On Friday, Shares of SandRidge Energy, Inc. (NYSE:SD), lost -1.83% to $1.07, hitting its lowest level, as oil prices fell Friday on the firming U.S. dollar as investors tracked the latest twists in the Greek debt negotiations and braced themselves for the looming deadline in the Iran nuclear talks.
Light, sweet crude for July delivery, the U.S. benchmark, lost 84 cents, or 1.4%, to $59.61 a barrel on the New York Mercantile Exchange. It finished the week down 35 cents, or 0.6%, according to WSJ.com.
The global Brent contract for August ended down $1.24, or 1.9%, at $63.02 a barrel on the ICE Futures Europe exchange. For the week, it lost $1.62, or 2.5%. WSJ Reports.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
Shares of Great Panther Silver Ltd (NYSEMKT:GPL), declined -33.29% to $0.32, during its last trading session, hitting its lowest level.
Great Panther Silver Limited, declared that it has obtained a US$10,000,000 credit facility from Auramet International LLC. Great Panther has had a commercial relationship with Auramet for several years.
“Great Panther has a strong balance sheet with no debt and about $35 million (Canadian dollars) of net working capital. The Auramet facility provides the Company with greater financial flexibility and, in particular, more options with regard to the pricing and the timing of the pricing of our concentrate sales.” stated Robert Archer, President & CEO.
The facility has a term of one year and interest on borrowings under the facility is payable at the rate of three month Libor plus 5%. The Company has not drawn on the facility at this time.
Great Panther Silver Limited, a silver mining and exploration company, engages in the mining of mineral properties in Mexico. The company explores for silver, gold, lead, and zinc. It primarily owns a 100% interest in the Topia Mine comprising of 53 contiguous concessions covering about 6,258 hectors in Durango State; and a 100% interest in the Guanajuato silver-gold mine covering 1,107 hectares situated in the Guanajuato Mining District.
Finally, Abbott Laboratories (NYSE:ABT), ended its last trade with -0.10% loss, and closed at $49.89.
Abbott Laboratories, said it would back Mylan’s projected $35 billion unsolicited takeover offer for Perrigo.
Abbott, which holds 14.5% of Mylan since its 2014 sale of non-U.S. developed markets in certain generics, said it confirmed its continued support for Mylan’s growth strategy and its intention to vote in favor of the Perrigo transaction. Abbott said that as both Mylan’s largest shareholder and its partner through manufacturing relationships, Abbott has considered the entire situation and believes Mylan’s standalone strategy and acquisition of Perrigo will further enhance its platform.
The projected Perrigo deal, which has been rejected by Perrigo, would require a vote of Mylan shareholders.
Abbott Laboratories manufactures and sells health care products worldwide. Its Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome; intrahepatic cholestasis or depressive symptoms.
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