On Thursday, in the course of current trade, Shares of McDermott International (NYSE:MDR), climbed 1.48%, and is now trading at $4.83.
McDermott International, declared it has been awarded a lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia.
Work on the contract is predictable to be executed through the second quarter of 2018. The award follows the June 2015 signing of a second Long Term Agreement (LTA) between McDermott and Saudi Aramco for engineering, procurement, construction and installation (EPCI) opportunities in various fields offshore Saudi Arabia.
The package of various EPCI projects that make up the lump sum award represent the largest single award for McDermott’s Middle East Area operations in company history. Revenue from the fixed-price award will be comprised in McDermott’s third quarter 2015 backlog.
McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East.
During an Afternoon trade, Shares of General Mills, Inc. (NYSE:GIS), climbed 1.58%, and is now trading at $57.71.
General Mills, declared it has reached a definitive agreement to sell its Green Giant and Le Sueur vegetable businesses to B&G Foods, Inc., (BGS) for about $765 million in cash, subject to an inventory adjustment at closing.
General Mills will continue to operate the Green Giant business in Europe and select other export markets under license from B&G Foods.
The sale reinforces General Mills’ planned precedingity to shape its portfolio for growth, focusing its resources on the brands, categories, and geographic markets that have the greatest future growth opportunities.
The Green Giant and Le Sueur businesses comprised in the projected transaction, comprised of the U.S., Canada, and select other markets, generated annual net sales of about $585 million in fiscal 2015.
General Mills, Inc. manufactures and markets branded consumer foods in the United States and internationally. It also supplies branded and unbranded food products to the foodservice and commercial baking industries.
Shares of Hecla Mining Company (NYSE:HL), during its Thursday’s current trading session fell -1.99%, and is now trading at $1.97.
Hecla Mining Company’s, Vice President – Investor Relations, Mike Westerlund, will present at the Rodman & Renshaw Annual Global Investment Conference in New York on Wednesday, September 9, 2015, at 2:10 p.m. ET.
Hecla Mining Company, together with its auxiliaries, discovers, acquires, develops, produces, and markets precious and base metal deposits worldwide. The company offers unrefined gold and silver bullion bars to precious metals traders; and lead, zinc, and bulk concentrates to custom smelters and brokers.
Finally, Allianzgi Convertible & Income Fund (NYSE:NCV), gained 0.62% Thursday.
AllianzGI Convertible & Income Fund (NCV) and AllianzGI Convertible & Income Fund II (NCZ) declared dividend changes this month. The dividend reductions were made in large part in recognition of changing market dynamics and to better align the dividend rates of the two Funds with their current and projected level of earnings.
The dividends will be payable on October 1, 2015 to shareholders of record on September 11, 2015, with an ex-dividend date of September 9, 2015.
The Funds are closed-end administration investment companies. The Funds’ investment objective is to provide total return through a combination of capital appreciation and current income. There can be no assurance that the Funds will achieve their stated objectives.
AllianzGI Convertible & Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Administration LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in fixed income markets of the United States.
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