On Thursday, Scorpio Tankers Inc. (NYSE:STNG)’s shares declined -2.00% to $9.33.
Scorpio Tankers Inc. (STNG) declared that it (i) has reached separate agreements to purchase an MR product tanker and an LR2 product tanker that are presently under construction, (ii) has recently taken delivery of five new building vessels and (iii) plans to issue its second quarter 2015 earnings before the market open on Wednesday, July 29, 2015 and will host a conference call later in the day at 10 AM Eastern Daylight Time and 4 PM Central European Summer Time
Scorpio Tankers Inc., together with its auxiliaries, engages in the seaborne transportation of refined petroleum products and crude oil worldwide. As of March 31, 2015, it owned 67 tankers comprising 11 LR2 tanker, 2 LR1 tankers, 15 Handymax tankers, 39 MR tankers with an average age of 1.1 years; and time charters-in 20 product tankers, counting 5 LR2, 5 LR1, 3 MR, and 7 Handymax tankers. The company was founded in 2009 and is based in Monaco, Monaco.
Dynegy Inc. (NYSE:DYN)’s shares dropped -3.51% to $25.55.
Dynegy Inc. (DYN) has commenced registered exchange offers (the Exchange Offers) of:
- $2,100,000,000 in aggregate principal amount of its 6.75% Senior Notes due 2019 (the 2019 Exchange Notes), registered under the Securities Act of 1933, as amended (the Securities Act), for all of its outstanding unregistered 6.75% Senior Notes due 2019 (the 2019 Notes);
- $1,750,000,000 in aggregate principal amount of its 7.375% Senior Notes due 2022 (the 2022 Exchange Notes), registered under the Securities Act, for all of its outstanding unregistered 7.375% Senior Notes due 2022 (the 2022 Notes); and
- $1,250,000,000 in aggregate principal amount of its 7.625% Senior Notes due 2024 (the 2024 Exchange Notes and, together with the 2019 Exchange Notes and the 2022 Exchange Notes, the Exchange Notes), registered under the Securities Act, for any and all of its outstanding unregistered 7.625% Senior Notes due 2024 (the 2024 Notes and, together with the 2019 Notes and the 2022 Notes, the Notes).
Dynegy Inc., through its auxiliaries, produces and sells electric energy, capacity, and ancillary services in the United States. It operates in three segments, Coal, IPH, and Gas. The company sells its services on a wholesale basis from its power generation facilities. It has a fleet of 15 power plants in 5 states totaling about 13,000 megawatts of generating capacity.
At the end of Thursday’s trade, E*TRADE Financial Corp(NASDAQ:ETFC)‘s shares dipped -3.75% to $26.46.
E*TRADE Financial Corporation (ETFC) declared results from the most recent wave of StreetWise, E*TRADE’s quarterly tracking study of practiced investors. Results show investors have grown increasingly more negative toward the market, with bearish sentiment the highest it has been all year.
A noteworthy portion of the population also has a negative view on Federal Reserve rate enhances, where nearly one in three practiced investors believe a rate hike would hurt their portfolio.
Mr. Loewengart offered the following general insights for investors concerned about Fed rate hikes:
- Ladders may assist. A bond-laddering strategy is a mix of short, intermediate, and long-term bonds, which may assist reduce interest-rate risk in a rising interest rate environment. With this strategy, an investor creates a portfolio of fixed income with different maturities in an effort to provide compriseent income and price stability as rates rise.
- There may be opportunities outside of bonds. Bonds are not the only asset class affected by rate hikes. Investors may also consider exploring stocks in industries and sectors likely to benefit from rising rates, such as industrials, financials, and real estate.
- Diversify, diversify, diversify. As with any portfolio, diversification remains a key ingredient for success. Diversifying across markets and within asset classes may reduce a portfolio’s sensitivity to rate hikes.
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand name. It operates through two segments, Trading and Investing, and Balance Sheet Administration. The Trading and Investing segment offers retail brokerage products and services, investor-focused banking products, and corporate services. The Balance Sheet Administration segment manages asset allocation; loans formerly originated by the company or purchased from third parties; deposits and customer payables; and credit, liquidity, and interest rate risk.
Axalta Coating Systems Ltd(NYSE:AXTA), ended its Thursday’s trading session with -3.47% loss, and closed at $29.45.
Axalta Coating Systems Ltd. (AXTA) has priced a secondary offering of 30,000,000 of its common shares at $29.75 per share. All of the shares are being offered by certain associates of The Carlyle Group (the “selling shareholders”). The selling shareholders have also granted the underwriters a 30-day option to purchase up to an additional 4,500,000 common shares. Axalta will not receive any proceeds from the offering, counting from any exercise by the underwriters of their option to purchase additional common shares.
Citigroup, Goldman, Sachs & Co., Deutsche Bank Securities and J.P. Morgan are lead book-running managers for the offering. Additional book-running managers are BofA Merrill Lynch, Barclays, Credit Suisse, Jefferies and UBS Investment Bank. Co-managers are Morgan Stanley, BB&T Capital Markets, Nomura, SMBC Nikko and Academy Securities.
Axalta Coating Systems Ltd., through its auxiliaries, manufactures, markets, and distributes high performance coatings products primarily for the transportation industry. It operates through two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various waterborne and solventborne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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