On Friday, Shares of Wells Fargo & Co (NYSE:WFC), lost -0.36% to $51.26.
Wells Fargo & Company, declared that its railcar finance, leasing and fleet administration business, First Union Rail, has signed a contract to purchase GE Railcar Services from GE Capital. The transaction, which will add to the existing fleet more than 77,000 railcars and just over 1,000 locomotives in addition to associated operating and long-term leases, is predictable to close by end of Q1 2016. Terms of the transaction are not being revealed.
Marmon Holdings, Inc., a Berkshire Hathaway company, separately declared that it has attained substantially all of GE Railcar Services’ owned fleet of railroad tank cars. In a separate transaction, Marmon has also agreed to acquire certain GE Railcar Repair Services repair and maintenance facilities.
The acquisition of GE’s railcar and locomotive fleet will make First Union Rail the second largest and most diverse railcar and locomotive leasing company in North America. A division of Wells Fargo since 1994, over half of First Union Rail’s customers have relationships with other Wells Fargo businesses.
Wells Fargo & Company is a financial services and bank holding company. The Company’s segments are Community Banking, Wholesale Banking, and Wealth and Brokerage and Retirement. The Company’s Community Banking segment offers a range of financial products and services for consumers and small businesses, counting checking and savings accounts, credit and debit cards, and auto, student and small business lending.
Shares of Chevron Corporation (NYSE:CVX), inclined 3.95% to $81.50, during its last trading session.
Chevron Corporation, one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, October 30, 2015, at 11:00 a.m. ET (8:00 a.m. PT).
Chevron Corporation (Chevron) manages its investments in auxiliaries and associates. The Company operates through two segments: Upstream and Downstream. Upstream operations comprise primarily of exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas (LNG); transporting crude oil through international oil export pipelines; transporting, storing and marketing natural gas, and operating a gas-to-liquids plant.
Finally, Spirit Realty Capital, Inc (New) (NYSE:SRC), ended its last trade with 0.32% gain, and closed at $9.42.
Spirit Realty Capital, declared that its Board of Directors has declared a quarterly cash dividend of $0.1700 per common share, which represents an annualized rate of $0.6800 per common share. Shareholders of record as of September 30, 2015, will receive the $0.1700 cash dividend on October 15, 2015.
Spirit Realty Capital, Inc is a publicly traded real estate investment trust. The firm primarily acquires across the United States single tenant operationally essential real estate, which refers to generally free-standing, commercial real estate facilities where tenants conduct retail, service or distribution activities that are essential to the generation of their sales and profits.
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