On Tuesday, Teekay Tankers Ltd. (NYSE:TNK)’s shares declined -3.45% to $7.28.
Teekay Tankers Ltd. (TNK) declared that it has filed a prospectus supplement with the Securities and Exchange Commission (SEC) through which it may, from time to time, issue Class A common stock with an aggregate offering price of up to $80 million through Evercore Group L.L.C. as sales agent.
Sales of Class A common stock, if any, will be made by means of ordinary brokers’ transactions on the New York Stock Exchange, in block transactions, or as otherwise agreed to between Teekay Tankers and Evercore Group L.L.C.
Teekay Tankers is under no obligation to issue Class A common stock under the equity distribution agreement. The Company intends to use the net proceeds from sales under this program for general corporate purposes, which may comprise, among other things, repaying a portion of its outstanding indebtedness and funding future working capital requirements, capital expenditures or vessel acquisitions.
The Class A common stock will be offered following a prospectus supplement dated June 4, 2015, to the Company’s base prospectus, dated June 19, 2014.
Teekay Tankers Ltd. is engaged in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers worldwide. As of December 31, 2014, it owned 27 double-hulled conventional oil tankers, time-chartered in 8 Aframax tankers, and 4 long range 2 product tankers from third parties; and owned a 50% interest in 1 very large crude carrier. The company was founded in 2007 and is headquartered in Hamilton, Bermuda.
StemCells Inc (NASDAQ:STEM)’s shares dropped -2.16% to $0.714.
StemCells Inc (STEM) has been on the move lately as the stock has risen by 20% in the past four weeks, and it is presently trading well above its 20-Day SMA.
While there can be no telling for sure, it is certainly encouraging that earnings estimates have risen in the past few weeks on the company, suggesting that sentiment on STEM is moving in the right direction. In fact, the stock presently has a Zacks Rank #2 (Buy), suggesting that the recent run could certainly continue for this in-focus company.
StemCells, Inc., a biopharmaceutical company, researches, develops, and commercializes cell-based therapeutics and related technologies for stem cell-based research and drug discovery and development. It engages in clinical development of its platform technology, HuCNS-SC, a purified human neural stem cells used as a potential treatment for disorders of the central nervous system.
At the end of Tuesday’s trade, State Street Corp (NYSE:STT)‘s shares surged 0.43% to $79.14.
State Street Corp (STT) agreed to submit a written plan to regulators within 60 days to strengthen its internal protections against money laundering and Bank Secrecy Act violations. The enforcement action was triggered by the regulators’ examination of the bank’s risk administration program, which turned up unspecified deficiencies.
The good news for State Street is that the action, which the bank warned was coming weeks ago, did not carry a hefty fine. The bad news? Regulators’ review of the bank’s operations could last far longer than the two months State Street has to write the report — and heap tens of millions of dollars in compliance costs on a company already struggling with regulatory expenses.
State Street Corporation provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, counting custody; product- and participant-level accounting; daily pricing and administration; master trust and master custody; record-keeping; cash administration; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; and performance, risk, and compliance analytics.
Cloud Peak Energy Inc. (NYSE:CLD), ended its Tuesday’s trading session with -2.52% loss, and closed at $5.22.
Cloud Peak Energy Inc. (CLD) declared that Heath Hill, Cloud Peak Energy’s Executive Vice President and Chief Financial Officer, will speak at the Barclays High Yield Bond & Syndicated Loan Conference at 1:25 p.m. (MT) on Thursday, June 11, 2015 in Colorado Springs, Colorado.
Cloud Peak Energy Inc., through its auxiliaries, produces coal in the Powder River Basin (PRB) and the United States. The company operates through Owned and Operated Mines, Logistics and Related Activities, and Corporate and Other segments. It produces and sells sub-bituminous thermal coal with low sulfur content primarily to electric utilities operating in the United States and internationally.
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