On Monday, Shares of SandRidge Energy, Inc. (NYSE:SD), lost -0.19% to $0.52, hitting its lowest level.
On July 27, SandRidge Energy declared that it has fallen below the New York Stock Exchange (“NYSE”) continued listing requirement that the average closing price of a listed company’s common stock be above $1.00 per share, calculated over a period of 30 successive trading days. The Company received notice from the NYSE on July 23, 2015 regarding the deficiency.
Under the NYSE standards, the Company can avoid delisting if, during the six-month period following receipt of the NYSE notice, on the last trading-day of any calendar month, the Company’s common stock has a closing price per share and a 30 trading-day average closing share price of at least $1.00. The Company intends to consider accessible alternatives, potentially counting a reverse stock split, in order to cure the stock price deficiency and return to compliance with the NYSE continued listing requirement. Under the NYSE’s rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require approval by its shareholders at the next annual meeting of shareholders, such as a reverse stock split, the six month period described above will extend to shortly after such annual meeting.
During this period, the Company’s common stock will continue to be traded on the NYSE, subject to compliance with other continued listing requirements.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
Shares of Groupon, Inc. (NASDAQ:GRPN), declined -3.53% to $4.65, during its last trading session, hitting its lowest level.
After recently acquiring OrderUp, Groupon declared plans to further expand into delivery and takeout with the launch of Groupon To GoTM in Chicago. Piloted with more than 500 restaurants since March, Groupon To Go saves customers 10 percent or more in the form of instant cash back on every order at some of the top eateries in the city. Just in time for the forthcoming football season, Groupon is offering fans the opportunity to win a Groupon To Go office party complete with tailgate games and food delivered by legendary former Chicago Bears coach and player Mike Ditka.
Included in the launch of Groupon To Go are a number of national favorites, counting Quiznos, Popeyes, Subway and Papa John’s. Notable Chicago restaurants comprise: Ditka’s Restaurant, Al’s Beef, Adobo Grill, BIG & little’s, Freshii, Rosati’s Pizza, Star of Siam and Wishbone. Following Chicago, the service will expand to other major metros throughout the remainder of 2015, leading with Austin and Boston later this fall. OrderUp will continue to serve as Groupon’s delivery and takeout presence in midsize markets.
Future Groupon To Go enhancements will comprise real-time order tracking, group ordering and the ability to plan delivery and takeout for another date and time. In addition, Groupon To Go plans to offer delivery fulfillment services for participating restaurants––leveraging OrderUp’s technology and operations platform.
Groupon, Inc. operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount worldwide. It also offers deals on products for which it acts as the merchant of record.
Finally, Caterpillar Inc. (NYSE:CAT), ended its last trade with -1.74% loss, and closed at $77.26.
Caterpillar declared it will start independently designing and manufacturing its vocational truck product family at its plant in Victoria, Texas. The plant, which opened in 2012, presently produces hydraulic excavators.
Caterpillar launched its first vocational truck, the CT660, in the North American market in 2011. Two more models have since been added to the lineup, the CT680 and CT681. To date, Caterpillar has worked with Navistar for the products’ design and build, which are presently manufactured in Escobedo, Mexico.
“We appreciate the partnership we have had with Navistar,” Chadwick said. “As we look to future launches of new truck models, this updated strategy will better position us to assist provide our customers with the best products and services for this market. Caterpillar continues to drive the design phase of all models, both current and planned. Before launching the product, we spent hundreds of hours on the road with customers, asking them to describe the ideal truck. We know what they want and need – from functionality of the truck itself to comfort in the cab. We plan to meet and exceed those expectations as we grow this product offering to fulfill our customers’ needs.”
The transition process will start right away, with production predictable to start in the first half of next year. Caterpillar Victoria will continue to produce excavators, and the addition of the vocational truck production is predictable to add around 200 new jobs at the facility.
Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. The company’s Construction Industries segment offers backhoe, small wheel, skid steer, multi-terrain, compact track, medium and compact wheel, and track-type loaders; mini, wheel, and track excavators; track-type tractors; and select work tools, motor graders, telehandlers, soil compactors, and pipelayers, in addition to its related parts for the heavy and general construction, rental, mining and quarry, and aggregates markets.
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