Share of Altera Corporation (NASDAQ:ALTR) jumped 0.05% and is at $53.96 in the Real-Time trading session. The company opened at $53.94 on Thursday, and is moving between $53.94 53.96, through the day.
S&P MidCap 400 constituent Church & Dwight Co. (CHD) will replace Altera Corp. (ALTR) in the S&P 500, S&P SmallCap 600 constituent SYNNEX Corp. (SNX) will replace Church & Dwight in the S&P MidCap 400, and The Greenbrier Companies Inc. (GBX) will replace SYNNEX in the S&P SmallCap 600 after the close of trading on Monday, December 28. S&P 100 & 500 constituent Intel Corp. (INTC) is acquiring Altera in a cash deal predictable to be accomplished on or about that date pending final conditions.
Church & Dwight develops, manufactures, and markets household, personal care, and specialty products. Headquartered in Ewing, NJ, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Household Products Sub-Industry index.
SYNNEX provides business process services to resellers, retailers, and original equipment manufacturers. Headquartered in Fremont, CA, the company will be added to the S&P MidCap 400 GICS Technology Distributors Sub-Industry index.
Stone Energy Corporation (NYSE:SGY) declined -0.50% right now and is at $3.94. The 52-week range of the share price is from $3.06 19.65. The company has total market capitalization of $225.24M.
Stone Energy Corporation offered an update on its 2016 capital expenditure budget, drilling and production operations and updated fourth quarter and annual 2015 production guidance.
2016 Capital Expenditure Budget
Stones Board of Directors has authorized an initial 2016 capital expenditure budget of $200 million, subject to further Board review. The projected expenditures are primarily focused on the Pompano platform rig development program and the utilization of the ENSCO 8503 deep water rig for a development well and one to two exploration wells. The budget comprises minimal activity in the Appalachian basin, satisfying regulatory abandonment commitments and contractual seismic and leasehold commitments. The budget also assumes some success in farming-out the ENSCO 8503 rig to another operator or using the rig on a farm-in opportunity with a low working interest ownership. The budget excludes acquisitions and capitalized SG&A and interest in addition to potential subsidy expense associated with a rig farmout. The budget is allocated about 80%-85% to the Gulf of Mexico basin, 3%-5% in Appalachia, and 10%-15% to abandonment expenditures. The estimated capital expenditure for 2015 is projected to be about $460-$470 million.
In the Gulf of Mexico, the budget calls for three development wells to be drilled using a platform rig, which has been installed onto the Pompano platform. Additionally, Stone anticipates to use the ENSCO 8503 rig to drill and complete the Cardona #7 development well in the first quarter of 2016, followed by a potential farm-out of the rig or the drilling of the Lamprey prospect or the Derbio prospect. The Appalachia capital budget comprises maintaining core lease-hold interests and other maintenance operations. Late in the fourth quarter of 2015, Stone received a dual-purpose Utica/Marcellus rig that is capable of drilling in either shale formation, however the rig will be stacked until conditions improve.
Shares of SolarCity Corp (NASDAQ:SCTY), gained 1.36%, and is now trading at $52.21. Its overall volume is 572,559 shares right now, and average trading volume of 4,439,240.
Solar City, declared that as a result of the decision by the Nevada Public Utilities Commission to severely undermine Nevadans ability to go solar, the company is ceasing solar sales and installation in the state effective right away.
This is a very difficult decision but Governor Sandoval and his PUC leave us no choice. The people of Nevada have consistently chosen solar, but yesterday their state government decided to end customer choice, damage the states economy, and jeopardize thousands of jobs, said SolarCity CEO Lyndon Rive. The PUC has protected NV Energys monopoly, and everyone else will lose. We have no alternative but to cease Nevada sales and installations, but we will fight this flawed decision on behalf of our Nevada customers and employees.
Governor Sandovals Office of Economic Development assisted bring SolarCity to Nevada in 2013, and encouraged the company to create local jobs. Accepting the Governors invitation, the company expanded to Nevada and has hired more than 2,000 local workers in just over two years. The state also created a rebate program to entice Nevadans to go solar, and many chose to do so. The rooftop solar industry assisted Nevada become number one in the nation in solar jobs per capita in 2014. With abundant sunshine and a populace eager to adopt solar energy and save on electricity bills, the industry was poised to become a cornerstone of the states innovation economy.
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