On Monday, Shares of Noble Energy, Inc. (NYSE:NBL), lost -6.21% to $46.07.
Noble Energy, and Rosetta Resources Inc. declared a definitive merger agreement whereby Noble Energy will acquire all of the common stock of Rosetta in an all-stock transaction valued at $2.1 billion, plus the assumption of Rosetta’s net debt of $1.8 billion as of March 31, 2015.
Rosetta’s liquids-rich asset base comprises about 50,000 net acres in the Eagle Ford Shale and 56,000 net acres in the Permian (46,000 acres in the Delaware Basin and 10,000 acres in the Midland Basin). Noble Energy has identified in excess of 1,800 gross horizontal drilling locations for development, providing net unrisked resource potential of about one billion barrels of oil equivalent.
Rosetta’s assets produced 66 thousand barrels of oil equivalent per day in the first quarter of 2015, and year-end 2014 proved reserves were 282 million barrels of oil equivalent. More than 60 percent of Rosetta’s current production and proved reserves are liquids. Noble Energy anticipates a compounded annual production growth rate from these assets over the next several years of about 15 percent, generating positive free cash flow on an annual basis.
Under the definitive agreement, Rosetta shareholders will receive 0.542 of a share of Noble Energy common stock for each share of Rosetta common stock held. Based on the Noble Energy closing price on May 8, 2015, the transaction has an implied value to Rosetta shareholders of $26.62 per share, representing a 28 percent premium to the average price of Rosetta stock over the last 30 trading days. Following the transaction, shareholders of Rosetta are predictable to own 9.6 percent of the outstanding shares of Noble Energy.
The boards of directors of both companies have unanimously approved the terms of the agreement, and Rosetta’s board has recommended that its shareholders approve the transaction. Completion of the transaction is subject to the approval of the Rosetta shareholders and certain regulatory approvals and customary conditions. The transaction is predictable to close in the third quarter of 2015.
Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, and production of crude oil, natural gas, and natural gas liquids worldwide. Its principal projects are located in onshore DJ Basin and Marcellus Shale, the United States; the deepwater Gulf of Mexico; offshore West Africa; and offshore Eastern Mediterranean.
Shares of Glu Mobile, Inc. (NASDAQ:GLUU), inclined 1.05% to $6.72, during its last trading session.
Glu Mobile, declared the launch of a new television commercial in support of the game Kim Kardashian: Hollywood, starring Mrs. Kardashian West. Planned to air in major U.S. metropolitan markets, the commercial targets the game’s core demographics through broadcast networks with synergistic viewership.
The company has also launched an online campaign through Maker Studios, a global leader in short-form video content for tech-savvy audiences. The weeklong campaign pits a roster of top YouTube talent, who partnered with Maker, against one another in a competition to achieve the highest status in Kim Kardashian: Hollywood. The campaign kicked-off on May 8th and features digital stars Strawburry17, LDShadowLady, Farahdhukai, JessicaHarlow, SuperMaryFace, Jouelzy and others.
Glu Mobile Inc. develops, publishes, and markets a portfolio of games for the smartphones and tablet devices users. The company offers free-to-play action, casual, racing, and sports genre mobile games. It creates games based on its own brands, counting Blood & Glory, Contract Killer, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, Heroes of Destiny, Racing Rivals, and Tap Sports: Baseball, in addition to based on third-party licensed brands, such as Kim Kardashian: Hollywood, Robocop: The Official Game, and Hercules:
At the end of Monday’s trade, Shares of MFA Financial, Inc. (NYSE:MFA), gained 0.26% to $7.83.
MFA Financial, declared financial results for the first quarter ended March 31, 2015.
First Quarter 2015 and other highlights:
- Generated first quarter net income accessible to common shareholders of $78.4 million, or $0.21 per common share (based on 371.9 million weighted average common shares). As of March 31, 2015, book value per common share was $8.13.
- On April 30, 2015, MFA paid its first quarter 2015 dividend of $0.20 per share of common stock to shareholders of record as of March 27, 2015.
MFA Financial, Inc., a real estate investment trust (REIT), invests in residential agency and non-agency mortgage-backed securities (MBS), and residential whole loans in the United States (the U.S.). Its MBS are secured by hybrid mortgages, adjustable-rate mortgages, and 15-year and longer term fixed-rate mortgages, in addition to by mortgages that have interest rates that reset more frequently.
Finally, Macy’s, Inc. (NYSE:M), ended its last trade with 0.14% gain, and closed at $66.03.
Macy’s, is calling all charities, inviting them to take part in Macy’s 10th annual national “Shop For A Cause”– a unique one-day-only shopping event created to support local charities’ fundraising efforts. This year’s Macy’s “Shop For A Cause” event will take place on Saturday, Aug. 29 and charities can sign-up now to take part. Since 2006, the program has assisted raise tens of millions of dollars for charities across the country, and in 2014, more than 4,000 charities signed up to take part.
To qualify to take part, charitable organizations must have a 501(c) 3 or other recognized tax-exempt status. To apply, qualified charities should log onto macys.com/shopforacause and submit their application online. Macy’s will provide participating organizations with shopping passes to sell for $5 each, and the organization will keep 100 percent of the proceeds for every shopping pass that it sells. Customers can purchase a $5 Shop For A Cause savings pass from their favorite participating charity, then use the pass in any Macy’s store location all day on Aug. 29 and enjoy spectacular discounts.
From Aug. 19 through Aug. 29, 2015, customers will be invited to give $5 to the March of Dimes®, the nation’s leading nonprofit for pregnancy and baby health, at any Macy’s register and receive a shopping pass valid for special discounts all-day on most regular, sale and clearance purchases (some exclusions apply) on Aug. 29. Online customers may take part, too, on macys.com on Aug. 29.
Macy’s, Inc., together with its auxiliaries, operates stores and Internet Websites in the United States. Its stores and Websites sell a range of merchandise, counting apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods.
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