CG Stocks Updates- Diageo plc (DEO), Ball Corporation (BLL)

Shares of Diageo plc (ADR) (NYSE:DEO) ended Tuesday session in red amid volatile trading. The shares closed down -2.48 points or -2.21% at $109.99 with 936,745 shares getting traded. Post opening the session at $111.78, the shares hit an intraday low of $109.84 and an intraday high of $111.89 and the price vacillated in this range throughout the day. The company has a market cap of $68.34 billion and the numbers of outstanding shares have been calculated to be 2.52 billion shares.

Diageo plc (ADR) (DEO) announced that it is changing the name of its U.S. beer business from Diageo-Guinness USA (DGUSA) to Diageo Beer Company USA.  Following several months of strategy work to help best position Diageo’s U.S. beer business for the future, it was decided that the group’s name should convey Diageo’s brewing credentials and commitment to the broad category of premium beer.

“Diageo Beer Company USA will be a forward-thinking premium beer company, rooted in our brewing heritage and focused on brands, customers and consumers,” said Tom Day, President, Diageo Beer Company USA.  “While Guinness will of course continue to play an essential role in our beer portfolio, the new Diageo Beer Company USA name will help highlight the contributions and potential of our other great brands like Smirnoff Ice, Smithwick’s and Harp.”

Shares of Ball Corporation (NYSE:BLL) ended Tuesday session in red amid volatile trading. The shares closed down -0.84 points or -1.06% at $78.38 with 783,437 shares getting traded. Post opening the session at $78.94, the shares hit an intraday low of $77.76 and an intraday high of $79.01 and the price vacillated in this range throughout the day. The company has a market cap of $13.81 billion and the numbers of outstanding shares have been calculated to be 174.23 million shares.

Ball Corporation (BLL) announced an agreement to sell its specialty tin manufacturing facility in Baltimore, Maryland, to U.S.-based Independent Can Company for approximately $25 million.

The transaction is expected to close during the fourth quarter of 2016 and the proceeds are subject to customary closing adjustments.

“We continue to focus on maximizing value and generating positive EVA® dollars in our core businesses,” said Jim Peterson, chief operating officer, food and aerosol packaging. “While parting with dedicated employees is difficult, the Baltimore plant is an ideal complement to ICC’s specialty tin can-focused business and this agreement helps Ball to better align with our strategic focus on food and aerosol packaging.”

 

 

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