On Monday, Shares of Morgan Stanley (NYSE:MS), gained 1.55% to $33.48.
Morgan Stanley, declared that it has accomplished the sale of the Global Oil Merchanting unit of its Commodities division to Castleton Commodities International LLC. Financial terms of the transaction were not revealed.
The sale comprises a diversified international network of oil terminal storage agreements; inventory; physical oil purchase, sale and supply agreements; and freight shipping contracts. The transaction – which does not comprise Morgan Stanley’s client-facilitation oil trading and risk administration business or any of its commodities operations outside of the oil sector – leaves the Firm with a leaner and more client-focused commodities business.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The company’s Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, in addition to provides capital raising and corporate lending services.
Shares of Metlife Inc (NYSE:MET), inclined 1.39% to $51.08, during its last trading session.
The premature death of one’s spouse or partner brings even greater financial consequences than it did several years ago, according to findings released from MetLife’s 2015 Study of the Financial Impact of Premature Death. Formerly conducted in 2009, the study found that fewer surviving spouses or partners report being very financially secure, and about one in three (32 percent) report being not at all financially secure a year after their partners’ deaths. The study looked at impacts to the surviving spouses or partners of individuals who died preceding to age 63 over the past seven years, which is further illustrated in this info graphic.
Many who thought themselves relatively well-insured found their insurance coverage insufficient in recently’s economic climate—only two-thirds (68 percent) of those with life insurance benefits representing three times the annual incomes of their late spouses or partners found the proceeds very assistful, down from 81 percent in 2009. Surviving families’ financial vulnerabilities extend beyond the immediate aftermath, as well. Surviving spouses’ incomes one year after their partners’ deaths are lower than in 2009, and they are more likely to report a marked impact on overall financial security and lifestyle (e.g., having to move, reducing spending or borrowing money). In total, only about half (49 percent) of families say they have completely or somewhat recovered financially from a death that occurred as many as seven years ago.
“We tend to avoid talking about our own mortality, but openly discussing how we will financially protect our loved ones has only grown in importance,” says Stephen Pontecorvo, senior vice president, MetLife Group Life Products. “The solution is preemptive action, starting with a negotiation with your partner and a little planning—not only about life insurance options, but also about documenting end-of-life wishes, especially through a will.”
MetLife, Inc. provides life insurance, annuities, employee benefits, and asset administration products in the United States, Japan, Latin America, Asia, Europe, and the Middle East.
Finally, Shares of Marathon Petroleum Corp (NYSE:MPC), ended its last trade with 2.16% gain, and closed at $52.92.
MPLX LP (MPLX), stated third-quarter 2015 net income attributable to MPLX of $41.5 million, or $0.41 per common limited partner unit, contrast with $29.1 million, or $0.37 per common limited partner unit, for the third quarter of 2014. Third-quarter 2015 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) attributable to MPLX were $64.6 million and distributable cash flow attributable to MPLX was $52.5 million.
As declared on Oct. 20, the board of directors of MPLX`s general partner declared a distribution of $0.47 per common unit. This represents an improvement of $0.03 per unit, or 6.8 percent, over the second-quarter 2015 distribution and an improvement of $0.1125 per unit, or 31.5 percent, over the third-quarter 2014 distribution. Since the partnership`s initial public offering in October 2012, the MPLX board has authorized distribution improvements for 11 successive quarters, representing a compound annual growth rate of 23.6 percent over the minimum quarterly distribution established at the partnership`s formation.
We also look forward to finalizing the combination with MarkWest Energy Partners, L.P., which we expect to complete later this year, Heminger added, noting that the transaction will combine MarkWest`s (MWE) robust organic growth opportunities with the large and growing $1.6 billion inventory of master limited partnership (MLP) qualifying EBITDA owned by MPLX`s sponsor, Marathon Petroleum Corporation (MPC).
Marathon Petroleum Corporation, together with its auxiliaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Pipeline Transportation.
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