On Monday, Shares of General Growth Properties Inc (NYSE:GGP), lost - 2.65% to $25.38.
General Growth Properties declared that its Board of Directors authorized an improvement of $500 million to the Company’s existing share repurchase program (the “Program”). Together with amounts formerly authorized that have not been used for repurchases, the Company has about $600 million available for repurchases under the Program. The Program has no expiration date.
General Growth Properties, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It engages in owning, managing, leasing, and redeveloping high-quality regional malls. General Growth Properties, Inc is based in Chicago, Illinois.
Shares of Baytex Energy Corp (USA) (NYSE:BTE), inclined 11.82% to $5.77, during its last trading session.
Baytex Energy Corp., declared updated guidance for 2015 and improved sustainability through a reduced capital program and suspension of the monthly dividend.
“It is imperative that we position our company to withstand the current low commodity price environment. We are committed to taking the difficult but necessary steps to ensure the long-term sustainability of our business. We are also focused on driving our cost structure lower. Through negotiated cost savings with service providers, we have materially reduced the amount of exploration and development capital we must spend to maintain our production. Based on the current outlook, we anticipate an approximate 25% reduction in capital spending in 2016,” commented James Bowzer, President, and Chief Executive Officer.
Bowzer said, “Through these measures, our sustainability metrics are improved, our leverage ratios improve and we are dedicating our resources to our highest rate of return projects. By recalibrating our business model in response to the current pricing environment, we believe we are preserving shareholder value in these extraordinary times and positioning our company for greater success when oil prices recover.”
Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, exploitation, and production of oil and natural gas in the Western Canadian Sedimentary Basin and the United States.
At the end of Monday’s trade, Shares of Pepco Holdings, Inc. (NYSE:POM), lost -0.13% to $22.98.
Exelon Corporation and Pepco Holdings Inc., issued the following statement in response to the Public Service Commission of the District of Columbia’s order on the companies’ projected merger.
“We have now received the Commission’s order, and we remain convinced the decision fails to recognize the substantial immediate and long-term benefits of our merger proposal to citizens, businesses and communities in the District of Columbia. We believe our merger proposal is in the public interest, and we will continue working to complete the merger, which all other jurisdictions have approved. Not concluding our merger would deny customers in the District of Columbia – in addition to Delaware, Maryland and New Jersey – hundreds of millions of dollars in direct financial benefits, improved reliability and storm response, renewable energy projects, and commitments that will preserve their local utility’s role as a strong community partner and contributor to economic growth. We want to deliver these benefits to customers and will strive to make that happen.”
Pepco Holdings, Inc., through its auxiliaries, engages in the transmission, distribution, and supply of electricity. The company also distributes and supplies natural gas. In addition, the company designs, constructs, and operates energy projects and distributed generation equipment, counting combined heat and power plants principally for federal, state, and local government customers.
Finally, Pioneer Natural Resources (NYSE:PXD), ended its last trade with 1.48% gain, and closed at $123.06.
Pioneer Natural Resources Company declared that its board of directors declared a cash dividend of $0.04 per share on Pioneer’s outstanding common stock. The dividend is payable October 9, 2015, to stockholders of record at the close of business on September 30, 2015.
Pioneer Natural Resources Company engages in the exploration and production of oil and gas in the United States. The company produces and sells oil, natural gas liquids (NGLs), and gas.
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