On Friday, U.S. stocks traded lower, amid corporate news, after shareholders digested February’s jobs report that indicated an interest rate hike could come sooner rather than later.
Apple will join the Dow Jones industrial average this month, replacing AT&T. Shares of the iPhone maker gained about 2 percent to trade below recent highs, while the wireless services provider fell more than 1 percent.
It’s “good news,” said Kate Warne, investment strategist at Edward Jones. “The Dow should react well, but move a lot different than we’re used to.”
Insights about those Basic Materials Stocks that landed in the Red-Zone during recent trade are depicted underneath:
NGL Energy Partners LP (NYSE:NGL)’s shares declined -5.18%, and is now trading at $27.45.
Today, NGL Energy Partners LP (NGL), declared it has priced its underwritten public offering of 6,250,000 ordinary units representing limited partner interests at $27.57 per ordinary unit. NGL also granted the underwriter a 30-day option to purchase up to 937,500 additional ordinary units. The offering is predictable to close on March 11, 2015, subject to customary closing conditions. NGL intends to use the net proceeds from this offering, counting any net proceeds from the underwriter’s exercise of its option to purchase additional ordinary units, to repay borrowings under its revolving credit facility and for general partnership purposes, counting capital expenditures and potential attainments.
Barclays is acting as the sole underwriter for the offering. When accessible, copies of the preliminary prospectus supplement, prospectus supplement and accorporationing base prospectus regarding the offering may be obtained free of charge on the Securities and Exchange Commission’s website at www.sec.gov or from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (888) 603-5847, or by email at [email protected].
The ordinary units are being offered and sold following an automatically effective shelf registration statement filed with the Securities and Exchange Commission on July 8, 2013. The offering is being made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful preceding to registration or qualification under the securities laws of any such jurisdiction.
NGL Energy Partners LP (NGL) is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with five primary segments: water solutions, crude oil logistics, NGL logistics, refined products/renewables and retail propane.
Newmont Mining Corp (NYSE:NEM), dipped -5.34%, and is now trading at $23.95.
Newmont Mining Corporation (NEM) Indonesian copper export permit will not be renewed beyond March 19 unless it strikes a deal with Freeport-McMoRan Inc to invest in the latter’s planned smelter, a mines ministry official said on Monday.
Southeast Asia’s largest economy is in talks with miners about their plans to develop domestic smelting and processing facilities.
“For an export permit extension for Newmont, we are still awaiting an contract between Freeport and Newmont,” Coal and Minerals Director General Sukhyar told a news conference.
“It will depend how serious Newmont’s commitment to co-operate with Freeport is and how much they will share the investment,” Sukhyar said.
Early last year, Indonesia put in place export restrictions aimed at forcing mining firms to develop smelting and processing facilities so that Indonesia could refine all of its raw ores and concentrates.
Although fellow U.S.-based miner Freeport is pushing ahead with expansion plans at Indonesia’s sole copper smelter at Gresik, Newmont has said multiple studies show its Batu Hijau mine cannot sustain a smelter on its own.
The Indonesian government has long urged the companies to cooperate on a smelter.
Newmont and Freeport, which account for 97 percent of Indonesia’s copper output, could not be reached for comment on Monday. Freeport’s local CEO told Reuters last year that a new smelter would be designed only to take concentrate from its assets.
Newmont is predictable to produce 500,000 tonnes of copper and gold concentrate in 2015 “at most”, up from 400,000 tonnes in 2014, Sukhyar forecast last month.
Newmont Mining Corporation operates in the mining industry. It primarily acquires, develops, explores for, and produces gold, copper, and silver deposits. The company’s operations and/or assets are located in the United States, Australia, Peru, Indonesia, Ghana, and New Zealand.
SandRidge Energy Inc (NYSE:SD), dropped -4.52%, and is now trading at $1.59.
Formerly on February 26, SandRidge Energy, Inc. (SD), posted financial and operational results for the period ended December 31, 2014.
The Corporation closed 2014 with $181 million in cash and about $900 million credit facility availability.
In February 2015, the Corporation’s senior credit facility was amended, and the facility’s borrowing base was set at $900 million. As part of the amendment, the maximum total leverage ratio was suspended until June 30, 2016, and starting March 31, 2015, a maximum senior secured leverage ratio of 2.25x will apply as will a minimum interest coverage ratio. Additionally, the amendment permits the Corporation to incur junior debt in an amount not to exceed $500 million and raises by 0.25% the margin used in the calculation of interest under the senior credit facility. More detailed disclosures regarding the amendment will be comprised of in the Corporation’s Annual Report on Form 10-K.
Full-year 2014 Adjusted G&A cost per Boe down 22% from 2013, from $5.02 to $3.90
Adjusted net revenue accessible to ordinary stockholders, pro forma adjusted EBITDA and adjusted operating cash flow are non-GAAP financial measures.
SandRidge Energy, Inc. (SD) is an oil and natural gas corporation headquartered in Oklahoma City, Oklahoma with its principal focus on exploration and production. SandRidge and its auxiliaries also own and operate gas gathering and processing facilities, saltwater gathering and electrical infrastructure facilities and conduct marketing operations.
Peabody Energy Corporation (NYSE:BTU), dwindled -4.69%, and is now trading at $6.30.
Peabody Energy (BTU) declared the pricing of its offering of 10.000% senior secured second lien notes due 2022 at an issue price of 97.566% of principal amount. Peabody intends to use the net proceeds from the sale of the notes to fund the formerly declared tender offer to purchase for cash any and all of the $650 million aggregate principal amount outstanding of its 7 3/8% Senior Notes due 2016, to fund the redemption or satisfaction and discharge of all 2016 notes that are not tendered in the tender offer and for general corporate purposes, which may comprise the payment of its federal coal lease expenditures. The closing of the sale of the notes, which is subject to market and other customary conditions, is predictable to occur on or about March 16, 2015.
The notes will be secured by a second-priority lien on all of the assets that secure the corporation’s and the guarantors’ obligations under the corporation’s senior secured credit facility, subject to the permitted liens and other limitations.
Peabody Energy is the world’s largest private-sector coal corporation and a global leader in sustainable mining, energy access and clean coal solutions. The corporation serves metallurgical and thermal coal customers in more than 25 countries on six continents.
