Orlando, FL -- (SBWIRE) -- 08/19/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Boston Scientific Corporation (NYSE:BSX), Itau Unibanco Holding SA (ADR)(NYSE:ITUB).
Boston Scientific Corporation (NYSE:BSX) shares gained 0.55% to $11.06. The company on August 13 completed a public offering of $1.05 billion aggregate principal amount of its senior notes under the company's shelf registration statement. The public offering consists of $600 million of 2.650% notes due October 1, 2018 and $450 million of 4.125% notes due October 1, 2023.
The company previously announced that it intends to use the net proceeds from the offering, together with borrowings under its recent $400 million term loan facility, to redeem all or a portion of its (i) 5.450% notes due June 15, 2014, of which $600 million aggregate principal amount was outstanding as of the date hereof (the "June 2014 Notes"), and (ii) 4.500% notes due January 15, 2015, of which $850 million aggregate principal amount was outstanding as of the date hereof (the "January 2015 Notes"), and to pay related fees, expenses and premiums.
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Itau Unibanco Holding SA (ADR)(NYSE:ITUB) shares decreased 4.53% to $12.22. The company said on August 16 it had received a fine in June from Brazilian tax authorities charging 18.7 billion reais ($7.98 billion) in back taxes related to the 2008 merger that made it Brazil's largest bank by market value. Itaú is appealing the decision and its lawyers see a "remote" risk of losing the appeal, according to a securities filing.
Additionally, the company on July 30 said margins probably thinned to their narrowest levels in the second quarter, a sign that Brazil's largest bank by market value will be able to bolster revenue without speeding up disbursements significantly.
The company said its adjusted earnings totaled 3.622 billion reais ($1.59 billion), above the 3.616 billion reais estimate in a Thomson Reuters poll of eight analysts. Recurring profit rose 3 percent from the previous quarter and 0.9 percent from a year earlier.
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