Shares of Apple Inc. (NASDAQ:AAPL) ended Thursday session in green amid volatile trading. The shares closed up +0.63 points or 0.59% at $106.73 with 26.70 million shares getting traded. Post opening the session at $106.14, the shares hit an intraday low of $105.62 and an intraday high of $106.80 and the price vacillated in this range throughout the day. The company has a market cap of $575.65 billion and the numbers of outstanding shares have been calculated to be 5.39 billion shares.
On August 17, 2016 Apple® announced a significant commitment by major supplier Lens Technology to run its Apple operations on entirely renewable energy. This unprecedented commitment, combined with zero waste compliance from all final assembly sites, furthers Apple’s efforts to help manufacturers lower their carbon footprint and reduce waste in China, helping to advance China’s transition to a new green economy.
Lens Technology has committed to power all of its glass production for Apple with 100 percent renewable energy by the end of 2018, as part of Apple’s industry-leading supply chain clean energy program announced last year. Lens is the first supplier to make a clean energy commitment for all of its Apple production, and will meet its goal through an unprecedented power purchase agreement with local wind projects.
Apple is working with suppliers to help transform the environmental landscape in China, and is proud to announce all 14 of its final assembly sites in China are now compliant with UL’s Zero Waste to Landfill validation. The UL standard certifies all of their manufacturing waste is reused, recycled, composted, or, when necessary, converted into energy. Since the program began in January 2015, the sites have diverted more than 140,000 metric tons of waste from landfills.
“We want to show the world that you can manufacture responsibly and we’re working alongside our suppliers to help them lower their environmental impact in China,” said Lisa Jackson, Apple’s vice president of Environment, Policy and Social Initiatives. “We congratulate Lens for their bold step, and hope by sharing the lessons we’ve learned in our transition to renewable energy, our suppliers will continue to access clean power projects, moving China closer to its green manufacturing goals.”
Shares of Procter & Gamble Co (NYSE:PG) ended Thursday session in green amid volatile trading. The shares closed up +1.00 points or 1.15% at $88.31 with 29.79 million shares getting traded. Post opening the session at $87.36, the shares hit an intraday low of $86.98 and an intraday high of $88.31 and the price vacillated in this range throughout the day. The company has a market cap of $235.11 billion and the numbers of outstanding shares have been calculated to be 2.67 billion shares.
Procter & Gamble Co (PG) on September 1, 2016 announced the commencement of an exchange offer for the separation of its global fine fragrances, salon professional, cosmetics and retail hair color businesses, along with select hair styling brands (collectively referred to as “P&G Specialty Beauty Brands”).
This represents the next step in the proposed tax-efficient Reverse Morris Trust transaction with Coty Inc. (COTY) announced on July 9, 2015. In the proposed split-off transaction, P&G will transfer the assets and liabilities of P&G Specialty Beauty Brands, other than specified excluded brands, to Galleria Co., a wholly owned subsidiary of P&G created to facilitate the transaction. Following completion of the exchange offer, Galleria Co. will merge with a wholly owned subsidiary of Coty and become a wholly owned subsidiary of Coty.
The exchange offer provides P&G shareholders with the opportunity to exchange their shares of P&G common stock for shares of Galleria Co. common stock, which will convert into shares of Coty class A common stock upon completion of the merger. The exchange and the merger are expected to be tax-free to participating P&G shareholders for U.S. federal income tax purposes.