During Wednesday’s Current trade, Shares of Green Brick Partners Inc (NASDAQ:GRBK), gain 6.85% to $11.70.
Green Brick Partners, Inc. (GRBK) declared the pricing of a registered underwritten public offering of 17 million shares of its common stock at a price to the public of $10.00 per share.
The net proceeds of the offering, which are predictable to be about $165.6 million, or about $173.5 million if the underwriters exercise in full their option to purchase up to 841,500 additional shares of common stock (in each case, after deducting underwriting discounts and estimated offering expenses), will be used to repay indebtedness outstanding under the Company’s term loan facility by and among the Company and associates of Greenlight Capital, Inc. and for working capital and general corporate purposes.
Credit Suisse and Citigroup are joint book-running managers for the offering. JMP Securities is acting as co-manager for the offering. The Company has granted the underwriters a 30-day option to purchase up to 841,500 additional shares of the Company’s common stock.
Green Brick Partners, Inc. engages in the home building business in the United States. It operates through two segments, Builder Operations and Land Development. The company is involved in the land acquisition and development, entitlements, design, construction, marketing, and sale of various residential projects, such as town, single family, and luxury homes in master planned communities; development of lots for public and large private builders; and construction lending business. It owns or controls about 4,200 home sites in the Dallas and Fort Worth, Texas, in addition to Atlanta, Georgia.
Shares of Sunoco Logistics Partners L.P. (NYSE:SXL), inclined 0.26% to $38.10, during its current trading session.
Sunoco Logistics Partners L.P. (SXL) is willing to construct a second pipeline as a part of its Mariner East II development.
Hence, the partnership is predictable to build two pipelines co presently to carry natural gas liquids (NGL) which contain propane, butane and ethane to the Marcus Hook Industrial Complex from the Marcellus Shale area. Both pipelines will spread over 350 miles.
Sunoco Logistics already got a shipper’s commitment before for the first new pipeline which will likely have a 20-inch diameter and an estimated transportation capacity of 275,000 barrels per day. The first pipeline will be operational by 2016 end.
It is to be noted, that through Nov 2016, the dayrate for one rig is $71,000. For the remaining period of the rig’s charter, the dayrate is anticipated to come down to $42,000 each day. Moreover, the other jackup’s initial day rate per day will likely be $71,000 through Feb 2018. After that, the rate will decrease to $42,000 for the remaining period.
Last month, Paragon Offshore stated first-quarter 2015 results. Earnings per share came at 47 cents, surpassing the Zacks Consensus Estimate of 28 cents. However, the bottom line slipped from the year-ago comparable quarter figure of $1.47.
Sunoco Logistics Partners L.P. transports, terminals, and stores crude oil, refined products, and natural gas liquids (NGLs). It operates through four segments: Crude Oil Pipelines, Crude Oil Acquisition and Marketing, Terminal Facilities, and Products Pipelines. The Crude Oil Pipelines segment transports crude oil primarily in Oklahoma and Texas. It contains about 5,300 miles of crude oil trunk pipelines, in addition to about 500 miles of crude oil gathering lines.
ACE Limited (NYSE:ACE), during its Wednesday’s current trading session gained 4.40% to $106.22.
ACE Limited (ACE) declared the launch of a new online tool, ACE EZQuote that allows independent agents and brokers to generate an exact and bindable quote for boats in less than four minutes. Accessible through its ACE Recreational Marine Insurance® business, ACE EZQuote works for almost all types of boats less than 27 feet in length.
Key features of ACE’s new quoting tool for boats less than 27 feet in length comprise:
- Most quotes can be accomplished in less than four minutes.
- The quotes are exact and do not require additional information before binding.
- If necessary, quotes in process can be saved and accomplished at a later time.
- “Smart data fields” appear or disappear to maximize efficiency. For example, fields for Trailer coverage will only appear on the Policy Issuance screen if a Trailer was indicated on the Vessel/Coverage screen.
- Premium for different limits and deductibles can be contrast side by side.
- With just a few additional clicks, a quote letter, binder or application can be emailed to the client.
ACE Limited, through its auxiliaries, provides a range of property and casualty insurance and reinsurance products worldwide. The company’s Insurance North American P&C segment offers casualty insurance, environmental, inland marine, professional risk, disaster protection, vacant land and building, and claims and risk administration services; homeowners, automobile, valuables, umbrella liability, and recreational marine insurance; and wholesale excess and surplus lines property, casualty, environmental, professional liability, inland marine, and product recall coverages. Its Insurance North American Agriculture segment provides comprehensive multiple peril crop insurance and crop-hail insurance; and farm and ranch coverages, in addition to specialty P&C coverages for companies that manufacture, process, and distribute agriculture products.
Finally, CarMax, Inc (NYSE:KMX), gained 0.57%, to $66.61.
CarMax, Inc. (KMX) stated record results for the first quarter ended May 31, 2015.
Net sales and operating revenues raised 7.1% to $4.01 billion.
Used unit sales in comparable stores raised 4.9%.
Total used unit sales rose 9.3%.
Total wholesale unit sales raised 4.7%.
CarMax Auto Finance (CAF) income raised 15.3% to $109.1 million.
Net earnings grew 7.3% to $182.0 million. Net earnings per diluted share rose 13.2% to $0.86.
First Quarter Business Performance Review
Sales. Total used vehicle unit sales grew 9.3% and comparable store used unit sales raised 4.9% as compared to the prior year’s first quarter. Comparable store used unit sales benefited from a combination of factors, counting improved conversion and continued growth in customer traffic.
Wholesale vehicle unit sales grew 4.7% as compared to the first quarter of fiscal 2015. Wholesale unit sales benefited from the growth of our store base, partially offset by a decline in our vehicle buy rate.
Other sales and revenues raised 14.3% year-over-year. Extended protection plan revenues rose 12.5% as compared to the prior year’s quarter, primarily due to the growth in our retail unit sales. Net third-party finance fees were relatively flat contrast with last year’s first quarter, reflecting the net effect of changes in mix among providers and the overall enhance in units sold. Vehicles financed by the Tier 3 providers and those comprised of in the CAF loan origination test represented 14.5% of retail unit sales in the current quarter as compared to 16.1% in the corresponding prior year period.
CarMax, Inc., through its auxiliaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, counting domestic and imported vehicles; sells vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and provides extended protection plans to customers at the time of sale. In addition, the company offers reconditioning and vehicle repair services; and provides financing alternatives for retail customers across a range of credit spectrum through its CarMax Auto Finance and arrangements with other financial institutions. .
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