During Monday’s Afternoon trade, Shares of Halliburton Company (NYSE:HAL), gained 0.14% to $43.91, despite oil prices fell Monday, erasing earlier gains, on continued uncertainty about Greek debt negotiations and concerns about the oversupplied global crude market.
Light, sweet crude for July delivery recently fell 52 cents, or 0.9%, to $59.09 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 42 cents, or 0.7%, to $62.60 a barrel on ICE Futures Europe. WSJ Reports.
Halliburton Company provides a range of services and products to the upstream oil and natural gas industry worldwide. The company operates through two segments, Completion and Production, and Drilling and Evaluation.
Shares of Texas Instruments Inc. (NASDAQ:TXN), inclined 1.24% to $55.19, during its current trading session.
Today, on the fifth anniversary of its first LaunchPad development kit, Texas Instruments (TI) (TXN) declared the low-cost C2000™ Delfino™ F28377S microcontroller (MCU) LaunchPad development kit, the first LaunchPad for the Delfino line of MCU. Based on TI’s C2000 Delfino F28377S MCU, the LaunchPad offers 200 MHz of 32-bit floating-point performance, newly integrated accelerators, in addition to high-integrity analog and control peripherals for $29.99. The LaunchPad is compatible with the Digital Power BoosterPack and Motor Drive BoosterPack and offers a variety of software support to further ease development. The Delfino LaunchPad dramatically reduces the barriers of entry for development of high-performance control systems in digital power, solar, motor control and industrial drives applications.
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates through two segments, Analog and Embedded Processing.
Finally, ARMOUR Residential REIT, Inc. (NYSE:ARR), is flat and is now trading at $2.95.
ARMOUR Residential REIT, declared that it anticipates to enhance common stock dividends in Q3 2015 and that its Board of Directors has approved a reverse stock split of ARMOUR’s outstanding shares of common stock at a ratio of one-for-eight.
One-for-Eight Reverse Stock Split
The reverse stock split is planned to take effect at about 5:00 p.m. Eastern Time on July 31, 2015 (the “Effective Time”). At the Effective Time, every eight issued and outstanding shares of common stock of the Company will be converted into one share of common stock of the Company. In addition, at the Effective Time, the number of authorized shares of common stock will also be reduced on a one-for-eight basis. The par value of each share of common stock will remain unchanged. Trading in ARMOUR’s common stock on a split adjusted basis is predictable to start at the market open on August 3, 2015. ARMOUR’s common stock will continue trading on the NYSE under the symbol “ARR” but will be assigned a new CUSIP number. The Company believes that existing stockholders will benefit from the ability to attract a broader range of investors as a result of the reverse stock split and a higher per share stock price. In this regard, the Company notes that the average book value of ARMOUR’s common stock over the last five trading sessions was about $4.00 per share, which is about 28% above last night’s closing price of $2.87.
As a result of the reverse stock split, the number of outstanding shares of ARMOUR’s common stock will be reduced from about 350,000,000 to about 43,750,000. Concurrently, the authorized number of shares of common stock will be reduced from 1,000,000,000 to 125,000,000.
ARMOUR Residential REIT, Inc. invests in and manages a portfolio of residential mortgage backed securities in the United States. The company is managed by ARMOUR Capital Administration LP.
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