On Tuesday, Shares of AK Steel Holding Corporation (NYSE:AKS), gained 3.42% to $2.42.
AK Steel Holding Corporation, declared that James L. Wainscott, who has served as President and CEO since October of 2003 and Chairman of the Board since January of 2006, has declared his intention to retire as President and Chief Executive Officer, effective January 1, 2016. He will continue to serve as Executive Chairman, President and CEO of the company until his retirement on January 1, 2016, after which he will continue to serve as Chairman of the Board of Directors in a Non-Executive capacity.
Related to this change, the AK Steel Board of Directors made the following appointments, effective January 1, 2016:
- Roger K. Newport, age 50, is designated Chief Executive Officer and a Member of the Board of Directors;
- Kirk W. Reich, age 47, is designated President and Chief Operating Officer reporting to Roger Newport; and,
- James L. Wainscott, age 58, will continue to serve as Chairman of the Board of Directors.
AK Steel Holding Corporation, through its partner, AK Steel Corporation, produces flat-rolled carbon, stainless and electrical steel, and tubular products in the United States and internationally. It produces flat-rolled value-added carbon steels, counting coated, cold-rolled, and hot-rolled carbon steel products; and specialty stainless and electrical steels in sheet and strip forms.
Shares of Anadarko Petroleum Corporation (NYSE:APC), declined -5.38% to $65.29, during its last trading session.
Anadarko Petroleum Corporation, declared its financial and operating results for the third quarter of 2015, counting a net loss attributable to common stockholders of $2.235 billion, or $4.41 per share (diluted). These results comprise certain items typically excluded by the investment community in published estimates, which in aggregate reduced net income by $1.877 billion or $3.69 per share (diluted), on an after-tax basis. Net cash flow from operating activities in the third quarter of 2015 was $1.127 billion, and discretionary cash flow from operations totaled $979 million.
HIGHLIGHTS
- Exceeded the midpoint of guidance by 6,000 barrels per day of higher-margin U.S. oil sales volumes
- Achieved capital expenditures and lease operating expense (LOE) per barrel of oil equivalent (BOE) below the low end of guidance
- Accomplished a successful appraisal test at the Shenandoah field in the Gulf of Mexico
- Accomplished a project milestone at the Heidelberg spar with the setting of the topsides
- Continued to actively manage the portfolio by monetizing nearly $2 billion of assets year to date
“We remain committed to building and preserving value in this challenging environment,” said Anadarko Chairman, President and CEO Al Walker. “During the third quarter, we continued our focus on maintaining long-term flexibility, while enhancing short-cycle returns by delivering higher-margin sales volumes for lower costs. Our employees have continued to do outstanding work optimizing our performance by moderating our base decline, safely improving efficiencies and rig productivity, and achieving greater cost savings. These efforts and achievements have us well positioned to create differentiating value recently and to accelerate activity when the market starts to reward growth again.”
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Oil and Gas Exploration and Production; Midstream; and Marketing.