On Thursday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -1.77% to $7.20.
Chesapeake Energy Corporation, declared that it is notifying holders of its 2.75% Contingent Convertible Senior Notes due 2035 (the “Notes”) that they have the option, following the terms of the Notes, to require Chesapeake to purchase on November 15, 2015 (the “Repurchase Date”) all or a portion of such holders’ Notes (the “Repurchase Option”). The repurchase price is equal to 100% of the aggregate principal amount of the Note, together with accrued but unpaid interest thereon, up to but not counting the Repurchase Date (the “Repurchase Price”), offered that interest payable on November 15, 2015 will be paid to the holders in whose names the Notes are registered at the close of business on November 1, 2015, the record date before the Repurchase Date. Payment of the Repurchase Price will be made on November 16, 2015, which is the next succeeding business day following the Repurchase Date. If all outstanding Notes are surrendered for repurchase, the aggregate cash repurchase price will be about $396.0 million. Chesapeake intends to fund the Repurchase Price using available cash.
The Repurchase Option commences recently and expires at 5:00 p.m., New York time, on November 15, 2015. Holders may exercise the Repurchase Option by delivering a repurchase notice to The Bank of New York Mellon, the paying agent, before 5:00 p.m., New York time, on November 10, 2015. Holders may withdraw their election to exercise their Repurchase Option at any time before 5:00 p.m., New York time, on November 13, 2015, which is the business day right away preceding the Repurchase Date. In order to exercise the Repurchase Option, or withdraw Notes formerly surrendered, a holder must follow the additional procedures set forth in the notice that is being sent to all registered holders of the Notes.
Chesapeake Energy Corporation is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL. The marketing, gathering and compression operating segment is responsible for marketing, gathering and compression of oil, natural gas and NGL.
Shares of United States Steel Corporation (NYSE:X), declined -4.99% to $9.90, during its last trading session.
United States Steel Corporation, declared that interested stockholders, investors and others may listen to the company’s third quarter 2015 conference call with securities analysts on Wednesday, November 4, 2015, at 8:30 a.m. EST. The call, which will be available via the U. S. Steel website, will cover third quarter 2015 financial results and may comprise forward-looking information. The company plans to release its third quarter 2015 financial results following the close of trading on the New York Stock Exchange on Tuesday, November 3.
U. S. Steel officials participating in the call will be Mario Longhi, president and CEO; David B. Burritt, executive vice president and CFO; and Dan Lesnak, general manager-investor relations.
United States Steel Corporation (U. S. Steel) is a steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-rolled Products (Flat-rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
Shares of SLM Corp (NASDAQ:SLM), declined -2.84% to $7.19, during its last trading session.
Temeka Easter, director of social media at Sallie Mae – the nation’s saving, planning, and paying for college company – has been selected by the Delaware Business Times (DBT) for its DBT 40 Class of 2015, an annual honor that recognizes 40 individuals under the age of 40 as influential young achievers and innovators. The 2015 class was honored at a reception on Sept. 30 at the Delaware Art Museum.
Easter has devoted her career to assisting individuals and families plan for and manage their financial futures. She has initiated saving-for-college initiatives, devised plans that encourage employers to promote college savings, and transformed Sallie Mae’s social media presence into a forum for conversations about financial literacy, responsible borrowing, and the importance of higher education. Easter is a sought-after authority on planning for college and social media, speaking at regional and national industry events, most recently at the national conference of the National Association of Student Financial Aid Administrators.
SLM Corporation is a holding company. The Company is a saving, planning and paying for education company. It is engaged in originating and servicing private education loans it makes to students and their families. The Company also operates a consumer savings network that provides financial rewards on everyday purchases to assist families save for college.
Finally, Capstone Turbine Corporation (NASDAQ:CPST), ended its last trade with -25.53% loss, and closed at $0.253.
Capstone Turbine Corporation, declared that its preliminary second quarter earnings were notably below administration’s expectations and analysts’ consensus estimates as continued headwinds in the oil and gas market and a strong U.S. dollar delayed orders and shipments in the quarter.
After posting the second best first quarter in company history, which was an improvement of 16% year-over-year, and a 200 basis point improvement in margin, Capstone practiced a noteworthy slowdown in both product shipments and new order flow in the most recent quarter ended September 30, 2015. In addition, the Company received no noteworthy payments from its Russian distributor, who until recently was one of their largest customers.
As a result of the lower than predictable revenue and raised inventory levels, cash burn for the quarter was higher than anticipated prompting administration to look at additional areas within the business where operating expenses can be right away reduced. Administration has therefore decided to indefinitely postpone an forthcoming employee merit improvement, cut hourly overtime, eliminate temporary employees and convert all variable cash compensation to stock grants. These actions are in addition to the recent flattening of the Capstone executive organizational structure which eliminated three executive positions back in April 2015. These most recent actions combined with the April restructuring will save about $3.3 million in cash annually.
Capstone Turbine Corporation (Capstone) develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications, counting cogeneration (combined heat and power), integrated combined heat and power (ICHP), and combined cooling, heat and power (CCHP), renewable energy, natural resources and critical power supply.
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