On Wednesday, Shares of General Motors Company (NYSE:GM), gained 0.82% to $35.81, after the company’s CEO Mary Barra declared that by the end of this year, 14 Chevrolet models will have connected car technology from Apple (AAPL) and Google (GOOGL), AP reports.
“We’re putting it across our portfolio of Chevrolets as quickly as we can, because we want to make that technology accessible to everyone,” Barra said recently at the Code Conference in California, according to CNBC.
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, in addition to under the Alpheon, Baojun, Jiefang, and Wuling brand names.
The Palestinian market has seen a drop in the prices of a range of imported goods. This decline in global commodity prices dragged down the cost of many imports, which has affected negatively the domestic production levels. Such trends are predictable to persist in the short-term; future production is highly anticipated to decline further in the coming three months. Similar expectations were made about employment levels, albeit to a lesser extent.
It is worth to note that the PMABCI is a monthly index, which aims to capture the state and evolution of economic activity in Palestine by tracking the performance of the industrial sector, especially fluctuations in production and employment levels and their implications for the economy at large. The maximum value of the PMABCI is positive 100 point, while the minimum is minus 100 point; a positive value indicates favorable economic performance, while a negative value indicates bad performance. On the other hand, a value close to zero indicates that economic performance did not change and is unlikely to do so in the near future.
In U.S. Market, Shares of Emerson Electric Co. (NYSE:EMR), inclined 0.20% to $60.95, during its Wednesday’s trading session.
Emerson Electric Co. provides technology and engineering solutions to industrial, commercial, and consumer markets worldwide. It operates through five segments: Process Administration, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
At the end of Wednesday’s trade, Shares of FreeSeas Inc. (NASDAQ:FREE), lost -20.63% to $0.06, hitting its lowest level.
FreeSeas, declared that it has reached a contract with a group of Norwegian based investors for the financing of the acquisition of assets valued up to US$15 million. Upon the vessel acquisition by the investors, their ship-owning entities will enter into long-term bareboat charter agreement(s) with the Company’s auxiliaries counting a number of purchase options in the Company’s favour, on a profit-sharing basis with the investors. The Company shall identify suitable acquisition candidates within a six-month period. The investors shall be responsible for providing suitable bank financing of about up to 50% to 60% to enable the completion of the transaction. Depending on the final leverage and acquisition price, a charter hire rate of up to $5,600 per day shall be payable after the commencement of the charter.
FreeSeas Inc., through its auxiliaries, provides drybulk shipping services. Its vessels carry various drybulk commodities, such as iron ore, grain, and coal, in addition to bauxite, phosphate, fertilizers, steel products, cement, sugar, and rice. Its fleet comprises of five Handysize vessels and one Handymax vessel.
Finally, WPX Energy, Inc. (NYSE:WPX), ended its last trade with -2.70% loss, and closed at $12.99.
WPX Energy, has accomplished its third divestiture of the year, closing the sale of a package of Marcellus Shale marketing contracts and the release of certain related firm transportation capacity to an unrevealed buyer.
WPX received in excess of $200 million cash for various long-term natural gas purchase and sales agreements and was released from about $390 million in future demand payment obligations associated with 135 million Btu per day of firm transportation capacity on Transco’s Northeast Supply Link project.
WPX has been active on the acquisitions and divestiture front, reaching more than $1.5 billion in transactions over the past 12 months that raised the company’s financial flexibility.
During first-quarter 2015, WPX used proceeds from sales to repay preceding borrowings on its $1.5 billion senior unsecured credit facility and reduce its long-term debt by 12 percent.
WPX Energy, Inc., an independent natural gas and oil exploration and production company, engages in the exploitation and development of unconventional properties in the United States.
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