On Tuesday, Windstream Holdings, Inc. (NASDAQ:WIN)’s shares declined -8.58% to $6.07.
Windstream (WIN), a leading provider of advanced network communications, declared the Smart Tomorrow Start-up Challenge, a $40,000 entrepreneurship contest for high school students in Lincoln, NE, Lexington, KY and Sugar Land, TX. Divided into local and final rounds, the competition challenges students to design a start-up business offering a product or service that can improve our communities and the way we live.
One winner will be selected from Lincoln, Lexington and Sugar Land to advance to the finals, where they will be tasked with creating a short, 2-3 minute video as if they are pitching the business to a team of investors. All three videos will be hosted on Inc.com for one week to allow visitors to vote for their favorite start-up idea. The results of the online vote will be considered alongside a vote from Windstream and an industry expert to determine the overall winner.
The winning student(s) will receive $20,000 and an additional $20,000 for their school’s parent-teacher association. Further, the two runners-up will receive $5,000 and matching donation of $5,000 for their parent-teacher association.
Windstream Holdings, Inc. provides communications and technology solutions in the United States. It offers managed services and cloud computing services to businesses, in addition to broadband, voice, and video services to consumers primarily in rural markets. The company’s primary business service offerings comprise integrated voice and data services, multi-site networking, data center services, managed services, high-speed Internet, and voice services.
Marsh & McLennan Companies, Inc. (NYSE:MMC)’s shares gained 0.47% to $51.78.
Mercer has reached a planned alliance with Transamerica whereby Transamerica will acquire Mercer’s US defined contribution (DC) administration book of business. Transamerica will also become Mercer’s preferred DC record keeping provider. The transaction is predictable to close by the end of 2015.
“We are excited about this alliance with Transamerica as both firms share a deep passion for service excellence and value delivery,” said Ken Haderer, Mercer’s Chief Operating Officer. “After the transaction is complete later this year, we will partner with Transamerica for our defined contribution recordkeeping administration business. We also want to clearly state that we are committed to ongoing to provide best of class service to our defined benefit and health clients through our own solutions.”
Marsh & McLennan Companies, Inc., a professional services firm, provides advice and solutions primarily in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services; and Consulting. The Risk and Insurance Services segment offers risk administration services, such as risk advice, risk transfer, risk control, and mitigation solutions, in addition to insurance, reinsurance broking, catastrophe and financial modeling services, and related advisory services.
Mercer’s US DC retirement administration business has more than US$71 billion in plan assets, 148 clients and more than 917,000 participants.
At the end of Tuesday’s trade, American Electric Power Company Inc (NYSE:AEP)‘s shares surged 0.48% to $56.13.
American Electric Power (AEP) declared that 7,209 megawatts (MW) of the company’s unregulated generation fleet in the PJM Interconnection cleared the capacity auction for the 2018-2019 delivery year, representing all of the capacity that AEP Generation Resources bid into the auction. Auction results were declared Aug. 21 at a clearing price of $164.77/megawatt-day. This auction was the first held under PJM’s new capacity performance system, designed to encourage investment in power plants and strengthen the reliability of the electric grid.
PJM also held two transitional auctions to incorporate capacity performance into its previous auctions for the 2016-2017 and 2017-2018 delivery years. In the 2016-2017 transitional auction accomplished Aug. 31, AEP Generation Resources cleared 7,169 MW at $134/megawatt-day. This replaces the original capacity auction clearing price of $59/megawatt-day for 2016-2017. AEP Generation Resources cleared 6,495 MW at $151.50/megawatt-day in the 2017-2018 transitional auction results declared Sept. 9, replacing the original auction clearing price of $120/megawatt-day.
American Electric Power Company, Inc., a public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.
Energy XXI Ltd (NASDAQ:EXXI), ended its Tuesday’s trading session with -6.68% loss, and closed at $0.952.
Energy XXI (EXXI.L) declared fiscal fourth-quarter and full-year financial and operating results for the period ended June 30, 2015, and offered an operations update. Highlights comprise:
- Production remaining stable into fiscal first quarter at 58,300 BOE/d.
- Current liquidity is $679 million.
- $124 million accessible on $500 million revolver.
- Proved reserves estimated at 183.5 MMBOE, 75 percent oil.
- Non-cash impairment causes ceiling test write-down due to commodity prices.
- Acquisitions and divestitures in fiscal fourth-quarter and to-date.
- Monetized Grand Isle Gathering System.
- Sold East Bay field.
- Attained producing Gulf of Mexico assets from M21K, LLC.
- Cost control efforts driving per barrel equivalent costs lower.
- LOE down 30 percent from fiscal 4Q2014 to 4Q2015.
- G&A down 36 percent from fiscal 4Q2014 to 4Q2015.
Energy XXI (Bermuda) Limited is engaged in the acquisition, exploration, development, production, and operation of oil and natural gas properties onshore in Louisiana and Texas, and on the Gulf of Mexico. As of June 30, 2014, the company had proved reserves of 246.2 million barrels of oil equivalent.
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