Business

Panera Bread approves $500 Million in New Debt to Fund Buyback Program

Panera Bread approves $500 Million in New Debt to Fund Buyback Program

Panera Bread management has permitted $500 million in new debt with a purpose to fund a buyback program after engaging in a constructive dialogue with activist hedge fund Luxor Capital Group.

When the company made announcement that it has increased the buyback program to $750 million, the stock jumped as investors picked up the stock. The company has plans to buy back $500 million in shares with cash on hand, cash flow, and the new debt over the next year.

Dominion Purchases Richard Solar Center

Dominion Purchases Richard Solar Center

On Wednesday, Dominion announced that it is going to acquire Richard Solar Center located in Twiggs County, Georgia. Dominion will acquire the facility from HelioSage Energy.

The 20-megawatt solar facility in Georgia is expected to enter service in 2015. The company has also secured a 20-year power purchase agreement and interconnection agreements with Georgia Power. Not only this, the company has also signed an engineering, procurement and construction contract.

UnitedHealth Group delivers its best quarter in years

UnitedHealth Group delivers its best quarter in years

On Thursday, UnitedHealth Group delivered its best quarterly results in years as it received benefits from new ObamaCare customers. It also raised its full-year 2015 sales and earnings guidance.

The nation's No. 1 health insurer has logged first-quarter earnings of $1.46 per share, up 33% vs. compared to year earlier. The net profit was much higher than analyst estimates for $1.35. The company registered 13% gain in revenue to $35.76 billion, topping views for $34.6 billion.

Yahoo changes could make Tumblr less independent

Yahoo changes could make Tumblr less independent

In the social media world, new parent companies release statements whenever acquisitions take place, declaring that nothing will change. But previous incidences show that it hasn’t often been the case.

Although Tumblr has been part of the Yahoo network for two years, it has largely remained true to its users. But, there are rumors floating that there may be some staff shuffling between Tumblr and Yahoo, which could result in few changes for Tumblr service as well.

Delivery Company Eaze raises over $10 million in funding

Delivery Company Eaze raises over $10 million in funding

Fresh VC, 500 Startups, DCM Ventures and rapper Snoop Dogg’s Casa Verde Capital helped Eaze in raising more than $10 million in funding. ‘Young, Wild & Free’ star, Snoop Dogg, is a renowned weed aficionado. He is also a supporter of Eaze, which helps patients receive medical marijuana easily. The company connects medical marijuana patients with local dispensaries in many states. It operates in states where it is legal to sell the drug.

Unilever reports stronger than expected First Quarter Sales Growth

Unilever reports Estimate-Beating First Quarter Sales Growth

On Thursday, consumer goods major Unilever said that it has witnessed better than expected sales for the first quarter. The company said that sales increased 2.8% during the quarter.

On an average, analysts were expecting a gain of 2.1%. In January, the Anglo-Dutch maker of Dove soap, Lipton tea and Ben & Jerry's ice cream predicted the gain to be between 2 and 4% in 2015. It forecasted the first quarter sales to be at the low end of the range.

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