On Wednesday, Two Harbors Investment Corp (NYSE:TWO)’s shares inclined 2.00% to $9.94.
Two Harbors Investment Corp. (TWO) declared a quarterly dividend of $0.26 per share of common stock for the second quarter of 2015. This dividend is payable on July 21, 2015 to common stockholders of record at the close of business on June 30, 2015.
Two Harbors distributes dividends based on its current estimate of taxable earnings per common share, not GAAP earnings. Taxable and GAAP earnings are expected to differ principally because of differences in discount accretion and premium amortization, certain non-taxable unrealized and realized gain and losses on derivatives, and non-deductible general and administrative expenses.
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), residential mortgage loans, mortgage servicing rights, commercial real estate debt and related assets, and other financial assets.
Target Corporation (NYSE:TGT)’s shares gained 1.63% to $82.96.
CVS Health Corporation (CVS) and Target Corporation (TGT) declared that they have reached a definitive agreement for CVS Health to acquire Target’s pharmacy and clinic businesses for about $1.9 billion. Through this agreement, CVS Health will acquire Target’s more than 1,660 pharmacies across 47 states and operate them through a store-within-a-store format, branded as CVS/pharmacy. In addition, a CVS/pharmacy will be comprised of in all new Target stores that offer pharmacy services. Target’s nearly 80 clinic locations will be rebranded as MinuteClinic, and CVS Health will open up to 20 new clinics in Target stores within three years of the close of the transaction. The new clinics will be part of CVS/minuteclinic’s plan to operate 1,500 clinics by 2017. In addition, CVS Health and Target plan to develop five to 10 small, flexible format stores over a two-year period following the deal close, which will each be branded as TargetExpress and comprise a CVS/pharmacy.
Target Corporation operates as a general merchandise retailer in the United States and Canada. It offers household essentials, counting pharmacy, beauty, personal care, baby care, cleaning, and paper products; music, movies, books, computer software, sporting goods, and toys; electronics, such as video game hardware and software; and apparel for women, men, boys, girls, toddlers, infants, and newborns, in addition to intimate apparel, jewelry, accessories, and shoes.
At the end of Wednesday’s trade, BB&T Corporation (NYSE:BBT)‘s shares surged 1.77% to $41.03.
BB&T Corporation (BBT) declared this week a plan to repurchase up to 50 million shares of common stock, a move that follows the bank’s strong financial performance and a recent string of acquisitions.
BB&T (NYSE: BBT) will be buying back stock over the next several years starting in the third quarter, which starts July 1. The bank has already received federal approval to spend $820 million during the next year to repurchase shares. The amount of capital the bank devotes to future repurchases will require annual federal approval going forward.
BB&T stock was trading Friday afternoon at a little more than $41 a share, which would mean the repurchase of close to 20 million shares during this first year of the program.
The new repurchase program replaces one approved by the bank’s board in 2006 and also follows a string of acquisitions that have required noteworthy capital from the Winston-Salem bank.
BB&T purchased dozens of Texas bank branches from Citibank last year and early this year and just last week accomplished its $363 million acquisition of Bank of Kentucky, which was a deal involving both cash and stock.
BB&T Corporation operates as a financial holding company that provides various banking and trust services for retail and commercial clients. It operates in six segments: Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, and Financial Services. The company’s deposit products comprise noninterest-bearing checking accounts, interest-bearing checking accounts, savings accounts, money market deposit accounts, certificates of deposit, and individual retirement accounts.
Statoil ASA(ADR) (NYSE:STO), ended its Wednesday’s trading session with -3.69% loss, and closed at $17.24.
Statoil ASA (ADR) (STO) has hit gas in the Gymir prospect in the Aasta Hansteen area together with its PL602 partners.
With the latest discovery, the company has struck a hat trick in the Aasta Hansteen area and has assisted in unlocking the full potential of the area.
The three discoveries – Snefrid Nord, Roald Rygg and Gymir – combined are estimated to hold total volumes of 75–120 million barrels of recoverable oil equivalent. This corresponds to around 1/3 of the recoverable volumes at Aasta Hansteen.
In order to enhance utilization of the infrastructure and extend the production plateau, the discoveries will now be further appraised for future ties in the Aasta Hansteen facilities.
Drilled by the Transocean Spitsbergen rig in the Gymir prospect, the well 6706/11-2, established a gross 70-meter gas column in the Nise Formation with good reservoir qualities.
Statoil ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products in Norway and internationally. The company operates through Development and Production Norway; Development and Production International; Marketing, Processing and Renewable Energy; and Other segments.
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