During Wednesday’s Current trade, Shares of TerraForm Power Inc (NASDAQ:TERP), gain 1.02% to $21.85.
SunEdison, Inc. (SUNE), the largest global renewable energy development company, and Dominion (NYSE:D), one of the nation’s largest producers and transporters of energy, recently declared a joint venture (JV) for the Three Cedars solar project, a 265 megawatt (MW) DC, or 210 MW AC, solar project in Utah, developed by SunEdison. The declarement marks the expansion of a joint venture recently declared regarding Dominion’s investment in the 420 MW DC Four Brothers solar project in Utah.
Similar to Four Brothers, the Three Cedars project is contracted under long-term power purchase agreements for 20 years with PacifiCorp (A-/A3), a partner of Berkshire Hathaway Energy. The project is now under construction and fully financed with an predictable commercial operation date of mid-2016.
Under the terms of the expanded JV, Dominion will invest about $320 million to acquire 50 percent of the cash equity and 99 percent of the tax equity in Three Cedars, counting funding of construction. SunEdison anticipates to fully finance the $80 million balance of the capital for Three Cedars through a loan from Deutsche Bank through construction and long-term ownership. Dominion’s aggregate investment in the joint venture is about $830 million to acquire 50 percent of the cash equity and 99 percent of the tax equity in Four Brothers and Three Cedars, counting funding of construction.
SunEdison’s 50 percent interest in both the Four Brothers and Three Cedars projects are on the Call Right Projects List for TerraForm Power, Inc. (TERP), a global owner and operator of clean energy power plants.
TerraForm Power, Inc. owns and operates solar and wind generation assets serving utility, commercial, and residential customers. As of February 20, 2015, its portfolio compriseed of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with an aggregate nameplate capacity of 1,507.3 megawatt. The company was formerly known as SunEdison Yieldco, Inc. and changed its name to TerraForm Power, Inc. in May 2014. The company was founded in 2014 and is based in Bethesda, Maryland. TerraForm Power, Inc. is a partner of SunEdison, Inc.
Shares of AmerisourceBergen Corp. (NYSE:ABC), inclined 1.04% to $102.10, during its current trading session.
AmerisourceBergen Corporation (ABC) declared that its Board of Directors has elected D. Mark Durcan, 54, to its Board of Directors, effective right away. Mr. Durcan fills the vacancy created by Edward E. Hagenlocker’s retirement at the annual meeting of stockholders on March 5, 2015.
Mr. Durcan is presently the Chief Executive Officer and a director of Micron Technology, Inc., a global leader in advanced semiconductor systems. Mr. Durcan, a 30-year veteran of Micron, has served as Chief Executive Officer and a director since February 2012. He served as President from June 2007 until February 2012, during which time he continued in his role as Chief Operating Officer, a position he assumed in February 2006. He served as Chief Technology Officer from June 1997 to February 2006. Before his appointment as Chief Technology Officer, he held various other positions with Micron and its auxiliaries.
AmerisourceBergen Corporation sources and distributes pharmaceutical products to healthcare providers, pharmaceutical and biotech manufacturers, and specialty drug patients in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to various healthcare providers, counting acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
TE Connectivity Ltd (NYSE:TEL), during its Wednesday’s current trading session gained 0.08% to $60.33.
TE Connectivity Ltd. (TEL), a world leader in connectivity, recently declared that it has accomplished the formerly declared divestiture of its Broadband Network Solutions (BNS) business to CommScope (COMM) for $3.0 billion. TE continues to expect to use the majority of the proceeds from the sale for share repurchase, making the transaction neutral to adjusted earnings per share (EPS) in one year’s time.
NON-GAAP MEASURES
Adjusted Earnings Per Share is a non-GAAP measure and should not be considered a replacement for GAAP results. Adjusted Earnings Per Share represents diluted earnings per share from ongoing operations attributable to TE Connectivity Ltd. (the most comparable GAAP measure) before special items, counting charges or income related to restructuring and other charges, acquisition related charges, impairment charges, tax sharing income related to certain projected adjustments to preceding period tax returns and other tax items, certain noteworthyspecial tax items, other income or charges, if any, and, if applicable, the related tax effects. Adjusted Earnings Per Share is not intended to represent results of operations in accordance with GAAP and should not be considered a substitute for diluted earnings per share from ongoing operations or any other operating measure prepared in accordance with GAAP.
TE Connectivity Ltd., together with its subsidiaries, designs and manufactures connectivity and sensors solutions. It operates through four segments: Transportation Solutions, Industrial Solutions, Network Solutions, and Consumer Solutions.
Finally, T. Rowe Price Group Inc (NASDAQ:TROW), gained 0.56%, to $71.53.
T.Rowe Price Group, Inc. (TROW) stated its second quarter of 2015 results, counting net revenues of $1.1 billion, net income of $333.2 million, and diluted earnings per common share of $1.24. On a comparable basis, net revenues were $984.3 million, net income was $305.8 million, and diluted earnings per common share was $1.13 in the second quarter of 2014.
For the three-month period ended June 30, 2015, the net cash inflows after client transfers into the mutual funds of $1.4 billion comprise net inflows of $1.5 billion into the fixed income funds and $.4 billion into the stock and blended asset funds. These net inflows were offset by net outflows from money market funds of $.5 billion. The net cash outflows during the second quarter of 2015 from the other investment portfolios were largely concentrated among a small number of institutional and subadvised clients who redeemed primarily from large-cap U.S. equity strategies. The firm’s overall net cash flows for the second quarter of 2015 comprise $5.2 billion that originated in the firm’s target-date retirement strategies, which totaled $166.5 billion in assets under administration at June 30, 2015. These target-date assets contribute to the nearly $213 billion of assets under administration in the firm’s asset allocation portfolios.
T.Rowe Price Group, Inc. is a publicly owned asset administration holding company. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. Through its auxiliaries, it launches and manages equity and fixed income mutual funds. The firm also launches balanced mutual funds and private equity funds.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
