On Wednesday, Shares of Apple Inc. (NASDAQ:AAPL), lost -0.47% to $122.
On Wednesday, the firm opened at $123.07, and closed at $122, slightly lower than the opening price. The intraday range for the firm’s stocks was recorded at $121.62 $123.82. The average volume traded for the day was 44,886,050 shares, against 59,255,500 shares.
A New Hampshire technology company has reached a deal with Apple to resolve more than $400 million in debt it accumulated attempting to become an iPhone supplier, The Wall Street Journal stated.
GT Advanced Technologies plans to auction equipment it hoped to use to make sapphire for Apple phone screens, and the companies will split the proceeds, the report said, citing court documents filed this week. Apple will drop its $439 million loan to GT and take control of any sapphire-making furnaces that do not sell.
GTs relationship with Apple — originally declared in late 2013 — boosted hopes for GT, a maker of optical, laser and solar equipment. The company filed for Chapter 11 bankruptcy protection in October 2014. CNBC Reports
The supplier relationship never came to fruition — GT has alleged Apple changed specifications, while Apple claimed the company did not meet performance standards, according to the Journal.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players to consumers, small and mid-sized businesses, education, and enterprise and government customers in the Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications. It offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers. The company also provides iLife, a consumer-oriented digital lifestyle software application suite; iWork, an integrated productivity suite that assists users create, present, and publish documents, presentations, and spreadsheets; and other application software, such as Final Cut Pro, Logic Pro X, and FileMaker Pro. In addition, it offers Apple TV that connects to consumers TV and enables them to access digital content directly for streaming high definition video, playing music and games, and viewing photos; Apple Watch, a personal electronic device; and iPod, a line of portable digital music and media players. Further, the company sells Apple-branded and third-party Mac-compatible, and iOS-compatible accessories, such as headphones, displays, storage devices, Beats products, and other connectivity and computing products and supplies. Additionally, it offers iCloud, a cloud service; AppleCare that offers support options for its customers; and Apple Pay, a mobile payment service. The company sells and delivers digital content and applications through the iTunes Store, App Store, iBooks Store, Mac App Store, and Apple Music; and sells its products through its retail and online stores, and direct sales force, in addition to through third-party cellular network carriers, wholesalers, retailers, and value-added resellers. Apple Inc. was founded in 1977 and is headquartered in Cupertino, California.
Shares of The Walt Disney Company (NYSE:DIS), declined -1.98% to $113.25, during its last trading session.
The only known existing scrapbook of original cartoons drawn by a teenaged Walt Disney and the earliest autographed photo of the future entertainment mogul ever offered for public sale will be auctioned at Bonhams in New York City this month, according to Business Journals.
The drawings and signed photograph are two of 10 lots of teenage Disney artifacts, all of which are considered to be the earliest of their type ever publicly sold. They go under the gavel Nov. 23 as part of the Bonhams & Turner Classic Movies Presents Treasures from the Dream Factory auction.
Walt Disney collectibles dealer Phil Sears consigned the items to the auction. Business Journals Reports
This is the earliest collection of original Walt Disney cartoon drawings not locked away in a museum or the Disney Company archives, said Sears. In terms of Walt Disneys life story, these are the cave paintings of his creative timeline.
The Walt Disney Company, together with its auxiliaries, operates as an entertainment company worldwide. The company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products, and Interactive. The Media Networks segment operates broadcast and cable television networks, domestic television stations, and radio networks and stations; and is involved in the television production and television distribution operations.
Finally, Shares of SandRidge Energy, Inc. (NYSE:SD), ended its last trade with 0.52% gain, and closed at $0.4021.
SandRidge Energy, declared that it has agreed to acquire the assets of EE3, LLC (EE3) in a privately negotiated transaction for $190 million in cash, pending standard due diligence and post-closing adjustments. The transaction is predictable to close in the fourth quarter of 2015.
With this acquisition, SandRidge will have a material, derisked Niobrara Shale position in the North Park Basin, Jackson County, Colorado. The Niobrara Shale is characterized by numerous stacked pay reservoirs, proven production history, long-lived reserves and repeatable drilling results. The attained acreage is largely concentrated in rural north central Colorado and ideal for pad drilling and efficient infrastructure installation.
- Large, concentrated acreage position in Niobrara Shale play that has similar geologic characteristics to the DJ Basin Niobrara with five stacked benches at depths of 5,500 to 9,000 feet, reservoir thickness over 450 feet, oil in place greater than 55 MMBo per section and overpressured reservoir above 0.55 psi per foot
- More than 10 years of identified drilling inventory in the D Bench of the Niobrara Shale
- Noteworthy upside from additional horizons; Niobrara Shale C Bench with proven production on this acreage
- EUR per well of 311 MBoe generates 32% IRRs at recent strip pricing with well costs targeted below $4 million
- Estimated 27 MMBoe proved reserves (82% oil) at projected year end 2015 SEC prices
- MBoepd of current production from 16 horizontal wells
- Initial one rig development program starting in January 2016, increasing to two rigs in mid-2016; 13 drilling permits already approved
- Development acreage delineated by EOG Resources and EE3; last 6 wells average 30-day IP rate of 577 Boepd
- 3D seismic coverage on 54 square miles
- 100% operated with high working interest and average royalty burden less than 17%
- About 47% of the 136,000 acres held by production and by two Federal units
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services. The Exploration and Production segment explores for, develops, and produces oil and natural gas properties; and operates wells.
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