On Monday, Viacom, Inc. (NASDAQ:VIAB)’s shares inclined 1.13% to $62.50.
BET Networks, a partner of Viacom Inc. (VIAB), BET Networks in partnership with the National Basketball Players Association (NBPA) declares Tuesday, July 21st as the premiere date for the 1st Annual “Players’ Awards”. The first inaugural show will tape at the historic Penn & Teller Theater in the Rio Las Vegas Hotel and Casino on Sunday, July 19th.
Viacom Inc. operates as an entertainment content company in the United States and internationally. The company creates television programs, motion pictures, short-form video, applications, games, consumer products, social media, and other entertainment content.
CMS Energy Corporation (NYSE:CMS)’s shares gained 0.30% to $33.82.
CMS Energy Corp. (CMS), is offering $100,000 in grants to Michigan communities this year to plant trees, an effort to encourage responsible tree planting and sustainable urban forests in communities across the state.
Up to $2,500 is accessible per community for grants. Consumers Energy sponsors the program annually to encourage responsible tree planting and sustainable urban forests in communities across the state. The Michigan Forest and Park Association reviews applications and forwards its grant recommendations to Consumers Energy.
A tree planting project must meet criteria to avoid conflicts between trees and overhead lines to be eligible. Consumers Energy provides communities with a guide titled “Right Tree Right Place,” a concept developed by the National Arbor Day Foundation, which shows how to choose appropriate tree species and suitable sites in community locations near electric lines.
CMS Energy Corporation operates as an energy company primarily in Michigan, the United States. The company’s Electric Utility segment engages in the generation, purchase, distribution, and sale of electricity to residential, commercial, and various industrial customers in Michigan’s Lower Peninsula. It operates a network of coal, gas, hydroelectric, oil, and wind generation plants. This segment’s distribution system comprises 434 miles of high-voltage distribution radial lines; 4,261 miles of high-voltage distribution overhead lines; 18 miles of high-voltage distribution underground lines; 56,022 miles of electric distribution overhead lines; 10,304 miles of underground distribution lines; and substations with an aggregate transformer capacity of 24 million thousand volt-amperes. The company’s Gas Utility segment is involved in the purchase, transmission, storage, distribution, and sale of natural gas.
At the end of Monday’s trade, Assured Guaranty Ltd. (NYSE:AGO)‘s shares dipped -0.08% to $25.16.
Assured Guaranty Ltd. (AGO) and its operating auxiliaries (collectively, Assured Guaranty), Standard & Poor’s Ratings Services (S&P) affirmed the AA Stable Outlook financial strength ratings of U.S. bond insurers Assured Guaranty Municipal Corp. (AGM), Municipal Assurance Corp. (MAC) and Assured Guaranty Corp. (AGC); European financial guarantor Assured Guaranty (Europe) Ltd. (AGE); and reinsurer Assured Guaranty Re Ltd. (AG Re). The AA rating is the highest S&P presently assigns to any financial guarantor.
In the report, S&P noted Assured Guaranty’s:
- Very strong capital adequacy
- Strong competitive position, built on a proven track record of credit discipline and market leadership
- Strong operating performance as a result, in part, of the long-term earnings power of the U.S. public finance business
- Strong liquidity, with conservative investment strategy
- Strong, well-diversified underwriting strategy, with a global footprint and low country risk
- Strong enterprise risk administration
- Strong understanding of the various risks the company faces by an practiced administration team
Assured Guaranty Ltd., through its auxiliaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in planned payments. The company insures various debt obligations, counting bonds issued by the United States state or municipal governmental authorities; notes issued to finance infrastructure projects; and asset-backed securities issued by special purpose entities.
Cenovus Energy Inc (USA) (NYSE:CVE), ended its Monday’s trading session with -0.35% loss, and closed at $14.31.
Cenovus Energy Inc. (CVE) (CVE) has reached an agreement to sell Heritage Royalty Limited Partnership (HRP), a wholly-owned subsidiary, to Ontario Teachers’ Pension Plan (Teachers’) for gross cash proceeds of approximately $3.3 billion. HRP holds approximately 4.8 million gross acres of royalty interest and mineral fee title lands in Alberta, Saskatchewan and Manitoba. In the first quarter of 2015, HRP had associated third-party royalty interest volumes of approximately 7,800 barrels of oil equivalent per day (BOE/d). Additional royalties have also been added to HRP – a royalty on Cenovus’s working interest production with implied first quarter volumes of approximately 5,400 BOE/d (pro forma), as well as a Gross Overriding Royalty (GORR) on Cenovus’s Pelican Lake heavy oil property in northern Alberta and its enhanced oil recovery project in Weyburn, Saskatchewan, with implied first quarter volumes of 1,600 BOE/d (pro forma). The GORR represents less than 15% of HRP’s cash flow.
Cenovus’s decision to sell HRP to Teachers’ is the outcome of a rigorous marketing process that attracted significant interest. Over the past several months, the company considered several alternatives to generate value from the business, including a potential initial public offering. After a thorough review, the transaction with Teachers’ was determined to be the best alternative to maximize value for Cenovus shareholders.
Cenovus Energy Inc., an integrated oil company, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada with refining operations in the United States. The company’s Oil Sands segment engages in the development and production of bitumen assets at Foster Creek, Christina Lake, Narrows Lake, and the Athabasca natural gas assets, in addition to projects in the early stages of development, such as Grand Rapids and Telephone Lake. Its Conventional segment develops and produces conventional crude oil, NGLs, and natural gas in Alberta and Saskatchewan, counting the heavy oil assets at Pelican Lake.
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