Shares of Johnson Controls Inc (NYSE:JCI) ended Friday session in red amid volatile trading. The shares closed down -2.16 points or -4.51% at $45.70 with 12.71 million shares getting traded. Post opening the session at $47.58, the shares hit an intraday low of $45.70 and an intraday high of $47.70 and the price vacillated in this range throughout the day. The company has a market cap of $29.50 billion and the numbers of outstanding shares have been calculated to be 637.75 million shares.
Johnson Controls Inc (JCI) on Sept. 8, 2016 announced its board of directors has approved the previously announced spin-off of its global automotive seating and interiors business. The transaction will result in two independent, publicly traded companies: Johnson Controls International plc and Adient plc. The spin-off is expected to be completed on Oct. 31, 2016.
At the time of the separation, Adient will be the world’s largest global automotive seating supplier, supporting all major automakers in differentiating vehicles through superior quality, technology and performance. Johnson Controls will continue to operate as a global leader in building products and technology, integrated solutions and energy storage.
“Announcement is an important step as Adient continues on its path toward becoming an independent company,” said incoming Adient Chairman and Chief Executive Officer R. Bruce McDonald. “As the market leader in the automotive seating industry, Adient is well-positioned for growth and margin expansion as we commit to reinvesting in the business on a global basis.”
Shares of Nike Inc (NYSE:NKE) ended Friday session in red amid volatile trading. The shares closed down -0.84 points or -1.50% at $55.33 with 11.31 million shares getting traded. Post opening the session at $55.88, the shares hit an intraday low of $55.26 and an intraday high of $56.00 and the price vacillated in this range throughout the day. The company has a market cap of $90.35 billion and the numbers of outstanding shares have been calculated to be 1.35 billion shares.
Nike Inc (NKE) plans to release its first quarter fiscal 2017 financial results on Tuesday, September 27, 2016, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results.
The conference call will be broadcast live over the Internet and can be accessed at http://investors.nike.com. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, October 4, 2016.