During Thursday’s trade, Shares of Twitter, Inc. (NYSE:TWTR), gained 1.34% to $25.74.
A foundation controlled by Twitter co-founder Evan Williams and his wife, Sara, raised $46.7 million in November from the sale of Twitter shares that he apparently gifted to the organization, according to a new public filing.
The filing shows that Obvious LLC, a company Evan Williams controls, on Nov. 27 gave away nearly 2.8 million shares of Twitter stock for $0 apiece. At Tuesday’s closing price, those shares would have been worth $70.8 million.
The Sara & Evan Williams Foundation conpresently attained 1.85 million of those shares at no cost, according to the Securities and Exchange Commission filing. USA TODAY Reports
Twitter, Inc. operates as a global platform for public self-expression and conversation in real time. It offers various products and services for users, counting Twitter that allows users to create, distribute, and discover content; and Vine and video, a mobile application that enables users to create and distribute short looping videos.
Shares of United States Steel Corp. (NYSE:X), inclined 1.74% to $7.88, during its current trading session.
United States Steel Corporation, has declared that its legal department has been named to The Legal 500’s GC Powerlist: U.S. Teams, which honors the best in-house legal departments in the United States.
“Our legal department is deeply honored by this recognition, all the more so as it validates the efforts that we are making as part of the U. S. Steel team to reestablish the global prominence of this iconic company,” said Suzanne Folsom, General Counsel, Chief Compliance Officer, and Senior Vice President – Government Affairs. “We are likewise grateful to U. S. Steel’s leadership team, which has empowered us to work creatively and cooperatively with our business units.”
This is the U. S. Steel legal department’s third major award this year. The group was recognized as the winner for both General Excellence and Diversity in The Legal Intelligencer’s Best Legal Departments earlier in 2015.
United States Steel Corporation produces and sells flat-rolled and tubular steel products in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
Finally, Fifth Third Bancorp (NASDAQ:FITB), lost -0.43%, and is now trading at $20.66.
Fifth Third Bancorp - On December 2, 2015, Vantiv, Inc. (VNTV) conducted a secondary offering of 13.4 million shares of its Class A Common Stock on behalf of Fifth Third (Nasdaq: FITB). The offering was the culmination of a three-step process detailed below that comprised 1) the partial cancellation of the warrant held by Fifth Third to purchase additional ownership in Vantiv Holding, LLC for a $200 million cash payment; 2) the net exercise of a portion of the remaining warrant for 5.4 million Class C units; and 3) the exchange of these 5.4 million Class C units and 8 million Class B units for the 13.4 million shares of Vantiv, Inc. Class A Common Stock comprised in the secondary offering.
During the fourth quarter, Fifth Third anticipates to recognize a pre-tax gain of about $419 million (about $273 million after tax) related to the ownership interests comprised in these transactions.
These transactions are in line with Fifth Third’s aim of monetizing the remaining portion of its stake in Vantiv over time.
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through four segments: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. The Commercial Banking segment offers credit intermediation, cash administration, and financial services; lending and depository products; and foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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