Shares of Metlife Inc (NYSE:MET) ended Wednesday session in green amid volatile trading. The shares closed up +1.12 points or 2.50% at $45.99 with 9.42 million shares getting traded. Post opening the session at $45.12, the shares hit an intraday low of $45.04 and an intraday high of $46.18 and the price vacillated in this range throughout the day. The company has a market cap of $51.11 billion and the numbers of outstanding shares have been calculated to be 1.10 billion shares.
Metlife Inc (MET) announced that Brighthouse Financial, Inc. filed a Registration Statement on Form 10 with the U.S. Securities and Exchange Commission (the “SEC”). The filing of the Form 10 is an important step in MetLife’s plan to separate into two independent publicly traded companies. The filing provides information on the strategy and historical financial data of Brighthouse Financial and will be updated with additional information in subsequent amendments as the SEC reviews it.
The Form 10 reflects MetLife’s current plan to initiate the separation of Brighthouse Financial in the form of a spin-off. While MetLife and Brighthouse Financial are currently preparing for a spin-off transaction, the ultimate form and timing of a separation will be influenced by a number of factors, including regulatory considerations and economic conditions. MetLife continues to evaluate and pursue structural alternatives for the planned separation, including different forms of spin-off, a public offering of shares in an independent, publicly traded company, or a sale. The first step in the separation transaction is expected to take place in the first half of 2017. In conjunction with the Form 10, MetLife filed a Form 8-K with the SEC that includes additional financial information concerning MetLife related to the planned separation.
Shares of Paypal Holdings Inc (NASDAQ:PYPL) ended Wednesday session in red amid volatile trading. The shares closed down -0.34 points or -0.83% at $40.44 with 6.13 million shares getting traded. Post opening the session at $40.95, the shares hit an intraday low of $40.40 and an intraday high of $40.95 and the price vacillated in this range throughout the day. The company has a market cap of $49.04 billion and the numbers of outstanding shares have been calculated to be 1.21 billion shares.
Paypal Holdings Inc (PYPL) operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. It enables businesses of various sizes to accept payments from merchant Websites, mobile devices, and applications, as well as at offline retail locations through a range of payment solutions, including PayPal, PayPal Credit, Braintree, Venmo, and Xoom products. The company’s platform allows customers to pay and get paid, transfer and withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies. PayPal Holdings, Inc. was founded in 1998 and is headquartered in San Jose, California.