Notable Stocks in the Spotlight: General Electric Company, (NYSE:GE), First Niagara Financial Group, (NASDAQ:FNFG), NorthStar Asset Management Group, (NYSE:NSAM)

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On Monday, Shares of General Electric Company (NYSE:GE), gained 1.59% to $29.38.

General Electric Company, declared that it has accomplished the acquisition of Alstoms power and grid businesses. The completion of the transaction follows the regulatory approval of the deal in over 20 countries and regions counting the EU, U.S., China , India , Japan and Brazil . It is GEs largest-ever industrial acquisition.

GE reached a contract with Alstom in 2014 to purchase Alstoms power and grid businesses for €12.35 billion.  Adjusting for the joint ventures declared in June 2014 (renewables, grid, and nuclear), changes in the deal structure, price adjustments for remedies, net cash at close, and counting the effects of currency, the purchase price is €9.7B (about $10.6B ). This comprises working capital usage of about €0.6B in the month of October.  GE anticipates the deal to generate $0.05-0.08 of earnings per share in 2016 and $0.15-0.20 of earnings per share by 2018.  GE is targeting $3.0 billion in cost synergies in year five and strong deal returns.  The overall economics and planned rationale remain the same as GE declared in April 2014 .

Customers will realize immediate benefit from the combination of GE and Alstom, counting these current projects:

  • PSEG Sewaren ( New Jersey combined cycle power plant): GE 7HA gas turbine + Alstom heat recovery steam generator (HRSG)
  • Punjab Pakistan Bhikki ( Pakistan combined cycle power plant): two GE 9HA gas turbines + Alstom steam turbine
  • Exelon Power Plants ( Texas power projects): four GE 7HA gas turbines + four Alstom HRSGs
  • Chempark (Leverkusen, Germany combined heat and power project): GE 9HA gas turbine.

General Electric Company (GE) is a diversified infrastructure and financial services company. The products and services of the Company range from aircraft engines, power generation, oil and gas production equipment, and household appliances to medical imaging, business and consumer financing and industrial products.

Shares of First Niagara Financial Group Inc. (NASDAQ:FNFG), inclined 1.84% to $10.54, during its last trading session.

KeyCorp (KEY) and First Niagara Financial Group  (FNFG) declared that they have reached a definitive agreement under which KeyCorp will acquire First Niagara in a cash and stock transaction for total consideration valued at about $4.1 billion.

First Niagara, headquartered in Buffalo, N.Y., has $39 billion in assets and $29 billion in deposits and 394 banking offices in New York, Pennsylvania, Connecticut and Massachusetts.  With about $135 billion of assets, the combined bank will be the 13th largest commercial bank headquartered in the U.S.

The combination will create a leading regional bank with improved scale to serve three million clients across diverse markets in the Northeast, Mid-Atlantic, Midwest and Pacific Northwest.  The acquisition will make KeyCorp a leading bank in Upstate New York, with a strong market presence in Buffalo, Albany, Syracuse and Rochester.  KeyCorp will also expand its operations to attractive markets throughout Pennsylvania, Massachusetts and Connecticut.

First Niagara Financial Group, Inc. is a bank holding company. The Company provides a range of retail and commercial banking, in addition to other financial services through its wholly owned bank partner, First Niagara Bank, N.A. (the Bank). The Bank is a nationally chartered regional bank providing financial services to individuals, families and businesses.

Finally, Shares of NorthStar Asset Management Group Inc (NYSE:NSAM), ended its last trade with 2.46% gain, and closed at $14.99.

NorthStar Realty Finance Corp. and NorthStar Realty Europe Corp. jointly declared the successful completion of the spin-off of NRE, NorthStar Realtys European real estate business. NorthStar Realty also declared the effectiveness of its formerly declared one-for-two reverse stock split.  Starting with the opening of trading recently, NorthStar Realtys common stock will trade on the New York Stock Exchange (NYSE) on a split-adjusted basis under the ticker symbol NRF and will have a new CUSIP number (66704R 803) and NRE will start regular trading recently on the NYSE under the ticker symbol NRE.  In addition, NRE will be added to the MSCI U.S. REIT Index (RMZ), effective as of the close of the market recently, November 2, 2015.

David T. Hamamoto, Chairman, commented, We are happy with the completion of the spin-off of NRE as a separately traded public company. NRE presently has a portfolio of high-quality predominately office properties located across top European markets, counting London, Paris and Frankfurt and we believe it is well-positioned for continued strong growth with the pipeline of opportunities we are seeing across Europe. We remain focused on seeking additional opportunities to further unlock value for our stockholders.

Northstar Asset Management Group Inc. is an asset administration company. The Company is focused on managing real estate and other investment platforms in the United States and internationally. The Company owns NorthStar Realty Securities, LLC (NorthStar Securities), which is a captive broker-dealer platform and raises capital in the retail market for its sponsored companies.

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