During Wednesday’s current trade, Starwood Property Trust, Inc. (NYSE:STWD)’s shares declined -2.21% to $23.90.
Today, STWD declared the pricing of an underwritten public offering of 12,000,000 shares of its ordinary stock for total estimated gross proceeds of about $286 million (or about $329 million if the option to purchase additional shares is exercised in full). The underwriters have a 30-day option to purchase up to an additional 1,800,000 shares from the Company. Settlement of the offering is subject to customary closing conditions and is predictable to occur on April 20, 2015. All of the shares will be issued under the Company’s presently effective shelf registration statement filed with the Securities and Exchange Commission.
The Company intends to use the net proceeds received from the offering to originate and purchase additional commercial mortgage loans and other target assets and investments, counting to fund a portion of the purchase price for the Company’s pending attainment of a portfolio of properties in Dublin, Ireland. The Company may also use a portion of the net proceeds for other general corporate purposes, counting, but not limited to, the payment of liabilities and other working capital needs.
Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are serving as joint book-running managers for the offering.
Starwood Property Trust, Inc. originates, attains, finances, and manages commercial mortgage loans, other commercial real estate debt investments, commercial mortgage-backed securities, and other commercial real estate-related debt investments in the United States and Europe. It operates in two segments, Real Estate Lending, and Real Estate Investing and Servicing.
During morning trade, Apple Inc. (NASDAQ:AAPL)’s shares declined -0.10% to $126.17.
Yesterday, Apple® declared that it will hold its 26th annual Worldwide Developers Conference (WWDC) June 8 through June 12 at San Francisco’s Moscone West, with more sessions than ever before streamed to developers. At WWDC, Apple’s renowned developer community will come together to learn about the future of iOS and OS X®, assisting them continue to create the most innovative apps in the world. WWDC will feature more than 100 technical sessions, over 1,000 Apple engineers, hands-on labs to assist developers integrate new technologies and fine tune their apps, in addition to the Apple Design Awards which showcase the best new apps in the last year.
WWDC 2015 activities comprise:
more than 100 technical sessions presented by Apple engineers on a wide range of topics for developing, deploying and integrating the latest iOS and OS X technologies;
- over 1,000 Apple engineers supporting more than 100 hands-on labs and events to provide developers with code-level assistance, insight into optimal development techniques and guidance on how they can make the most of iOS and OS X technologies in their apps;
- access to the latest innovations, features and capabilities of iOS and OS X, and best practices for enhancing an app’s functionality, performance, quality and design;
- the opportunity to connect with thousands of fellow iOS and OS X developers from around the world—last year more than 60 countries were represented;
- a series of get togethers for attendees focused on particular topics with special guest speakers and activities;
- engaging and inspirational lunchtime sessions with leading minds and influencers from the worlds of technology, science and entertainment; and
- Apple Design Awards which recognize iPhone®, iPad®, Apple Watch™ and Mac® apps that demonstrate technical excellence, innovation and outstanding design.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications. It offers iPhone, a line of smartphones that comprise a phone, music player, and Internet device; iPad, a line of multi-purpose tablets; Mac, a line of desktop and portable personal computers; and iPod, a line of portable digital music and media players, such as iPod touch, iPod nano, and iPod shuffle.
Facebook, Inc. (NASDAQ:FB), during its Wednesday’s current trading session lost -1.02%, to $82.66.
SunTrust said Facebook Inc (FB) will report strong Q1 earnings, based on “positive industry data and checks.” The analysts noted that advertising proceeds may fall quarter-over-quarter; however, proceeds will simultaneously show “strong mobile pricing and volumes.”
The analysts have a $90 price target on the stock, with a Buy rating.
On the other hand, according to Reuters, The Frankfurt-listed shares of Internet companies Yahoo and Facebook outperformed those of rival Google, after media reports that Google would face anti-trust action from the European Union.
The European Union will accuse Google Inc on Wednesday of abusing its dominant position in Internet searches, opening the U.S. tech company up to a risk of massive fines and enforced changes in its business model, stated the Financial Times and Wall Street Journal.
However, two sources familiar with the matter told Reuters that a formal antitrust charge sheet will not be ready for Wednesday and could take several more months to draw up. The EU can impose fines of up to 10 percent of global turnover, or more than $6 billion in penalties in Google’s case.
Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications.
Finally, JPMorgan Chase & Co. (NYSE:JPM), gained 1.55% Wednesday, hitting its highest level today.
Yesterday, JPM declared a quarterly dividend on the outstanding shares of each of the corporation’s following preferred stock issues:
- 50% Non-Cumulative Preferred Stock, Series O - $137.50 per share (equivalent to $0.34375 per related Depositary Share).
- 45% Non-Cumulative Preferred Stock, Series P - $136.25 per share (equivalent to $0.340625 per related Depositary Share).
- 70% Non-Cumulative Preferred Stock, Series T - $167.50 per share (equivalent to $0.41875 per related Depositary Share).
- 30% Non-Cumulative Preferred Stock, Series W - $157.50 per share (equivalent to $0.39375 per related Depositary Share).
- 125% Non-Cumulative Preferred Stock, Series Y - $185.4513889 per share (equivalent to $0.463628472 per related Depositary Share).
The dividend payment date is Monday, June 1, 2015, to stockholders of record at the close of business on May 4, 2015.
JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
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