On Friday, Shares of Sunedison Inc (NYSE:SUNE), lost -3.01% to $9.02. The stock attained the volume of 19.04 million shares.
SunEdison, Inc. (SUNE) declared that it has begun construction on a 2.8 megawatt (MW) solar project for eight schools in the Montgomery County Public School system in Maryland.
The eight solar power plants are predictable to deliver about $200,000 of savings per year at current utility rates. The systems are projected to generate enough electricity each year to power more than 260 homes and avoid the emission of more than 5 million pounds of carbon dioxide, the equivalent of removing 500 cars from the road.
Construction of the first phase of the 2.8 MW solar project is targeted for completion in the fourth quarter of 2015. Operation and maintenance of the solar power plants will be performed by SunEdison Services, which provides global asset administration, monitoring and reporting services.
SunEdison, Inc. develops, manufactures, and sells silicon wafers to the semiconductor industry. The company operates through three segments: Solar Energy, TerraForm Power, and Semiconductor Materials.
At the end of Friday’s trade, Shares of Citigroup Inc (NYSE:C), declined -0.51% to $52.70.
Citigroup Inc. stated net income for the third quarter 2015 of $4.3 billion, or $1.35 per diluted share, on revenues of $18.7 billion. This contrast to net income of $2.8 billion, or $0.88 per diluted share, on revenues of $19.7 billion for the third quarter 2014.
CVA/DVA was $196 million ($127 million after-tax) in the third quarter 2015, contrast to negative $371 million (negative $228 million after-tax) in the preceding year period. Not Taking Into Account CVA/DVA, revenues were $18.5 billion, down 8% from the preceding year period, and earnings were $1.31 per diluted share, up 38% from preceding year earnings of $0.95 per diluted share.
Michael Corbat, Chief Executive Officer of Citigroup, said, “The quarter had more than its fair share of volatility and our results speak to the resilience of our franchise globally. And despite revenue headwinds, we once again proved our ability to manage our risk, our expenses and our capital. We remain on track to deliver our full-year efficiency and ROA targets. I feel good about the quality and comprising of our earnings over the course of this year, as we have continued to make solid progress against our core preceding ties.
Citigroup Inc., a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions worldwide. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
Finally, Shares of Schlumberger Limited. (NYSE:SLB), ended its last trade with -2.19% loss, and closed at $74.50.
Schlumberger Limited (SLB) stated results for the third quarter of 2015.
Schlumberger Chairman and CEO Paal Kibsgaard commented, “Schlumberger third-quarter revenue reduced 6% sequentially driven by a ongoing decline in rig activity and persistent pricing pressure throughout our global operations. North America revenue fell 4% sequentially as we focused on balancing margins and market share, while International revenue dropped 7% due to customer budget cuts, activity disruptions, and service pricing erosion.
Other Events
During the third quarter, Schlumberger repurchased 6.9 million shares of its common stock at an average price of $78.76 per share for a total purchase price of $545 million. As of September 30, 2015, Schlumberger had repurchased $8.2 billion of shares under the $10 billion share repurchase program authorized by the Board of Directors on July 18, 2013.
On August 26, 2015, Schlumberger and Cameron jointly declared that they had reached a definitive merger agreement in which Cameron will merge with an indirect wholly-owned partner of Schlumberger in a stock-and-cash transaction. The transaction was unanimously approved by the boards of directors of both companies. Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share outstanding. Upon closing, Cameron shareholders will own about 10% of Schlumberger’s outstanding shares of common stock.
Schlumberger Limited supplies technology, integrated project administration, and information solutions to the oil and gas exploration and production industries worldwide. The company operates through Reservoir Characterization Group, Drilling Group, and Production Group segments.
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