On Monday, in the course of current trade, Shares of General Motors Company (NYSE:GM), gained 0.75%, and is now trading at $36.24.
General Motors Co. plans to invest $119 million in tools and equipment to support production of future vehicle components in western Michigan, according to AP.
The automaker said Monday that the plans for its Grand Rapids Operations in the Grand Rapids suburb of Wyoming will create about 300 jobs.
The plant presently has about 500 employees and produces a variety of precision-machined automotive engine components used in Chevrolet, Buick, GMC and Cadillac vehicles. Detroit-based GM says details on the plans are predictable to be released later. AP Reports.
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, in addition to under the Alpheon, Baojun, Jiefang, and Wuling brand names.
During an Afternoon trade, Shares of FireEye, Inc. (NASDAQ:FEYE), gained 1.33%, and is now trading at $47.19, hitting its highest level.
FireEye, declared its intention to offer, subject to market conditions and other factors, $300.0 million aggregate principal amount of convertible senior notes due 2035 and $300.0 million aggregate principal amount of convertible senior notes due 2035 in a private placement to qualified institutional buyers following Rule 144A under the Securities Act of 1933, as amended. FireEye also intends to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $45.0 million aggregate principal amount of the Series A notes and up to an additional $45.0 million aggregate principal amount of the Series B notes.
The notes will be unsecured, senior obligations of FireEye, and interest will be payable semi-annually in arrears. The notes will be convertible into cash, shares of FireEye’s common stock, or a combination thereof, at FireEye’s election. The interest rate, initial conversion rate, repurchase or redemption rights and other terms of the notes are to be determined upon pricing of the offering by negotiations between FireEye and the initial purchasers of the notes.
FireEye, Inc., together with its auxiliaries, provides cybersecurity solutions for detecting, preventing, and resolving cyber-attacks. The company offers vector-specific appliance solutions that provide threat protection from network to endpoint for inbound and outbound network traffic that may contain sensitive information.
Shares of Cliffs Natural Resources Inc. (NYSE:CLF), during its Monday’s current trading session fell -4.33%, and is now trading at $5.08.
The stock has the beta value of 2.23, and its volatility for the week is 6.74%, while for the month it is 7.12%. The company has the market capitalization of $11.01B. The company holds the book value per share of -17.80, whereas cash per share is 2.32. Price to sale ratio is maintained at 0.18. Analysts mean recommendation for the stock is said to be 3.60. (where 1=Buy, 5=sale).
Cliffs Natural Resources Inc., a mining and natural resources company, produces iron ore and metallurgical coal. It operates five iron ore mines that produces iron ore pellets in Michigan and Minnesota; Koolyanobbing complex situated in northeast of the town of Southern Cross, which produces lump and fines iron ore; and two metallurgical coal mines located in Alabama and West Virginia.
Finally, MGM Resorts International (NYSE:MGM), lost -2.44% Monday, as the Macau gaming region in China stated its twelfth successive month of revenue declines.
Revenue in the only licensed and legal gambling oasis in China was down 37% year over year in May to $2.5 billion from $4.7 billion a year ago.
The fall in revenue was in line with analysts’ expectations of a 38% decline for the month.
MGM Resorts International, through its auxiliaries, owns and/or operates casino resorts. It operates through two segments, Wholly Owned Domestic Resorts and MGM China. The company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
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