Industry

Services Stocks Worth Chasing: Tiffany & Co. (TIF), CBS Corporation (CBS)

Tiffany & Co. (TIF) ended last trading session with a change of 0.17 percent. It trades at an average volume of 1.9M shares versus 1.97M shares recorded at the end of last trading session. The share price of $88.86 is at a distance of 57.77 percent from its 52-week low and down -4.18 percent versus its peak. The company has a market cap of $11.03B and currently has 124.12M shares outstanding. The share price is currently 1.1 percent versus its SMA20, 7.82 percent versus its SMA50, and 22.38 percent versus its SMA200. The stock has a weekly performance of -1.17 percent and is 14.76 percent year-to-date as of the recent close.

February 17, 2017 — The Board of Directors of Tiffany & Co. (TIF) has declared a regular quarterly dividend of $0.45 per share of Common Stock. The dividend will be paid on April 10, 2017 to shareholders of record on March 20, 2017. Future dividends are subject to declaration by the directors.

Tiffany is the internationally-renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations. For additional information, please visit www.tiffany.com or call our shareholder information line at 800-TIF-0110.

CBS Corporation (CBS) recently recorded 0.74 percent change and currently at $67.91 is 39.71 percent away from its 52-week low and down -0.73 percent versus its peak. It has a past 5-day performance of 0.15 percent and trades at an average volume of 3.86M shares. The stock has a 1-month performance of 5.76 percent and is 7.03 percent year-to-date as of the recent close. There were about 449.46M shares outstanding which made its market cap $30.52B. The share price is currently 2.11 percent versus its SMA20, 4.79 percent versus its SMA50, and 17.95 percent versus its SMA200.

March 2, 2017 — CBS Corporation (CBS) Entercom Communications Corp. (ETM) and CBS Radio Inc. (“CBS Radio”) announced that CBS Radio has established pricing for a seven-year, $500 million senior secured term loan B to be issued in connection with their previously announced merger. The loan will have an interest rate of LIBOR plus 2.75%, with no LIBOR floor, and will be issued at par.

The new term loan will be issued to refinance Entercom’s capital structure, with proceeds used to repay its existing term loan and redeem its preferred stock, as well as pay transaction fees and expenses. CBS Radio’s credit facility is being amended to include the new term loan, which is expected to be funded at the closing of the merger. That transaction is expected to close during the second half of 2017, subject to the approval of Entercom shareholders, certain regulatory approvals, and other customary closing conditions.

 

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