On Friday, share prices of Old Mutual dropped six percent or more as the company confirmed its plans of separating its activities into four different business units. The four new businesses will be split into Nedbank, OM Asset Management, Old Mutual Emerging Markets (OMEM) and its UK wealth business.
According to Old Mutual the separation in businesses will be done in such a way that it will maximize value to shareholders along with leaving enough room for the different businesses to expand further.
Stocks of Buffalo Wild Wings Inc. (BWLD), the Minneapolis, Minnesota based company is being followed closely by the investors. It began the day at 154.41 touching the highest for the day at 154.94 before dropping to a level of
134.95. At the end of the day, the stock traded at 142.08.
Union, New Jersey based Bed Bath & Beyond, the home furnishings retailer trimmed its third-quarter profit forecast. That brought down shares of the company by 6.3 percent on Tuesday, during the late evening trading. Though it is not the only retailer to do so in the sluggish market, but is surely the most resent one in the list.
On Tuesday, supporters of the Economic Freedom Fighters (EFF) numbered in thousands protested outside the Johannesburg Stock Exchange supporting the radical leftist party for the upcoming municipal elections in the year ahead.
There are some questions that are being raised as Koos Bekker, Naspers nonexecutive chairman sold seventy percent of his shares in the company and did not notify the market.
Stephen Meintjes, analyst with Momentum SP Reid said "Technically, it was not obligatory to disclose the selling of his shares, but it would have been helpful."
King Digital's, 'Candy Crush Saga" and "Candy Crush Soda Saga" might not be delivering too sugary dividends for the company.
As the company reported a disappointing outlook on Thursday, the shares dropped 8.6 percent late in the evening trading.
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