Akzo Nobel rejects $22 billion bid from PPG

PPGPaints PPG may be in talks to acquire all or part of Akzo Nobel NV a Dutch-based paints maker. In 2012 PPG bought AkzoNobel's North American architectural paints business for $1 billion allowing PPG to add Glidden Liquid Nails and other brands

A gap is a space between prices that occurs when the price of a stock makes a move down or up when there is no trading happening in between. This is a change of -0.36% from open which creates a gap of -0.06%. This is great news for the sector. The average 12 month price objective among brokerages that have issued ratings on the stock in the a year ago is $111.89. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.01.

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"Akzo Nobel has enjoyed a record performance in recent years in terms of profitability and has made significant strategic progress, allowing us to take this decision", Buechner said in the statement. Cornerstone Advisors Inc. now owns 1,047 shares of the company's stock valued at $108,000 after buying an additional 958 shares during the last quarter.

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When it comes to earning per share the company is at -56.90% for the year with a projected 8.45% earning per share for the next year. During the same period previous year, the company posted $1.16 EPS. Cadence Capital Management LLC raised its stake in shares of PPG Industries by 0.3% in the fourth quarter. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.57%. PPG Industries had a net margin of 5.56% and a return on equity of 30.59%. PPG Industries, Inc. has a 52-week low of $89.64 and a 52-week high of $117.00. One of the CEO's first major strategic decisions upon taking the helm in 2014 was to execute on the sale of Akzo Nobel's US decorative paints business to PPG for about $1 billion. Its Specialty Chemicals segment supplies industries around the world with ingredients and process aids for the manufacture of life's essentials. Institutional ownership in the company is 73.40% while the short ratio is 2.87.

Cleveland Browns would give up No. 12 pick for Jimmy Garoppolo
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