During Thursday’s trade, Shares of Halliburton Company (NYSE:HAL), lost -2.70% to $37.90.
Halliburton, declared the pricing of an offering of $7.5 billion aggregate principal amount of senior notes. The notes are being issued in five tranches: $1.25 billion of 5-year notes bearing interest at a fixed rate of 2.70% per year and maturing on November 15, 2020; $1.25 billion of 7-year notes bearing interest at a fixed rate of 3.375% per year and maturing on November 15, 2022; $2 billion of 10-year notes bearing interest at a fixed rate of 3.80% per year and maturing on November 15, 2025; $1 billion of 20-year notes bearing interest at a fixed rate of 4.85% per year and maturing on November 15, 2035; and $2 billion of 30-year notes bearing interest at a fixed rate of 5.00% per year and maturing on November 15, 2045. The offering is predictable to close on November 13, 2015.
Halliburton intends to use the net proceeds of the offering for general corporate purposes, counting financing a portion of the cash consideration component of Halliburton’s pending acquisition of Baker Hughes Incorporated (“Baker Hughes�?). In the event that the Baker Hughes acquisition is not consummated, Halliburton intends to use the net proceeds from the sale of the 2025 notes, the 2035 notes and the 2045 notes for general corporate purposes. The 2020 notes and the 2022 notes will be subject to a special mandatory redemption if the Baker Hughes acquisition is not consummated. Pending the application of the net proceeds to finance the Baker Hughes acquisition, Halliburton may temporarily invest the net proceeds in cash equivalents or short-term investments.
Shares of Spectra Energy Corp. (NYSE:SE), declined -2.01% to $24.83, during its current trading session.
Union Gas is holding an open season for incremental firm capacity of up to 350,000 GJ/d starting in 2018 and an additional 600,000 GJ/d in 2019 along the transportation paths.
The open season offers firm access to the liquidity and diversity of the Dawn Hub in addition to access to Appalachian supply predictable to be available at the Dawn Hub imported through Dawn, Niagara and Chippawa in 2018 and 2019. Customers in eastern Canada and the U.S. Northeast can access these supply points by aligning Union Gas transportation service with capacity on TransCanada and interconnecting systems in the U.S.
The Dawn Hub, one of North Americas most liquid natural gas trading hubs, is the largest integrated natural gas storage facility in Canada and one of the biggest in North America . The Dawn Hubs planned location in southwestern Ontario provides direct access to most of North Americas major supply basins, counting Utica and Marcellus. With multiple routes from western Canada , mid-continent, the Rockies, and the Gulf of Mexico all supplying Dawn, in addition to the ability to reach markets in eastern Canadian and the U.S. Northeast, the Dawn Hub provides a deep and liquid market.
Finally, Shares of Bob Evans Farms Inc (NASDAQ:BOBE), gained 0.76%, and is now trading at $39.90.
Bob Evans Farms, declared its financial results for the fiscal 2016 second quarter ended Friday, October 23, 2015. On a GAAP basis, the Company stated net income of $6.4 million, or $0.29 per diluted share, contrast with net income of $6.0 million, or $0.25 per diluted share, in the corresponding period last year. On an adjusted basis , non-GAAP net income was $9.2 million, or $0.41 per diluted share, contrast with net income of $8.6 million, or $0.36 per diluted share, in the corresponding period last year.
Second quarter fiscal 2016 commentary
Executive Chairman Doug Benham said, Our teams continue focusing their efforts on improvements in both of our businesses and execution of planned initiatives. BEF Foods had another successful quarter with double-digit pounds sold percentage gains in both refrigerated dinner side dishes and sausage and is poised for a strong holiday selling season.
At Bob Evans Restaurants, second-quarter same-store sales performance did not meet our expectations. Turnarounds are often choppy, and our second quarter restaurant sales results reflect that. We continue testing and evaluating promotional and menu strategies to drive sustainable and profitable sales growth. We are committed to the overall strategy we outlined last quarter: improving the quality of our food offerings; lowering overall discounting that was historically used to drive transactions; and optimizing our menu design and investments in labor to deliver a better guest experience. We recently relaunched a more profitable three-course dinner platform system-wide to address weakness at dinner; began rolling out further product enhancements to our breakfast menu, counting a new coffee blend and improved hot cakes and omelets; and introduced Broasted ® Chicken Tenders in our restaurant locations where the Broasted Chicken platform has been rolled out (55% of system). All of these actions are designed to drive raised transactions and sales gains by elevating our food quality and guest experience.