On Friday, Sanchez Energy Corp (NYSE:SN)’s shares declined -2.77% to $7.01.
Sanchez Energy Corporation (SN) declared that its Board of Directors (the “Board”) has adopted a net operating loss carryforwards (“NOLs”) rights plan (the “Rights Plan”) in an effort to prevent the imposition of noteworthy limitations under Section 382 of the Internal Revenue Code on its ability to utilize its current NOLs to reduce its future tax liabilities.
The Company had federal NOLs totaling about $645.1 million as of March 31, 2015. The Company’s use of its NOLs could be substantially limited if the Company experiences an “ownership change” (as defined in Section 382 of the Internal Revenue Code). In general, an ownership change occurs if there is a cumulative change in a company’s ownership by “5% percent shareholders” (as defined in Section 382 of the Internal Revenue Code) that enhances by more than 50 percentage points over the lowest percentage owned by such stockholders at any time during the preceding three years on a rolling basis. The Company noted that the Rights Plan is designed to serve the interests of all stockholders by preserving the availability of its NOLs and is similar to plans adopted by other companies with noteworthyNOLs.
Sanchez Energy Corporation, an independent exploration and production company, focuses on the acquisition, exploration, and development of unconventional oil and natural gas resources in the onshore U.S. Gulf Coast. It has about 226,000 net leasehold acres in the oil and condensate, or black oil and volatile oil, windows of the Eagle Ford Shale in South Texas; and about 69,000 net leasehold acres in the Tuscaloosa Marine Shale in Mississippi and Louisiana.
Ingersoll-Rand PLC (NYSE:IR)’s shares gained 0.29% to $61.55.
Ingersoll Rand (IR), a world leader in creating comfortable, sustainable and efficient environments, is comprised of on Green Builder Magazine’s 2015 list of Eco-Leaders. Companies recognized as Eco-Leaders proactively strive to make the world a better place to live through innovations in conservation, waste reduction and reduced carbon emissions.
The accolade highlights a number of areas where Ingersoll Rand excels – counting the Climate Commitment, EcoWise Portfolio, employee engagement initiatives and transparency – and articulates the company’s holistic approach to sustainability through weaving energy efficiency and sustainability into the fabric of the organization.
Ingersoll-Rand plc, together with its auxiliaries, designs, manufactures, sells, and services a portfolio of industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers heating, ventilation, and air conditioning (HVAC) systems, in addition to commercial and residential building services, parts, support, and controls under the Trane and American Standard brands; and transport temperature control solutions under the Thermo King brand.
At the end of Friday’s trade, Arch Coal Inc (NYSE:ACI)‘s shares dipped -4.58% to $1.26.
Arch Coal, Inc. (ACI) declared the extension of its (i) pending private offer to exchange (the “2020 Exchange Offer”) new 6.25% Trust Certificates due 2021 (the “Trust Certificates”) and a cash payment for any and all of its outstanding 7.25% Senior Notes due 2020 (the “2020 Notes”) and (ii) pending concurrent private offer to exchange (the “Concurrent Exchange Offer” and, together with the 2020 Exchange Offer, the “Exchange Offers”) Trust Certificates, 8.00% Senior Secured Notes due 2022 (the “New 2022 Secured Notes”) and 12.00% Senior Secured Second Lien Notes due 2023 (the “New 2023 Secured Notes”) for its outstanding 7.000% Senior Notes due 2019 (“Old 7.000% 2019 Notes”), 9.875% Senior Notes due 2019 (“Old 9.875% 2019 Notes”) and 7.250% Senior Notes due 2021 (“Old 7.250% 2021 Notes” and, together with the Old 7.000% 2019 Notes and the Old 9.875% 2019 Notes, the “Old Notes”).
Arch Coal, Inc. produces and sells thermal and metallurgical coal from surface and underground mines located in the United States. As of December 31, 2014, it operated or contracted out the operation of 16 mines; and owned or controlled about 5.1 billion tons of proven and probable recoverable reserves. A
Plug Power Inc (NASDAQ:PLUG), ended its Friday’s trading session with 0.88% gain, and closed at $2.29.
Plug Power Inc. (PLUG), a leader in providing clean, reliable energy solutions, recently reports its 2015 second quarter results. The quarterly results are the Company’s best in its 19-year history, and comprise:
- Record revenues of $24M
- Bookings in excess of $59M
- Positive gross margin at 7 percent
Most notably, Plug Power realized 26 percent gross margins from its longest-running product line, GenDrive, up from 17 percent in the same quarter of 2014. Plug Power has been selling GenDrive to material handling customers commercially since 2010. Recently, more than 8,500 units have been deployed in North America, and have accumulated more than 107 million operating hours.
Plug Power continues to see ongoing success and multiple deployments with repeat customers such as Walmart and Kroger, where distribution center conversion rates average one to three facilities per quarter. The GenKey value proposition has been validated by large customers like these and many others, but GenKey is increasingly attractive to mid-size customers such as Dietz and Watson, FreezPak Logistics and Newark Farmers Market because Plug Power provides cost-effective access to hydrogen through GenFuel.
Plug Power Inc., an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of fuel cell systems for the industrial off-road markets worldwide. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies. The company’s product line comprises GenKey, a turn-key solution for transitioning material handling vehicles to fuel cell power; GenDrive, which is a hydrogen fueled PEM fuel cell system that provides power to material handling vehicles; GenFuel, a hydrogen fueling delivery system; GenCare, which is an ongoing maintenance program for GenDrive fuel cells and GenFuel products; and ReliOn, a stationary fuel cell solution that provides scalable and modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors.
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