Goodrich Petroleum Corporation (NYSE: GDP) announced today that it has suspended the quarterly dividends for the quarter ending December 31, 2015 on its 5.375% Series B Cumulative Convertible Preferred Stock ("Series B"), its 10.00% Series C Cumulative Preferred Stock ("Series C"), and its 9.75% Series D Cumulative Preferred Stock ("Series D").
Under the terms of the Series B, Series C and Series D, any unpaid dividends, including the unpaid dividends for the quarter ending December 31, 2015 and any future unpaid dividends, will accumulate. If the Company does not pay dividends on its Series B, Series C and Series D for six quarterly periods (whether consecutive or non-consecutive), the holders of each series of preferred stock will have the right to elect two additional directors to serve on the Company's Board of Directors until all accumulated and unpaid dividends are paid in full. The dividend rate per annum on the Series B will be increased 1% per annum until all accumulated and unpaid dividends are paid in full.
The Series B was issued in 2005 and 2006 and trades on the OTCQB market under the symbol "GDPAN". The Series C was issued on April 10,
AmSurg Corp. (NASDAQ: AMSG) today announced that it has
priced its underwritten public offering of 5,500,000 shares of its
common stock at a price of $80.00 per share. The net proceeds from the
offering will be approximately $422 million, after estimated issuance
discounts and commissions. AmSurg intends to use the net proceeds from
the offering to repay outstanding indebtedness under its revolving
credit facility borrowed to fund its recent acquisitions, to fund a
portion of the approximately $500 million of acquisition opportunities
in its pipeline that are under letter of intent and targeted to close
between now and the end of the first quarter of 2016 and for other
general corporate purposes. In addition, AmSurg has granted the
underwriters a 30-day
LTC Properties, Inc. (NYSE: LTC), a real estate investment trust that primarily invests in seniors housing and health care properties, announced today that it has acquired two skilled nursing centers in Texas for $23.0 million.
The properties, comprising 254 licensed beds, will be added to an existing master lease with Senior Care Centers, LLC at an incremental initial cash yield of 8.25%. Rent will escalate annually by 2.5% through July 2021, and then 3% annually thereafter.
"We are pleased to be expanding our relationship with Senior Care Centers, an important and long-standing LTC operating partner. Over the last five years, we have made gross investments totaling approximately $140 million with Senior Care, contributing to our growth and enhancing the quality and average age of our portfolio," said Wendy Simpson, LTC's Chairman and Chief Executive Officer. "This acquisition is the culmination of a great year for LTC, with investments and development commitments exceeding $400 million, driving continued growth for the Company."
As part of its asset rebalancing program, NRG Energy, Inc. (NYSE: NRG) has agreed to sell two of its generating stations: the 525 MW Seward power plant in New Florence, Pennsylvania and the 352 MW Shelby County power plant in Neoga, Illinois.
"NRG is focused on maintaining a robust presence and balance through conventional generation assets that complement each other in respect to geography, technology and smart fuel diversity," said David Crane, CEO NRG. "By streamlining our fleet, we can create additional value for our shareholders and meet the needs of our customers with reliable, efficient and economic power. This is part of our ongoing and deliberate strategy of portfolio optimization."
The Seward facility, which is located in the PJM Interconnection, is being acquired by Seward Generation, LLC, a Robindale Energy Services, Inc. company. As part of the sale agreement, NRG Energy Services will provide operations and maintenance services to the Seward plant on behalf of Robindale Energy using the current NRG workforce.
The Shelby County facility, which is located in the MISO Interconnection, is being acquired by an affiliate of Rockland Capital, LLC. The station is a 352 MW natural gas-fueled, simple-cycle combustion turbine peaking plant with eight General Electric LM6000 aero-derivative combustion units.
"Operating a diverse generation fleet is a key component of NRG's continued success in every region in which we operate," said Mauricio Gutierrez, COO NRG. "As part of our asset optimization initiative, we've identified a few specific facilities that would be better suited in other hands in markets where we can transact at good value while avoiding future capital expenditures."
The aggregate purchase price for the two generation facilities, both of which are owned by GenOn Energy Inc, an excluded project subsidiary of NRG, is approximately $138 million comprised of cash and other consideration. Together, these assets were projected to average $10.5 million of Adjusted EBITDA annually over the next 3 years and require approximately $17 million in maintenance capital expenditures over the same period1. The transactions are expected to close in the first quarter of 2016, subject to regulatory approvals, including the Federal Energy Regulatory Commission.
Table 1: Adjusted EBITDA
($ in millions) 2016-2018
Income before Income Taxes $ (2.7)
Depreciation and Amortization 13.2
Adjusted EBITDA $ 10.5
Shares of Bob Evans Farms Inc (NASDAQ: BOBE) were trading down more than 5.3 percent on Tuesday’s after-hours session, following the announcement of the company’s second quarter -- fiscal 2016 -- financial results.
The small-cap full-service restaurant operator reported earnings of $0.41 per share on revenue of $325.02 million, slightly above the Street’s consensus estimate of $0.40 per share and $323.35 million.
In addition, it was announced that the Board of Directors had approved a $100 million increase in share repurchase authorization to $250 million, from a previous $150 million.
Opposite were the cases of Ascena Retail Group Inc (NASDAQ: ASNA) and Guidewire Software Inc (NYSE: GWRE), two Smid-caps that reported their first quarter (fiscal 2016) financial results after the market closed on Tuesday. Ascena’s stock gained roughly 1.4 percent since the bell rang, while Guidewire’s shares rose more than 5 percent.
The former, a specialty retailer, reported earnings of $0.36 per share on revenue of $1.794 billion, beating the Street’s earnings projection (and in line with the revenue estimate), which called for earnings of $0.29 per share on sales of $1.796
Guidewire, a software provider, delivered earnings of $0.07 per share on revenue of $82.3 million, once again, ahead of the Street’s consensus of $0.03 per share and $81.5 million.
Finally, there’s Apigee Corp (NASDAQ: APIC), which surged more than 13 percent in after-hours trading, after reporting a net loss of ($0.38) per share on revenue of $20.55 million, beating experts’ consensus estimate, which called for a net loss of ($0.41) per share on sales of $19.78 million.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Piper Jaffray's 27th annual Health Care Conference kicked off on Tuesday in New York City with many notable health care service companies taking part in the event and making announcements.
Here is a roundup of 15 companies that have confirmed their attendance in the event:
Abeona Therapeutics Inc (NASDAQ: ABEO) develops and delivers gene therapy and plasma-based products for rare diseases.
Applied Genetic Technologies Corp (NASDAQ: AGTC) is a clinical stage biotechnology company that develops gene therapy products for the treatment of inherited and acquired diseases.
Aratana Therapeutics Inc (NASDAQ: PETX) is a therapeutics company focused on licensing, developing and commercializing of biopharmaceutical products for animals.
C R Bard Inc (NYSE: BCR) designs, manufacturers, packages, distributes, and sales medical, surgical, diagnostic and patient care devices.
Cellectis SA (ADR) (NASDAQ: CLLS) is a France-based company that is active in the field of genome engineering and genomic surgery.
Cepheid (NASDAQ: CPHD) develops, manufactures, and markets systems to enable molecular testing for organisms and genetic-based diseases.
Collegium Pharmaceutical Inc (NASDAQ: COLL) is a specialty pharmaceutical company that plans on commercializing abuse-deterrent products.
ContraFect Corp (NASDAQ: CFRX) is a biotechnology company focused on protein and antibody therapeutic products for life-threatening infectious diseases.
CymaBay Therapeutics Inc (NASDAQ: CBAY) is a small-cap biopharmaceutical company that is focused on developing therapies to treat metabolic diseases.
Envision Healthcare Holdings Inc (NYSE: EVHC) provides physician-led, outsourced medical services.
Geron Corporation (NASDAQ: GERN) is a clinical stage biopharmaceutical company focused on the development of a telomerase inhibitor.
Gilead Sciences, Inc. (NASDAQ: GILD) is an industry leader with a $150 billion-plus market cap to discovers, develops, and commercializes innovative medicines.
NewLink Genetics Corp (NASDAQ: NLNK) is a biopharmaceutical company focused on discovering, developing and commercializing immunotherapeutic products for cancer treatment.
Pfizer Inc. (NYSE: PFE), another industry giant with a $200 billion-plus market cap, is engaged in discovering, developing and manufacturing a wide range of healthcare products.
Summit Therapeutics PLC (ADR) (NASDAQ: SMMT) is a UK-based biopharmaceutical company that is focused on the discovery, development, and commercialization of medicines for indicators in which there exists no adequate therapy.
Bill Barrett Corporation (the "Company") (NYSE: BBG) today announced that it has closed the previously announced sales of non-core properties located in the Uinta Basin and DJ Basin, respectively, for net cash proceeds of approximately $56 million, subject to customary post-closing purchase price adjustments. The sale of these properties did not result in a reduction of the Company's borrowing base related to its revolving credit facility. The proceeds from these sales will be used for general corporate purposes.
After a strong 8.3 percent gain in the month of October, the S&P 500 traded mostly flat throughout the month of November. After a mid-month dip as low as 2019, the S&P closed out the month at around the 2080 level.
The month brought some huge stock moves in both directions, as Q3 earnings reports and news of M&A deals poured in throughout November. Here’s a list of the five best-performing S&P 500 stocks in the past month.
The number five top performer saw a huge November price spike not on earnings news, but on buyout news. Norfolk Southern’s stock jumped 11 percent on November 9 after reports surfaced that Canadian Pacific Railway Limited (USA) (NYSE: CP) was raising funds in an effort to acquire Norfolk.
Norfolk Southern closed out November up 18.0 percent on the month.
Plum Creek finished November up 25.6 percent on the month.
Illumina marked a grand arrival to the S&P 500 by finishing the month as one of the index’s top performers. When it was announced on November 13 that Illumina would be joining the S&P 500, the company’s shares surged 7.9 percent.
Illumina finished November up 26.2 percent.
Qorvo is the biggest earnings mover on this month’s list. Qorvo jumped 12 percent when the company beat Q3 earnings expectations and announced a new $1 billion share repurchase program.
Qorvo finished the month of November up 32.5 percent.
On November 17, Airgas announced a $13.4 billion merger with Air Liquide at a buyout price nearly 50 percent higher than Airgas’s one-month average share price. The stock ultimately climbed 42.7 percent in November.
Year-to-date, however, digital video giant Netflix, Inc. (NASDAQ: NFLX) remains the top performer in the S&P 500, gaining 152.7 percent so far in 2015.
Disclosure: the author holds no position in the stocks mentioned.
ChannelAdvisor Corporation (NYSE: ECOM), a leading provider of cloud-based e-commerce solutions that enable retailers and manufacturers to increase global sales, today announced that its Same Store Sales report shows that Cyber Monday is so far the biggest online shopping day of 2015. The e-commerce software company's customers increased their total e-commerce same store sales (SSS) by 18 percent year over year on Cyber Monday (Nov. 30, 2015) and 20.9 percent year over year during the five days from Thanksgiving (Nov. 27, 2015) through Cyber Monday — the Cyber Five. Branded manufacturers and retailers using the ChannelAdvisor platform to sell online processed more than a quarter billion dollars in gross merchandise value (GMV) over the Cyber Five, a new record for ChannelAdvisor.
During the Cyber Five, other third-party marketplaces (a grouping of online marketplaces excluding Amazon and eBay) had the highest growth rate of all channels measured by the e-commerce software company, growing 82.8 percent year over year. Additionally, retailers grew their sales by 24.1 percent year over year on Amazon, 24.3 percent year over year on Google Shopping and 2.6 percent year over year on eBay.
"It was exciting to see many of our customers exceed industry forecasts over the holiday weekend and watch e-commerce take more share of holiday purchases," said ChannelAdvisor Executive Chairman Scot Wingo. "While Cyber Monday was still the biggest shopping day of the holiday period, consumers continued 2014's trend of shopping more aggressively on Thanksgiving, which became the third-biggest shopping day of the Cyber Five weekend. We'll closely watch the growth of Thanksgiving sales next year to see if they can surpass Black Friday as the second-biggest online shopping day."
For the first time ever, more than 60 percent of traffic driven by search and comparison shopping engines across the ChannelAdvisor platform came from mobile devices (smartphone and tablets) during the Cyber Five period. This number indicates that consumers are increasingly using their smartphones and tablets to do their holiday shopping.
"Many brands and retailers had their ‘mobile moment' in 2015, when more than 50 percent of their total web traffic came from mobile devices," said Wingo. "So far this holiday season, mobile traffic has hovered around 60 percent. Compare that with last year — when mobile traffic was 40 percent — and you can see that consumer behavior is rapidly evolving."
ChannelAdvisor serves more than 2,900 customers, and the SSS reports highlight transactional data for the billions of dollars in gross merchandise value (GMV) that flows through the ChannelAdvisor platform, excluding recent customer additions and attrition. GMV represents the overall volume of product sales made on a particular channel. These reports are used to measure the impact each channel is having on e-commerce during the industry's busiest time of year.
To receive ChannelAdvisor's holiday-to-date SSS reports, subscribe to the ChannelAdvisor blog by visiting bit.ly/ChannelAdvisorBlog.
For more details about ChannelAdvisor, visit our blog, follow us on Twitter @ChannelAdvisor, Like us on Facebook and connect with us on LinkedIn.
Starbreeze AB, an independent creator, publisher and distributor of high quality entertainment products, and 505 Games today announced that they will integrate characters and storylines from the upcoming action thriller Point Break into PAYDAY 2 as the result of a unique and exciting collaboration with Alcon Entertainment, Warner Bros. Pictures, and Lionsgate (NYSE: LGF).
The Point Break Heists and the Bodhi Character Pack for PAYDAY 2 will be released worldwide on December 3 in anticipation of the global release of Point Break, which opens in theaters beginning on December 25. The Point Break Heists DLC for PAYDAY 2 will retail at $6.99 and contain two all new heists - Beneath the Mountain and Birth of Sky. The Bodhi Character Pack DLC will be free for all PAYDAY 2 players and will welcome Bodhi to the gang of heisters.
The unprecedented partnership between Starbreeze, 505, Alcon, Warner Bros. and Lionsgate builds upon a previous collaboration between Starbreeze and Lionsgate. The two companies worked together to integrate Lionsgate's popular John Wick film into PAYDAY 2 and subsequently developed the highly anticipated John Wick VR game, planned for release in Spring 2016.
"Point Break has always been a huge inspiration for the PAYDAY games, so to be able to integrate the film's characters and storylines into PAYDAY 2 is a dream come true," said Bo Andersson-Klint, CEO of Starbreeze. "We previously worked closely with Lionsgate on the successful addition of their character John Wick as a member of the PAYDAY gang, so using that same business model, Lionsgate introduced us to Alcon and Warner Bros. to create two Point Break heists that we believe are some of the best to date."
"In working with our partners at Starbreeze on the upcoming John Wick VR game, we realized that we had an opportunity to build on that success with Point Break while also embarking on an unprecedented collaboration with our colleagues at Alcon and Warner Bros.," said Lionsgate President of Interactive Ventures and Games Peter Levin. "As we continue to look for fun, exciting ways to integrate Lionsgate's IP into the gaming space, we believe that having the creative teams and IP owners work together with game developers is the ideal way to create the best experience for avid fans."
"We look forward to an exciting collaboration with Starbreeze and 505 Games on this project, along with Lionsgate and Warner Bros.," said Andrew Kosove and Broderick Johnson, Co-Founders and Co-CEO's of Alcon Entertainment. "We believe this reimagining of Point Break lends itself to many platforms and gaming in particular as it will allow players to be a part of the action."
The Point Break Heists include music from the Original Motion Picture Soundtrack Point Break, available globally December 4th on ASG Records. As an extension of the collaboration, the lead single from the soundtrack, "Still Breathing," from Rock trio, Dig The Kid, is featured in the game's trailer and menus.
POINT BREAK DLC - $6.99
2 new heists - Beneath the Mountain & Birth of Sky
10 new achievements - 5 for each heist
A new pistol secondary weapon
Four melee weapons
6 new songs added- 2 all-new heist themes composed Simon Viklund, and 4 menu themes from the Point Break soundtrack [http://smarturl.it/PointBreak].
New contact – Locke
Bodhi Character Pack DLC – FREE
Bodhi - new playable character
A new sniper rifle primary weapon
A new melee weapon
A new perk deck featuring 9 perks
2 new masks
For more information regarding the Point Break DLC's, please visit http://www.overkillsoftware.com/games/pointbreak/
First launched in 2011, PAYDAY is a cooperative first-person shooter computer and video game franchise with more than 9 million players on PC, PlayStation 3 and Xbox 360.
For more information, please contact:
Almir Listo, Global Brand Director, Press Inquirers, Starbreeze AB
Tel: +46(0)8-209 208, email: email@example.com
Maeva Sponbergs, Investor Relations, Starbreeze AB
Tel: +46(0)8-209 208, email: firstname.lastname@example.org