Stocks Down Slightly: BMS, SLGN, UL; Gold Futures Up: ANV, AU, GFI, SBGL, ABX

Technology Stocks News 9

Bemis Co. (NYSE:BMS) said it will close its plant in Stow, Ohio, which is one of its Pressure Sensitive Materials manufacturing facilities, resulting in the loss of about 115 jobs.

The company said it will take a pretax charge of about $30 million in 2014 related to the closure, which includes costs related to the settlement of a multi-employer pension liability, employee severance and benefit costs.

The manufacturing facility had 2013 annual net sales of approximately $45 million.

Bemis Co. (NYSE:BMS) was down 0.5% at $39.07 in recent trading, in a 52-week range of $37.01 to $42.34.

Silgan Holdings (NASDAQ:SLGN), a supplier of rigid packaging for shelf-stable food and other consumer-goods products, said Monday its board authorized the repurchase of up to an aggregate of $300 million of the company’s common stock, inclusive of prior authorizations.

The authorization is effective through Dec. 31, 2019.

Silgan Holdings (NASDAQ:SLGN) shares were up 0.4% at $48.42 in recent trading shortly after the open, within a 52-week range of $42.44 to $50.51.

Unilever (NYSE:UL) is looking to sell its Ragu pasta-sauce brand for up to $2 billion, Bloomberg reported Monday, citing people familiar with the matter.

Unilever (NYSE:UL) was down 1.5% at $40.42 in early Monday trading within a 52-week range of $37.40 to $43.88. UN, meanwhile, was down 1.6% at $38.94, in a 52-week range of $36.57 to $42.99.

Gold miners received upside momentum Monday morning, tracking the price of gold.   Gold futures were up about 2% in early trading, as tensions between Russia and Ukraine have increased demand for the metal as a safety investment.   Miners that joined in the rally include Allied Nevada Gold (NYSEMKT:ANV, ANV.TO), AngloGold Ashanti (NYSE:AU), Gold Fields Ltd. (NYSE:GFI), Sibanye Gold (NYSE:SBGL), and Barrick Gold Corp (NYSE:ABX, ABX.TO).

Signup for free to be the first to receive exclusive free links. Now in your mailbox!
Join over 15,000 subscribers
Send me links

Your information will not be shared to anyone