On Friday, Shares of CSX Corporation (NYSE:CSX), lost -1.60% to $25.20.
CSX Corporation (CSX) will release fourth-quarter financial and operating results on Tuesday, January 12, 2016, after the market close.
The company will host an earnings conference call from 8:30 a.m. to 9:30 a.m. Eastern Time on Wednesday, January 13, 2016 via teleconference and a live audio webcast.
CSX Corporation, together with its auxiliaries, provides rail-based transportation services in the United States and Canada. It offers traditional rail services, and transports intermodal containers and trailers. The company transports crushed stone, sand and gravel, metal, phosphate, fertilizer, food, consumer, agricultural, automotive, paper, and chemical products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, in addition to exports coal to deep-water port facilities.
Shares of California Resources Corp (NYSE:CRC), declined -0.50% to $1.98, during its last trading session.
California Resources Corporation, declared that it anticipates total average production for the full year 2015 to improvement about one percent to an average of about 160 thousand barrels of oil equivalent per day and crude oil to improvement by about five percent to 104 thousand barrels per day. Cash costs, not taking into account interest charges, are predictable to fall by 11% from 2014 levels and 2015 capital investments are predictable to total about $400 million, enabling CRC to drill and complete 311 wells and invest about $160 million in its infrastructure and facilities.
CRC is actively working on a 2016 budget that will reflect our primary investment tenet of investing within cash flow from operations. Reflecting this principle and the recent further deterioration in oil prices, CRC is releasing both of its contracted drilling rigs in the San Joaquin basin moving into 2016. A rig will be maintained in the Los Angeles basin on an intermittent basis. Despite the drilling rig releases, the company presently intends to maintain a workover fleet of 30 rigs.
CRC continues to focus on its longer term debt reduction target. This month, CRC closed a bond exchange which reduces the principal on its outstanding debt by $563 million while increasing interest by just $21 million per year. CRC has been pursuing multiple transactions to achieve further deleveraging. Detailed negotiations on specific transactions progressed throughout the fourth quarter. However, in light of the recent further drop in commodity prices, we do not expect to declare any further deleveraging transactions in 2015.
California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. It produces oil, natural gas, and natural gas liquids. The company holds interests in about 2.4 million net acres. It also gathers, processes, and markets oil and gas products, in addition to produces and sells power. The company is headquartered in Los Angeles, California.
Finally, Kroger Co (NYSE:KR), ended its last trade with -3.10% loss, and closed at $40.64.
The Kroger Co. (KR) and Roundy’s, Inc. (RNDY), declared the successful completion of Kroger’s tender offer to purchase all outstanding shares of Roundy’s common stock for $3.60 per share in cash. The tender offer expired at 11:59 p.m., Eastern Standard Time, on December 17, 2015.
Kroger anticipates to complete the acquisition of the remaining eligible Roundy’s shares not attained in the tender offer later recently through a merger under Section 251(h) of the General Corporation Law of the State of Delaware.
“This merger blends Roundy’s complementary markets with Kroger’s strengths in scale and merchandising. Our future together is bright, and we look forward to learning from each other as partners,” said Rodney McMullen, Kroger’s chairman and CEO. “Most of all, we want to welcome each of Roundy’s more than 22,000 associates to the Kroger family of stores.”
The Kroger Co., together with its auxiliaries, operates as a retailer in the United States and internationally. It also manufactures and processes food for sale in its supermarkets. The company operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.