On Friday, Shares of Cenovus Energy Inc (USA) (NYSE:CVE), gained 0.59% to $13.71.
Cenovus Energy Inc., has closed its formerly declared purchase of Canexus Corporation’s North American Terminal Operations (NATO), a crude-by-rail trans-loading facility in central Alberta. The acquisition is part of Cenovus’s strategy to build a strong portfolio of transportation options to assist maximize market access and capture global prices for its oil.
The company is also happy to declare it has contracted Savage to work with Cenovus’s on-site administration team in the day-to-day operations of the renamed Bruderheim Energy Terminal. Savage is a leading provider of rail transportation and terminal operations in the U.S. and Canada.
Located about 50 kilometres northeast of Edmonton in Bruderheim, Alberta, the terminal has planned value for Cenovus due to its connections to the Cold Lake and Access crude oil pipeline systems in addition to its links to the Canadian Pacific and Canadian National rail lines. Cenovus, which began moving its oil through the facility in 2014, presently transports crude oil production volumes from its Foster Creek steam-assisted gravity drainage (SAGD) operation to Bruderheim on the Cold Lake pipeline. There is potential to expand the attained facility at a relatively low capital cost. Additionally, there is undeveloped land comprised in the transaction that provides noteworthypotential as Cenovus evaluates a number of possible value-added projects.
Cenovus Energy Inc., an integrated oil company, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada with refining operations in the United States.
Shares of Gap Inc (NYSE:GPS), declined -1.80% to $32.42, during its last trading session.
Gap Inc., stated that net sales for the four-week period ended August 29, 2015 reduced 3 percent to $1.20 billion contrast with net sales of $1.23 billion for the four-week period ended August 30, 2014.
On a constant currency basis, August 2015 net sales were flat contrast with last year. In calculating the net sales change on a constant currency basis, current year foreign exchange rates are applied to both current year and preceding year net sales. This is done to enhance the visibility of underlying sales trends, not taking into account the impact of foreign currency exchange rate fluctuations.
“We’re happy that Old Navy delivered another strong month of positive comps driven by a healthy back-to-school business, as we remain focused on improving product performance across our portfolio,” said Sabrina Simmons, chief financial officer, Gap Inc.
The Gap, Inc. operates as an apparel retail company worldwide. It offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brand names.
Finally, Philip Morris International Inc. (NYSE:PM), ended its last trade with -2.71% loss, and closed at $77.30.
Philip Morris International Inc., will host a live audio webcast of the company’s remarks and question-and-answer session by Jacek Olczak, Chief Financial Officer, at the Barclays Global Consumer Staples Conference at www.pmi.com/webcasts on Tuesday, September 8, 2015, at about 1:30 p.m. ET.
Philip Morris International Inc., through its auxiliaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprise Marlboro, Merit, Parliament, Virginia Slims, L&M, Chesterfield, Bond Street, Lark, Muratti, Next, Philip Morris, and Red & White.
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