On Tuesday, Sears Holdings Corp (NASDAQ:SHLD)’s shares declined -6.15% to $36.61.
Sears Holdings Corp (SHLD) declared that Seritage Growth Properties has commenced a rights offering for at least 53,298,899 Class A common shares of Seritage following a Registration Statement on Form S-11 (the “Registration Statement”) filed with the Securities and Exchange Commission (the “SEC”). The SEC declared the Registration Statement which effected on June 9, 2015.
Under the terms of the rights offering, Sears Holdings is distributing to its stockholders, at no charge, one transferable subscription right for every share of Sears Holdings common stock held of record as of 5:00 p.m., New York City time, on June 11, 2015, the formerly declared record date. Each subscription right entitles the holder thereof to purchase one half of one common share of Seritage for each share of Sears Holdings common stock owned as of the record date at a purchase price of $29.58 per whole share. In addition to being able to purchase their pro rata portion of the shares offered based on their ownership as of the record date for the rights offering, Sears Holdings stockholders may oversubscribe for additional Seritage common shares as described in the Registration Statement.
The proceeds from the rights offering will be used to fund a portion of the purchase price for the acquisition from Sears Holdings of 235 Sears- and Kmart-branded stores and Sears Holdings’ 50% interests in joint ventures with each of Simon Property Group, Inc., General Growth Properties, Inc. and The Macerich Company, which joint ventures collectively hold an additional 31 properties.
Sears Holdings Corporation operates as a retailer in the United States. It operates in two segments, Kmart and Sears Domestic. The Kmart segment operates retail stores that offer a range of products, counting consumer electronics, seasonal merchandise, outdoor living, toys, lawn and garden equipment, food and consumables, and apparel; and in-store pharmacies.
Canadian Solar Inc. (NASDAQ:CSIQ)’s shares dropped -3.01% to $31.23.
Canadian Solar Inc. (CSIQ) takes note of the European Commission’s decision to withdraw the acceptance of the Company’s Undertaking but confirms its belief that it duly complied with all its terms and conditions.
Despite the arbitrary nature of the Undertaking text that caused interpretation confusion and implementation complications, Canadian Solar believes that it has always conducted all its business in the EU in compliance with the Undertaking. The Company strongly believes that this decision lacks merit and is arbitrary without giving due consideration to the Company’s cooperation with EU Commission. The Company is presently reviewing its legal options.
The decision by the European Commission will not impact the Company’s second quarter and full year 2015 guidance. Canadian Solar remains well positioned to continue serving all present and future customers in Europe from its Global solar operations.
Canadian Solar Inc., together with its auxiliaries, designs, develops, manufactures, and sells solar wafers, cells, and solar power products worldwide. The company operates in two segments, Module and Energy. Its products comprise various solar modules that are used in residential, commercial, and industrial solar power generation systems.
At the end of Tuesday’s trade, Archer Daniels Midland Company (NYSE:ADM)‘s shares showed no change to $51.01.
Archer Daniels Midland Company (ADM) is temporarily halting production at its biodiesel plant in Leer in Germany because of uncertainty about the future of biodiesel in the country, it said on Tuesday.
The company said it would reassess biodiesel market requirements in the third quarter of this year.
Enthusiasm for biofuels in Germany and other European Union countries has waned, with Germany scaling back usage targets in past years.
In June 2014, EU energy ministers agreed to limit production of biofuels made from food crops, responding to criticism they stoke inflation and do more environmental harm than good.
ADM has not given the Leer plant’s capacity but market sources say Leer produces around 120,000 tonnes annually. ADM said it had no plans to idle other biodiesel plants in Germany.
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities and products. The company’s Oilseeds Processing segment originates merchandises, crushes, and processes soybeans and soft seeds into vegetable oils and protein meals.
AOL, Inc. (NYSE:AOL), ended its Tuesday’s trading session with -0.14% loss, and closed at $50.00.
AOL, Inc. (AOL) will be a dynamically programmed, mobile-first, personalized content experience. Building off a 93.8% year-over-year enhance in video views,[1] AOL.com is also ongoing to transform into a video-driven destination and accelerating video programming with the new AOL.com experience.
The updated AOL.com was designed mobile-first to assist better serve the new audience visiting AOL.com from across devices, as mobile UVs have grown 79.5% since June 2014 and now represent 37.8% of AOL.com’s traffic[2]. The new AOL.com is open with a deliberate and progressive strategy to engage various levels of content creators to drive raised engagement and new audiences. From premium content partners to next-generation creators, in addition to content published and trending across social platforms, AOL.com is a vehicle for all users to consume and engage with the most relevant stories of the moment.
AOL Inc. provides various digital brands, products, and services to consumers, advertisers, publishers, and subscribers worldwide. Its Brand Group segment offers original content produced by journalists, politicians, celebrities, academics, policy experts, freelance writers, and bloggers; curated content; curated and aggregated content from third parties; and user-generated content through AOL.com and The Huffington Post, and related sites, in addition to through Engadget and TechCrunch branded properties.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
