Corporate Finance

Finance Roundup for Executives: April 25, 2016

Be informed, get involve, and shape the world through finance: Read's most recent headlines and standout stories.
Kerry MarunaApril 25, 2016

Standout Stories

Risk at the NRA… “It’s such a significant part of what we’re doing for the future,” Emily Cummins, the risk manager of the National Rifle Association, says, enthusiastically describing the NRA’s charitable gift annuity program.

The focus of the NRA “is always on training, education, and safety of the next generation: the grandparents taking their grandkids out to learn to shoot safely and responsibly and to love the outdoors,” she said in an interview at the recent Risk and Insurance Management Society conference in San Diego.

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Cummins, whose actual title is managing director of tax and risk management, began working on the NRA’s annuity when she was assistant vice president and planned giving adviser at Wachovia before the bank was acquired by Well Fargo in 2008. Read article.

CFOs on the move… Yelp has appointed Charles (Lanny) Baker to the top finance spot, effective May 9. Previously president and CEO of ZipRealty, he’s also a former CFO of that company, as well as of Monster Worldwide.

Gunther Plosch will join The Wendy’s Co. on May 2 and will become head of finance after a transitional period. He takes over for Todd Penegor, who is expected to become CEO upon the retirement of Emil Brolick at the end of May. Most recently, Plosch was vice president of global business services at Kellogg. See all…


Alphabet Stock Tumbles 6% on Earnings Miss

Adjusted net income rose nearly 16% to $7.50 per share, but analysts were expecting earnings of $7.97 per share.


Managing Risks at the National Rifle Association

The NRA’s risk manager is a true believer in the gun lobby’s mission.


GE’s Core Revenue Climbs 6% to $25.8B

The company is facing challenges in its oil and gas business but renewable energy revenues grew 62%.


CFOs on the Move: Week Ending April 22

Yelp, Wendy’s, Xcel Energy, Vice Media, Innophos Holdings, Chassix, Lindsay, Quantum, Pacira Pharmaceuticals, Acacia Realty Trust,


VW Posts $6B Loss on Emissions Scandal Costs

The loss reflects VW’s writedown of $18.2 billion for costs related to the scandal and analysts predict the final number could reach $32 billion.


McDonald’s Continues Double-Digit EPS Growth

The popularity of McDonald’s all-day breakfast menu and the McPick 2 promotion fueled a 5.4% increase in U.S. same-store sales.


Microsoft Stock Falls as Cloud Growth Slows

The shares had their worst day since January 2015 after the company reported revenue from cloud computing did not offset weak PC and phone sales.


Chinese Group to Acquire Lexmark for $3.6B

The printer company had been exploring strategic alternatives as it struggled with the digitalization of the workplace.


AmEx’s Q1 Profit Falls, But Cardholders Spend More

AmEx also added roughly 5.4 million new credit card accounts in the U.S., helping revenue to rise 2% to $8.09 billion.


GM’s Q1 Profit Beats Expectations

Strong sales growth in the United States and China helped GM gain market share and report a 47% increase in profit.


Blackstone Profits Plunge

‘The market tantrum in the first part of the year resulted in lots of dislocation,’ said CEO Stephen Schwarzman.


SunEdison’s Buying Spree Ends in Chapter 11

The bankruptcy petition listed assets of $20.7 billion and liabilities of $16.1 billion as of Sept. 30.


SecureWorks to End Long Tech IPO Drought

The shares are expected to price at the low end of the target range of $15.50 to $17.50.


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