On Friday, Hercules Offshore, Inc. (NASDAQ:HERO)’s shares declined -5.21% to $0.673.
Hercules Offshore, Inc. (HERO) said Saudi Aramco – the state-owned national oil company of Saudi Arabia – has withdrawn its formerly issued notice of termination for Hercules 261, one of the three jackup rigs working in the Persian Gulf.
Moreover, all terms and conditions of the contract will remain effective for the remaining tenure of the five-year period that runs through Nov 2019.
Hercules Offshore, Inc., together with its auxiliaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry worldwide. The company operates through Domestic Offshore, International Offshore, and International Liftboats segments.
Hartford Financial Services Group Inc (NYSE:HIG)’s shares dropped -0.31% to $42.20.
While 40 percent of Boomers expect to remodel their homes sometime in the future, few do so with their own health and aging in mind, according to a new study from Hartford Financial Services Group Inc (HIG) and the University of Southern California.
When planning to remodel, Boomers indicated they will focus primarily on updating “dated” rooms – kitchens and bathrooms top the list – and making their homes more attractive, with only 21 percent considering their own health and aging. But Jodi Olshevski, gerontologist and executive director of The Hartford Center for Mature Market Excellence®, advises that people can do both with universal design – an approach to design that’s easy for everyone to use, regardless of age, size, or ability.
In The Hartford and USC study, when Boomers were shown photos of universal design ideas for the bathroom, the most common features in which they expressed interest comprise:
- Single lever faucet handle (56%).
- Comfort height toilet (56%).
- Grab bars in tub and shower (53%).
- Adjustable-height, hand-held shower hose (49%).
- Walk-in shower with little or no threshold (47%).
As part of its commitment to assisting Boomers make their house a home for a lifetime, The Hartford developed several resources for livable design ideas counting a free guide, “Remodeling Recently for a Better Tomorrow,” and an interactive home universal design quiz. These resources and more are accessible at www.thehartfordmile.com/remodel.
The Hartford Financial Services Group, Inc., through its auxiliaries, provides insurance and financial services to individual and business customers primarily in the United States. The company’s Commercial Lines segment offers workers compensation, property, automobile, marine, umbrella, liability, and livestock coverage’s, in addition to customized insurance products and risk administration services, counting professional liability, bond, and specialty casualty coverage’s.
At the end of Friday’s trade, Delphi Automotive PLC (NYSE:DLPH)‘s shares dipped -0.22% to $87.57.
Delphi Automotive PLC (DLPH) declared that Joseph S. Cantie has joined its board of directors effective June 1.
Cantie is presently the executive vice president and chief financial officer of ZF TRW, a division of ZF Friedrichshafen AG, a global automobile supplier. He served in these roles for TRW Automotive Holdings Corp. since April 2004, and has held various other senior financial administration roles at TRW since joining the company in 1999. Cantie has also held administration roles at LucasVarity and KPMG Peat Marwick.
Cantie is a certified public accountant and has a bachelor’s of science degree from the State University of New York at Buffalo.
Delphi Automotive PLC, together with its auxiliaries, manufacturers vehicle components; and provides electrical and electronic, powertrain, safety, and thermal technology solutions to the automotive and commercial vehicle markets worldwide. The company operates through four segments: Electrical/Electronic Architecture, Powertrain Systems, Electronics and Safety, and Thermal Systems. The Electrical/Electronic Architecture segment provides complete design of the vehicle’s electrical architecture, counting connectors, wiring assemblies and harnesses, electrical centers, and hybrid high voltage and safety distribution systems.
Terex Corporation (NYSE:TEX), ended its Friday’s trading session with -0.96% loss, and closed at $24.88.
Terex Corporation (TEX) gained 1% after the company declared the completion of its first asset-backed securitization worth $350 million. The company has also re-priced its Euro term loan.
Terex assists customers in renting, leasing and acquisition of its products through Terex Financial Services (TFS). TFS uses its equipment financing expertise to provide customers with solutions regarding the purchase of the company’s equipment.
The commercial paper conduit facility will be financed and secured by equipment loan and lease receivables originated by TFS in the U.S. and Canada. The new securitization facility will also enhance TFS’ ability to provide solutions for equipment financing, adding to its existing underwriting, warehousing and syndication practices.
Terex continues to grow and expand its TFS business, which undoubtedly requires a lower cost of funding. The additional liquidity offered by the facility grants a new source of low-cost funds that will be deployed for assisting customers secure equipment financing at competitive rates. It will also strengthen Terex’s capacity for organic growth.
Further, re-pricing of Euro term loans is predictable to reduce Terex’s interest costs by about $1 million annually. The company deals with interest rate risks by maintaining a balance between fixed and floating rate debt. Over the long term, Terex believes the mix will lead to lower interest cost. Moreover, the closing of new securitization facility, coupled with the re-pricing of term loans, further improves the company’s financial efficiency.
Terex Corporation operates as a lifting and material handling solutions company. Its Aerial Work Platforms segment designs, manufactures, services, and markets aerial work platform equipment, telehandlers, and light towers, in addition to related components and replacement parts under Terex and Genie names.
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