On Tuesday, Hartford Financial Services Group Inc(NYSE:HIG)’s shares inclined 2.64% to $45.90.
Hartford Investment Administration Company (HIMCO), a partner of The Hartford (HIG), declared that it has designated John Melvin as managing director and head of portfolio administration, effective Sept. 14, 2015. Melvin will report to Brion Johnson, president of HIMCO.
The Hartford Financial Services Group, Inc., through its auxiliaries, provides insurance and financial services to individual and business customers primarily in the United States. The company’s Commercial Lines segment offers workers compensation, property, automobile, marine, umbrella, liability, and livestock coverages, in addition to customized insurance products and risk administration services, counting professional liability, bond, and specialty casualty coverages. Its Personal Lines segment provides standard automobile, homeowners, and personal umbrella coverages to individuals.
3M Co(NYSE:MMM)’s shares gained 2.56% to $143.42.
3M Food Safety declared that its 3M™ Molecular Detection Assay 2 – Listeria monocytogenes has been approved by the AOAC® Performance Tested MethodsSM program (Certification 081501). The approval certifies that the next generation test kit is now equivalent or better than standard reference methods.
Achieving AOAC PTM status required a rigorous, independent laboratory examination of 3M’s unique molecular test method’s ability to accurately detect Listeria monocytogenes within a variety of foods. Food samples analyzed during the validation study comprised of beef hot dogs, queso fresco cheese, vanilla ice cream, 4 percent milk fat cottage cheese, 3 percent chocolate whole milk, romaine lettuce, bagged raw spinach, cold smoked salmon, deli turkey, raw chicken, cantaloupe, and various environmental surfaces (plastic, stainless steel, concrete).
3M Company operates as a diversified technology company worldwide. Its Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; filtration products; closure systems for personal hygiene products; acoustic systems products; automotive components; abrasion-resistant films; structural adhesives; and paint finishing and detailing products.
At the end of Tuesday’s trade, RLJ Lodging Trust (NYSE:RLJ)‘s shares surged 4.66% to $28.06.
RLJ Lodging Trust ( RLJ ) stated results for the three and six months ended June 30, 2015.
Highlights
- Pro forma RevPAR raised 5.0%, Pro forma ADR raised 6.4%, and Pro forma Occupancy reduced 1.3%.
- Pro forma RevPAR raised 8.6% not taking into account New York and Houston.
- Pro forma Hotel EBITDA Margin raised 32 bps to 39.3%; 135 bps not taking into account New York and Houston.
- Pro forma Merged Hotel EBITDA raised 7.6% to $116.5 million.
- Adjusted FFO raised 4.7% to $98.1 million.
- Repurchased 2.0 million shares for $59.8 million.
RLJ Lodging Trust is an independent equity real estate investment trust. The firm also manages real estate funds. It invests in the real estate markets of the United States. The firm primarily invests in premium-branded, focused service, and compact full-service hotels. RLJ Lodging Trust was launched in 2000 and is domiciled in Bethesda, Maryland.
ONEOK, Inc.(NYSE:OKE), ended its Tuesday’s trading session with 2.88% gain, and closed at $36.42.
ONEOK, Inc. (OKE) declared that it has priced an offering to sell $500 million of 7.50 percent senior notes due 2023. The notes will be issued under ONEOK’s existing shelf registration statement formerly filed with the U.S. Securities and Exchange Commission.
The net proceeds, after deducting underwriting discounts and estimated expenses, are predictable to be about $487.1 million. ONEOK anticipates to use the proceeds and cash on hand to purchase additional common units from ONEOK Partners, L.P. (OKS) in a private placement. Funds managed by Kayne Anderson Capital Advisors, L.P. also will purchase $100 million of common units from ONEOK Partners conpresently with ONEOK’s purchase.
ONEOK is the parent company of ONEOK Partners GP, L.L.C. (General Partner), the sole general partner of ONEOK Partners. Following the common unit purchases, ONEOK’s and the General Partner’s aggregate ownership interest in ONEOK Partners will enhance to 41.2 percent from 36.8 percent.
ONEOK, Inc., through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company gathers, treats, fractionates, stores, and transports natural gas liquids (NGL), in addition to owns natural gas liquids gathering and distribution pipelines, natural gas liquids distribution and refined petroleum products pipelines, and terminal and storage facilities; and owns and operates interstate and intrastate regulated natural gas transmission pipelines and natural gas storage facilities, in addition to stores and distributes NGL products to petrochemical manufacturers, heating fuel users, ethanol producers, refineries, and propane distributors.
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