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AB Electrolux ADR B (ELUXY)

- OTCPK - Current
  • Wed, Apr. 8, 11:00 AM
    • Shares of Whirlpool (NYSE:WHR) are down 1.8% after rival Electrolux (OTC:ELUXF, OTCPK:ELUXY) warns on results in North America.
    • The Swedish appliance seller expects to post a loss in Q1 due in part to costs tied to energy regulations.
    • "Electrolux operations continue to be negatively impacted by the transition of the product ranges within refrigeration and freezers," reads the company's statement.
    • Electrolux will release full Q1 results on April 24.
    • Shares of Electrolux ADRs have fallen 7.7%.
    • Electrolux update on North American operations
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  • Thu, Feb. 26, 9:30 AM
    • Prices on appliances fell 4.9% Y/Y in January, according to data from the Bureau of Labor Statistics.
    • Major appliances saw a 7.7% slide, including a 8.4% drop in laundry equipment prices.
    • Related stocks: WHR, CONN, BBY, HGG, SHLD, OTC:ELUXF, OTCPK:ELUXY.
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  • Sep. 8, 2014, 2:21 AM
    • General Electric (NYSE:GE) has signed a definitive agreement to sell its appliance business to Electrox (OTC:ELUXF, OTCPK:ELUXY) for $3.3B.
    • "GE's premium, high-quality appliances complement our own iconic brands and will enhance our presence in North America" says Electrolux CEO Keith McLoughlin.
    • Electrolux will continue use of the GE Appliances brand following the close of the transaction (targeted for 2015).
  • Sep. 4, 2014, 11:33 AM
    • Electrolux (OTC:ELUXF, OTCPK:ELUXY) is near a deal to buy General Electric's (GE +0.2%) appliance business for more than $2.5B, with an agreement set to be announced as early as next week, according to a Reuters report.
    • GE's iconic household appliance business, which along with lighting generated $8.3B in 2013 revenue, could help the Swedish appliance manufacturer expand beyond its core European market where growth has trailed North America.
  • Aug. 18, 2014, 6:36 PM
    • Around the time GE was closing a deal to buy Alstom's power business in France, the company was already discussing the possibility of selling its U.S. appliance business to Electrolux (OTC:ELUXF, OTCPK:ELUXY), and WSJ says the length of the courtship indicates the talks may be further along than thought.
    • GE's Appliance and Lighting unit reported $381M in profit in 2013 on sales of $8.3B, making it the third-smallest of GE's seven industrial business lines by revenue, but that also makes it a prime target for sale as GE tries to pare low-margin businesses and focus its efforts on such heavy industrial products as jet engines, power turbines and oil industry equipment.
    • LG Electronics and Samsung also are said to be in the mix of possible buyers, and Quirky Inc. reportedly has teamed up with Blackstone to work on a possible bid.
  • Aug. 14, 2014, 2:53 AM
    • General Electric (NYSE:GE) is in talks with Sweden's Electrolux (OTCPK:ELUXY) and Quirky, a consumer-product development startup, over the sale of its century-old appliances business that could fetch $2B.
    • Quirky would partner with private-equity firms to acquire a majority stake, leaving GE with a minority holding.
    • GE has been trying to sell its home appliances unit again as CEO Jeffrey Immelt puts a greater focus on industrial operations.
  • Apr. 25, 2012, 10:02 AM
    Swedish appliance maker Electrolux (ELUXY.PK +7.1%) soars on strong earnings thanks to price increases in North America. "The (U.S.) is probably past the bottom of a home-building slump," says the CEO. Whirlpool (WHR +7.5%) - which reports tomorrow - also flies on the news.
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Company Description
Electrolux is a global leader in household appliances and appliances for professional use, selling more than 40 million products to customers in more than 150 markets every year.<br /><br />The company focuses on innovations that are thoughtfully designed, based on extensive consumer insight, to... More
Country: Sweden