On Friday, Shares of Canadian Natural Resource Ltd (USA) (NYSE:CNQ), gained 3.16% to $20.89.
Canadian Natural Resources Limited (“Canadian Natural”) (CNQ.TO) (CNQ.TO) and PrairieSky Royalty Ltd. (“PrairieSky”) (PSK.TO), declare that they have accomplished the formerly declared combination of their royalty businesses, unifying two of the largest fee simple mineral title and royalty positions in Western Canada (the “Transaction”).
At closing, PrairieSky issued 44,444,444 common shares (“Common Shares”) to Canadian Natural and certain of its wholly-owned associates as partial consideration for the sale of its royalty assets for investment purposes and for distribution to its shareholders (the “Share Consideration”). The Common Shares were issued following applicable exemptions from prospectus requirements and, as a result, the Common Shares are subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws.
Canadian Natural has agreed with PrairieSky to distribute to its shareholders, by no later than December 31, 2016, by way of a dividend or return of capital (subject to regulatory approval and securities and tax regulations) sufficient PrairieSky Common Shares so that Canadian Natural, after such distribution, owns, directly or indirectly, less than 10% of the issued and outstanding shares of PrairieSky (the “Share Distribution”). Canadian Natural’s current intention is to distribute to its shareholders the majority of the Share Consideration at or near its next Annual and Special Meeting of Shareholders in May 2016, providing Canadian Natural shareholders with the opportunity to take part directly and indirectly in the combined royalty business of PrairieSky. Before the Share Distribution, Canadian Natural has agreed not to sell or otherwise dispose, or agree to sell or otherwise dispose, of the Common Shares comprising the Share Consideration, subject to certain exceptions.
Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO).
Shares of Lennar Corporation (NYSE:LEN), declined -2.47% to $47.48, during its last trading session.
Lennar Corporation (NYSE:LEN and LEN.B), one of the nation’s largest homebuilders, stated results for its fourth quarter and fiscal year ended November 30, 2015. Fourth quarter net earnings attributable to Lennar in 2015 were $281.6 million, or $1.21 per diluted share, contrast to $245.3 million, or $1.07 per diluted share, in the fourth quarter of 2014. Net earnings attributable to Lennar for the year ended November 30, 2015 were $802.9 million, or $3.46 per diluted share, contrast to $638.9 million, or $2.80 per diluted share, for the year ended November 30, 2014.
Stuart Miller, Chief Executive Officer of Lennar Corporation, said, “We are happy to declare our fourth quarter and fiscal 2015 results, as we achieved a 15% and 26% year-over-year improvement in net earnings, respectively. This was the fourth successive year of growth in revenues, pre-tax earnings, deliveries and new orders. In the fourth quarter, we were able to meet our delivery plan despite a tight labor market and the impact of the new TRID regulations. Additionally, we continued to identify unique and enticing land opportunities that will drive our future growth and profitability.”
Mr. Miller continued, “While the Federal Reserve declared the first interest rate improvement in nine years, it stated that the improvement was a sign of confidence in the economy. We believe that improving employment levels, wage growth and consumer confidence will continue to keep the housing market on its slow and steady recovery. Thus, we believe we are very well positioned to achieve another year of company-wide improvement in 2016.
Lennar Corporation, together with its auxiliaries, engages in the homebuilding activities in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida, Homebuilding Houston, Financial Services, Rialto, and Lennar Multifamily segments.
Finally, Walgreens Boots Alliance Inc (NASDAQ:WBA), ended its last trade with -1.00% loss, and closed at $82.51.
While flu activity remains low or moderate across most of the U.S., Walgreens Flu Index™ data suggests a gradual improvement in incidence of flu in a growing number of markets. The Walgreens Flu Index is a weekly report developed to provide state- and market-specific information, and ranking of those experiencing the highest incidences of influenza across the country. The Flu Index does not provide data measuring actual levels or severity of flu activity, but rather, illustrates which populations are experiencing the most incidences each week based on Index methodology.
With the ability to generate hyper-local data across most U.S. markets, the Flu Index is an online, interactive resource allowing anyone to search and find information regarding the most current state of influenza in their community.
Walgreens Boots Alliance, Inc. operates as a pharmacy-led health and wellbeing company. The company operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale.
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