On Thursday, Shares of DryShips, Inc. (NASDAQ:DRYS), lost -40.11% to $0.26.
DryShips declared that it has reached firm sales agreements with entities controlled by the Company’s Chairman and Chief Executive Officer, George Economou, to sell 17 vessels.
The 17 vessels, comprised of 13 Capesize and 4 Panamax bulk carriers, are being sold for an aggregate price of $377.0 million, counting their existing employment agreements and the assumption of $236.7 million of debt as of September 10, 2015, associated with some of the vessels. All of the individual transactions are predictable to close in the fourth quarter of 2015 and certain transactions remain subject to the approval of the applicable lending banks. These transactions were approved by the independent directors of the Company.
Because of the Company’s decision to sell these vessels, the Company anticipates to recognize an impairment charge of about $373 million in its results for the third quarter of 2015.
In addition, the Company’s Board of Directors, has decided to classify all of the remaining vessels in the fleet, comprised of 20 Panamax and 2 Supramax bulk carriers, as held for sale, and as a result the Company anticipates to recognize an additional impairment charge of about $422 million in its results for the third quarter of 2015.
DryShips Inc. provides ocean transportation services for drybulk and petroleum cargoes, and offshore deepwater drilling services. The company operates through Drybulk, Tanker, and Drilling segments.
Shares of Ascent Solar Technologies, Inc. (NASDAQ:ASTI), declined -6.93% to $0.32, during its last trading session.
Ascent Solar Technologies declared that Victor Lee, President & Chief Executive Officer, in addition to Rafael Gutierrez, Senior Vice President & Chief Operating Officer, presented at the 17th Annual Rodman & Renshaw Global Investor Conference at the St. Regis Hotel New York on September, 9th 2015.
Ascent Solar Technologies, Inc., a development stage company, designs and manufactures photovoltaic integrated consumer electronics; and portable power applications for commercial and military users.
Finally, Altria Group Inc. (NYSE:MO), ended its last trade with 0.47% gain, and closed at $53.27.
Altria Group, took part in the Barclays Global Consumer Staples Conference in Boston, Massachusetts. Billy Gifford, Altria’s Chief Financial Officer, highlighted the company’s financial aims and strategies, diverse business model and track record of delivering consistent returns to shareholders.
2015 Full-Year Guidance
Altria reaffirms its guidance for 2015 full-year adjusted diluted earnings per share (EPS), which excludes the special items talked about in Plan 1, to be in the range of $2.76 to $2.81, representing a growth rate of 7.5% to 9.5% from an adjusted diluted EPS base of $2.57 in 2014, as shown in Plan 1.
The factors described in the Forward-Looking and Cautionary Statements section of this release represent ongoing risks to Altria’s forecast.
Altria Group, Inc., through its auxiliaries, manufactures and sells cigarettes, smokeless products, and wine in the United States and internationally. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, Husky, and Marlboro Snus brand names.
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 with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
