Exxon Mobil To Develop Oil Field Offshore Guyana

Exxon Mobil To Develop Oil Field Offshore Guyana

Exxon Mobil shares were barely higher pre-market Friday after the company reported it will develop the Liza field offshore of Guyana, which it described as “one of the largest oil discoveries of the past decade.” The oil major said the Liza field is expected to initially produce about 120,000 barrels a day, with production expected to start in 2020. Exxon said gross recoverable resources on Stabroek block of the Liza […]

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European ADRs Trading Lower

European ADRs Trading Lower

American depositary receipts of European stocks were trading 0.49% lower at 133.43 on the Bank of New York Mellon Europe ADR Index on Monday. In continental Europe, the gainers were led by medical equipment company Edap (EDAP), which surged 9.7%, followed by biopharmaceutical company Argenx (ARGX), which increased 3.4%. Communications services provider VEON Com (VEON), and healthcare company Novo Nordisk (NVO) rose 2.4% and 1.6% each. The decliners in continental […]

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Five Point Initiated at Outperform by RBC

Five Point Initiated at Outperform by RBC

Five Point Holdings received an outperform investment rating from RBC Capital Markets, which initiated coverage of the developer of mixed-use, planned communities in coastal California with a price target of $19 per share. The price target compares with a Friday closing price of $15.70. The stock went public in mid-May at an initial-public-offering price of $14 per share. In a note to clients, RBC described Five Point Holdings’ stock as […]

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BioScrip Reaches Deal on Contract

BioScrip Reaches Deal on Contract

BioScrip has reached an agreement to continue to provide certain core product lines to UnitedHealthcare beyond Sept. 30, the company said Tuesday. Shares were up over 10% in recent pre-market trade. UnitedHealthcare was the company’s biggest client, accounting for 24% of 2016 revenue, prior to an announcement in March that BioScrip would cancel the “unprofitable” contact. With this new agreement, BioScrip says it will retain approximately $35 million of annualized […]

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Hostess Brands Refinances First Lien Term Loan

Hostess Brands Refinances First Lien Term Loan

Shares of Hostess Brands were barely higher Monday after the packaged food company said it expects full-year annualized interest expense savings of $5 million or up to $0.02 per share as a result of a repricing of its existing first lien term loan. The first lien term loan was repriced to LIBOR plus 2.5% from LIBOR plus 3.0%. The LIBOR floor was reduced to 75 basis points from 100 basis […]

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