On Monday, Shares of Huntsman Corporation (NYSE:HUN), lost -28.68% to $9.92, after the company listed several factors that will impact its third quarter earnings, counting lower prices and falling demand.
Titanium dioxide prices declined, while demand in the Asia Pacific region remained soft, the Salt Lake City-based chemicals manufacturer said on Friday after the market close.
Additionally, Huntsman anticipates its margins to shrink due to lower oil prices and delayed benefits from cheaper raw materials.
Huntsman Corporation (Huntsman) is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company is also engaged in performance additives and titanium dioxide business.
Shares of Halliburton Company (NYSE:HAL), declined -4.82% to $34.93, during its last trading session.
Halliburton Company and Baker Hughes Incorporated (BHI) recently declared that the companies will market for sale additional businesses in connection with Halliburton’s pending acquisition of Baker Hughes. Following the Merger Agreement, and in order to permit completion of Halliburton’s acquisition of Baker Hughes, the following additional businesses are intended to be divested: Halliburton’s expandable liner hangers business, which is part of the company’s Completion & Production Division; Baker Hughes’ core completions business, which comprises: packers, flow control tools, subsurface safety systems, intelligent well systems, permanent monitoring, sand control tools and sand control screens; the Baker Hughes sand control business in the Gulf of Mexico, counting two pressure pumping vessels; and Baker Hughes’ offshore cementing businesses in Australia, Brazil, the Gulf of Mexico, Norway, and the United Kingdom.
The divestitures process for the formerly declared divestitures of Halliburton’s Fixed Cutter and Roller Cone Drill Bits, Directional Drilling and Logging-While-Drilling (LWD)/Measurement-While-Drilling (MWD) businesses is ongoing, and Halliburton is happy that last Friday it received proposals from multiple interested parties for each business.
The combined 2013 revenue associated with all of the businesses intended to be divested was about $5.2 billion. The sale of these businesses will be subject to the negotiation of acceptable terms and conditions for the divestitures, the approval of the divesting company’s Board of Directors, and final approval of the Baker Hughes acquisition by competition enforcement authorities. Halliburton anticipates that the companies will complete the sales of these businesses in the same timeframe as, and the closing of the divestitures would be conditioned on, the closing of the pending Baker Hughes acquisition.
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates operate under two divisions, which form the basis for its two operating segments: the Completion and Production segment, and the Drilling and Evaluation segment.
Shares of NRG Energy Inc (NYSE:NRG), declined -1.19% to $14.89, during its last trading session.
NRG Energy declared the next phase of the 2015 Capital Allocation Plan with authorization to repurchase $251 million of its common stock, comprised of $51 million remaining from the formerly declared share repurchase program and an additional $200 million. The authorization will be implemented through a 10b5-1 trading plan right away.
The purchase of common stock will be made using cash on hand and may be made from time to time as market conditions warrant and subject to regulatory considerations. This action does not foreclose the possibility of further or different capital allocation actions in the future.
NRG Energy, Inc. (NRG) is a power company that produces, sells and delivers energy, and energy products and services in power markets in the United States. NRG’s business segments are NRG Business, NRG Home, NRG Renew, NRG Yield and corporate activities.
Finally, Huntington Bancshares Incorporated (NASDAQ:HBAN), ended its last trade with -1.91% loss, and closed at $10.29.
Huntington Bancshares Incorporated anticipates to report its third quarter earnings on Thursday, October 22, 2015, before the market opening.
Huntington Bancshares Incorporated (Huntington) is a diversified regional bank holding company. The Company operates through its subsidiary, The Huntington National Bank (the Bank).
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