On Monday, Shares of NOW Inc (NYSE:DNOW), lost -2.09% to $19.19.
NOW Inc., declared that it has reached an agreement to purchase Odessa Pumps and Equipment, Inc. Terms of the all-cash transaction, which remains subject to customary closing conditions, counting regulatory approval, were not revealed.
Robert Workman, President and CEO of NOW Inc., commented, “The addition of Odessa Pumps and Equipment not only offers Distribution NOW the ability to expand our products and services offerings to our key energy customers in areas where both firms presently operate, but also gives us the opportunity to leverage Odessa Pumps’ business model, expertise and manufacturer relationships within the extensive DNOW infrastructure not presently serviced by Odessa Pumps to grow our customer participation organically. In addition to the results we can deliver by working together in the energy sector, both company’s downstream, industrial and municipal businesses will benefit from the strengths of each firm.”
NOW Inc. distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, electrical products, artificial lift solutions, mill tools, safety supplies, and spare parts, in addition to provides application systems and parts integration, optimization solutions, and after-sales support services.
Shares of SM Energy Co (NYSE:SM), declined -3.56% to $41.98, during its last trading session.
SM Energy Co, declared the acquisition of certain Ark-LA-Tex assets from SM Energy Company (SM). Terms of the negotiated transaction were not revealed.
SM Energy’s Ark-LA-Tex assets comprise about 76,300 net acres with current net production of 29 MMcfe/d, 98 percent of which is gas. With this acquisition purchased in partnership with RedBird, Aethon now manages assets in the Ark-LA-Tex area producing about 56 MMcfe/d. The collective reserve base is low risk, long life, and cash producing with considerable upside optionality.
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America.
Finally, TD Ameritrade Holding Corp. (NYSE:AMTD), ended its last trade with -0.78% loss, and closed at $36.97.
TD Ameritrade, was releasing the Investor Movement Index reading for June 2015. The Investor Movement Index, or the IMXsm, is a proprietary, behavior-based index created by TD Ameritrade that aggregates Main Street investor positions and activity to measure what investors are actually doing and how they are positioned in the markets.
The June 2015 Investor Movement Index for the four weeks ending June 26, 2015, reveals:
- Reading: 5.32 (contrast to 4.91 in May)
- Trend direction: Positive
- Trend length: 2 months
- Score relative to historic ranges: Moderately High
TD Ameritrade Holding Corporation provides securities brokerage services and related technology-based financial services to retail investors, traders, and independent registered investment advisors (RIAs) in the United States.
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