CEMEX, S.A.B. de C.V. (NYSE:CX) [Trend Analysis] retains strong position in active trade, as shares scoring 2.68% to $8.04 in a active trade session, while looking at the shares volume, around 7.05 Million shares have changed hands in this session. CEMEX S.A. (CX) announced that take-over bid for Trinidad Cement at TT $ 4.50/share in cash.
CX announces that one of its indirect subsidiaries, Sierra Trading, will present an offer and take-over bid to all shareholders of Trinidad Cement Limited, a company publicly listed in Trinidad and Tobago, Jamaica and Barbados, to acquire up to 132,616,942 ordinary shares in TCL for TT$4.50 in cash per TCL share, which together with Sierra’s existing share ownership in TCL of around 39.5%, would, if successful, result in Sierra holding up to 74.9% of the equity share capital in TCL.
Full acceptance of the Offer would result in a cash payment by Sierra of approximately TT$597 million.
The Offer period is expected to close on January 10, 2017.TCL and its subsidiaries had EBITDA of approximately U.S.$77 million for the last twelve months & net debt of approximately U.S.$113 million. The offer will be conditional on Sierra acquiring at least an amount of TCL shares that would allow CEMEX to consolidate TCL. The firm has institutional ownership of 36.80%, while insider ownership included 60.00%. CX attains analyst recommendation of 2.40 with week’s performance of 2.29%. Investors looking further ahead will note that the Price to next year’s EPS is 13.92%.
Eli Lilly and Company (NYSE:LLY) [Trend Analysis] knocking active thrust in leading trading session, shares a decrease of -0.66% to 67.26 with around 7.22 Million shares have changed hands in this session. The U.S. Food and Drug Administration (FDA) permitted a new indication for Jardiance®(empagliflozin) tablets to reduce the risk of cardiovascular death in adults with type 2 diabetes and established cardiovascular disease. JARDIANCE is the first type 2 diabetes treatment approved with this additional indication and the only oral type 2 diabetes medicine shown in a clinical trial to provide a life-saving cardiovascular benefit.
JARDIANCE is marketed by BoehringerIngelheim and Eli Lilly and Company (LLY).”As the only diabetes treatment approved by the FDA to reduce the risk of cardiovascular death, JARDIANCE represents a tremendous step forward in our efforts to reduce the impact of heart disease among adults with type 2 diabetes and cardiovascular disease,” said Paul Fonteyne, president and CEO, BoehringerIngelheim Pharmaceuticals, Inc.
“This approval is another example of our commitment to the discovery and development of treatment options for adults with type 2 diabetes. We believe that JARDIANCE is an important treatment option for this patient population.” The stock is going forward its fifty-two week low with 4.80% and lagging behind from its 52-week high price with -21.66%.
Similar, the positive performance for the quarter recorded as -13.77% and for the year was -20.27%, while the YTD performance remained at -18.03%. LLY has Average True Range for 14 days of 2.03.