Shares of Ambev SA (ADR) (NYSE:ABEV) ended Thursday session in red amid volatile trading. The shares closed down -0.06 points or -0.96% at $6.16 with 12.78 million shares getting traded. Post opening the session at $6.22, the shares hit an intraday low of $6.13 and an intraday high of $6.24 and the price vacillated in this range throughout the day. The company has a market cap of $97.76 billion and the numbers of outstanding shares have been calculated to be 15.70 billion shares.
Ambev SA (ADR) (ABEV) produces, distributes, and sells beer, draft beer, soft drinks, other non-alcoholic beverages, malt, and food in the Americas. The company operates through Latin America North, Latin America South, and Canada segments. It offers beers primarily under the Skol, Brahma, and Antarctica brands. The company also provides carbonated soft drinks, bottled water, isotonic beverages, energy drinks, and ready-to-drink teas under the Guaraná Antarctica, Guaraná Antarctica Black, Gatorade, H2OH!, Lipton Iced Tea, Fusion, Monster, Red Rock, Pepsi-Cola, and Seven Up brands. Ambev S.A. offers its products through a network of third-party distributors and a direct distribution system. The company was founded in 1885 and is headquartered in São Paulo, Brazil. Ambev S.A. is a subsidiary of Interbrew International B.V.
Shares of Johnson Controls Inc (NYSE:JCI) ended Thursday session in red amid volatile trading. The shares closed down -0.08 points or -0.18% at $44.01 with 4.66 million shares getting traded. Post opening the session at $44.22, the shares hit an intraday low of $43.83 and an intraday high of $44.41 and the price vacillated in this range throughout the day. The company has a market cap of $41.26 billion and the numbers of outstanding shares have been calculated to be 935.79 million shares.
Johnson Controls Inc (JCI) announced its board of directors has approved the previously announced spin-off of its global automotive seating and interiors business. The transaction will result in two independent, publicly traded companies: Johnson Controls International plc and Adient plc. The spin-off is expected to be completed on Oct. 31, 2016.
At the time of the separation, Adient will be the world’s largest global automotive seating supplier, supporting all major automakers in differentiating vehicles through superior quality, technology and performance. Johnson Controls will continue to operate as a global leader in building products and technology, integrated solutions and energy storage.
“This announcement is an important step as Adient continues on its path toward becoming an independent company,” said incoming Adient Chairman and Chief Executive Officer R. Bruce McDonald. “As the market leader in the automotive seating industry, Adient is well-positioned for growth and margin expansion as we commit to reinvesting in the business on a global basis.”