U.S. Stocks See Significant Gains as the Year End Nears - Company Announces Dividend to its Shareholders
CORAL SPRINGS, Florida, December 17, 2013 /PRNewswire/ --
U.S. stocks trend upward as 2013 nears its end: Muscle Warfare International, Inc (OTC: MWAR), Herbalife Ltd. (NYSE: HLF), GNC Holdings, Inc. (NYSE: GNC), LSI Corporation (NASDAQ: LSI), Starbucks Corporation (NASDAQ: SBUX) and Facebook, Inc. (NASDAQ: FB).
Muscle Warfare International, Inc (OTC: MWAR) today announced that its Board of Directors has approved a dividend of its common stock to its shareholders. All shareholders of MWAR owning common shares on the record date of December 31, 2013 shall receive two (2) shares of MWAR common stock for every share held by such a shareholder. For example, if a shareholder owns 10,000 shares of MWAR common stock at the close of business on December 31, 2013, that shareholder shall receive 20,000 additional shares of MWAR common stock.
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MWAR management stated that the Board approved this stock dividend to reward the loyalty and patience the shareholders have shown as the Company has developed its business plan from concept to operations.
Herbalife Ltd. (NYSE: HLF) announced that PricewaterhouseCoopers LLP, Herbalife's independent registered public accounting firm ("PwC"), has completed its re-audit of the Company's consolidated financial statements for the fiscal years ended December 31, 2010, 2011 and 2012, and the audit of the effectiveness of the Company's internal control over financial reporting as of December 31, 2012. Today, the Company filed an amended 10-K/A for the fiscal year ended December 31, 2012, following the completed re-audit of the Company's 2010, 2011 and 2012 financial statements. Additionally, the Company today filed amended 10-Q/As for each of these quarters of 2013 following the completion of SAS 100 reviews of those periods by PwC. With these amended filings, the Company is now up to date with its SEC periodic filings.
GNC Holdings, Inc. (NYSE: GNC) a leading global specialty retailer of health and wellness products, recently announced its Board of Directors has authorized a multi-year program to repurchase up to an aggregate $500 million of the Company's Class A common stock. The authorization is effective immediately. The Company may finance any repurchases with cash, potential financing transactions, or a combination of the foregoing. All previous share repurchase authorizations have been completed. The Company also increased its Term Loan to $1,350 million. Under the new terms, the maturity date was extended by one year to March 2019. The loan bears interest at a rate per annum equal to the greater of the sum of the applicable Adjusted LIBO Rate and 0.75% plus the applicable margin of 2.50%. The previous terms were for a rate equal to the sum of the greater of the applicable Adjusted LIBO Rate and 1.00% plus the applicable margin of 2.75%. In connection with this repricing, lenders will receive a 1% premium if the Company consummates a "repricing transaction" within six months.
LSI Corporation (NASDAQ: LSI) designs, develops, and markets storage and networking semiconductors worldwide. Its storage product portfolio includes hard disk, solid state, and tape drive solutions, which enable the reading and writing of digital data to and from the storage media, such as the hard disk drive platter or the flash memory cell; server and storage connectivity solutions, which facilitate secured data transfers between host systems, such as servers and storage devices; and custom storage solutions that enable high speed storage data communication between servers and external storage systems over a switched storage network, such as a fiber channel storage area network. The company's networking portfolio comprises solutions for multi-service wired and wireless access systems found in carrier networks, as well as solutions typically used in small office, home office, and small-to-medium business applications. Its networking solutions include communication processors, network processors, media processors, content-inspection processors, and physical layer devices, as well as software tools and segment specific applications, evaluation systems, and reference designs. The company also designs and sells enterprise networking devices for applications, such as Ethernet switches and routers. Its networking products are used in the wireless infrastructure, enterprise, and data center markets. The company sells its products to original equipment manufacturers in the server, storage, and networking industries, as well as through a network of resellers and distributors. LSI closed up 38.56% on Monday afternoon on over 204 million shares traded.
Starbucks Corporation (NASDAQ: SBUX) issued the following statement from its chairman, president and ceo Howard Schultz commending the U.S. House of Representatives for passing a bipartisan, two-year federal budget. "I want to commend our elected leaders in the U.S. House of Representatives for putting aside their partisan differences and achieving an important, while not perfect, budget agreement. This deal provides important stability to our economy at a critical time for all Americans, and avoids another disastrous shut-down or default. Citizens simply cannot afford a repeat of the past, and this action restores some needed confidence in our future. The bipartisan leadership of U.S. Senator Patty Murray (D-WA) and U.S. Representative Paul Ryan (R-WI) demonstrates what is possible when we come together with civility and for a common purpose to serve the greater good of the country. The Senate should follow their lead and pass this budget."
Facebook, Inc. (NASDAQ: FB) operates as a social networking company worldwide. It builds various tools that enable users to connect, share, discover, and communicate with each other on mobile devices and computers. The company's Facebook Platform is a set of development tools and application programming interfaces that enables developers to integrate with Facebook for creating social apps and Websites. As of December 31, 2012, it had 1.06 billion monthly active users and 618 million daily active users. The company has a strategic partnership with Trend Micro Inc. for educating and protecting users' digital lives against malicious sites and malware. FB closed up .92% on Monday afternoon on over 84 million shares traded.
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