During Tuesday’s trade, Shares of Dry Ships Inc. (NASDAQ:DRYS), lost -7.50% to $0.101.
Dry Ships Inc. (NASDAQ: DRYS), or the Company, an international owner of drybulk carriers and offshore support vessels, declared that the independent members of its Board of Directors have approved the exercise of the Company’s right under its formerly declared Secured Revolving Facility Agreement with Sifnos Shareholders Inc. (“Sifnos”), a company controlled by Mr. George Economou. Specifically, the Company has elected to convert $10,000,000 of the outstanding principal amount of the loan into 100,000,000 preferred shares of the Company. Each preferred share will have five votes and will be mandatorily converted into common shares of the Company on a one to one basis within three months after the issuance thereof on a date selected by the Company.
Dry Ships Inc. provides ocean transportation services for dry bulk and petroleum cargoes, and offshore deepwater drilling services. The company operates through Dry bulk, Tanker, and Drilling segments. The Dry bulk segment provides dry bulk commodities transportation services for the steel, electric utility, construction, and agri-food industries.
Shares of Bristol-Myers Squibb Co (NYSE:BMY), inclined 2.03% to $70.04, during its current trading session.
Bristol-Myers Squibb Company, will declare results for the fourth quarter and full year of 2015 on Thursday, January 28, 2016. During a conference call at 10:30 a.m. EST on January 28, company executives will review financial information and will address inquiries from investors and analysts.
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
Finally, PG&E Corporation (NYSE:PCG), gained 1.49%, and is now trading at $53.05.
Leading LED lighting manufacturer LG Electronics declared that its Performance Line of LED troffers and retrofit kits are now qualified for the maximum level rebate ($30 per kilolumen) under the new Troffer & Troffer Integrated Retrofit Kit offering from Pacific Gas and Electric Company (PG&E).
Designed to assist commercial customers and facility managers replace aging, inefficient equipment with energy efficient alternatives, the program also is the first to offer rebates for high efficacy products 125 lumens per watt and higher, ensuring the highest standard of energy efficiency.
Through electric program administrators and utility program managers in California, commercial building owners can receive noteworthy utility rebates for installing the new, super-efficient LG lighting systems. LG offers 12 fixtures eligible for the maximum rebate level based on a per-kilolumen basis, providing one of the highest number of qualifying models in the industry.
PG&E Corporation, through its partner, Pacific Gas and Electric Company, transmits, delivers, and sells electricity and natural gas to residential, commercial, industrial, and agricultural customers primarily in northern and central California.
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