On Wednesday, Patterson-UTI Energy, Inc. (NASDAQ:PTEN)’s shares inclined 2.64% to $21.40.
Patterson-UTI Energy, Inc. (PTEN) declared that its May 2015 drill rig count averaged at 123–122 rigs in the U.S. and 1 in Canada. This marks a steep decline from 133 rigs operational in April.
Patterson-UTI further added that for the two months ending May 31, its rig count averaged 126 in the U.S. and 2 in Canada.
The weak crude pricing environment has forced most drillers to cut back on the number of rigs. Also, fewer new contracts and declining day rates have made maintaining profitability a challenge. Retiring rigs is therefore an effective way to curb operating expenses.
Moreover, Patterson-UTI has been undertaking other measures like lowering capital spending to tackle the pricing woes. The company has declared a 29% cut in its 2015 spending.
Patterson-UTI is a major onshore contract driller in the U.S. with over 239 land-based rigs that operate primarily in the oil and natural gas producing regions of North America.
Patterson-UTI Energy, Inc., through its auxiliaries, provides onshore contract drilling services to major and independent oil and natural gas operators in the United States and Canada. The company operates through three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas.
Liberty Global plc - Class A Ordinary Shares (NASDAQ:LBTYA)’s shares gained 2.05% to $56.15.
Liberty Global plc - Class A Ordinary Shares (LBTYA) declared that, following regulatory approval, it has consummated its formerly declared acquisition of 100% of the parent of Puerto Rico Cable Acquisition Company Inc., dba Choice Cable TV (“Choice”), the second largest cable and broadband services provider in Puerto Rico. The combination of Choice’s operations with those of Liberty Cablevision of Puerto Rico LLC (“LCPR”), which is 60% owned by Liberty Global and 40% owned by funds managed by Searchlight Capital Partners, L.P., creates the largest cable operator on the island with over one million homes passed1, serving about 750,000 revenue generating units (“RGUs)1 and generating over $390 million of annual revenue.
As formerly revealed, the purchase price of about $272.5 million before transaction costs and other adjustments represents a multiple of about 6 times our estimate of Choice’s 2015 full-year operating cash flow, as customarily defined by Liberty Global and adjusted for the projected annual impact of synergies following full integration. The transaction was largely funded through incremental debt borrowings of about $267.5 million at the combined Puerto Rican business, and equity contributions from Liberty Global and Searchlight of $10.2 million and $6.8 million, respectively.
Liberty Global’s 60% ownership interest in Choice will be attributed to the “LiLAC Group”, which will track the performance of Liberty Global’s operations in Latin America and the Caribbean.
Liberty Global plc, together with its auxiliaries, provides video, broadband Internet, fixed-line telephony, and mobile services in Europe, Chile, Puerto Rico, and internationally. The company offers various residential services, counting video services comprising basic and premium programming, which can be viewed on the television and Internet connected devices; electronic programming guide, high definition (HD) channels, digital video recorder (DVR), and HD DVR services; video-on-demand, set-top boxes, pay-per-view programming, and programming in three-dimensional format services, in addition to television applications that allow access to programming on laptops, smartphones, and tablets; and entertainment, sports, movies, documentaries, lifestyles, news, adult, children, and ethnic and foreign channels.
At the end of Wednesday’s trade, Take-Two Interactive Software, Inc. (NASDAQ:TTWO)‘s shares surged 0.43% to $28.20.
2K is a publishing label of Take-Two Interactive Software, Inc. (TTWO). 2K declared that NBA 2K16, the next iteration of the top-rated NBA video game simulation series over the last 15 years*, will define the ultimate intersection of sports and pop-culture with three unique game covers from NBA All-Stars Stephen Curry, James Harden and Anthony Davis, in addition to highlighting an all-new MyCAREER mode that was written and directed by acclaimed filmmaker Spike Lee.
2K also declared that three of the NBA’s top superstars will be making their cover debuts on NBA 2K16: Golden State Warriors’ Stephen Curry, Houston Rockets’ James Harden, and New Orleans Pelicans’ Anthony Davis. All three athletes will grace their own individual NBA 2K16 cover, celebrating their remarkable on-court achievements this season and throughout their careers.
Paralleling Curry, Harden and Davis’ path to stardom, NBA 2K16’s MyCAREER gameplay will combine NBA 2K’s most-played mode with a rich, original story written and directed by Lee and produced by Lee’s production company, 40 Acres and a Mule.
Take-Two Interactive Software, Inc. develops, publishes, and markets interactive entertainment for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; offering downloadable episodes, and content and currency; and releasing titles for smartphones and tablets.
Amicus Therapeutics, Inc. (NASDAQ:FOLD), ended its Wednesday’s trading session showed no change and closed at $13.09.
Amicus Therapeutics, Inc. (FOLD) declared it has commenced a $150 million underwritten public offering of its common stock. J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the projected offering. Cowen and Company, LLC is acting as lead manager and Janney Montgomery Scott LLC is acting as co-manager for the projected offering. The Company anticipates to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be accomplished, or as to the final size or terms of the offering.
The Company anticipates to use the net proceeds of the offering for investment in the global commercialization infrastructure for Galafold(TM) (migalastat) for Fabry disease, the continued clinical development of its product candidates and for other general corporate purposes.
Amicus Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for various rare and orphan diseases. Its product candidate is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease. The company’s development programs comprise next-generation ERTs for lysosomal storage disorders (LSDs), such as Fabry disease, Pompe disease, and Mucopolysaccharidosis Type I.
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