On Tuesday, Glu Mobile Inc. (NASDAQ:GLUU))’s shares declined -2.49% to $4.70.
Glu Mobile Inc. (GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, recently declared the availability of Tap Sports Football on the App Store and Google Play. Football fans build and manage a team of professional players, make planned decisions and compete against friends. Branded with the likeness of star quarterback Drew Brees, Tap Sports Football features all active players through Glu’s partnership with the National Football League Players Association (NFLPA).
Glu Mobile Inc. develops, publishes, and markets a portfolio of games for the smartphones and tablet devices users. The company offers free-to-play action, casual, racing, and sports genre mobile games. It creates games based on its own brands, counting Blood & Glory, Contract Killer, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, Heroes of Destiny, Racing Rivals, and Tap Sports: Baseball, in addition to based on third-party licensed brands, such as Kim Kardashian: Hollywood, Robocop: The Official Game, and Hercules: The Official Game. Glu Mobile Inc. markets, sells, and distributes its games primarily through direct-to-consumer digital storefronts worldwide.
Energy Transfer Equity LP (NYSE:ETE)’s shares dropped -1.89% to $30.15.
Energy Transfer Equity, L.P. (ETE) declared a $0.04 enhance in its quarterly cash distribution to $0.53 per ETE common unit on a pre-split basis ($0.02 per ETE common unit to $0.265 on a post-split basis) for the second quarter ended June 30, 2015. Annualized, the enhance equates to $2.12 per ETE common unit on a pre-split basis and $1.06 per ETE Common unit on a post-split basis.
ETE formerly declared a two-for-one split (“Unit Split”) of the Partnership’s common units that is planned to be accomplished tomorrow. As a result of the Unit Split, the number of outstanding ETE common units will double. Therefore, the enhance in the quarterly distribution will be $0.02 to $0.265 per ETE common unit on a post-split basis. Since the record date for distributions is after the completion of the Unit Split, ETE unitholders will be paid the quarterly distribution on a post-split basis.
Energy Transfer Equity, L.P., through its auxiliaries, provides diversified energy-related services in the Unites States. It owns and operates about 7,700 miles of natural gas transportation pipelines and 3 natural gas storage facilities located in the state of Texas; and about 12,800 miles of interstate natural gas pipeline. The company sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
At the end of Tuesday’s trade, Energy Transfer Partners LP (NYSE:ETP)‘s shares surged 0.65% to $50.83.
Sunoco LP (SUN) in partnership with an associate of its parent company, Energy Transfer Partners, L.P. (ETP).
Sunoco LP (SUN) declared recently that one of its wholly owned auxiliaries has reached a contract to purchase a wholesale motor fuel distribution business serving the Northeastern United States for about $57 million plus the value of inventory on hand at the time of closing.
The business distributes about 55 million gallons a year of branded and unbranded gasolines, counting Sunoco-branded fuels. As part of the transaction, SUN’s partner will also acquire 30 fee and leased properties — counting company-owned, dealer-operated and consignment sites — in addition to supply contracts with dealer-owned and operated sites.
The purchase will complement SUN’s existing wholesale fuel distribution business in the Northeastern U.S. SUN plans to integrate the new business quickly and efficiently into its extensive fuel distribution network presently serving 30 states. The transaction is predictable to be right away accretive to SUN with respect to distributable cash flow.
Energy Transfer Partners, L.P. engages in the natural gas midstream, and intrastate transportation and storage businesses in the United States. The company’s Intrastate Transportation and Storage segment transports natural gas from various natural gas producing areas, in addition to through its ET fuel system and HPL system. This segment owns and operates about 7,700 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas. Its Interstate Transportation and Storage segment provides natural gas transportation and storage services; owns and operates about 12,800 miles of interstate natural gas pipeline; and has interests various natural gas pipelines. The company’s Midstream segment gathers, compresses, treats, blends, processes, and markets natural gas in various basins and shales in Texas, New Mexico, West Virginia, and Louisiana. This segment owns and operates about 7,200 miles of natural gas and natural gas liquid (NGL) gathering pipelines.
Resource Capital Corp. (NYSE:RSO), ended its Tuesday’s trading session with 2.40% gain, and closed at $3.41.
Resource Capital Corp. (NYSE: RSO) (the “Company”) declared that its newly formed partner, Resource Capital Corp. 2014-CRE4, Ltd. (the “Issuer”), will issue $223.735 million of non-recourse, floating-rate notes (“Offered Notes”) at a weighted average cost of LIBOR +171 basis points. The Offered Notes comprise $179.927 million of Class A Notes, rated Aaa by Moody’s Investors Services, Inc. which will be issued at a coupon of LIBOR +140 basis points and $43.81 million of Class B Notes, rated Baa3 by Moody’s, which will be issued at a coupon of LIBOR +300 basis points. The Offered Notes are collateralized by floating rate commercial real estate first mortgage loans originated by wholly-owned auxiliaries of the Company. The Company will retain the subordinated notes and the preferred shares in the transaction, totaling $89.2 million, or 28.5% of the deal. The transaction is predictable to close on or about August 20, 2015 subject to the satisfaction of customary closing conditions.
This transaction continues the Company’s practice of term financing its lightly transitional floating rate whole loan originations through its proven access to the CRE CLO market. Dave Bloom, Head of Real Estate for the Company said, “Recently we declare the pricing of our fourth securitization, RSO CRE 2015-4. We are again extremely happy with the support that the institutional investment community has demonstrated in the credit quality of our loans through the successful execution of this transaction just two days after announcing its launch. During a period of noteworthy volatility for similar transactions, our execution at a weighted average cost of LIBOR+171 provides ongoing validation by the market of our ability to originate and structure high quality, floating rate, transitional loans. With this transaction RSO has successfully match-funded over $1.4 Billion of our self-originated whole loans in under 20 months. We are achieving a record pace of new loan originations and look forward to accessing the CRE CLO market as a known and trusted issuer on a regular basis.”
Resource Capital Corp., a diversified real estate investment trust, primarily focuses on originating, holding, and managing commercial mortgage loans and other commercial real estate-related debt and equity investments in the United States. The company invests in commercial real estate-related assets, such as first mortgage loans; first preceding interests in first mortgage real estate loans; subordinate interests in first mortgage real estate loans; mezzanine debt; commercial mortgage-backed securities; commercial real estate; and residential mortgage loans and mortgaged-backed securities.
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