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Spectra Energy Corp. (NYSE:SE): The company announced its plan to purchase Express Platte Pipeline. The deal is expected to be worth $1.25 billion. The amount will be paid in cash and will bring 1700 mile pipeline system under the company’s control.
The stock is currently trading at $27.18, down 0.57 percent from its previous close of $27.34. Spectra Energy is buying the interest in pipeline system from Kinder Morgan Energy Partners, Borealis Infrastructure and the Ontario Teachers’ Pension Plan. The company will also assume $240 million worth of debt. Spectra Energy s trading at the Price Earnings ratio of 17.59 and has traded in the range of $26.56 and $32.27 in the past 52 weeks. Spectra Energy expects the acquisition to be accretive from the beginning. It also expects the deal to increase its annual earnings per share by 3 to 5 cents. The company is likely to report its next year’s EPS at $1.64 per share. Spectra Energy expects the deal to conclude by the first half of next year.
Delta Airlines Inc. (NYSE:DAL): The stock is trading 5.97 percent up at $10.74. Delta Airlines is looking to buy 49 percent interest in Virgin Atlantic for $360 million. The deal will help the airlines to provide better cross Atlantic connectivity. Virgin Atlantic and Delta Airlines plan to form a joint venture to facilitate cost sharing and seat agreements. Delta stock had opened at $10.26 and has traded in the range of $10.19 and $10.77 in the current trading session. The proposed deal is yet to be approved by the US and EU regulators and the companies are looking to finalize the arrangement by the end of 2013. Delta currently runs only three direct flights a day from New York to Heathrow. its stock commands the Price Earnings ratio of 6.35.
Casey’s General Stores Inc. (NASDAQ:CASY): The company reported lower profit for its fiscal second quarter of the year. Its net income for the quarter stood at $32.9 million, down 13 percent from $37.6 million it had earned for the corresponding quarter of the last year. However, its revenue increased 7.2 percent to touch $1.91 billion figure, in line with consensus estimate. Casey’s General Stores is currently trading at $52.84, up 8.86 percent from its previous close of $48.54. The stock is trading at the Price Earnings ratio of 17.47. Casey’s General Stores also reported its earnings per share at 85 cents per share, down from 98 cents per share it had earned a year earlier. The company also reported 10.1 higher same stores sales. The company stock has traded in the range of $46.15 and $63.00 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $52.78 and 50 days moving average price of $52.42.
Texas Instruments Inc. (NASDAQ:TXN): The stock is trading up despite the company’s lower forecast. It is trading 3.62 percent up at $30.90. Texas Instruments is now looking to earn between 5 to 9 cents per share for the fourth quarter of the year. Its earlier forecast was in the range of 23 to 31 cents per share. Texas Instruments reported that it had to trim the forecast due to higher restructuring costs. The company will charge 21 cents per share for the restructuring costs for its wireless business. The stock has traded in the range of $26.06 and $34.24 in the past 52 weeks. However, Texas Instruments is trading above its 20 days moving average price of $29.82 and 50 days moving average price of $29.83. The company expects its revenue to be in the range of $2.89 billion and $3.01 billion.
Teavana Holdings Inc. (NYSE:TEA): The company reported its third quarter loss at $1.4 million, owing to onetime costs related to its acquisition by Starbucks. The stock is currently trading marginally down at $15.44. It had opened at $15.46 and has traded in the range of $15.43 and $15.49 in the current trading session. Teavana Holdings reported 38 percent increase in its quarterly revenue to $46 million, beating consensus estimate of $44.7 million in revenue. The main reason for increase in revenue is its acquisition of 46 Teaopia stores in June. Teavana Holdings is set to be acquired by Starbucks Corp., as announced in November this year. Its shareholders will get $15.50 per share under the deal. Its stock commands the Price Earnings ratio of 36.27.
