On Thursday, Shares of Mondelez International, Inc. (NASDAQ:MDLZ), lost -1.12% to $46.01, despite various agricultural futures reduced after the U.S. government released harvest forecasts.
A bearish U.S. Department of Agriculture report sent corn, wheat, and soybean futures sliding on Wednesday after it revealed harvests came in above expectations, according to CNBC.
Corn and soybean futures fell sharply after the report was released, with Chicago Board of Trade new-crop November soybean futures sliding 5.8 percent to its lowest since mid-June. December corn sagged 5.6 percent. CNBC Reports
Corn production was seen at a 13.686 billion bushels, with average yield projected at 168.8 bushels per acre. The corn yield outlook topped the range of market estimates. The production view was near the high end of expectations. CNBC added.
Mondelez International, Inc., through its auxiliaries, manufactures and markets snack food and beverage products worldwide. The company offers biscuits, counting cookies, crackers, and salted snacks; chocolates, and gums and candies; powdered beverages and coffee; and cheese and grocery products.
Shares of MBIA Inc. (NYSE:MBI), declined -3.42% to $6.50, during its last trading session.
MBIA declared that it has agreed to repurchase 7.6 million of its common shares in connection with the sale by investment funds associated with Warburg Pincus LLC of their remaining 18.4 million shares of the Company. The repurchase transaction, together with open market share repurchases, will bring the total number of shares repurchased since the Company stated its second quarter financial results on August 4, 2015 to about 10.4 million shares at an average price of $6.42. Following the completion of the repurchase transaction, 158 million of the Company’s common shares will be outstanding and about $33 million of authorized capacity will remain under the share repurchase program declared by the Company on July 29, 2015.
MBIA Inc. provides financial guarantee insurance services to public finance markets in the United States and internationally. The company operates through U.S. Public Finance Insurance, and International and Structured Finance Insurance segments.
Finally, Magnum Hunter Resources Corp. (NYSE:MHR), ended its last trade with -8.83% loss, and closed at $0.98.
Magnum Hunter Resources Corp. is preparing to sell its interest in the Eureka Hunter pipeline. But there’s another, more substantial partner – one that owns the majority of the pipeline – that will be influenced by the sale, too, according to American City Business Journals.
The infrastructure arm of Morgan Stanley (NYSE: MS) gained co-control of the pipeline in September. Since March, it has owned 53 percent contrast with Magnum Hunter’s 45.53 percent – the entirety of which it plans to soon sell. American City Business Journals Reports
Pipelines and other oil and gas transportation assets are valuable in gas-glutted Appalachia; Magnum Hunter (NYSE:MHR) anticipates to get more than a half-billion dollars in much-needed liquidity with the sale and an additional $430 million with a Utica shale joint venture. American City Business Journals added.
Magnum Hunter Resources Corporation, an independent oil and gas company, explores for, exploits, acquires, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States.
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