On Friday, Shares of Comstock Resources Inc (NYSE:CRK), gained 15.87% to $2.19.
Comstock Resources, declared that its Board of Directors has adopted a net operating loss carryforwards rights plan in a measure to prevent the imposition of noteworthy limitations under Section 382 of the Internal Revenue Code on Comstock`s ability to utilize its existing NOLs to reduce its future tax liabilities.
Use of the Company`s federal NOLs, which totaled about $528 million as of June 30, 2015, could be substantially limited if Comstock experiences an “ownership change” as defined in Section 382 of the Internal Revenue Code. In general, an ownership change occurs if there is a cumulative change in a company`s ownership by “5% percent shareholders” (also defined in Section 382 of the Internal Revenue Code) that improvements by more than 50 percentage points over the lowest percentage owned by such stockholders at any time during the preceding three years on a rolling basis. Comstock noted that the Rights Plan is designed to serve the interests of all stockholders by preserving the availability of its NOLs, and it is similar to plans adopted by other companies with noteworthy NOLs.
Comstock Resources, Inc., an independent energy company, acquires, develops, explores, and produces oil and natural gas properties in the United States. Its oil and gas operations are primarily located in East Texas/North Louisiana and South Texas.
Shares of Sonic Corporation (NASDAQ:SONC), inclined 4.71% to $24.43, during its last trading session.
Sonic Corporation, the nation’s largest chain of drive-in restaurants, presented the Troy Smith Hall of Fame Award to franchisee Ted Kergan of Lafayette, La.-based Kergan Brothers Inc. at the 2015 SONIC Convention in Kansas City, Mo., earlier this month. Named after SONIC’s founder, the Troy Smith Hall of Fame Award is SONIC’s most prestigious award, and is given to a franchisee that has worked with SONIC for a noteworthy duration and has made a noteworthy contribution in terms of leadership, growth, positive influence and brand image.
“Ted is well-respected among his franchisee peers in SONIC and he is a source of great leadership and inspiration to his fellow franchisees, colleagues and partners,” said Clifford Hudson, CEO of Sonic Corp. “Ted’s character and integrity define him, and his generous spirit, development of others and successfully confronting adversity captures the spirit of a Troy Smith Hall of Fame Award recipient. He has assisted develop the brand over the years and assisted make it what it is recently.”
Kergan Brothers, Inc. owns and operates 54 SONIC Drive-Ins in the Alexandria, Baton Rouge, Acadiana and New Orleans markets in Louisiana. Kergan works with his team to continually push toward the aim of providing his guests with an amazing SONIC experience.
Sonic Corp. operates and franchises a chain of quick-service drive-in restaurants in the United States. As of March 13, 2015, the company operated 3,517 restaurants in 44 states.
Finally, VeriFone Systems Inc (NYSE:PAY), ended its last trade with 3.33% gain, and closed at $28.25.
Verifone Systems, and P97 Networks, declared that P97’s PetroZone Mobile Commerce and Digital Marketing Platform has been certified to integrate with Verifone’s cloud-based POS and site administration software solutions—providing gas stations and convenience stores a combined, fully integrated solution for mobile payment acceptance in-store and at the pump.
P97’s PetroZone solution provides merchants with a 360° mobile marketing and commerce platform that supports mobile payments, digital offers and customer rewards in addition to integration with loyalty hosts. With P97’s mobile payment processing application (MPPA), which is based on the Conexxus Mobile standard, gas stations and convenience stores can support “branded” mobile apps that enable consumers to take advantage of loyalty programs, discounts, and frequent shopper reward programs. P97’s mobile payment applications provide consumers with an easy and fast onboarding process, counting the registration of payment credentials and loyalty cards through an isolated and secure channel connected to their mobile wallet, also called a “token vault.” Integrating this tokenized mobile commerce platform with Verifone’s solutions enables P97 to provide the highest level of security and PCI compliance.
VeriFone Systems, Inc. designs, markets, and services electronic payment solutions at the point of sale (POS) worldwide. It provides countertop electronic payment systems that accept card payment options, such as NFC, mobile wallets, chip and PIN, and contactless payments, in addition to support credit and debit card, EBT, EMV, and other PIN-based transactions; and a portfolio of application libraries and development tools.
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