On Thursday, Copart, Inc. (NASDAQ:CPRT)’s shares inclined 2.92% to $35.56.
Copart, Inc. (CPRT) declared it has commenced a modified “Dutch Auction” tender offer to purchase up to 13,888,888 shares of its common stock at a purchase price not greater than $36.00 nor less than $34.75 per share. The number of shares projected to be purchased in the tender offer represents about 11.0% of the 126,522,148 shares of Copart common stock presently outstanding. The last stated trading price of Copart common stock on the NASDAQ Global Select Market on June 3, 2015 was $34.55 per share.
The tender offer will expire at 5:00 p.m. New York City time on July 6, 2015, unless extended by Copart. Tenders of Copart’s common stock must be made prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration of the tender offer. The tender is subject to conditions and other terms set forth in the tender offer materials that are being distributed to stockholders and filed with the Securities and Exchange Commission (SEC) recently.
Copart, Inc. provides online auctions and vehicle remarketing services. The company offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology to vehicle sellers, primarily insurance companies, banks and financial institutions, charities, car dealerships, fleet operators, and vehicle rental companies.
Packaging Corp Of America (NYSE:PKG)’s shares dropped -0.48% to $68.17.
Packaging Corp Of America (PKG) declared the appointment of Robert P. (Bob) Mundy as Senior Vice President and Chief Financial Officer effective September 1, 2015. Mr. Mundy will start his employment with PCA on July 1, 2015. He has served as Verso Corporation’s Senior Vice President and Chief Financial Officer since 2006. Before that, he worked for more than 20 years with International Paper Company in various positions of increasing responsibility. Richard B. (Rick) West, PCA’s CFO since 1999, will remain an employee of PCA in an advisory capacity through his planned retirement date of March 1, 2016.
PCA is the fourth largest producer of containerboard and corrugated packaging products in the United States and the third largest producer of uncoated freesheet paper in North America. PCA operates eight paper mills and 94 corrugated products plants and related facilities.
Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States, Europe, Mexico, and Canada. The company’s Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that assist to merchandise the packaged product in retail locations; and honeycomb protective packaging.
At the end of Thursday’s trade, Sigma-Aldrich Corporation (NASDAQ:SIAL)‘s shares dipped -0.08% to $138.54.
Sigma-Aldrich Corporation (SIAL) declared that the National Institute of Standards and Technology (NIST) has selected Sigma-Aldrich as the first licensed distributor of NIST Standard Reference Materials® (SRMs). This agreement enables Sigma-Aldrich to further expand its global analytical product line and make NIST reference materials readily accessible to customers worldwide. Sigma-Aldrich and NIST will also collaborate to develop new Standard Reference Materials for quantitative Nuclear Magnetic Resonance (qNMR).
NIST’s 1,300 Standard Reference Materials are used to perform instrument calibrations and measurement validation as part of overall quality assurance programs to verify the accuracy of specific measurements and to support the development of new measurement methods. Industry, academia, and government organizations use NIST SRMs to facilitate commerce and trade and to advance research and development.
Sigma-Aldrich Corporation, a life science and high technology company, develops, manufactures, purchases, and distributes various chemicals, biochemicals, and equipment products worldwide. The company provides chemical products, reagents, and kits and services are used in scientific research, counting genomic and proteomic research, biotechnology, pharmaceutical development, and diagnosis of disease; and as key components in pharmaceutical, diagnostics, and high technology manufacturing. It offers media and critical raw materials for industrial cell culture, contract manufacturing services, pharmaceutical safety testing services, and organometallic precursors for semiconductor manufacturing.
McGraw Hill Financial Inc (NYSE:MHFI), ended its Thursday’s trading session with -1.45% loss, and closed at $102.09.
A division of McGraw Hill Financial (MHFI), Platts is based in London with more than 1000 employees in more than 15 offices worldwide.
Prices in the $3-trillion-plus global petrochemicals market climbed another 4% month over month in May, for a fourth month of rebound following six successive months of falling prices. Petrochemical prices, expressed as a monthly average, raised $41 per metric ton (/mt) from April to $1,093/mt in May, according to the just-released monthly Platts Global Petrochemical Index (PGPI).
The PGPI is a benchmark basket of seven widely used petrochemicals and is published by Platts, a leading global provider of energy, petrochemicals, metals and agriculture information and a top source of benchmark price references.
Crude oil prices were up 8% in May from April and naphtha prices were up 6%. Olefins prices tend to track naphtha prices, given that naphtha is the most widely used cracker feedstock worldwide.
Petrochemicals are used to make plastic, rubber, nylon and other consumer products and are utilized in manufacturing, construction, pharmaceuticals, aviation, electronics and nearly every commercial industry.
The PGPI reflects a compilation of the daily price assessments of physical spot market ethylene, propylene, benzene, toluene, paraxylene, low-density polyethylene (LDPE) and polypropylene as published by Platts and is weighted by the three regions of Asia, Europe and the United States. Used as a price reference, a gauge of sector activity, and a measure of comparison for determining the profitability of selling a barrel of crude oil intact or refining it into products, the PGPI was first published by Platts in August 2007.
McGraw Hill Financial, Inc. provides benchmarks and ratings, analytics, data, and research services for the capital, commodities, and commercial markets worldwide. It operates in four segments: Standard & Poor’s Ratings Services (S&P Ratings), S&P Capital IQ, S&P Dow Jones Indices (S&P DJ Indices), and Commodities & Commercial (C&C). The S&P Ratings segment provides credit ratings, research, and analytics to the investors, corporations, governments, municipalities, commercial and investment banks, insurance companies, asset managers, and other debt issuers.
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