ING Groep N.V. (NYSE:ING) [Trend Analysis] retains strong position in active trade, as shares scoring -1.38% to $12.17 in a active trade session, while looking at the shares volume, about 1.72 Million shares have changed hands in this session. Dutch banking firm ING Group NV (ING) plans to cut about 7,000 jobs by 2021, as it aims to cut costs. The firm stated 3,500 job cuts will be in Belgium and 2,300 in the Netherlands. The cuts are aimed at saving 900 million euros or $1.01 billion in yearly costs by 2021 and represent about 13% of the bank’s global workforce.
The firm additional stated it plans an investment of 800 million euros in continued digital transformation. For the intended workforce reductions, a pre-tax redundancy provision of about 1.1 billion euros is predictable to be booked, of which 1.0 billion euros in the fourth quarter of 2016, the firm stated in its statement. The firm has institutional ownership of 2.30%, while insider ownership included 1.00%. ING attains analyst recommendation of 1.00 with week’s performance of 0.25%. Investors looking additional ahead will note that the Price to next year’s EPS is 0.48%.
Shares of Janus Capital Group, Inc. (NYSE:JNS) [Trend Analysis] swings enthusiastically in regular trading session, it an advance of 12.06% to close at $15.70. Henderson Group plc and Janus Capital Group Inc. (JNS) released that their Boards have agreed to an all-stock merger of equals. The combined firm will be appointedJanus Henderson Global Investors plc. Henderson and Janus shareholders are predictable to own about 57% and 43% respectively of Janus Henderson Global Investors’ shares on closing.
The merger will be effected via a share exchange with each share of Janus ordinary stock exchanged for 4.7190 newly issued shares in Henderson. The merger is predictable to be double-digit accretive to both companies’ eps, not comprising one-off costs, in the first 12 months following closing.
The combined group will apply for admission to trade on the NYSE as its primary listing, retaining Henderson’s existing listing on the ASX. Henderson and Janus CEOs will lead Janus Henderson Global Investors plc together. Henderson’s CFO, Roger Thompson, will become CFO of the combined Group. Janus’ CFO, Jennifer McPeek, will become Chief Operating and Strategy Officer of Janus Henderson Global Investors. Moving forward to saw long-term intention, the experts calculate Return on Investment of 9.70%. The stock is going forward its fifty-two week low with 45.14% and lagging behind from its 52-week high price with 0.04%. JNS last month stock price volatility remained 2.06%.