World Kinect Corporation Completes Sale of the Avinode Group and Portfolio of Aviation Software Products
World Kinect Corporation (WKC)
Company Research
Source: Business Wire
MIAMI--(BUSINESS WIRE)--World Kinect Corporation (NYSE: WKC) announced today it has completed the sale of the Avinode Group, the world’s leading air charter sourcing platform, and its portfolio of aviation FBO software products to CAMP Systems International, Inc., a wholly-owned subsidiary of Hearst.World Kinect received gross cash proceeds at closing of approximately $200 million, and expects to report a one-time after-tax gain of approximately $75-80 million in the second quarter.“We are pleased to close on this strategic sale – another example of our efforts to sharpen our portfolio,” said Ira M. Birns, Executive Vice President and Chief Financial Officer. “In the short-term, this transaction provides us with liquidity to reduce our annual run-rate of interest expense by approximately $10 million and, longer-term, the transaction provides additional capital to invest in synergistic opportunities in our core business.”About World Kinect CorporationHeadquartered in Miami, Florida
Show less
Read more
Impact Snapshot
Event Time:
WKC
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
WKC alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
WKC alerts
High impacting World Kinect Corporation news events
Weekly update
A roundup of the hottest topics
WKC
News
- World Kinect Corporation Reports First Quarter 2024 ResultsBusiness Wire
- World Kinect Co. (NYSE: WKC) had its price target raised by analysts at Raymond James from $30.00 to $32.00. They now have an "outperform" rating on the stock.MarketBeat
- World Kinect Corporation to Host First Quarter 2024 Earnings Conference Call on April 25, 2024Business Wire
- World Kinect Co. (NYSE: WKC) had its price target raised by analysts at Bank of America Co. from $23.00 to $26.00. They now have an "underperform" rating on the stock.MarketBeat
- World Kinect Corporation Highlights Growth Strategy and Financial Outlook During 2024 Investor DayBusiness Wire