Boston, MA 05\/29\/2014 (wallstreetpr) \u2013 CVS Caremark Corporation (NYSE:CVS)<\/b> will forfeit $2 billion in future revenue following its decision to exit tobacco business for good. According to CEO Larry Merlo and other company officials, selling of tobacco products contradicts the company’s commitment to the health of its customers. Analysts and pundits believe that the deft move by CVS to exit the tobacco for good may herald a trend in the industry especially when tobacco smoking continues to be painted in a bad light.<\/p>\n
The board of CVS Caremark Corporation (NYSE:CVS) approved the move to abandon the selling of tobacco products by the company. Although the company’s bold move would deny it tobacco revenue, CVS expects to compensate for that in its other businesses.<\/p>\n
Synaptics, Incorporated (NASDAQ:SYNA)<\/b> is reportedly in talks to acquired the Japanese chipmaker Renesas Electronics Corp\u2019s chip unit. The Japanese company makes power-saving chips used in smartphones and tablets. Synaptics could pay about $1 billion to acquire the business.<\/p>\n
Apple Inc (NASDAQ:AAPL)<\/b> was last month rumored to be circling the same business for a purchase as it seeks to bring important smartphone components under its control. The business, Renesas SP Divers, is owned 55 percent by Renesas and 45 percent is owned by Powerchip Technology Corp of Taiwan and Sharp Corp of Japan.<\/p>\n
Synaptics, Incorporated (NASDAQ:SYNA) is registering success in its business despite market challenges. The company posted earnings per share of 63 cents in its 3Q2014 financial report that was released late last month. Analysts expected earnings of 57 cents per share for the quarter. Revenue for the quarter touched $204.30 million, ahead of the consensus estimate at $192.03 million. Although EPS plunged on a year-over-year basis, revenue jumped more than 25 percent.<\/p>\n
KBR, Inc. (NYSE:KBR)<\/b> announced winning a contract by Gulf LNG Liquefaction Company (GLLC) for front-end engineering and design (FEED). GLLC is an affiliate of Gulf LNG Energy (GLE). KBR will book revenue from the contract in its 2Q2014 backlog for the unfilled orders under the Gas Monetization segment. The company reported EPS of 18 cents, against the consensus estimate of 91 cents in its last financial reporting.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/29\/2014 (wallstreetpr) \u2013 CVS Caremark Corporation (NYSE:CVS) will forfeit $2 billion in future revenue following its decision to exit tobacco business for good. […]<\/p>\n","protected":false},"author":32,"featured_media":19067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1949,3224,3824,1950,3226,3823],"stock_ticker":[],"class_list":["post-23985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cvs-caremark-corporation-nysecvs","tag-kbr-inc-nysekbr","tag-nasdaqsyna","tag-nysecvs","tag-nysekbr","tag-synaptics-incorporated-nasdaqsyna","entry"],"acf":[],"yoast_head":"\n