Stock Making Headlines:DaVita HealthCare Partners Inc (DVA), CAE Inc. (USA) (CAE), Ituran Location and Control Ltd. (US) (ITRN)
New York, NY – GDP INSIDER – 12/15/2014.
DaVita HealthCare Partners Inc (NYSE:DVA) announced that two of its units that currently operate separately will merge. The provider of health care communities said DaVita Clinical Research and HealthCare Partners Clinical Research will consolidate in a merger, according to the release. The consolidation is expected to lead to great benefits for the company, its customers, and shareholders.
DaVita HealthCare Partners Inc (NYSE:DVA) expects the combined entity of the two units to improve customer services and help with cost savings. Such tweaks are expected to help the company to improve its performance while reducing its cost burdens.
The company surpassed Wall Street expectations in the most recent quarter. It generated $3.25 billion in revenue for the quarter yet analysts predicted $3.19 billion. Revenue was up 8.4% from the same quarter a year earlier.
CAE, Inc. (USA) (NYSE:CAE) is a having a great fiscal 2015. The company announced that it won various defense contracts for its 3Q2015 valued above C$115 million, according to a report on NASDAQ. The contracts involve the supply of various simulation products and support solutions. The customers in the latest defense deals include German Army Aviation School and Polish Air Force.
The defense contracts are expected to help CAE, Inc. (USA) (NYSE:CAE) improve its revenue in the current quarter. The company also hopes to tap deals of a similar nature to continue boosting its defense revenue.
CAE, Inc. (USA) (NYSE:CAE) intends to pay a quarterly dividend of $0.07 per share on Dec. 31.
Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) announced that a court in Brazil has dismissed an appeal against it by the revenue authority of the state of Sao Paulo. The Administrative Court in the state sided with the company over the tax deficiency issue that Sao Paulo raised. The revenue administration of Sao Paulo raised some tax deficiency issues against a subsidiary of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN).
The matter of tax deficiency has been a major legal overhang for the company, even costing it large sums of money. With the issue struck out by the Administrative Court, Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) it was pleased with the development.
The development is also expected to help the company thwart tax accusations of a similar nature in Brazil. Additionally, resources that went into the legal matter over the tax issue can now be channeled to other productive activities.
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