On Friday, Shares of Brookfield Asset Management Inc (NYSE:BAM), lost -0.75% to $34.51.
Associated Estates Realty Corporation, declared the successful completion of the acquisition of Associated Estates by a real estate fund managed by Brookfield Asset Management Inc. (NYSE/TSX: BAM; Euronext: BAMA). Brookfield attained all outstanding shares of common stock of Associated Estates for $28.75 per share in cash. The transaction is valued at about $2.5 billion counting the assumption of debt.
Effective preceding to the opening of trading recently, August 7, 2015, Associated Estates common shares will cease trading on the NYSE or on the NASDAQ.
Brookfield Asset Management Inc. is a publicly owned asset administration holding company. Through its auxiliaries the firm invests in the property, power, and infrastructure sectors. Its property business comprise owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending; alternative assets funds; and financial and advisory services.
Shares of Carrizo Oil & Gas, Inc. (NASDAQ:CRZO), declined -9.33% to $33.91, during its last trading session.
Carrizo Oil & Gas, declared the Company’s financial results for the second quarter of 2015 and offered an operational update, which comprised of the following highlights:
- Record Oil Production of 22,284 Bbls/d, 21% above the second quarter of 2014
- Total Production of 36,118 Boe/d, 8% above the second quarter of 2014
- Loss From Ongoing Operations of $47.0 million, or ($0.92) per diluted share, and Adjusted Net Income (as defined below) of $20.4 million, or $0.39 per diluted share
- Adjusted EBITDA (as defined below) of $127.5 million
- Raising 2015 crude oil production growth target to 19%
Carrizo Oil & Gas, Inc., together with its auxiliaries, engages in the exploration, development, and production of oil and gas primarily in the United States. The company holds interests in crude oil plays and projects, counting Eagle Ford Shale in Texas; the Niobrara Formation located in Colorado; the Utica Shale in Ohio; and the Marcellus Shale located in Pennsylvania.
At the end of Friday’s trade, Shares of Solera Holdings Inc (NYSE:SLH), gained 3.12% to $42.92.
Solera Holdings declared that its collision estimating and customer communication platforms are the sole choice of Tesla Motors for its global certified collision repair centers.
Through AudaExplore (U.S.) and Audatex (global), insurers and repairers will use the Solera solutions to process fast and accurate collision repair estimates and insurance claims on Tesla vehicles. Tesla will also leverage the AutoWatch platform within the Solera solution set to enhance both the driver experience and communication between Tesla and its customers.
Solera Holdings, Inc. provides software and services to insurance companies, collision repair facilities, independent assessors, automotive recyclers, auto dealers, and households.
Finally, Media General Inc (NYSE:MEG), ended its last trade with 5.36% gain, and closed at $13.75.
Media General, Inc., stated results for the second quarter that ended June 30, 2015.
Commenting on the Company’s results, President and Chief Executive Officer, Vincent L. Sadusky, said: “Our team continues to make terrific progress on our integration and operating initiatives, and we delivered record net revenues despite the lack of political advertising. The investments we are making to grow our business, while delivering strong cash flow and integration synergies, are positioning our company to capitalize on numerous opportunities in 2016 and deliver strong shareholder value.”
Explanation of GAAP Results
The Company accomplished its merger with LIN Media LLC (“LIN Media”) on December 19, 2014. As a result, its 2014 GAAP financial results for the three and six months ended June 30, 2014 do not comprise LIN Media’s results, nor do they reflect the operating results of any attained stations for the period preceding to their acquisition, but do comprise the results of divested stations preceding to their divestiture.
Media General, Inc. owns and operates television stations in the United States. It operates 71 network-associated stations, and their associated digital media and mobile platforms, counting 22 CBS stations, 14 NBC stations, 12 ABC stations, 8 FOX stations, 7 MyNetworkTV stations, 7 CW stations, and 1 Telemundo station in 48 markets.
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