On Thursday, Shares of Alcoa Inc (NYSE:AA), lost -4.04% to $9.27.
Alcoa will hold a conference call on Thursday, October 8 starting at 5:00 p.m. EDT to discuss third quarter 2015 results and business developments. The conference call will be webcast live via Alcoa’s website, www.alcoa.com, with presentation materials available online at 4:15 p.m. EDT.
Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions. Its products, which comprise aluminum, titanium and nickel, are used in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, consumer electronics, and industrial applications across the world.
Shares of Wells Fargo & Co (NYSE:WFC), inclined 0.14% to $51.42, during its last trading session.
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.
“GE Railcar Services, with its high quality asset base, has a long history of strength and stability that will add significantly to the quality and diversification of our existing fleet,” said Barbara Wilson, president, First Union Rail. “We greatly value our client relationships and look forward to meeting the industry’s growing demand for rail cars.”
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 and bank holding company. Its principal business is to act as a holding company for its auxiliaries. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking and Wealth, and Brokerage and Retirement. The Company provides retail, commercial and corporate banking services through banking stores and offices, the Internet and other distribution channels to individuals, businesses and institutions in all around 50 states, the District of Columbia and in other countries.
Shares of Xerox Corp (NYSE:XRX), declined -0.92% to $9.64, during its last trading session.
For the second successive year, Xerox (XRX) has been named to the Dow Jones Sustainability Index for North America. Launched in 1999, the Dow Jones Sustainability Indices evaluate the sustainability performance of the largest 2,500 companies listed on the Dow Jones Global Total Stock Market Index. Companies are selected for the indices based on a comprehensive assessment of long-term economic, environmental and social criteria that account for general in addition to industry-specific sustainability trends.
“Inclusion in the Dow Jones Sustainability Index is a source of pride for our employees, building on our history and belief that sustainability is achievable with innovation and ingenuity,” said Diane O’Connor, vice president, Xerox Environment, Health, Safety and Sustainability.
Xerox has a long-standing commitment to environmental sustainability that began more than 30 years ago with the introduction of two sided copying and continued over the decades with innovative solutions such as power down mode for office equipment and electronics remanufacturing. More recently, Xerox introduced a number of transportation solutions to enhance urban mobility, such as the Merge® smart parking system, which uses occupancy data from meters and sensors to vary pricing and hence availability and the Xerox Print Awareness Tool, which provides end-users with graphical displays of their print usage in addition to “eco-tips” to enhance sustainability awareness and choices.
Xerox Corporation is engaged in offering business process and document administration solutions. The Company operates through the following segments: Services, Document Technology and Other. The Company’s customers comprise small and midsize businesses (SMBs), graphic communications companies, Governmental entities, educational institutions and Fortune 1000 corporate accounts.
Finally, Weatherford International Plc (NYSE:WFT), ended its last trade with -1.42% loss, and closed at $8.36.
Weatherford International declared that it has decided not to pursue its formerly declared concurrent public offerings of ordinary shares of the Company and mandatorily exchangeable subordinated notes of Weatherford International Ltd., a Bermuda exempted company and wholly owned partner of the Company.
While investor interest was strong for this offering, we are unwilling to sell securities at prices that do not reflect the value we have created at Weatherford. The Company continues on its resolute course of focusing on its core businesses and the efficiency of its operations. The Company also continues to expect to deliver positive free cash flow in 2015 and years beyond, has ample liquidity, and remains focused on generating strong returns for our shareholders.
The securities described above were to be offered following an effective registration statement (the “Registration Statement”) filed with the Securities and Exchange Commission (the “SEC”). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of such state or jurisdiction.
Weatherford International plc provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. The company offers managed-pressure drilling services, counting closed-loop, air, managed pressure, and underbalanced drilling; drilling services, such as directional drilling, logging while drilling, measurement while drilling, and rotary steerable systems; and tubular running services, which comprise of tubular connection and installation services for the drilling, completion, and work over of oil or natural gas wells.
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