On Monday, Shares of Intel Corporation (NASDAQ:INTC), lost -0.27% to $29.39.
Intel Corporation’s board of directors has declared a quarterly dividend of 24 cents per share (96 cents per share on an annual basis) on the company’s common stock. The dividend will be payable on December 1, 2015, to stockholders of record on November 7, 2015.
Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. It operates through PC Client Group, Data Center Group, Internet of Things Group, Mobile and Communications Group, Software and Services, and All Other segments.
Shares of Merck & Co. Inc. (NYSE:MRK), inclined 0.48% to $52.34, during its last trading session.
Merck & Co., will present new data on early- and late-stage compounds from its refocused oncology and immuno-oncology pipeline, in addition to Erbitux® (cetuximab) data, at this year’s European Cancer Congress (ECC), held in Vienna, Austria , from September 25-29, 2015 .
These data reinforce the company’s science-driven and patient-centric approach to developing new therapies that will assist patients fight difficult-to-treat cancers such as pancreatic, non-small cell lung and urothelial.”Our data at ECC 2015 demonstrate our oncology strategy in action, through external innovation and a focus on precision medicine to personalize treatment,” said Luciano Rossetti , Head of Global Research & Development at Merck’s biopharmaceutical business Merck Serono. “We are committed to understanding which patients will benefit most from our treatments, as this is a critical component to improve patient outcomes.”
Merck & Co., Inc. provides health care solutions worldwide. The company offer therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal infections, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, male pattern hair loss, and fertility diseases.
Shares of Host Hotels & Resorts, Inc. (NYSE:HST), declined -0.34% to $17.68, during its last trading session.
Host Hotels & Resorts, declared that Host Hotels & Resorts, L.P., for whom the Company acts as sole general partner, is notifying holders of its outstanding 2.50% Exchangeable Senior Debentures due 2029 (CUSIP No. 44107TAG1) (the “Debentures”) that the holders have an option, following the terms of the Debentures, to require Host Hotels & Resorts, L.P. to purchase, on October 15, 2015, all or a portion of such holders’ Debentures (the “Put Option”) at a price equal to 100% of the aggregate principal amount of the Debentures.
Host Hotels & Resorts, L.P. will pay the aggregate purchase price of any Debentures tendered solely in cash. If all outstanding Debentures are surrendered for purchase following the Put Option, the aggregate cash purchase price will be $391.3 million, the current outstanding principal amount of the Debentures. Holders that do not surrender their Debentures for purchase will maintain the right to exchange their Debentures, subject to the terms, conditions and adjustments applicable to the Debentures. The Debentures are presently exchangeable and the exchange price, which is subject to adjustment for dividends, is equivalent to a share price of $12.60. Based on Company’s current stock price, the exchange value of the Debentures exceeds the Put Option cash purchase price. None of the Company, Host Hotels & Resorts, L.P., the board of directors of the Company and its employees have made or are making any representation or recommendation as to whether any holder should surrender any Debentures.
The opportunity to surrender Debentures for purchase following the Put Option will terminate at 5:00 p.m., New York City time, on October 13, 2015. In order to exercise the applicable Put Option, a holder must follow the procedures set forth in the applicable notice to holders. Holders may withdraw any Debentures formerly surrendered at any time before 5:00 p.m., New York City time, on October 13, 2015.
Host Hotels & Resorts, Inc. is a publicly owned real estate investment trust (REIT). The firm primarily engages in the ownership and operation of hotel properties. It invests in the real estate markets of United States. It also invests in Canada, Mexico, Chile, the United Kingdom, Italy, Spain, and Poland. The firm primarily invests in luxury and upper upscale hotels.
Finally, Spectra Energy Corp. (NYSE:SE), ended its last trade with -0.55% loss, and closed at $27.13.
Phillips 66 and Spectra Energy Corp, 50/50 joint venture owners in DCP Midstream, LLC, have reached a nonbinding letter of intent for contributing assets to strengthen DCP Midstream. This transaction is predictable to provide DCP Midstream with a stronger balance sheet and raised financial flexibility, and positions DCP to grow through commodity price cycles.
Spectra Energy has agreed to contribute its ownership interest in both the Sand Hills and Southern Hills NGL pipelines. Phillips 66 has agreed to contribute $1.5 billion in cash, which is predictable to be used to pay down a portion of the DCP Midstream revolving credit facility. The transaction, anticipated to close in the fourth quarter of this year, is subject to the parties entering into a definitive agreement and customary consents, counting approval by Spectra Energy Partners’ board of directors and regulatory approvals.
The projected transaction complements efforts at DCP Midstream to reduce operating costs, sell certain non-core assets, and convert certain contracts from commodity price sensitive to fee-based.
Spectra Energy Corp, through its auxiliaries, owns and operates a portfolio of natural gas-related energy assets in North America. The company’s Spectra Energy Partners segment engages in the transmission, storage, and gathering of natural gas, in addition to transportation and storage of crude oil and natural gas liquids (NGLs) for customers in various regions of the midwestern, northeastern, and southeastern United States and Canada.
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