On Monday, Shares of Emerson Electric Co. (NYSE:EMR), gained 2.45% to $48.86.
GE Healthcare’s Life Sciences business and Emerson Process Administration, a global business of Emerson, declared a partnership aimed at increasing productivity and improving efficiency in the production of biopharmaceuticals such as monoclonal antibodies and vaccines. The two companies will collaborate to integrate Emerson’s DeltaV™ distributed control system with GE Healthcare’s enterprise offerings and start-to-finish technologies for the global bio manufacturing industry. The first DeltaV-driven GE Healthcare installation, which is predictable to be complete before the end of the year, will be a FlexFactory™, GE’s integrated manufacturing platform based on single-use technologies.
Biopharmaceutical manufacturers are increasingly looking to automate production processes, driven by the industry need to improvement efficiency and reduce costs. GE’s start-to-finish portfolio of single-use bioprocessing technologies already allows manufacturers to reduce set-up times and improvement manufacturing flexibility. Emerson’s DeltaV system, which uses predictive technologies to connect people, processes and production, enables remote monitoring and control from multiple locations across a company’s network and is already widely used in the pharmaceutical industry. The DeltaV system will be offered as an automation control platform for GE’s single-use bio processing offerings.
Emmanuel Ligner, Global Commercial Manager, Bio Process, GE Healthcare Life Sciences, said: “Healthcare providers and the biopharmaceutical industry are facing enormous pressures. Emerson and GE share a vision that an integrated and automated approach to manufacturing has the potential to assist drive improvements in production efficiency of these life-saving medicines. This partnershipwith Emerson, combined with our depth and breadth of expertise in start-to-finish technologies for bioprocessing, promises to bring real benefits to our customers and to healthcare providers worldwide.”
Emerson Electric Co. provides technology and engineering solutions to industrial, commercial, and consumer markets worldwide. It operates through five segments: Process Administration, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
Shares of California Resources Corp (NYSE:CRC), inclined 7.53% to $4.14, during its last trading session.
California Resources Corporation, declared the commencement of private offers to exchange (the “Exchange Offers”), upon the terms and conditions set forth in the offering memorandum, dated November 12, 2015, and the related letter of transmittal, up to $1 billion aggregate principal amount (the “Maximum Exchange Amount”) of its outstanding 5.0% Senior Notes due 2020 (the “5% Notes”), 5.5% Senior Notes due 2021 (the “5½% Notes”) and 6.0% Senior Notes due 2024 (the “6% Notes” and together, the “Old Notes”) held by Eligible Holders (as defined below), for newly issued 8.00% Second Lien Notes due 2022 (the “New Secured Notes”).
The Exchange Offers will expire at 11:59 p.m., New York City time, on December 10, 2015, unless extended by CRC (the “Expiration Date”). For each $1,000 principal amount of Old Notes validly tendered and not validly withdrawn preceding to 5:00 p.m., New York City time, on November 25, 2015 (as it may be extended, the “Early Participation Time”), Eligible Holders will be eligible to receive the “Total Exchange Consideration” set forth in the table below, which comprises the “Early Participation Premium” of $50 in principal amount of New Secured Notes per $1,000 of Old Notes.
California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. It produces oil, natural gas, and natural gas liquids. The company holds interests in about 2.4 million net acres.
Finally, Shares of Rubicon Minerals Corp. (USA) (NYSEMKT:RBY), ended its last trade with -14.95% loss, and closed at $0.149.
Rubicon Minerals Corporation, declared that it has filed its third quarter financial statements for the period ended September 30, 2015. The Company confirms that copies of Rubicon’s interim financial statements and administration negotiation and analysis for the third quarter ended September 30, 2015.
Change in Accounting Policy on Exploration and Evaluation Expenditures
In conjunction with the raised geological complexity of the F2 Gold Deposit, as determined in the trial stoping period, during the period ended September 30, 2015 the Company adopted a voluntary change in accounting policy on exploration and evaluation (“E&E”) expenditures. The Company’s new policy on accounting for E&E expenditures is to expense these costs until such time as the technical feasibility and commercial viability has been established that supports the future development of the Phoenix Gold Project, and such development receives appropriate board approvals. The change in accounting policy has been applied retrospectively to all of the Company’s exploration activities for all properties. See “Changes in Accounting Policies” in the administration negotiation and analysis for the third quarter ended September 30, 2015. The change in accounting policy does not impact the importance, scope or nature of the Company’s ongoing E&E activities.
Rubicon Minerals Corporation engages in the acquisition, exploration, and development of gold properties in Canada and the United States. It primarily holds a 100% interest in Phoenix Gold project comprising of 16 patented mining claims, 25 licenses of occupation, 1 mineral lease, and 1 unpatented mining claim located in Bateman Township, Municipality of Red Lake, Ontario.