On Friday, DTE Energy Co (NYSE:DTE)’s shares declined -2.27% to $74.94.
DTE Energy Co (DTE) declared it will issue a Request for Proposal for evaluation, measurement and verification services for its popular energy-efficiency programs.
DTE is seeking bids from qualified vendors to provide these analytical services for the residential and commercial/industrial portfolio of energy-efficiency programs offered by DTE Electric and DTE Gas in 2016 and 2017.
DTE Energy is seeking the consultant to provide ongoing, independent evaluation services, which comprise impact and process evaluations, ongoing consulting and support for DTE Energy’s participation in statewide energy-efficiency collaboratives.
The successful service provider must have extensive experience and demonstrated abilities in all aspects of energy-efficiency program design, implementation, monitoring, measurements, verification and valuation, and energy-efficiency program evaluation techniques, strategies and principles.
DTE Energy Company operates in the utility operations. The company’s Electric segment engages in the generation, purchase, distribution, and sale of electricity to about 2.1 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, in addition to wind and other renewable assets.
SM Energy Co (NYSE:SM)’s shares dropped -0.16% to $49.17.
SM Energy Co (SM) declared the final results of its formerly declared tender offer and consent solicitation (the “Offer”) commenced on May 7, 2015, for its 6.625% Senior Notes due 2019 (CUSIP: 78454LAB6, the “Notes”).
The Offer expired at 11:59 P.M., New York City time, on June 4, 2015 (the “Expiration Date”). An aggregate of $244,447,000, representing 69.84% of the principal amount of the Notes outstanding, has been validly tendered and not withdrawn as of the Expiration Date. The Company funded the consideration paid to the tendering holders of the Notes using proceeds from its issuance of $500 million in 5.625% Senior Notes due 2025, which closed on May 21, 2015.
As formerly declared, on May 22, 2015, the trustee for the Notes issued an irrevocable notice of redemption notifying holders of any remaining Notes that, on June 22, 2015, the Company will redeem all of the Notes that remain outstanding following the Offer under the terms of the related indenture.
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. It primarily has operations in the South Texas and Gulf Coast region, which focuses primarily on Eagle Ford shale program; Rocky Mountain region comprising the Bakken/Three Forks formations in the North Dakota portion of the Williston Basin; Permian region covering western Texas and southeastern New Mexico; and Mid-Continent region, which manages Haynesville and Woodford shale assets.
At the end of Friday’s trade, International Paper Co (NYSE:IP)‘s shares surged 0.08% to $51.19.
International Paper Co (IP) declared the U.S. Treasury reference security yield to maturity for its formerly declared cash tender offer (the “Tender Offer”) for up to $750 million combined aggregate principal amount, which the Company has raised by $250 million to up to $1.0 billion combined aggregate principal amount (the “Tender Cap”) of its outstanding 7.500% Notes due 2021 (the “7.500% Notes”), 7.950% Notes due 2018 (the “7.950% Notes”), 9.375% Notes due 2019 (the “9.375% Notes”) and 4.750% Notes due 2022 (the “4.750% Notes”) and the outstanding 6.625% Notes due 2018 of Temple-Inland, Inc., a wholly-owned partner of the company, which notes are guaranteed by the company (the “6.625% Notes” and, together with the 7.500% Notes, the 7.950% Notes, the 9.375% Notes and the 4.750% Notes, the “Notes”).
The formerly declared expiration of withdrawal rights for the Tender Offer of 5:00 p.m., New York City time, on May 28, 2015, will not be extended; therefore, formerly tendered Notes may not be withdrawn after such time and any Notes tendered after such time will not have withdrawal rights.
The Tender Offer is subject to the satisfaction or waiver of certain conditions set forth in the Offer to Purchase, dated May 14, 2015 (as may be amended or supplemented from time to time, the “Offer to Purchase”). The condition that International Paper has obtained proceeds from a public offering of senior debt securities in an amount not less than the Tender Cap prior to the Early Tender Deadline has been satisfied.
International Paper Company operates as a paper and packaging company in North America, Europe, Latin America, Russia, Asia, Africa, and the Middle East. The company operates through three segments: Industrial Packaging, Printing Papers, and Consumer Packaging.
FedEx Corporation (NYSE:FDX), ended its Friday’s trading session with 1.45% gain, and closed at $182.23.
FedEx Corporation (FDX) declared it has permanently stepped down 15 aircraft and 21 related engines as it continues to rationalize capacity and modernize its aircraft fleet to more effectively serve FedEx Express customers.
The permanent retirement of aircraft and related engines comprises:
- Seven MD11 airframes and 12 related engines;
- Three A300 airframes and three related engines;
- Four A310-300 airframes and three related engines; and
- One MD10-10 airframe and three related engines.
The impact of retiring these aircraft, engines and related parts resulted in a non-cash impairment charge of $246 million recorded in May 2015.
FedEx has also adjusted the retirement plan of an additional 23 airframes and 57 engines. FedEx also recognized in May 2015 $30 million in cash charges associated with these actions. These combined retirement changes will not have a material impact on near-term depreciation expense.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; international trade advisory services, such as assistance with the customs-trade partnership against terrorism program; and customs clearance services, in addition to global trade data, an information tool that allows customers to track and manage imports.
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