On Wednesday, First Horizon National Corp (NYSE:FHN)’s shares inclined 0.44% to $15.88.
First Horizon National Corp (FHN) a Memphis, TN-based financial services company on Jun 22, 2015. The company has attractive growth prospects given its various restructuring initiatives in addition to an extended focus on cost control.
Since 2008, First Horizon has been effectively divesting its mortgage and legacy national lending portfolios, and intends to continue with the planned wind down. Such measures will provide the company with additional resources, giving it an opportunity to deploy excess capital through dividend increments and share buybacks.
Further, First Horizon has been cautiously controlling expenses through process improvement, branch network optimization and other efficiencies together with lowering its corporate real estate footprint. It is also attempting to curtail its annual expenses by another $20–$50 million, going forward. Notably, non-interest expenses have declined at a 3-year CAGR of 22% (2012–2015). This is likely to enhance the company’s bottom-line expansion.
First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services in the United States and internationally. The company offers general banking services for consumers, businesses, financial institutions, and governments. It also provides investments, financial planning, trust, asset administration, credit card, and cash administration services.
Baldwin Technology Co. (NYSEMKT:BLD)’s shares dropped -3.02% to $29.19.
TopBuild Corp. (BLD), the leading installer and distributor of insulation products to the United States construction industry, declared recently the successful completion of its spin-off from Masco Corporation (MAS) into an independent, publicly‑traded company.
TopBuild is comprised of the former Masco Contractor Services business, now called TruTeam, a nationwide installer of insulation, and Service Partners, a nationwide distributor of residential insulation products and related accessories. TopBuild stated revenue of $1.5 billion in 2014, which represents a compound annual growth rate of 12% since 2012.
After market close on June 30, 2015, Masco Corporation distributed to its stockholders one share of TopBuild common stock for every nine shares of Masco common stock held at time of close of business on the record date of June 19, 2015. TopBuild common stock will start “regular-way” trading recently under the symbol “BLD” on the New York Stock Exchange.
TopBuild Corp. installs insulation and other building products in the United States. The company operates in two segments, Installation and Distribution. It offers residential insulation services; and installs indoor and outdoor fireplaces, gutters, garage doors, closet shelves, shower doors, and others, in addition to roofing.
At the end of Wednesday’s trade, OGE Energy Corp. (NYSE:OGE)‘s shares surged 0.66% to $28.92.
The ASA/USA Softball Hall of Fame Museum and four-field complex has become the first softball venue and predominately women’s athletic venue in the country to earn the EPA Green Power Partnership with their commitment to offset 100 percent of its electricity consumption with renewable wind power, following a recent agreement with OGE Energy Corp. (OGE).
The 10-year agreement between ASA/USA Softball and OG&E provides the ASA Hall of Fame complex with renewable energy credits for its OGE Energy Field, ancillary fields, museum and administrative offices. This encompasses the new improvements with the completion of the first phase of its multi-million dollar renovation.
ASA/USA Softball and OG&E have partnered to create a state-of-the-art electric technology venue, an outcome of the 20-year agreement formed last year between OGE Energy Corp. and Oklahoma City All Sports Association to support the venue improvements required to retain the NCAA WCWS. Other elements of the partnership comprise the stadium field name, now called OGE Energy Field, in addition to adding a platform to educate fans and OG&E customers on wise energy use for residential and commercial application.
A partner of OGE Energy Corp., OG&E serves more than 800,000 customers in a service territory spanning 30,000 square miles in Oklahoma and Western Arkansas. The company is a leading provider of renewable energy in Oklahoma, accounting for 850 MW of renewable energy, representing about 10 percent of the company’s total generation capability.
OGE Energy Corp., together with its auxiliaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations. The Electric Utility segment generates, transmits, distributes, and sells electric energy in Oklahoma and western Arkansas.
Akorn, Inc. (NASDAQ:AKRX), ended its Wednesday’s trading session with -0.96% loss, and closed at $44.30.
Akorn, Inc. (AKRX), a leading specialty pharmaceutical company, declared that it has launched Acetylcysteine Injection 6 g/30 mL in 30 mL single-dose vials. The launch follows an approval of an abbreviated new drug application (ANDA) for the product from the U.S. Food and Drug Administration (FDA) on March 24, 2015. Akorn’s product is therapeutically equivalent to Acetadote(R) injection marketed by Cumberland Pharmaceuticals Inc.
Akorn, Inc. develops, manufactures, and markets generic and branded prescription pharmaceuticals, in addition to animal and over-the-counter (OTC) consumer health products in the United States and internationally. It operates through two segments, Prescription Pharmaceuticals and Consumer Health. The Prescription Pharmaceuticals segment markets generic and branded ophthalmics, injectables, oral liquids, otics, topical, inhalants, and nasal sprays. This segments generic products comprise Clobetasol Propionate, a corticosteroid, which is used to treat various skin conditions; Fluticasone Propionate, a corticosteroid used for nasal symptoms of allergic and non-allergic rhinitis conditions; Lidocaine/Prilocaine, a topical anesthetic; Progesterone, which is used to prevent endometrial hyperplasia; Vancomycin, an antibiotic used to treat bacterial infections; and other products.
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