On Thursday, Wynn Resorts, Limited (NASDAQ:WYNN)’s shares enhanced 3.08%, and closed at $129.4.
Wynn, co-founder, Board member and third-largest stockholder of Wynn Resorts, Limited commented on the recommendation from Institutional Shareholder Service (“ISS”), a leading independent proxy advisory service, that Wynn stockholders WITHHOLD their vote for administration’s nominees for the Wynn Resorts Board of Directors at the forthcoming 2015 Annual Meeting. In response, Elaine Wynn has issued the following statement:
I believe the stockholders of Wynn Resorts deserve better than the choices presented to them by the Corporation this proxy season, and the only way to achieve meaningful value creation for my fellow stockholders is to vote the GOLD card FOR my reelection at the forthcoming Annual Meeting. The ISS report raises a number of important concerns about the performance of the Board. I firmly believe my judgment, considerable experience, important diversity and willingness to challenge the status quo makes me the best positioned candidate to guard and grow stockholders’ interest and identify additional diverse candidates with independent voices.”
Wynn Resorts, Limited, together with its auxiliaries, develops, owns, and operates destination casino resorts. It operates in two segments, Macau Operations and Las Vegas Operations.
Cemex SAB de CV (ADR) (NYSE:CX), inclined 3.07%, and closed at $9.73.
Formerly on March 25, 2015 CEMEX, S.A.B. de C.V. disclosed that the interest rate of its U.S.$200 million in aggregate principal amount of Convertible Subordinated Notes due 2020, is 3.720% and the initial conversion rate of the Convertible Notes is 80.7735 of CEMEX’s American Depositary Shares (the “ADSs”) per U.S.$1,000 principal amount of the Convertible Notes.
The interest rate applicable to the Convertible Notes of 3.720% was determined based on the 5-year swap rate on March 11, 2015 (1.770%), plus a spread of 195 basis points. Because the average of the daily volume-weighted average prices of the ADSs for the 5 trading day period beginning on March 18, 2015 (the “5 Day Average VWAP”) was U.S.$9.5233, which is higher than U.S.$8.62, no adjustment to the interest rate was required. Interest on the Convertible Notes will be payable semi-annually in arrears on March 15 and September 15 of each year, commencing on September 15, 2015.
CEMEX, S.A.B. de C.V., a building materials corporation, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, and other construction materials in Mexico, the United States, Northern Europe, the Mediterranean, South America, the Caribbean, and Asia.
At the end of Thursday’s trade, Willbros Group Inc (NYSE:WG), surged 3.04%, and closed at $3.05, as Willbros Group, Inc. proclaimed results for the fourth quarter and full year 2014. The Corporation stated a net loss in the fourth quarter of $36.0 million, or $0.72 per share, on proceed of $450.7 million, contrast to a net profit of $12.8 million, or $0.27 per share, on proceed of $505.1 million for the same period in 2013. The fourth quarter results comprised of a $14.2 million, or $0.28 per share, non-cash debt extinguishment charge, and other charges of about $7.0 million, or $0.14 per share, associated with the investigation behind the deterioration of certain construction projects and employee severance costs associated with headcount reductions.
For the full year 2014, the Corporation stated a net loss attributable to Willbros Group, Inc. of $79.8 million, or $1.62 per share, on proceed of $2.0 billion, contrast to a net loss of $15.9 million, or $0.32 per share, on proceed of $1.9 billion in 2013, which comprised of a non-cash debt extinguishment charge of $11.6 million, or $0.23 per share. Fiscal 2014 results comprised of non-cash debt extinguishment charges of $15.2 million, or $0.31 per share, primarily associated with the refinancing of our credit facilities. The fourth quarter generated an operating loss of $15.1 million contrast to operating revenue of $15.4 million in 2013, and the full year 2014 generated an operating loss of $2.8 million contrast to operating revenue of $31.5 million in 2013.
Willbros Group, Inc., together with its auxiliaries, operates as an energy infrastructure contractor serving the oil, gas, refining, petrochemical, and power industries in the United States and internationally. It provides engineering, procurement, and construction (EPC); and turnarounds, maintenance, facilities development, and operations services. The corporation operates through four segments: Oil & Gas, Professional Services, Utility T&D, and Canada.
Dicks Sporting Goods Inc(NYSE:DKS), gained 2.99%, and closed at $58.48, hitting new 52-week high of $59.11, after the largest U.S.-based, full-line omni-channel sporting goods retailer, and Golf Galaxy, a full-line specialty golf retailer owned and operated by DICK’S Sporting Goods, have announced that they will be making a donation to The First Tee, an organization focused on positive youth development through the game of golf.
For every new driver or new iron set purchased at any DICK’S Sporting Goods or Golf Galaxy location through the month of April, $5 will be donated to The First Tee, up to $1 million in total.
The donation will support continued education for coaches and chapter leaders, improved curriculum and training in addition to provide national participant opportunities. It will also allow The First Tee to invest in ongoing research to understand and enrich its already-existing programs.
Dick’s Sporting Goods, Inc. operates as a sporting goods retailer primarily in the eastern United States. The corporation provides hardlines, counting sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear products and accessories.
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