Hot Moves to Watch: Intel Corporation, (NASDAQ:INTC), Ally Financial, (NYSE:ALLY), The Manitowoc Company, (NYSE:MTW)
On Thursday, Shares of Intel Corporation (NASDAQ:INTC), lost -1.96% to $34.03.
Intel is selling Stonesoft, the Finnish cybersecurity company it bought two years ago for $389 million, to Raytheon-Websense, in a deal that could be declared as soon as Thursday, sources said. The unit is known for its computer firewall products, according to Fortune.
This would seem to signify a noteworthy realignment for Intel, which started building out its security software porfolio in earnest when it paid nearly $7.7 billion for McAfee five years ago. Earlier this year it rebranded the McAfee unit as Intel Security.
Raytheon RTN -0.21% , the defense industry giant, bought Websense for $1.9 billion in April as part of its $3.5 billion bid to become a cybersecurity super power. Raytheon-Websense is now actually a joint venture 80% owned by Raytheon, the rest by Vista Equity Partners.
A Raytheon spokesman had no comment for this story and Intel reps did not respond to requests for comment. FortuneReports
Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. It operates through PC Client Group, Data Center Group, Internet of Things Group, Mobile and Communications Group, Software and Services, and All Other segments. The company’s platforms are used in various computing applications comprising notebooks, desktops, servers, tablets, smartphones, wireless and wired connectivity products, wearables, transportation systems, and retail devices.
Shares of Ally Financial Inc. (NYSE:ALLY), declined -4.11% to $19.85, during its last trading session.
Ally Financial Inc. stated a 37 percent fall in quarterly profit as it adapts to lost leasing business from General Motors, according to Reuters.
Net income fell to $268 million, or 47 cents per share, in the third quarter ended Sept. 30 from $423 million, or 74 cents per share, a year earlier. Last years third-quarter numbers comprised $130 million in income from exiting a joint venture in China and a one-time tax benefit from the sale of mortgage servicing operations.
The company has been trying to boost its market share by financing cars made by Ford Motor Co and Nissan Motor Co Ltd after General Motors Co replaced Ally as the exclusive lessor for Buick, GMC and Cadillac vehicles in February. Reuters Reports
Ally Financial Inc. provides financial products and services primarily to automotive dealers and their customers in the United States. It offers dealer financial services, counting a range of financial services and insurance products to automotive dealers and retail customers.
Finally, Shares of The Manitowoc Company, Inc. (NYSE:MTW), ended its last trade with -0.07% loss, and closed at $14.89.
The Manitowoc Company, on Wednesday stated third-quarter profit of $4.8 million, according to AP.
The Manitowoc, Wisconsin-based company said it had profit of 3 cents per share. Earnings, adjusted for one-time gains and costs, came to 9 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The maker of cranes and restaurant equipment posted revenue of $863.5 million in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks predictable $868.1 million. AP Reports
The Manitowoc Company, Inc. designs, manufactures, and sells cranes and related products, and foodservice equipment worldwide. The Cranes and Related Products segment offers lattice-boom cranes, counting crawler and truck mounted lattice-boom cranes, and crawler crane attachments; tower cranes comprising top slewing, luffing jib, topless, and self-erecting tower cranes; mobile telescopic cranes, such as rough terrain, all-terrain, truck mounted, and industrial cranes; and boom trucks comprising telescopic boom trucks under the Manitowoc, Potain, Grove, National Crane, and Shuttlelift brands.