During Monday’s Current trade, Shares of KEMET Corporation (NYSE:KEM), gain 0.67% to $3.00.
KEMET Corporation (KEM), a leading global supplier of electronic components, honored patent recipients, in addition to others who take partd in the patent process, during its Patent Awards Luncheon on May 28, 2015. Plaques representing the twenty new patents joined those already on display on the Patent Wall at KEMET’s U.S. Innovation Center in Simpsonville, South Carolina.
KEMET was granted a record number of twenty U.S. patents in Fiscal Year 2015. In addition to the new patents, KEMET innovation has driven more than 12,000 new products and a stream of new processes and platform releases in the last year emerging from its 33 PhDs, 501 engineers and global innovation centers.
Also honored was Jeff Poltorak, Technical Expert, Equipment Engineering, who was named KEMET Featured Inventor of the Year for his contributions towards tantalum anode equipment design in addition to manufacturing methods and equipment for KEMET’s newest surface mount polymer aluminum capacitor product line.
KEMET Corporation, together with its auxiliaries, manufactures and sells various capacitors under the KEMET brand worldwide. The company operates through two segments, Film and Electrolytic Business Group and Solid Capacitors Business Group. Its products comprise tantalum capacitors, multilayer ceramic capacitors, film capacitors, electrolytic capacitors, paper capacitors, solid aluminum capacitors, and polymer capacitors, in addition to EMI filters.
Shares of CenterPoint Energy, Inc. (NYSE:CNP), inclined 0.78% to $19.50, during its current trading session.
CenterPoint Energy, Inc. (CNP) has elected to make a Reference Share Offer Adjustment and distribute Additional Interest, if any, in accordance with the terms of CenterPoint Energy’s 2.0 percent Zero-Premium Exchangeable Subordinated Notes due 2029 (ZENS) rather than electing to enhance the Early Exchange Ratio to 100 percent during the pendency of Verizon Communications Inc.’s (NYSE, Nasdaq: VZ) tender offer.
Distributions of Additional Interest on the ZENS are therefore predictable to be made by CenterPoint Energy in connection with the consummation of Verizon’s tender offer and the subsequent merger of AOL with a partner of Verizon. CenterPoint Energy’s distribution of Additional Interest in connection with the Reference Share Offer is predictable to be proportionate to the percentage of eligible shares that are validly tendered by AOL stockholders in Verizon’s tender offer.
As of the date of this press release, the Reference Shares for each ZENS note comprise of 0.5 share of Time Warner Inc. common stock, 0.125505 share of Time Warner Cable Inc. common stock, 0.045455 share of AOL Inc. common stock, and 0.0625 share of Time Inc. common stock. After the tender offer and subsequent merger of AOL with a partner of Verizon, the Reference Shares for each ZENS note will comprise of 0.5 share of Time Warner Inc. common stock, 0.125505 share of Time Warner Cable Inc. common stock, and 0.0625 share of Time Inc. common stock.
CenterPoint Energy, Inc. operates as a public utility holding company in the United States. The company’s Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies. As of December 31, 2014, this segment owned 28,282 pole miles of overhead distribution lines and 3,719 circuit miles of overhead transmission lines; 22,435 circuit miles of underground distribution lines and 26 circuit miles of underground transmission lines; and 236 substations with a capacity of 57,477 megavolt amperes.
Corelogic Inc (NYSE:CLGX), during its Monday’s current trading session decreased -2.97% to $39.50.
CoreLogic® (CLGX), a leading global property information, analytics and data-enabled services provider, released new analysis showing 254,000 properties regained equity in the first quarter of 2015, bringing the total number of mortgaged residential properties with equity at the end of Q1 2015 to approximately 44.9 million, or 90 percent of all mortgaged properties. Nationwide, borrower equity increased year over year by $694 billion in Q1 2015. The total number of mortgaged residential properties with negative equity is now at 5.1 million, or 10.2 percent of all mortgaged properties. This compares to 5.4 million homes, or 10.8 percent, that had negative equity in Q4 2014*, a quarter-over-quarter decrease of 4.7 percent. Compared with 6.3 million homes, or 12.9 percent, reported for Q1 2014, the number of underwater homes has decreased year over year by 1.2 million, or 19.4 percent.
Negative equity, often referred to as “underwater” or “upside down,” refers to borrowers who owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in value, an enhance in mortgage debt or a combination of both.
For the homes in negative equity status, the national aggregate value of negative equity was $337.4 billion at the end of Q1 2015, falling about $11.7 billion from $349.1 billion in Q4 2014. On a year-over-year basis, the value of negative equity declined overall from $388 billion in Q1 2014, representing a decrease of 13 percent in 12 months.
CoreLogic, Inc. provides property information, analytics, and data-enabled services in North America, Western Europe, and the Asia Pacific. The company operates through two segments, Technology and Processing Solutions and Data & Analytics (D&A). The Technology and Processing Solutions segment offers property tax monitoring, flood zone certification and monitoring, credit services, mortgage loan administration and production services, lending solutions, mortgage-related business process outsourcing, technology solutions and compliance-related services.
Finally, Cousins Properties Inc (NYSE:CUZ), gained 0.99%, to $10.72.
Cousins Properties Inc (CUZ) inked a lease renewal deal with Transocean Ltd. for 255,413 square feet of space at Greenway Plaza in Houston, TX. The deal reflects solid demand for the company’s properties.
Transocean occupies the entire 4 Greenway Plaza and the above mentioned deal fully renews its current occupied space at the building, postponing the lease expiration to Jan 2023 from Jan 2017. The company also occupies an additional space of 13,552 square feet at 3800 Buffalo Speedway in Greenway Plaza, the lease for which expires in Jan 2017.
Notably, this international provider of offshore contract-drilling services for energy companies is the fourth largest customer in Cousins’ Houston portfolio. Following the above mentioned renewal, the Houston portfolio’s weighted average lease term presently stands at around 7 years with no single lease greater than 100,000 square feet expiring until Dec 2018.
This alleviates the company’s lease exposure in Houston for quite some time and ensures a steady source of rental revenues. Encouragingly, with the Transocean renewal, the leasing at Greenway Plaza now stands at 90%.
Cousins Properties Incorporated, a real estate investment trust (REIT), owns, develops, and manages real estate portfolio, in addition to performs certain real estate-related services in the United States. The company operates through four divisions: Office/Multi-Family, Retail, Industrial, and Land. The Office/Multi-Family division develops and manages office projects primarily in Austin, Dallas, Charlotte, Birmingham, and Atlanta; develops and sells multi-family projects in urban locations in the southeastern United States; and manages and leases office properties owned by third parties.
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