On Friday, Shares of Gran Tierra Energy, Inc. (NYSEMKT:GTE), dropped -0.83% to $3.59.
On April 22, Gran Tierra Energy, stated that West Face Capital Inc. has offered notice of its intent to nominate six candidates to stand for election to Gran Tierra’s Board of Directors at the 2015 Annual Meeting of Stockholders.
Gran Tierra issued the following statement:
The Gran Tierra Board of Directors and administration team are committed to enhancing stockholder value, and we are executing a plan that we believe will enable us to achieve this aim. We take the views of our stockholders seriously and have had, and will continue to have, conversations with West Face.
We believe that Gran Tierra’s current strategy of retaining balance sheet strength by minimizing or eliminating expenditures that have no immediate value at current oil prices and making noteworthy operating and general and administrative cost reductions and eliminations through resource re-allocation initiatives is the best path to maximize stockholder value and realize the full potential of our assets. The Gran Tierra Board has been candid about areas of underperformance and – recognizing the need for change – took decisive action to reshape the Company and usher in a new era at Gran Tierra. The Company is pursuing a strategy of focusing on its core Colombian properties, curtailing all discretionary expenditures elsewhere.
Gran Tierra’s Board at present is composed of four highly-qualified and proven leaders, three of whom are independent. They are active, engaged and have the expertise needed to drive success and build stockholder value, counting: extensive South American oil and gas energy experience: material participation leading other oil and gas exploration companies; experience with mergers and acquisitions; experience investing in, developing and growing oil and gas exploration companies; in addition to expertise in finance and accounting.
The Gran Tierra Board will consider West Face’s nominations in due course, will continue to look for other qualified nominees and will present details regarding the Board’s recommended slate of director nominees in the Company’s definitive proxy statement and other materials, to be filed with the Securities and Exchange Commission and mailed to all stockholders eligible to vote at the 2015 Annual Meeting, the date of which has yet to be declared.
Gran Tierra Energy Inc., an independent energy company, engages in the acquisition, exploration, development, and production of oil and gas properties in Colombia, Peru, and Brazil.
Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA), declined -0.82% to $85.98, during its last trading session.
Walgreens Boots Alliance, declared the San Francisco debut of the Well Beyond HIV™ campaign art exhibit, highlighting Bay Area residents aging well beyond their HIV diagnosis through portraits and interviews. The exhibit, curated in partnership with The Graying of AIDS, was opened to the public April 23 - 25 at the San Francisco LGBT Community Center.
According to the Centers for Disease Control and Prevention (CDC), about 1.2 million people in the U.S. are living with HIV and for the first time, half of those will be 50 years old or older this year. Left unaddressed, older adults living with HIV may lack the support needed to assist manage medications for HIV and other chronic conditions that are commonly associated with aging. Recognizing the unique care and support needed, Walgreens launched Well Beyond HIV, in Jan., to provide information and resources for those living with HIV and to assist inspire dialogue, eradicate stigmas and amplify the voices, faces and stories of those over 50 living with HIV.
Walgreens Boots Alliance, Inc., together with its auxiliaries, operates a network of drugstores in the United States. It provides consumer goods and services, pharmacy, and health and wellness services through drugstores, in addition to through mail, and by telephone and online.
At the end of Friday’s trade, Shares of Johnson Controls Inc. (NYSE:JCI), dwindled -0.79% to $52.48.
Johnson Controls, stated net income of $529 million, or $0.80 per share, on $9.2 billion in revenues. Not taking into account transaction / integration costs and non-recurring items, the Company said that diluted earnings per share in the 2015 quarter were $0.77, up 17 percent contrast with $0.66 in the same quarter last year. As a result of the formerly declared sale of its Global Workplace Solutions (GWS) business, the Company has reclassified GWS results to suspended operations and preceding year financial statements have been revised accordingly.
Not taking into account transaction / integration costs and non-recurring items in the second quarter, ongoing operations highlights comprise:
- Net revenues of $9.2 billion vs. $9.5 billion in Q2 2014, down 3 percent. Not taking into account the impact of foreign currency, revenues raised 4 percent.
- Income from business segment operations of $698 million contrast with $593 million a year ago, up 18 percent, or up 23 percent not taking into account the impact of foreign currency
- Segment income margin enhance of 130 basis points
- Diluted earnings per share from ongoing operations of $0.73 as compared to $0.61 last year, up 20 percent.
Non-recurring items in fiscal 2015 second quarter earnings comprise:
Ongoing operations (total net EPS reduction of $0.05 per share)
- Transaction / integration costs of $18 million ($16 million after-tax)
- Non-cash deferred tax charge of $17 million related to Japanese tax rate change
Suspended operations (total net EPS enhance of $0.08 per share)
- Gain on sale of GWS joint ventures of $200 million ($127 million after-tax)
- Transaction costs of $10 million ($8 million after-tax)
- Non-cash tax charge of $67 million related to the repatriation of GWS foreign cash
In the second quarter of 2014, the Company stated a non-recurring non-cash tax charge of $180 million related to the repatriation of Automotive Electronics foreign cash (net reduction of $0.27 per share).
Johnson Controls, Inc. operates as a diversified technology and industrial company worldwide. Its Building Efficiency segment designs, produces, markets, and installs integrated heating, ventilating, and air conditioning systems, in addition to building administration systems, controls, and security and mechanical equipment.
Finally, Hess Corporation (NYSE:HES), ended its last trade with -0.78% loss, and closed at $75.21.
Hess Corporation, has been ranked the No. 1 oil and gas company on Corporate Responsibility magazine’s prestigious list of 100 Best Corporate Citizens for 2015. The list recognizes public companies across the United States that demonstrated strong performance in such areas as environment, climate change, employee relations, human rights, governance, finance, and philanthropy and community support.
Hess has been named to the list each of the last eight years and is the No. 1 oil and gas company for the second successive year. Ratings are based on 303 data points of disclosure and performance measures from publicly-accessible information.
The 100 Best Corporate Citizens List ranks the Russell 1000 Index of publicly held U.S. companies. The methodology for generating the list is governed by the Ratings and Rankings Thought Leadership Council of the Corporate Responsibility Association (CRA).
Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids, and natural gas. The company primarily operates in the United States, Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand, Malaysia, and Norway.
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