Multi-family properties operator $AIV invested $31MM in redevelopment in 1Q16, mostly related to the ongoing redevelopment of The Sterling and Park Towne Place mixed-use communities located in Center City Philadelphia.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.
$TCB said expenses were higher than revenue in 1Q17 due to a
one-time charge. The company believes that for the remainder of 2017, revenue
growth will exceed the expense growth. $TCB is making some investments in
technology initiatives but in general the company is cognizant about managing
expenses in proportion to its revenues.
$KR named Kristal Howard as the new head of Corporate Communications and Media Relations.Ms. Howard will be responsible for national media and corporate communications and will serve as the company's spokesperson.
$BDX agreed to buy $BCR. About $300MM of annual, pre-tax, run-rate cost synergies are expected by FY20. $BDX also expects to benefit from revenue synergies beginning in FY19. This is expected to improve $BDX's gross margins by about 300 basis points in FY18, increase $BDX's EPS growth trajectory to the mid-teens, and generate strong cash flow.
$KMB said that on interest
expense for FY17, the company expects it to come down slightly. The decline is
expected as the company has a refinancing this year along with a bond that is
coming due for $950MM in Aug. 2017. Additionally, regarding share repurchases,
$KMB is expecting to do between $0.8-1Bil worth of share repurchases in FY17.