On Monday, Shares of Magnum Hunter Resources Corp. (NYSE:MHR), surged 70.91% to $1.33.
Magnum Hunter Resources Corporation could close two major deals by the end of August that will raise some noteworthy cash, according to American City Business Journals.
The company anticipates to generate more than $500 million by selling its interest in its Eureka Hunter Midstream pipeline system. That could happen in as soon as three weeks, although a longer timeline is possible.
The other deal is more likely to close sooner. A joint venture partnership for its Utica shale acreage should close early this week, executives from the Texas shale driller told analysts Friday in a second-quarter earnings call. It would bring in $450 million. American City Business Journals Reports
Both transactions have been in the works for months. Magnum Hunter (NYSE:MHR) has 200,000 acres under lease in the Utica and Marcellus shale plays. It has often made headlines for natural gas wells with huge production results and, more recently, for its attempts to meet a cash-raising obligation. American City Business Journals added.
Magnum Hunter Resources Corporation, an independent oil and gas company, explores for, exploits, acquires, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States.
Shares of Bristol-Myers Squibb Company (NYSE:BMY), inclined 0.76% to $63.89, during its last trading session.
Bristol-Myers Squibb Company declared a charitable donation to The Leukemia & Lymphoma Society (LLS). The donation will provide financial assistance for chronic myeloid leukemia (CML) patients who need assist paying for Polymerase Chain Reaction (PCR) testing, an important tool used in the diagnosis and monitoring of CML. The donation will also support LLS CML awareness activities focused on educating patients, caregivers and healthcare providers about the importance of continued monitoring with PCR testing.
The PCR test is used both in the diagnosis of CML and to monitor for cancerous cells after treatment has begun. It is the most sensitive testing method accessible, with the ability to detect a single cancerous cell among one million healthy cells. Recommendations suggest that a CML patient should receive a PCR test every three months for the first three years after diagnosis, and every three to six months thereafter based on how well their treatment is working. The average cost of a PCR test is $345 and can be as high as $500 per test. The program will assist insured and uninsured patients with out-of-pocket costs for PCR testing. The donation will also fund national CML awareness activities that will be undertaken by LLS’s 56 chapters, in addition to grassroots efforts through local networks of patients, volunteers and healthcare institutions.
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
Finally, The Gap, Inc. (NYSE:GPS), ended its last trade with 1.06% gain, and closed at $35.26.
The Gap stated that net sales for the four-week period ended August 1, 2015 were $1.12 billion contrast with net sales of $1.17 billion for the four-week period ended August 2, 2014. For the second quarter of fiscal year 2015, Gap Inc.’s net sales reduced 2 percent to $3.90 billion contrast with $3.98 billion for the second quarter last year.
On a constant currency basis, net sales for the second quarter of fiscal year 2015 were about flat as compared to last year.1 The company noted that the translation of foreign currencies into U.S. dollars negatively influenced the company’s stated net sales for the second quarter of fiscal year 2015 by about $100 million, primarily due to the weakening Japanese yen and Canadian dollar.
July Comparable Sales Results
Gap Inc. comparable sales for July 2015 were down 3 percent as compared to a 2 percent enhance last year. Comparable sales by global brand for July 2015 were as follows:
- Gap Global: negative 7 percent as compared to negative 2 percent last year
- Banana Republic Global: negative 10 percent as compared to positive 6 percent last year
- Old Navy Global: positive 3 percent as compared to positive 3 percent last year
The Gap, Inc. operates as an apparel retail company worldwide. It offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brand names.
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