During Wednesday’s Afternoon trade, Shares of SunEdison, Inc. (NYSE:SUNE), lost -0.53% to $31.96, hitting its highest level.
SunEdison, declared that they have teamed up to deliver a solar plus storage system to the municipal utility Silicon Valley Power. This project is part of an ongoing planned partnership between SunEdison and Green Charge Networks to deliver additional electricity savings to commercial and municipal customers throughout Calif.
In California, the electricity bills for commercial and municipal customers typically have both energy charges and demand charges. By combining the benefits of solar and energy storage, SunEdison and Green Charge are able to generate savings on both portions of a customer’s bill. Solar delivers savings by reducing the amount of electricity drawn from the grid. Energy storage addresses the demand portion of the bill, and produces savings by reducing the amount of power needed at one time from the grid.
Silicon Valley Power, the municipal utility serving the City of Santa Clara, is the first joint customer of the new partnership. The solar plus storage system is located at the Tasman Drive parking structure next to the new football stadium. To date, the SunEdison solar system at the Tasman Drive parking structure has generated more than 1.18 gigawatt hours of clean energy and eliminated the emission of about two million pounds of carbon dioxide. That’s enough electricity to power 112 homes for a year, and is the equivalent of taking more than 170 cars off the road.
SunEdison, Inc. develops, manufactures, and sells silicon wafers to the semiconductor industry. The company operates through three segments: Solar Energy, TerraForm Power, and Semiconductor Materials.
Shares of Cigna Corp. (NYSE:CI), inclined 0.40% to $165.41, during its current trading session.
Cigna Corp., confirmed it received a highly conditional, non-binding proposal from Anthem, Inc. (ANTM) on June 20, 2015.
Cigna’s Board of Directors has carefully reviewed this proposal consistent with the company’s continued focus on maximizing shareholder value and creating differentiated value for its customers, clients and other stakeholders in a dynamic, rapidly-evolving healthcare environment.
Based on a number of factors in the proposal and unaddressed concerns regarding the ability to achieve the benefits of a potential combination, the Cigna Board has unanimously determined the proposal is inadequate and not in the best interests of Cigna’s shareholders.
Cigna’s mission is to improve the health, well-being and sense of security of the people we serve. Effective execution of our focused strategy has driven a compriseent track record of strong financial performance and successful shareholder value creation. Since implementing its “Go Deep, Go Global, Go Individual” strategy over five years ago, Cigna has delivered compound annual growth of 14% for revenues and 13% for adjusted income from operations.
As a result, Cigna’s share price rose almost 200% in the five years startning December 31, 2009. Anthem shares, however, significantly lagged the performance of both Cigna and the Managed Care peer group (as defined in Anthem’s most recent proxy statement) in the same period.
Morgan Stanley is acting as Cigna’s financial advisor, and Cravath, Swaine & Moore is acting as legal advisor to Cigna.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. The company’s Commercial segment offers insured and self-insured customers medical, dental, behavioral health, and vision, in addition to prescription drug benefit plans, health advocacy programs, and other products and services.
Finally, U.S. Bancorp (NYSE:USB), lost -0.50%, and is now trading at $44.88.
U.S. Bank is investing $5.6 million in the construction of a new, nearly $20 million medical facility for the Northern Nevada HOPES clinic that will care for an additional 400 patients a month, counting for the first time, primary pediatric care.
The clinic, which is operating out of a modular building at 580 W. Fifth St., is under construction now and is slated to be accomplished by December. The new 37,500-square-foot building will span three stories and be named for its benefactor “The Stacie Mathewson Community Wellness Center.”
“The new HOPES clinic will be Reno’s first integrated care facility, where patients will have access to a wide range of medical and wellness services in one location,” said HOPES CEO Sharon Chamberlain.
It will become a “medical home” for 10,000 patients a year, the vast majority of whom are low-income or homeless individuals. A medical home is akin to a traditional physician’s office where all non-urgent care starts and is coordinated.
HOPES performed a needs assessment of its area downtown and found that there is a tremendous shortage of medical providers (3,952 patients for every provider).
U.S. Bancorp, a financial services holding company, provides a range of financial services in the United States. It offers depository services, which comprise checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products, in addition to credit card services, leasing, financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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