On Tuesday, Shares of United Continental Holdings Inc (NYSE:UAL), gained 1.48% to $57.53.
United Continental Holdings declared that it has named Oscar Munoz as president and chief executive officer. Munoz will also continue to serve on United’s board of directors. The board designated Henry L. Meyer III, United’s lead independent director, to serve as non-executive chairman of the board of directors. The company also declared that Jeff Smisek has stepped down from his roles as chairman, president and chief executive officer, and as a director. These changes are effective right away.
Munoz brings to this role deep and broad experience in the transportation industry and large consumer brands counting AT&T, PepsiCo and The Coca-Cola Company. He most recently served as president and chief operating officer of CSX Corporation.
Henry Meyer, non-executive chairman of the board of directors of United Continental Holdings, Inc. said, “Oscar’s track record demonstrates that he has the right blend of planned vision and strong leadership to continue United’s upward trajectory. United is well positioned to continue executing on its planned plan to further improve performance and the value and service it provides to its customers. I’m honored to have been elected non-executive chairman by my fellow directors. The board thanks Jeff for his service to both United Airlines and Continental Airlines.”
United Continental Holdings, Inc., together with its auxiliaries, provides air transportation services in North America, the Asia-Pacific, Europe, the Middle East, Africa, and Latin America. It transports people and cargo through its mainline operations, which use jet aircraft with at least 118 seats, and its regional operations.
Shares of Continental Resources, Inc. (NYSE:CLR), inclined 0.88% to $30.99, during its last trading session.
Continental Resources declared plans to spend about $300 to $350 million less than its formerly approved capital budget for 2015 to better align spending with cash flow at current commodity prices. The Company plans to defer well completion activity, except for where it has contractual considerations or it accomplishes specific planned objectives. Continental is also reducing its operated rig count in the Bakken from 10 to eight rigs by the end of the month.
“While we do not believe today’s low commodity prices are sustainable long term, we are committed to living within cash flow until they recover,” said Harold Hamm, Chairman and Chief Executive Officer. “We are reducing capital expenditures to protect our balance sheet and to preserve the value of our world-class assets until commodity prices improve.”
Continental Resources, Inc. explores, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil production to end users, in addition to midstream marketing companies or crude oil refining companies at the lease.
Finally, Dominion Resources, Inc. (NYSE:D), ended its last trade with 2.22% gain, and closed at $68.72.
Dominion, declared that it has agreed to enter into a partnership with SunEdison, Inc. (SUNE), in which it would sell 33 percent of its ownership in 425 megawatts of solar generating capacity for about $300 million, subject to working capital and certain other adjustments. Under the terms of the agreement, SunEdison has a future option to buy all or a portion of Dominion’s remaining 67 percent ownership.
Comprised in the agreement are 24 projects in California, Connecticut, Georgia, Indiana, Tennessee and Utah. Fifteen of the projects entered service in 2013 and 2014. The remaining projects either have been accomplished or have predictable in-service dates in 2015. All have long-term power purchase agreements with local electricity providers.
Dominion anticipates paying down debt with the cash proceeds. The transaction will require approval by the Federal Energy Regulatory Commission.
Dominion Resources, Inc. produces and transports energy in the United States. The company operates through three segments: Dominion Virginia Power (DVP), Dominion Generation, and Dominion Energy.
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