On Tuesday, SunTrust Banks, Inc.(NYSE:STI)’s shares inclined 2.86% to $39.92.
The board of directors of SunTrust Banks, Inc. (STI) has declared a regular quarterly cash dividend of $0.24 per common share. The dividend is payable on September 15, 2015, to shareholders of record at the close of business on August 31, 2015.
The board of directors also declared the following dividends payable in cash on September 15, 2015, to shareholders of record at the close of business on August 31, 2015:
- a quarterly cash dividend of $1,022.22* per share on SunTrust’s Perpetual Preferred Stock, Series A;
- a quarterly cash dividend of $1,022.22* per share on SunTrust’s Perpetual Preferred Stock, Series B; and
- a quarterly cash dividend of $1,468.75 per share on SunTrust’s Perpetual Preferred Stock, Series E.
SunTrust Banks, Inc. operates as the holding company for SunTrust Bank that provides various financial services in the United States. The company operates in three segments: Consumer Banking and Private Wealth Administration, Wholesale Banking, and Mortgage Banking. The Consumer Banking and Private Wealth Administration segment offers deposits, home equity lines and loans, credit lines, indirect auto loans, student loans, bank cards, and other lending products, in addition to various services.
Qihoo 360 Technology Co Ltd(NYSE:QIHU)’s shares dropped -2.62% to $46.99.
Qihoo 360 Technology Co. Ltd. (“Qihoo 360” or the “Company”) (QIHU), a leading Internet company in China, recently declared that it has issued a notice to Coolpad Group Limited (“Coolpad”) (2369.HK) to exercise its put option to require Coolpad to purchase the Company’s entire 49.5% stake in Coolpad E-Commerce Inc., a joint venture between the Company and Coolpad set up in December 2014 to focus on mobile terminal products that are distributed through Internet as the primary channel, in accordance with the shareholders agreement regardingthe joint venture.
Under the shareholders agreement, the Company has a put option to sell its entire stake in the joint venture to Coolpad at a total price equal to twice its fair market value, exercisable if Coolpad breaches its non-compete obligations under the shareholders agreement. The Company issued the notice to Coolpad to exercise this put option based on a series of breaches by Coolpad of its relevant non-compete obligations.
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. The company also offers 360 Safe Browser and 360 Speed Browser, which are based on dual-core technologies and provide secure browsing; and 360 Mobile Browser for the iOS and Android operating systems.
At the end of Tuesday’s trade, McDermott International(NYSE:MDR)‘s shares surged 2.35% to $4.80.
McDermott International, Inc. (MDR) declared it has been awarded a lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia.
Work on the contract is predictable to be executed through the second quarter of 2018. The award follows the June 2015 signing of a second Long Term Agreement (LTA) between McDermott and Saudi Aramco for engineering, procurement, construction and installation (EPCI) opportunities in various fields offshore Saudi Arabia.
The package of various EPCI projects that make up the lump sum award represent the largest single award for McDermott’s Middle East Area operations in company history. Revenue from the fixed-price award will be comprised of in McDermott’s third quarter 2015 backlog.
McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.
Memorial Resource Development Corp(NASDAQ:MRD), ended its Tuesday’s trading session with 3.52% gain, and closed at $20.00.
Memorial Resource Development Corp. (MRD) declared its operating and financial results for the three months ended June 30, 2015.
Financial highlights from second quarter 2015 comprise:
- Raised average daily production 39% to 268 MMcfe/d for the second quarter 2015 contrast to 193 MMcfe/d for the second quarter 2014.
- Stated Adjusted EBITDA(1) of $82.8 million for the second quarter 2015 contrast to $81.5 million for the second quarter 2014.
- Stated Adjusted Net Income(1) of $17.3 million for the second quarter 2015 contrast to $40.2 million for the second quarter 2014.
Memorial Resource Development Corp., an independent natural gas and oil company, focuses on the acquisition, exploitation, and development of natural gas, natural gas liquids, and oil properties primarily in North Louisiana. As of December 31, 2014, the company held leasehold interest in 210,854 net acres; and had estimated proved reserves of about 1,632 billion cubic feet of natural gas equivalent. The company was founded in 2011 and is based in Houston, Texas.
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