During Wednesday’s Morning trade, Shares of Barclays PLC (ADR) (NYSE:BCS), gained 0.69% to $13.19.
Barclays Bank PLC (“Barclays”) declared an investor guidance notification regarding the iPath® Bloomberg Natural Gas Subindex Total ReturnSM Exchange Traded Notes (the “ETNs”). The ETNs presently trade on the NYSE Arca stock exchange (the “Exchange”) under the ticker symbol “GAZ”. The Index underlying the ETNs is the Bloomberg Natural Gas Subindex Total ReturnSM (the “Index”), with Bloomberg ticker BCOMNGTR. This investor guidance notification follows one declared by Barclays on November 9, 2015 regarding the decline in the daily redemption value of the ETNs.
The daily redemption value of the ETNs on December 16, 2015 hit an all-time low of $0.30 per ETN. At the current time, the daily redemption value of the ETNs would drop to $0 if the Index decreases by another 26% from the Index closing level on December 16, 2015. Additionally, as accrued investor fees in the ETNs grow over time regardless of the performance of the Index, the magnitude of the decrease in the level of the Index required for the daily redemption value of the ETNs to drop to $0 will also reduce progressively.
The Index has practiced another sharp decline since October 29, 2015, with the Ievel of the Index decreasing about 24% in 48 calendar days, in addition to the persistent decline practiced during recent years. Continued weakness in the Henry Hub Natural Gas futures markets may result in a noteworthydecline in the level of the Index in the months ahead, which in turn may result in the daily redemption value of the ETNs declining significantly and potentially to $0.
Barclays PLC, through its auxiliaries, provides various financial products and services worldwide. It offers personal and corporate banking, mortgage, and wealth and investment administration services to individuals and businesses; consumer payments products and services to consumers and merchants; and retail and business banking, corporate and investment banking, and wealth administration and insurance services.
Shares of Qihoo 360 Technology Co Ltd (NYSE:QIHU), declined -0.14% to $72.90, during its current trading session.
Qihoo 360 Technology Co. Ltd. declared that it has reached a definitive merger agreement following which the Company will be attained by a consortium of investors in an all-cash transaction valued at about $9.3 billion, counting the redemption of about $1.6 billion of debt.
Following the terms of the merger agreement, at the effective time of the merger, each of the Company’s class A and class B ordinary shares issued and outstanding right away before the effective time of the merger (the “Shares”) will be cancelled and cease to exist in exchange for the right to receive US$51.33 in cash without interest, and each American Depositary Share (“ADS”) of the Company, every two ADSs representing three class A ordinary shares, will be cancelled in exchange for the right to receive US$77.00 in cash without interest, except for (a) certain Shares (counting Shares represented by ADSs) owned by entities controlled by Mr. Hongyi Zhou, chairman and chief executive officer of the Company, and Mr. Xiangdong Qi, director and president of the Company, and the Company treasury shares, which will be cancelled and cease to exist and no payment or distribution will be made with respect thereto, and (b) Shares held by shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the merger following Section 238 of the Companies Law of the Cayman Islands (the “Dissenting Shares”), which will be cancelled and cease to exist in exchange for the right to receive the payment of fair value of the Dissenting Shares in accordance with Section 238 of the Companies Law of the Cayman Islands.
The merger consideration represents a premium of 16.6% to the closing price of the Company’s ADSs on June 16, 2015, the last trading day before the Company’s declaration of its receipt of a “going-private” proposal, and a premium of 32.7% to the average closing price of the Company’s ADSs during the 30 trading days before its receipt of a “going-private” proposal.
Qihoo 360 Technology Co. Ltd., through its auxiliaries, provides Internet services in the People’s Republic of China. The company operates through Internet Services and Others segments. It offers various Internet security products, counting 360 Safe Guard, a one-stop solution for PC Internet security and system optimization; 360 Anti-Virus, an anti-virus application that uses multiple scan engines to protect users computers against various kinds of malware; and 360 Mobile Safe, a security program for the Google Android, Apple iOS, and Windows Phone smartphone operating systems.
Finally, Bed Bath & Beyond Inc. (NASDAQ:BBBY), lost -5.14%, and is now trading at $48.66.
Bed Bath & Beyond, declared preliminary information for the fiscal third quarter ended November 28, 2015, which comprised the Thanksgiving holiday in addition to the following two shopping days (Black Friday and Saturday), and offered an update on anticipated comparable sales from the starting of the fourth quarter through Christmas.
Although it is still in the process of its quarterly financial close, the Company now estimates net sales for the fiscal third quarter to have been about $3.0 billion, an improvement of about 0.3% from the prior year period. The Company had formerly modeled net sales to improvement by about 1.8% to 4.0%.
The Company now estimates third quarter comparable sales to have reduced by 0.4%, or relatively flat on a constant currency basis(a non-GAAP measure). The 0.4% unfavorable impact of foreign currency fluctuations is consistent with its previous model. Counting the impact of foreign currency fluctuations, the Company had formerly modeled comparable sales to improvement between 1.0% and 3.0%.
Bed Bath & Beyond Inc., together with its auxiliaries, operates a chain of retail stores. It sells a range of domestics merchandise, counting bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletops, basic housewares, general home furnishings, consumables, and certain juvenile products.
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 through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
