analysis, Utilities

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