On Friday, Shares of Archer Daniels Midland Company (NYSE:ADM), lost -0.74% to $51.01.
Archer Daniels Midland Company, declared that it has attained tree nut and seed processing assets and operations in Modesto, California, from California Gold Almonds, adding critical processing capacity on top of ADM’s existing West Coast nut operations in Lodi and Stockton. Under the terms of the deal, ADM is acquiring the lease to the brand-new Modesto processing plant, and taking ownership of assets—counting processing equipment—at the facility.
The Modesto plant is capable of steam pasteurizing, roasting, dicing, slicing, milling and packaging. Like ADM’s plants in Lodi and Stockton, the facility can process a range of nuts, counting almonds, cashews, Brazil nuts, pecans, pistachios, hazelnuts, walnuts and macadamias.
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities and products. The company’s Oilseeds Processing segment originates, merchandises, crushes, and processes soybeans and soft seeds into vegetable oils and protein meals.
Shares of Juno Therapeutics Inc (NASDAQ:JUNO), inclined 6.81% to $68.36, during its last trading session.
Juno Therapeutics, declared that it has attained X-BODY,a privately held biotechnology company with nine employees based in Waltham, Massachusetts. The acquisition furthers Juno’s strategy of investing in technologies that augment the company’s capabilities to create best-in-class engineered T cells against a broad array of cancer targets. The acquisition brings in-house to Juno an innovative discovery platform that interrogates the human antibody repertoire, rapidly selecting fully human antibodies with desired characteristics, even against difficult targets.
Juno will incorporate this platform into its process for creating CAR T constructs, using it to generate new binding domains from fully-human naive single chain variable fragment (scFv)-formatted libraries. Fully-human scFv’s have the potential for reduced immunogenicity and improved CAR T cell in vivo persistence. Juno also plans to continue to explore the broader application of the technology to alternative antigen-binding platforms, counting its TCR platform.
Juno Therapeutics,a biopharmaceutical company, engages in developing cell-based cancer immunotherapies. The company develops cell-based cancer immunotherapies based on its chimeric antigen receptor and T cell receptor technologies to genetically engineer T cells to recognize and kill cancer cells. Its clinical stage CD19 product candidates comprise JCAR015 that is in Phase I clinical trials for adult patients with relapsed/refractory B cell acute lymphoblastic leukemia (r/r ALL); JCAR017, which is in Phase I/II trials for pediatric patients with r/r ALL; and JCAR014 that is in Phase I/II trials to treat various B cell malignancies in patients relapsed or refractory to standard therapies.
At the end of Friday’s trade, Shares of Prudential Financial Inc (NYSE:PRU), gained 1.89% to $88.24.
Prudential Financial, declared a contract between its Individual Life Insurance and Annuities businesses and the dfree Financial Freedom Movement to assist individuals in the Greater D.C. area through financial education to assist protect their family’s financial future. This independent community-based financial education program was developed by Dr. DeForest B. Soaries, Jr., senior pastor of the First Baptist Church of Lincoln Gardens in Somerset, N.J., and creator and founder of dfree. In the D.C. area, Dr. Soaries’ organization and local Prudential representatives are working with Collective Empowerment Group, a community economic empowerment group of about 125 churches.
The declaration, which was made during an event at the National Press Club earlier recently, marks the launch of a financial education initiative that aims to empower people to create a healthy financial future for themselves and their loved ones through valuable advice from and engagement with Prudential financial professionals.
Prudential Financial, Inc. provides insurance, investment administration, and other financial products and services to individual and institutional customers in the United States and internationally.
Finally, Key Energy Services, Inc.(NYSE:KEG), ended its last trade with 0.47% gain, and close at $2.12.
Key Energy Services, declared that it has closed a $100 million asset-based revolving credit facility due February 2020 and closed and funded a $315 million term loan facility due June 2020. The Facilities replace Key’s existing $400 million senior revolving credit facility.
The Facilities do not have cash flow based financial maintenance covenants; however, the Facilities require Key to maintain $100 million in liquidity, counting cash and availability under the ABL. Upon closing, Key had $270.6 million of liquidity, assuming the completion of certain post-closing collateral perfection requirements. The Facilities also require Key to maintain the ratio of the net orderly liquidation value of its assets and certain term loan proceeds to term loan borrowings of 1.5x. As of the date of closing, this ratio was 2.15x. The ABL also comprises a fixed charge coverage ratio of 1.0x, which is tested only if excess availability under the ABL falls below a specified threshold or upon the occurrence of certain other events. The term loan was issued at an OID of 3.0% with an annual rate of LIBOR plus 9.25% with a 1.00% LIBOR floor. The ABL bears interest at an annual rate on outstanding borrowings of LIBOR plus 4.5%, with a fee on unused commitments ranging from 1.00% -1.25% based on utilization. Key plans to file copies of the Facilities with the U.S. Securities and Exchange Commission as exhibits to a Current Report on Form 8-K, and reference should be made to the Facilities for a complete description of their terms.
Key Energy Services, operates as an onshore rig-based well servicing contractor in the United States and internationally. It offers rig-based services, counting the maintenance, workover, and recompletion of existing oil wells; completion of newly-drilled wells; and plugging and abandonment of wells at the end of their lives, in addition to specialty drilling services to oil and natural gas producers.
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