On Monday, in the course of current trade, Shares of Pepco Holdings, Inc. (NYSE:POM), dropped -0.19%, and is now trading at $26.95.
Exelon Corporation (EXC) and Pepco Holdings Inc. (POM), issued the following statement in response to the Maryland Public Service Commission’s decision on their merger.
“We are happy that the Maryland Public Service Commission has approved our merger. However, the Commission’s order modifies a number of the projected conditions and we must carefully review it in its entirety. Our proposal delivers noteworthy economic benefits to Maryland customers, enhances reliability, promotes energy efficiency and advances clean energy as part of a long-term commitment to improve service and modernize our grid. We will have more to say once we have time to study the order.”
Pepco Holdings, Inc., through its auxiliaries, engages in the transmission, distribution, and supply of electricity. The company also distributes and supplies natural gas. In addition, the company designs, constructs, and operates energy projects and distributed generation equipment, counting combined heat and power plants principally for federal, state, and local government customers.
During Morning trade, Shares of Post Holdings, Inc. (NYSE:POST), gained 1.42%, and is now trading at $44.41.
Post Holdings, declared plans to consolidate its Post Foods and MOM Brands cereal businesses into one group, to be headquartered in Lakeville, Minnesota, at MOM Brands’ existing facilities. As a result, Post anticipates to close its office in Parsippany, New Jersey. The Parsippany office closure is predictable to be accomplished by May 2016. This decision will impact about 200 employees across the businesses. Post will offer severance and transition assistance to affected employees.
The combined business, called Post Consumer Brands, will be led by MOM Brands President Chris Neugent. Mr. Neugent will report to Rich Koulouris, who joined Post Holdings in February to lead Post Foods Group, comprising branded center-of-the-store (Post Consumer Brands) in addition to its private label retail businesses.
Post Holdings, Inc. manufactures, markets, and sells refrigerated, active nutrition, and private label food products in the United States and Canada. The company operates through five segments: Post Foods, Michael Foods, Active Nutrition, Private Brands, and Attune Foods.
Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), during its Monday’s current trading session fell -0.07%, and is now trading at $126.12.
Vertex Pharmaceuticals Incorporated, declared that the New England Journal of Medicine (NEJM) published data from the two Phase 3 studies of ORKAMBITM (lumacaftor/ivacaftor), an investigational medicine designed to treat the underlying cause of cystic fibrosis (CF) in people ages 12 and older with two copies of the F508del mutation, the most common form of the disease. The data were published online recently in conjunction with the American Thoracic Society International Conference (May 15-20, Denver, Colo.) where the data were presented in a session titled, “Discussion on the Edge: Recent Pulmonary Research Published in NEJM or JAMA.”
Vertex Pharmaceuticals Incorporated engages in discovering, developing, manufacturing, and commercializing small molecule drugs for patients with serious diseases in specialty markets. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF); and advancing its research and early-stage development programs.
Finally, Leggett & Platt, Incorporated (NYSE:LEG), gained 0.18% Monday.
On May 5, Leggett & Platt, Board of Directors declared a dividend of $.31 per share for the second quarter, a 3.3% enhance as compared to the dividend declared in the second quarter 2014. The dividend will be paid on July 15, 2015 to shareholders of record on June 15, 2015.
At an annual indicated dividend of $1.24 per share, the yield is 2.7%, based upon yesterday’s closing stock price of $46.17 per share. Accordingly, Leggett & Platt possesses one of the highest dividend yields among the S&P 500 Dividend Aristocrats.
Leggett & Platt has raised its annual dividend for 44 successive years at an average compound growth rate of 13%, a record only one other S&P 500 company has attained.
Leggett & Platt, Incorporated designs and produces a range of engineered components and products worldwide. The company’s Residential Furnishings segment offers innersprings and wire forms; steel mechanisms and hardware, springs and seat suspensions, steel tubular seat frames, bed frames and ornamental beds, and adjustable beds; and structural fabrics, carpet underlay materials, and geo components.
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