On Wednesday, Hecla Mining Corporation (NYSE:HL)’s shares dwindled -2.51%, and closed at $3.11, as Hecla Mining Corporation (HL), President and CEO, Phillips S. Baker, Jr., will present at the European Gold Forum in Zurich, Switzerland, on Wednesday, April 15, 2015 at 9:30 a.m. (CET).
Hecla Mining Corporation, together with its auxiliaries, discovers, attains, develops, produces, and markets precious and base metal deposits worldwide. The corporation offers unrefined gold and silver bullion bars to precious metals traders; and lead, zinc, and bulk concentrates to custom smelters and brokers. It owns 100% interests in the Greens Creek mine located on Admiralty Island in Southeast Alaska; the Lucky Friday unit located in the Coeur d’Alene mining district in northern Idaho; and the Casa Berardi mine located in the Abitibi region of north-western Quebec, Canada. The corporation was founded in 1891 and is based in Coeur d’Alene, Idaho.
United States Steel Corporation (NYSE:X)’s shares dropped -1.74%, and settled at $24.22, during the last trading session on Wednesday, soon after United States Steel Corporation (X), declared it will adjust operations and temporarily idle a portion of its Minnesota Ore Operations – Minntac plant in Mt. Iron, Minn., effective June 1. This action is due to the corporation’s current inventory levels and ongoing adjustment of its steelmaking operations throughout North America. The corporation will continue to operate Minntac at reduced capacity in order to meet customer demand.
The corporation routinely adjusts production at its operating facilities to reflect market fluctuations. These ongoing operational adjustments are a result of challenging market conditions that reflect the cyclical nature of the industry. Global influences in the market, counting a high level of imports, unfairly traded products and reduced steel prices, continue to have an influence. As part of the temporary idling, all employees at Minntac have been advised of the forthcoming temporary idling and are being issued notices under the Worker Adjustment and Retraining Notification (WARN) Act. The number of employees influenceed will be based upon operational and, or maintenance needs.
United States Steel Corporation produces and sells flat-rolled and tubular steel products in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
At the end of Wednesday’s trade, FelCor Lodging Trust Incorporated (NYSE:FCH)’s shares dipped -2.29%, and closed at $11.52, as FelCor Lodging Trust Incorporated (FCH), declared that it priced its public offering of 16.0 million shares of its ordinary stock (the “Offering”) at $11.25 per share. FelCor granted the underwriters a 30-day option to purchase up to 2.4 million additional shares of ordinary stock.
J.P. Morgan, BofA Merrill Lynch, and Deutsche Bank Securities acted as joint book-running managers for the Offering. Credit Suisse, Fifth Third Securities, Goldman, Sachs & Co., and Scotiabank acted as senior co-managers, and BBVA, FBR, JMP Securities and Piper Jaffray acted as co-managers.
FelCor estimates that the net proceeds from the Offering, after deducting underwriting discounts and commissions and expenses, will be about $172.6 million (about $198.5 million if the underwriters’ option to purchase additional shares is exercised in full). FelCor will use the net proceeds from this offering to redeem its 8% Series C Cumulative Redeemable Preferred Stock and corresponding depositary shares. This redemption is part of FelCor’s long-term strategy to strengthen its balance sheet and reduce leverage, improve its portfolio quality and enhance returns on investment.
FelCor Lodging Trust Incorporated is a publicly owned real estate investment trust. The firm engages in investment and administration of properties in the hospitality industry. It invests in the real estate markets of the United States.
Xylem Inc (NYSE:XYL), ended its Wednesday’s trading session with -2.27% loss, and closed at $35.25, after Xylem Inc (XYL), will release its first-quarter results at 7:00 a.m. EDT on Thursday, April 30. At 9:00 a.m. EDT, Xylem’s senior administration team will host a conference call with investors.
Xylem Inc. engages in the design, manufacture, and application of engineered technologies for the water and wastewater applications. The corporation operates in two segments, Water Infrastructure and Applied Water. The Water Infrastructure segment offers various products, counting water and wastewater pumps, treatment and testing equipment, and controls and systems, in addition to filtration, disinfection, and biological treatment equipment under the Flygt, WEDECO, Godwin, WTW, Sanitaire, YSI, and Leopold names for transportation, treatment, and testing of water and wastewater for public utilities and industrial applications.
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