On Monday, Shares of CBS Corporation (NYSE:CBS), lost -0.70% to $52.67.
CBS Corporation, declared the pricing of a debt offering of $800 million of 4.00% senior notes due 2026. The sale of the senior notes is predictable to close on July 10, 2015, subject to customary closing conditions.
After deducting fees and expenses related to this offering, CBS intends to use the net proceeds for general corporate purposes, counting among other things, the repurchase of shares of CBS’s outstanding common stock following the Company’s authorized share repurchase program and the repayment of short-term borrowings, counting commercial paper.
CBS Corporation operates as a mass media company worldwide. It operates through four segments: Entertainment, Cable Networks, Publishing, and Local Broadcasting. The Entertainment segment distributes a plan of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and distributes programming, counting series, specials, news, and public affairs; operates online content networks for information and entertainment; and produces, acquires, and distributes theatrical motion pictures.
Shares of Boeing Co (NYSE:BA), declined -2.03% to $141.14, during its last trading session.
Boeing Company, stated second-quarter revenue raised 11 percent to $24.5 billion on record commercial deliveries (Table 1). Second quarter 2015 results comprised of the formerly declared $536 million after-tax charge ($0.77 per share) on the KC-46 Tanker program reflecting higher estimated costs. Core earnings per share (non-GAAP)* guidance for 2015 has been adjusted to between $7.70 and $7.90 per share, from $8.20 and $8.40, to reflect the impact of the second quarter 2015 KC-46 Tanker charge ($0.77 per share), partially offset by strong performance ($0.27 per share). GAAP earnings per share has been adjusted to between $7.60 and $7.80, from $8.10 and $8.30.
“Record commercial airplane deliveries to customers worldwide drove solid revenue growth, and the strength of our overall portfolio and diligent focus produced noteworthyoperating cash flow during the quarter,” said Boeing President and Chief Executive Officer Dennis Muilenburg. “Strong operating performance across our commercial and defense production programs partially offset the tanker charge and enabled us to maintain our commitments to return cash to our shareholders and invest in innovation and our people.”
The Boeing Company, together with its auxiliaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide.
At the end of Monday’s trade, Shares of Xueda Education Group (ADR) (NYSE:XUE), gained 50.31% to $4.81.
Xueda Education Group, declared that it has reached a definitive agreement and plan of merger (the “Merger Agreement”) with Xiamen Insight Investment Co., Ltd. (Shenzhen:000526.SZ), a joint stock company established under the laws of the People’s Republic of China (“Insight”), following which Insight will acquire Xueda (the “Transaction”) for US$2.75 in cash per ordinary share (a “Share”) or US$5.50 in cash per American Depositary Share (an “ADS”) of the Company. The price represents a premium of 95.0% over the Company’s closing price of US$2.82 per ADS on April 17, 2015, the last trading day preceding to April 20, 2015, the date that the Company declared it had received a “going private” proposal from Insight, and a premium of 86.8% and 97.2% to the volume-weighted average price of the Company’s ADSs during the 30 and 60 trading days preceding to April 20, 2015, respectively.
Right away following completion of the Transaction, Insight will own all of the shares of the Company. Certain founders of the Company, (a) Mr. Xin Jin, the Company’s chief executive officer, (b) Mr. Rubin Li, the chairman of the Company’s board of directors (the “Board”) and (c) Mr. Jinbo Yao (collectively, the “Founders”), associated entities through which the Founders beneficially own their Shares, and Insight have reached a support agreement following which each Founder has agreed, among other things, to vote all of the Shares beneficially owned by him in favor of the authorization and approval of the Merger Agreement and the Transaction. The Founders presently beneficially own, in the aggregate, about 58.4% of the outstanding Shares (not taking into account options and restricted share units) of the Company.
Xueda Education Group provides private personalized tutoring services for primary and secondary school students in the People’s Republic of China. The company’s services comprise assessment, consultation, formulation of a customized study plan, personalized tutoring, delivery of student-oriented supporting services, and results.
Finally, Ultra Petroleum Corp. (NYSE:UPL), ended its last trade with -2.28% loss, and closed at $7.73.
Ultra Petroleum Corp., planned the webcast to talk about its second quarter 2015 financial and operating results on July 30, 2015 at 11:00 a.m. Eastern Daylight Time.
Ultra Petroleum Corp., an independent oil and gas company, engages in the acquisition, exploration, development, production, and operation of oil and natural gas properties in the United States.
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