On Monday, Shares of Rite Aid Corporation (NYSE:RAD), lost -1.74% to $8.46.
Rite Aid Corporation said that it will release financial results for its Fiscal 2016 Second Quarter, which ended Aug. 29, 2015, on Thursday, Sept. 17, 2015. The company will hold an analyst call at 8:30 a.m. Eastern Time with remarks by Rite Aid’s administration team.
Rite Aid Corporation, through its auxiliaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, counting over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.
Shares of Williams Companies, Inc. (NYSE:WMB), declined -1.63% to $42.27, during its last trading session.
The Williams Companies declared an expansion of gas gathering services for Chesapeake Energy (CHK) in growing dry gas production areas of the Utica Shale in eastern Ohio and a consolidation of contracts in the Haynesville Shale in northwestern Louisiana to optimize production opportunities, streamline fee structures and restructure commitments to incentivize long-term development of the fields. The agreements with Chesapeake were reached by auxiliaries of Williams Partners L.P. (WPZ), of which Williams own 60 percent, counting the general partner interest.
“This demonstrates our commitment to working with Chesapeake to align our interests on mutual growth while sustaining the financial support of our investments,” said Alan Armstrong, chief executive officer of Williams. “These new fee structures are designed to promote production in the best locations across a wider footprint in these great basins, which improves the economics on both the drilling and midstream side. We’ve also raised certainty around fees and volumes to support our strategy of creating long-term, durable value for shareholders.”
In the Utica, Williams and Chesapeake executed a long-term, fee-based contract that gained a new area of dedication in the dry gas zone where Chesapeake and others are targeting production growth. The agreement extends the length of the Chesapeake acreage dedication to 2035, improvements the area of dedication by 50,000 acres from 140,000 acres to 190,000 net acres in a planned area adjacent to Williams’ existing assets and converts the cost-of-service mechanism to a fixed-fee structure with minimum volume commitments (MVCs). This change to a fixed-fee contract enhances Williams’ ability to gather third-party volumes and build scale in Utica’s dry gas areas. Williams anticipates this will provide the opportunity to invest more than $600 million over five years to install more than 200 miles of pipeline and related facilities as this prolific area of the basin grows with up to 800 million cubic feet per day of capacity to serve the development.
The companies also executed a new Haynesville contract that consolidates the Springridge and Mansfield contracts into a single agreement with a fixed-fee structure and a contract term to 2035. The merged contract is supported by MVCs and a drilling commitment to turn 140 equivalent wells online before the end of 2017. This commitment is projected to result in noteworthy production growth in the Haynesville Shale asset over the next two years. The combined contract also better aligns producer-midstream interests, simplifies contract administration, optimizes development of the resource across both Springridge and Mansfield areas and extends the Springridge dedication 15 years to 2035.
The Williams Companies, Inc. operates as an energy infrastructure company primarily in the United States. The company operates in three segments: Williams Partners, Access Midstream, and Williams NGL & Petchem Services.
Shares of Monsanto Company (NYSE:MON), declined -2.54% to $90.14, during its last trading session.
Monsanto Company continues to believe a combination with Syngenta (SYNN.VX) would have created tremendous value for shareowners of both companies and farmers, Syngenta has communicated that Monsanto’s improved proposal did not meet Syngenta’s financial expectations. Without a basis for constructive engagement from Syngenta, Monsanto will continue to focus on its growth opportunities built on its existing core business to deliver the next wave of transformational solutions for agriculture.
Monsanto confirmed it communicated a revised proposal on August 18 to Syngenta to combine the two companies. The improved proposal, subject to due diligence and other customary conditions, comprised a number of elements counting the following:
- Monsanto’s new proposal raised the cash component of the projected transaction to CHF 245 per share. The proposal also maintained the same number of shares as in its April proposal, providing Syngenta shareowners with an approximate 30 percent ownership in the new company. Based on Monsanto’s share price and currency exchange rates at the time, the revised proposal translated to a value of CHF 470 per share.
- Given the confidence the transaction would close and to provide additional protection from closing risk, the proposal raised the reverse break-up fee to $3 billion. The reverse break-up fee would have been payable by Monsanto if it would have been unable to obtain necessary global regulatory approvals.
The shareowners of the combined company would have benefited from substantial synergies, noteworthy cash EPS accretion and attractive ROIC, in addition to a responsible capital structure.
Monsanto Company, together with its auxiliaries, provides agricultural products for farmers worldwide. It operates in two segments, Seeds and Genomics, and Agricultural Productivity.
Finally, FirstEnergy Corp. (NYSE:FE), ended its last trade with 0.95% gain, and closed at $30.88.
FirstEnergy Corp., declared that President and Chief Executive Officer Charles E. Jones will take part in a panel negotiation at the Bank of America/Merrill Lynch Power & Gas Leaders Conference on Wednesday, September 16, 2015. The panel, which is titled, “Investment Opportunities Among Shifting Regulatory Trends,” is planned to start at about 9:30 a.m. EDT.
FirstEnergy Corp., through its auxiliaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates fossil, coal-fired, nuclear, oil and natural gas, wind and solar power, and hydroelectric generating facilities.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
