On Thursday, Sanchez Energy Corp (NYSE:SN)’s shares inclined 7.14% to $6.60.
Sanchez Energy Corporation (SN) declared that its Board of Directors (the “Board”) has adopted a net operating loss carryforwards (“NOLs”) rights plan (the “Rights Plan”) in an effort to prevent the imposition of noteworthy limitations under Section 382 of the Internal Revenue Code on its ability to utilize its current NOLs to reduce its future tax liabilities.
The Company had federal NOLs totaling about $645.1 million as of March 31, 2015. The Company’s use of its NOLs could be substantially limited if the Company experiences an “ownership change” (as defined in Section 382 of the Internal Revenue Code). In general, an ownership change occurs if there is a cumulative change in a company’s ownership by “5% percent shareholders” (as defined in Section 382 of the Internal Revenue Code) that enhances by more than 50 percentage points over the lowest percentage owned by such stockholders at any time during the preceding three years on a rolling basis. The Company noted that the Rights Plan is designed to serve the interests of all stockholders by preserving the availability of its NOLs and is similar to plans adopted by other companies with noteworthyNOLs.
Sanchez Energy Corporation, an independent exploration and production company, focuses on the acquisition, exploration, and development of unconventional oil and natural gas resources in the onshore U.S. Gulf Coast. It has about 226,000 net leasehold acres in the oil and condensate, or black oil and volatile oil, windows of the Eagle Ford Shale in South Texas; and about 69,000 net leasehold acres in the Tuscaloosa Marine Shale in Mississippi and Louisiana.
Planned Hotels and Resorts Inc (NYSE:BEE)’s shares gained 0.83% to $13.34.
Planned Hotels and Resorts Inc (BEE) declared that it has closed a new $750.0 million unsecured credit facility with an accordion feature allowing for additional borrowing capacity up to $1.0 billion. The new facility is comprised of a $450.0 million unsecured revolving credit facility and a $300.0 million unsecured term loan. The new facility replaces a $300.0 million stock secured revolving credit facility.
The new revolving credit facility’s interest rate is based upon a leverage-based pricing grid ranging from LIBOR plus 165 basis points to LIBOR plus 240 basis points. Initial pricing will be LIBOR plus 165 basis points, which is a reduction from the previous facility’s pricing of LIBOR plus 200 basis points. The new term loan’s interest rate is also based upon a leveraged based pricing grid ranging from LIBOR plus 160 basis points to LIBOR plus 235 basis points. Initial pricing will be LIBOR plus 160 basis points. At closing, the Company has $80.0 million outstanding on the revolving credit facility in addition to the $300.0 million funded unsecured term loan. The combined unsecured facility has a five-year term and will mature in May 2020.
Planned Hotels & Resorts, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It is owner and asset manager of the highest quality portfolio of upper-upscale and luxury hotels and resorts. The firm was formerly known as Planned Hotel Capital Inc. Planned Hotels & Resorts, Inc was founded in 1997 and is based in Chicago, Illinois.
At the end of Thursday’s trade, Fiat Chrysler Automobiles NV (NYSE:FCAU)‘s shares surged 0.25% to $16.23.
FCA US LLC stated U.S. sales of 178,027 units, a 6 percent enhance contrast with sales in July 2014 (167,667 units), and the group’s best July sales since 2005.
The Chrysler, Jeep®, and Ram Truck brands each posted year-over-year sales gains in July contrast with the same month a year ago. The Jeep brand’s 23 percent enhance was the largest sales gain of any FCA US brand during the month. The group extended its streak of year-over-year sales gains to 64-successive months.
Eight FCA US vehicles set records in the month of July, counting the Chrysler 200, which posted the largest percentage year-over-year enhance of any FCA US vehicle in the month. Sales of the 200 were up 85 percent, the mid-size sedan’s best July sales ever. In addition, the Dodge Challenger, Dodge Journey, Jeep Wrangler, Jeep Cherokee, Jeep Patriot, Jeep Compass, and Ram ProMaster each recorded their best July sales ever.
FCA US finished the month of July with a 82-day supply of inventory (563,809 units). U.S. industry sales figures for July are internally projected at an estimated 17.8 million units Seasonally Adjusted Annual Rate (SAAR).
Fiat Chrysler Automobiles N.V., an automotive group, designs, engineers, manufactures, distributes, and sells vehicles and components. It offers passenger cars, light trucks, and light commercial vehicles under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, and Ram brand names, in addition to after-sales services and parts under the Mopar brand name.
Darden Restaurants, Inc. (NYSE:DRI), ended its Thursday’s trading session with -5.49% loss, and closed at $70.80.
Darden Restaurants, Inc. (DRI) declared on July 2, 2015 that it has extended the expiration date of the solicitation of consents (the “Solicitation”) from holders of the Company’s 6.00% Senior Notes due 2035 (the “2035 Notes”) (CUSIP:237194AE5) and the Company’s 6.80% Senior Notes due 2037 (the “2037 Notes”) (CUSIP:237194AH8) (the 2035 Notes and the 2037 Notes together, the “Notes”) which is being conducted following terms contained in the consent solicitation statement dated June 23, 2015 (the “Solicitation Statement”). The Solicitation has been extended and is open for the receipt of consents until 5:00 p.m., New York Time, on July 9, 2015 (the “Amended Expiration Date”). All references in the Solicitation Statement to the Expiration Date are deemed to be references to the Amended Expiration Date.
The Company is undertaking the Solicitation to provide it with the flexibility to enter into certain sale and leaseback transactions as part of its recently declared real estate strategy. The amendments projected to be made to the terms of the Notes following the Solicitation are not a condition to the Company’s recently declared real estate strategy.
Darden Restaurants, Inc. owns and operates full service restaurants in the United States and Canada. It operates restaurants under the Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V’s, and Yard House brand names. As of June 23, 2015, it owned and operated about 1,500 restaurants. The company was founded in 1968 and is headquartered in Orlando, Florida.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
