Deutsche Bank AG (NYSE:DB) [Trend Analysis] retains strong position in active trade, as shares scoring -3.82% to $18.61 in active trade session, while looking at the shares volume, around 23.27 Million shares have changed hands in this session. Deutsche Bank (DB) confirmed that details of EUR8bln capital increase, refines strategy; announces new financial targets; stock indicated down 9-10% in pre-mkt. The firm reported its intent on a capital increase of ~EUR8 bln from the issuance of new shares with subscription rights.
The firm expects to issue up to 687.5 million new shares with subscription rights to existing shareholders and with the same dividend rights as all other outstanding shares. Up to EUR2 bln of additional capital accretion targeted in next two years from asset disposals and a flotation of minority stake of Deutsche Asset Management. Important strengthening of position in German home market intended, while retaining global reach in Corporate & Investment Bank, Wealth Management and Asset Managemen.
Simplified business model consisting of three business units: Corporate Finance, Global Markets and Global Transaction Banking to become part of an integrated Corporate & Investment Bank. Postbank and Deutsche Bank’s Private & Commercial Clients business will be combined
DB attains analyst recommendation of 4.00 with week’s performance of -4.95%. Investors looking further ahead will note that the Price to next year’s EPS is 64.39%.
Shares of General Electric Company (NYSE:GE) [Trend Analysis] swings enthusiastically in regular trading session, it a loss of -0.40% to close at $30.00. General Electric Co. (GE) and Baker Hughes Inc. (BHI) reported that they have each received a request for additional information from the United States Department of Justice in connection with the pending combination of GE’s oil and gas business with Baker Hughes.
The second requests were issued under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. GE and Baker Hughes noted that they have been working cooperatively with the DOJ as it conducts its review of the transaction. The effect of the second requests is to extend the waiting period imposed by the HSR Act until 30 days after GE and Baker Hughes have substantially complied with the requests, unless that period is extended voluntarily by the parties or terminated sooner by the DOJ.
The transaction remains subject to approval by Baker Hughes’ shareholders and other approvals, as well as customary closing conditions. GE and Baker Hughes expect the transaction to close in mid-2017. Moving forward to saw long-term intention, the experts calculate Return on Investment of 5.10%. The stock is going forward its fifty-two week low with 8.08% and lagging behind from its 52-week high price with -6.96%. GE last month stock price volatility remained 0.91%.