Financial Stocks Newsbeat= Morgan Stanley (NYSE:MS), Synchrony Financial (NYSE:SYF)

Morgan Stanley (MS) declared that they have accomplished an investment in Fisher Container (“Fisher” or the “Company”). MSCP is partnering with practiced plastics and packaging executive, Kevin Keneally, and the current Fisher administration team to acquire the Company.

Fisher, headquartered in Buffalo Grove, IL, is a leading manufacturer of innovative and technical flexible packaging products, mainly for the cleanroom, food and industrial end markets. The Company prints and converts flexible plastic pouches, bags and films. Fisher Container is a third generation family business, founded by Don Fisher in 1969.

Don Fisher said, “I am very proud of our family business and have taken great care to find the best partner to take it forward. I have come to know the MSCP team well and am confident that they bring the skills, capabilities, and approach necessary to build and expand on our success.” Kevin Keneally will become Chief Executive Officer as part of the transaction and will replace Don Fisher, who will be retiring.

“MSCP has a long history of working with differentiated founder-owned companies that have a strong culture, and we are excited to partner with Fisher Container,” said Eric Kanter, Managing Director of Morgan Stanley Capital Partners. “We would like to thank Don Fisher for his steadfast commitment and numerous contributions to the company. Because of his leadership, we believe Fisher is well-positioned with attractive capabilities and should be able to capitalize on noteworthyorganic and acquisition-oriented growth opportunities.”

Synchrony Financial (SYF) recently declared fourth quarter 2016 net earnings of $576 million, or $0.70 per diluted share.

  • Net interest income raised 13% from the fourth quarter of 2015 to $3.6 billion
  • Loan receivables grew $8 billion, or 12%, from the fourth quarter of 2015 to $76 billion
  • Purchase volume raised 9% from the fourth quarter of 2015
  • Strong deposit growth continued, up $9 billion, or 20%, over the fourth quarter of 2015
  • Launched Fareportal program
  • Declared a new multi-year agreement with Henry Schein Financial Services, LLC
  • Quarterly common stock dividend payment of $0.13 per share and repurchased $238 million of Synchrony Financial common stock

“We are happy with the noteworthyprogress we made in 2016. We generated strong organic growth across our sales platforms which resulted in noteworthyrevenue growth, substantial operating leverage, and attractive returns. We also signed and renewed several key relationships, expanded our network, continued to drive digital innovations and analytics capabilities, and supported our business with robust growth in our direct deposit platform. We did this while maintaining a strong balance sheet and returning capital to shareholders through growth and the execution of our initial capital plan which included dividends and share repurchases,” said Margaret Keane, President and Chief Executive Officer of Synchrony Financial. “As we look to 2017, we believe our planned focus and partner-centric business model position us well for future opportunities and continued growth.”

 

 

 

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