On Monday, Shares of BB&T Corporation (NYSE:BBT), lost -0.47% to $38.09.
BB&T Corporation, declared it has received regulatory approval from the Federal Reserve, the FDIC and all required state banking regulators to acquire National Penn Bancshares, Inc. (NPBC). The transaction is predictable to close in the next few months.
“We are very happy to receive these approvals and excited to move forward with the merger,” said Chairman and Chief Executive Officer Kelly S. King. “National Penn is a plannedally compelling deal that complements the legacy Susquehanna franchise and presents enormous opportunities to leverage our proven community banking capabilities in these mid-Atlantic markets.”
National Penn, headquartered in Allentown, Pa., had $9.6 billion in assets, $7.0 billion in deposits, as of Sept. 30, 2015, and 124 banking offices in Pennsylvania, New Jersey and Maryland. The planned acquisition was originally declared Aug. 17, 2015.
BB&T Corporation operates as a financial holding company that provides various banking and trust services for retail and commercial clients. It operates in six segments: Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, and Financial Services.
Shares of Penn West Petroleum Ltd (USA) (NYSE:PWE), declined -8.35% to $0.879, during its last trading session.
Park Lane Advisor has initiated coverage on the following equities: Vanguard Natural Resources LLC (VNR), Penn West Petroleum Ltd (PWE), Pengrowth Energy Corporation (PGH), and Midcoast Energy Partners L.P. (MEP). Free research report on Vanguard Natural Resources can be accessed at http://www.parklaneadvisor.com/. On Wednesday, December 23, 2015, the NASDAQ Composite ended at 5,045.93, up 0.90%, the Dow Jones Industrial Average advanced 1.06%, to finish the day at 17,602.61, and the S&P 500 closed at 2,064.29, up 1.24%. The gains were broad based as all the sectors ended the session in positive. Register for your complimentary reports at the links given below.
On Wednesday, shares in Vanguard Natural Resources LLC ended the session 23.75% higher at $3.23. The stock stated a trading volume of 4.07 million shares, above its three months average volume of 1.43 million shares. Vanguard Natural Resources LLC’s shares have plummeted 39.74% in the last one month, 61.26% in the previous three months and 75.73% on YTD basis. The company is trading 45.74% below its 50-day moving average and 68.68% below its 200-day moving average. Moreover, shares of Vanguard Natural Resources LLC have a Relative Strength Index (RSI) of 37.30.
Penn West Petroleum Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. The company’s properties are located in Alberta, British Columbia, Saskatchewan, Manitoba, and the Northwest Territories, Canada; and Wyoming, the United States.
Finally, Marathon Petroleum Corp (NYSE:MPC), ended its last trade with -1.98% loss, and closed at $51.60.
Marathon Petroleum Corporation (MPC) President and Chief Executive Officer Gary R. Heminger declared changes in the company`s senior administration structure that will be effective Jan. 1, 2016.
Donald C. Templin, executive vice president, Supply, Transportation and Marketing, has been named president, MPLX (MPLX). Templin will continue to report to Heminger and remain an executive vice president of MPC. He will be located in Findlay.
Also effective Jan. 1, Pamela K. M. Beall, MPC`s senior vice president, Corporate Planning, Government and Public Affairs, will become executive vice president, Corporate Planning and Strategy at MPLX, reporting to Templin. She will also remain in Findlay.
Marathon Petroleum Corporation, together with its auxiliaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Pipeline Transportation.
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