On Tuesday, Shares of Frontier Communications Corporation (NASDAQ:FTR), gained 1.57% to $5.16.
Frontier Communications Corporation, declared that it has commenced registered offerings of $750 million of common stock, par value $0.25 per share, and $1.750 billion of mandatory convertible preferred stock, par value $0.01 per share. Following the offerings, Frontier intends to grant the underwriters an option to purchase from Frontier up to an additional $75 million of common stock and up to an additional $175 million of mandatory convertible preferred stock.
Frontier intends to use the proceeds from the offerings to finance a portion of the cash consideration payable in connection with Frontier’s formerly declared acquisition of the wireline properties of Verizon Communications Inc. in California, Florida and Texas and to pay related fees and expenses. The acquisition is predictable to close in the first half of 2016. The closings of these offerings are not conditioned on each other or on the closing of the acquisition.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States.
Shares of United States Steel Corp. (NYSE:X), inclined 7.91% to $25.78, during its last trading session.
United States Steel Corporation, attained the remaining shares in a steel coating company it owned as a joint venture with AK Steel, a further step in the Pittsburgh manufacturer’s efforts to win over more of the automotive industry.
AK Steel will receive $25.2 million for its half of the joint venture in the Double Eagle Steel Coating Co. and its 700,000-ton electrolytic-galvanizing line. U.S. Steel (NYSE: X) had owned 50 percent of Desco with the other half owned by AK Steel (NYSE: AKS), which attained its shares in July 2014 together with other facilities and joint ventures when it attained Severstal North America’s operations in Dearborn, Mich.
United States Steel Corporation produces and sells flat-rolled and tubular steel products in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
At the end of Tuesday’s trade, Shares of Dollar General Corporation (NYSE:DG), gained 2.98% to $74.98.
On May 30, Dollar General Corporation opened its 12,000th store in the small, historic town of Juliette, Georgia. Dollar General, the retailer with the most locations in America, hosted a community celebration in Juliette to mark the company milestone.
Dollar General anticipates opening 730 new stores in 2015 and plans to remodel or relocate an additional 875 stores. The company plans to create more 7,000 new jobs in 2015 and Dollar General’s continued growth has created 30,000 new jobs since 2009.
Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States.
Finally, Visa Inc. (NYSE:V), ended its last trade with -0.10% loss , and closed at $69.04.
Visa, declared a new program that connects financial institutions and technology companies to simplify and accelerate the roll-out of new payment and commerce services. Visa’s new Digital Enablement Program (VDEP) builds on the company’s secure token technology and adds a turn-key, toll-free commercial framework accessible to more than 14,500 Visa financial institution clients and leading technology partners around the world. Google, with its Android Pay payment solution, is Visa’s first international program partner.
“With so many people using Android devices and a passionate developer community, we couldn’t be more excited to have Google as a partner in our program launch,” said Jim McCarthy, executive vice president of innovation and planned partnerships at Visa. “Through our new program, financial institutions can take advantage of our secure token technology to deliver the most popular mobile and digital payment services on the market recently to their customers.”
Visa Inc., a payments technology company, operates as a retail electronic payments network worldwide. The company facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities.
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