On Thursday, Genesee & Wyoming Inc(NYSE:GWR)’s shares declined -0.17% to $64.63.
Genesee & Wyoming Inc. (G&W) (GWR) stated traffic volumes for July 2015.
Based on G&W’s noteworthy enhance in operations in the U.K. and continental Europe resulting from the acquisition of the London-based Freightliner Group Limited (Freightliner) in March 2015, G&W is now presenting traffic information in three reportable segments: North American Operations, Australian Operations and U.K./European Operations.
Historically, G&W has found that traffic information may be indicative of freight revenues on its railroads. Freight revenues are revenues for which G&W is paid on a per car, per container or per ton basis to move freight. Activities such as railcar switching, port terminal shunting, traction services and other similar freight-related services are excluded from our traffic information as the resulting revenues are not classified as freight revenue. Traffic information may not be indicative of total operating revenues, operating expenses, income from operations or net income.
G&W’s three reportable segments are summarized as follows:
- The North American Operations segment is comprised of nine operating regions in the U.S. and Canada. This segment represents about 57% of G&W’s total operating revenues and about 75% of G&W’s total income from operations.
- The Australian Operations segment is comprised of G&W’s existing operations in Australia and the newly-attained Freightliner Australia operations. This segment represents about 12% of G&W’s total operating revenues and about 14% of G&W’s total income from operations. Revenues from Freightliner’s Australia operations are not stated as freight revenues and therefore are not comprised of in this traffic report.
Genesee & Wyoming Inc. owns and operates short line and regional freight railroads, and provides railcar switching and other rail-related services. It operates in two segments, North American & European Operations and Australian Operations. The company transport various commodities, counting agricultural products, chemicals and plastics, metals, metallic ores, coal and coke, minerals and stones, pulp and paper, intermodal commodities, petroleum products, food and kindred products, autos and auto parts, wastes, and other commodities.
Westport Innovations Inc. (USA) (NASDAQ:WPRT)’s shares gained 5.28% to $3.59.
Westport Innovations Inc. (WPRT), and Fuel Systems Solutions, Inc. (FSYS), recently jointly declare that the companies have reached a merger agreement to create a premier alternative fuel vehicle and engine company. The transaction will result in a combined equity value of $351 million based on the closing trading prices for the shares of both companies on August 31, 2015 and combined annual revenues ranging from $380 to $405 million projected for 2015. The combined company will benefit from complementary product solutions, and a fortified global footprint, with efficient operations and a core focus in developing next generation technology. The merger combines 17 brands in the automotive and industrial space and will allow customers and stakeholders to benefit from the consolidation of technologies, and the expansion of product portfolios, OEM relationships, and global distribution netoperates. The new entity will conduct business in more than 70 countries, represent a combined 100 years of experience and will trade on both the TSX and Nasdaq under the Westport Fuel Systems name, ticker symbol Nasdaq: WPRT and TSX: WPT, with a new business unit called Fuel Systems Automotive and Industrial Group. The companies’ respective boards of directors have unanimously approved this transaction.
Under the terms of the merger, Westport will acquire all of the outstanding shares of Fuel Systems common stock in a stock-for-stock transaction under which Fuel Systems shareholders will receive 2.129 Westport shares for each share of Fuel Systems common stock they own at closing, representing a 10% premium to Fuel Systems shareholders based on the closing trading prices of Westport’s and Fuel Systems’ shares on August 31, 2015 or an implied value to Fuel Systems shareholders of $7.54 per share. Following closing, existing Westport shareholders will hold about 64% of the combined company and Fuel Systems shareholders 36% of the combined company on a fully diluted basis. The transaction is subject to regulatory approvals, counting expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. The transaction is also subject to the required approval of both Fuel Systems and Westport’s shareholders. To date, shareholders owning 34% of Fuel Systems and 15% of Westport outstanding shares have each agreed to vote their shares in favor of the merger. Subject to the satisfaction of closing conditions and receipt of required approvals, the companies anticipate closing the transaction in the 4th quarter of 2015. Westport and Fuel Systems will operate as separate companies until that time.
Westport Innovations Inc. provides low-emission engine and fuel system technologies utilizing gaseous fuels. The company’s technology and products enable light, medium, heavy-duty, and high horsepower petroleum-based fuel engines and vehicles to use primarily natural gas and alternative fuels. It designs, manufactures, and sells compressed natural gas, liquefied petroleum gas, and liquefied natural gas (LNG) components and subsystems to original equipment manufacturers.
At the end of Thursday’s trade, Tribune Media Co (NYSE:TRCO)‘s shares surged 0.72% to $39.22.
CareerBuilder declared that it has attained a majority stake in Textkernel, a leading-edge software company providing semantic recruitment technology to the global market. The acquisition further supports CareerBuilder’s evolution into an HR software as a service provider and enables Textkernel to accelerate its global growth.
Based in Amsterdam, Textkernel is leading innovation in the field of AI, machine learning and natural language processing in the HR domain. At the core of what Textkernel does is semantic search, which studies the intent and contextual meaning behind words. Employers and job seekers often use different words or phrases to describe the same thing when they type in a search box, write job descriptions or build their resumes/CVs. Textkernel’s advanced technology takes into account language patterns to pinpoint what the user really means in order to provide the best search results.
CareerBuilder works with the world’s top employers, providing job distribution, sourcing, workflow, CRM, data and analytics in one pre-hire platform. Owned by TEGNA Inc. (TGNA), Tribune Media (TRCO) and The McClatchy Company (MNI), CareerBuilder and its auxiliaries operate in the United States, Europe, South America, Canada and Asia. For more information, visit www.careerbuilder.com.
Tribune Media Company, through its auxiliaries, operates as a media and entertainment company in the United States. The company operates through two segments, Television and Entertainment, and Digital and Data. The Television and Entertainment segment provides news, entertainment, and sports programming through Tribune Broadcasting local television stations, counting FOX television associates, CW television associates, CBS television associates, ABC television associates, NBC television associates, and independent television stations; and television series and movies on WGN America, a national general entertainment network.
Expedia Inc (NASDAQ:EXPE), ended its Thursday’s trading session with -0.43% loss, and closed at $112.89.
Expedia, Inc. (EXPE) declared that it has selected award-winning architecture firm Bohlin Cywinski Jackson (BCJ) to design its new 40-acre waterfront campus in Seattle. Expedia plans to relocate to the new campus in the City of Seattle from its current location in downtown Bellevue by 2018.
Expedia’s future campus is ideally situated at the north end of Seattle’s waterfront, which is in the midst of a billion dollar redevelopment and re-emergence as a world-class park, and located just minutes from downtown Seattle and along the Elliott Bay shoreline. It is also steps from the Seattle Art Museum’s 8.5-acre outdoor sculpture park and Myrtle Edwards Park.
The 50-year-old firm is highly-regarded for its elegant, innovative and responsive design, in addition to its ability to bring these attributes to a wide range of client projects and building types. The firm recently designed technology company Square’s new 100,000 sq. ft. corporate headquarters in San Francisco and is the lead design firm for several Apple retail stores, counting its stunning Fifth Avenue store in New York. Locally, BCJ designed Seattle City Hall with Bassetti Architects and the Ballard Library. The firm was also hand-selected by Steve Jobs to design Pixar’s open, collaborative corporate headquarters in 1999.
Expedia, Inc., together with its auxiliaries, operates as an online travel company in the United States and internationally. The company operates in two segments, Leisure and Egencia. It provides travel products and services to leisure and corporate travelers, offline retail travel agents, and travel service providers through a portfolio of brands, counting Expedia.com, Hotels.com, Hotwire.com, Classic Vacations, Travelocity, Expedia Local Expert, Egencia, Expedia CruiseShipCenters, eLong, and Venere.com, in addition to trivago, CarRentals.com, Wotif.com, lastminute.com.au, travel.com.au, Asia Web Direct, LateStays.com, GoDo.com.au, and Arnold Travel Technology. It facilitates the booking of hotel rooms, airline seats, car rentals, and destination services from its travel suppliers, in addition to acts as an agent in the transaction, passing reservations booked by its travelers to the relevant travel providers.
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