During Tuesday’s Current trade, Shares of Pilgrim’s Pride Corporation (NASDAQ:PPC), lost -0.77% to $22.43.
Pilgrim’s Pride Corporation (PPC) declared that its Board of Directors has approved a new $150.0 million share repurchase authorization for its common stock over the next 12 months, reinforcing the Company’s commitment to creating shareholder value and the strength of Pilgrim’s balance sheet and operating cash flow.
The Company plans to implement its stock repurchase program through various means, which may comprise but are not limited to open market purchases, privately negotiated transactions, the use of derivative instruments and/or accelerated share repurchase programs. The extent to which the Company repurchases its shares and the timing of such repurchases will vary and depend upon market conditions and other corporate considerations, as determined by the Company’s administration team. The Company reserves the right to limit or terminate the repurchase program at any time without notice.
Pilgrim’s Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products to retailers, distributors, and foodservice operators in the United States, Mexico, and Puerto Rico. It offers fresh chicken products comprising pre-marinated or non-marinated, and prepackaged refrigerated (nonfrozen) whole or cut-up chicken in various combinations of refrigerated whole chickens and chicken parts.
Shares of Crescent Point Energy Corp (NYSE:CPG), declined -6.65% to $13.61, during its current trading session.
Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (CPG) (CPG) confirms that the dividend to be paid on August 17, 2015, in respect of July 2015 production, for shareholders of record on July 31, 2015, will be CDN$0.23 per share.
These dividends are designated as “eligible dividends” for Canadian income tax purposes. For U.S. income tax purposes, Crescent Point’s dividends are considered “qualified dividends.”
Crescent Point’s shareholders may elect to receive dividend payments in the form of cash or common shares.
Crescent Point Energy Corp. acquires, explores, develops, and produces oil and natural gas properties in Western Canada and the United States. The company’s oil and natural gas properties, and related assets are located in the provinces of Saskatchewan, Alberta, and Manitoba; and the states of North Dakota, Montana, Colorado, and Utah. Crescent Point Energy Corp. is headquartered in Calgary, Canada.
Franco-Nevada Corporation (NYSE:FNV), during its Tuesday’s current trading session decreased -0.58% to $42.81.
Franco-Nevada Corporation (FNV) stated second quarter 2015 financial results realizing 83,040 Gold Equivalent Ounces (“GEOs”)(1) from its mineral assets and $10.3 million in revenue from its oil & gas assets. Net Income and Adjusted Net Income(2) were $21.6 million, or $0.14 per share, and $22.9 million, or $0.15 per share, respectively, with Adjusted EBITDA(3) being $82.2 million, or $0.53 per share.
Corporate Updates
- Credit Facility:On May 22, 2015, Franco-Nevada amended its credit facility which raised the amount accessible to $750.0 million and extended the maturity to May 2020.
- Candelaria:On July 29, 2015, Franco-Nevada and Lundin Mining Corporation (“Lundin”) finalized certain post-closing items with Franco-Nevada making an additional and final $7.5 million payment due to an enhance in the reserves under the stream agreement.
- Ring of Fire:On April 28, 2015, Franco-Nevada attained royalty rights in the Ring of Fire mining district of Ontario by providing $28.5 million in loan and royalty financing to Noront Resources Ltd.
- Karma:True Gold Mining Inc. declared it had resumed construction at its Karma project and anticipates its first gold pour at the end of Q1 2016. Franco-Nevada has funded $54.4 million of the $90.0 million committed under the stream agreement.
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, and internationally. It also has interests in silver assets and polymetallic exploration prospects; platinum group metal, counting palladium; other minerals, such as base metals, iron ore, coal, and industrial and miscellaneous minerals; and oil and gas properties. As of March 25, 2015, the company had interests in 246 mineral assets and 137 oil and gas assets. Its proved reserves is 22,899 thousand barrels of oil equivalent.
Finally, Amkor Technology, Inc. (NASDAQ:AMKR), decreased -2.79%, to $4.36.
Amkor Technology, Inc. (AMKR), a leading provider of semiconductor packaging and test services, recently declared financial results for the second quarter ended June 30, 2015.
Based upon presently accessible information, we have the following expectations for the third quarter 2015:
- Net sales of $700 million to $750 million, down 5% to up 2% from the preceding quarter
- Gross margin of 13% to 16%
- Net loss of $7 million to net income of $14 million, or ($0.03) to $0.06 per share
Amkor Technology, Inc. provides outsourced semiconductor packaging and test services in the United States, China, Ireland, Japan, Singapore, Taiwan, Thailand, and internationally. The company offers turnkey packaging and test services, counting semiconductor wafer bumps, wafer probes, wafer backgrinds, package design, packaging, and test and drop shipment services. Its packages employ wirebond, flip chip, and copper clip interconnect technologies; and leadframe and substrate package carriers are used for various testing services.
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