Hot Movements: Rite Aid Corporation (NYSE:RAD), Norfolk Southern Corp. (NYSE:NSC), Vanguard Natural Resources (NASDAQ:VNR)

October 11, 2020 Travis Garlick NYSE Stocks Comments Off

On Monday, Shares of Rite Aid Corporation (NYSE:RAD), lost -0.06% to $7.70.

Rite Aid stores nationwide are celebrating the busiest shopping weekend of the year by giving customers the opportunity to earn Plenti points on a variety of holiday essentials, starting as early as 8 a.m. Thanksgiving Day and 7 a.m. Black Friday in select locations. From holiday décor to gifts, electronics, and seasonal treats counting M&M’s and gourmet butter cookies at can’t miss prices, Rite Aid’s nearly 4,600 locations make it convenient for shoppers to get everything on the list.

“This is Rite Aid’s first holiday season with wellness+ with Plenti program, and we’re excited to present our customers with the opportunity to earn points on several holiday and everyday items,” said Tony Montini, Rite Aid executive vice president of merchandising and supply chain. “Our affordable offerings and convenient locations make Rite Aid the solution this shopping season for customers as they earn Plenti points, which can be used later in the season, throughout the New Year and beyond, at Rite Aid or other participating Plenti retailers.”

Rite Aid Corporation, through its auxiliaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, counting over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.

Shares of Norfolk Southern Corp. (NYSE:NSC), declined -2.01% to $95.60, during its last trading session.

Norfolk Southern Corporation, confirmed that it has received an unsolicited, low-premium, non-binding and highly conditional indication of interest from Canadian Pacific (CP.TO) to acquire the Company for $46.72 in cash and a fixed exchange ratio of 0.348 Canadian Pacific shares per Norfolk Southern share, representing a premium of less than 10% based on closing prices recently.

The Companys board of directors, in consultation with its financial and legal advisors, will carefully evaluate and consider this indication of interest in the context of Norfolk Southerns planned plans, and its ongoing review of opportunities to enhance stockholder value through planned, financial and operational measures and pursue the best interests of the Company and its stockholders. Notably, any consolidation among Class I railroads in North America would face noteworthy regulatory hurdles. Norfolk Southerns board of directors and administration team are committed to enhancing value for all stockholders. The Companys stockholders do not need to take any action at this time.

Norfolk Southern Corporation, together with its auxiliaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. As of December 31, 2014, it operated about 20,000 miles of road in 22 states and the District of Columbia. The company also operates planned passenger trains; transports overseas freight through various Atlantic and Gulf Coast ports; and provides logistics services.

Finally, Shares of Vanguard Natural Resources (NASDAQ:VNR), remained flat at $5.47.

Vanguard Natural Resources, has declared a cash distribution attributable to the month of October 2015 of $0.1175 per unit ($1.41 on an annual basis) payable on December 15, 2015 to unit holders of record on December 1, 2015. Vanguard has also declared cash distributions for its 7.875% Series A Cumulative Redeemable Perpetual Preferred Units (VNRAP) of $0.1641 per unit, its 7.625% Series B Cumulative Redeemable Perpetual Preferred Units (VNRBP) of $0.15885 per unit, and its 7.75% Series C Cumulative Redeemable Perpetual Preferred Units (VNRCP) of $0.16146 per unit, all payable on December 15, 2015 to unit holders of record on December 1, 2015.

Vanguard Natural Resources, LLC, through its auxiliaries, acquires and develops oil and natural gas properties in the United States. It owns properties, and oil and natural gas reserves primarily located in nine operating basins, counting the Arkoma Basin in Arkansas and Oklahoma; the Permian Basin in West Texas and New Mexico; the Big Horn Basin in Wyoming and Montana; the Piceance Basin in Colorado; the Gulf Coast Basin in Texas, Louisiana, and Mississippi; the Wind River Basin in Wyoming; the Williston Basin in North Dakota and Montana; the Green River Basin in Wyoming; and the Powder River Basin in Wyoming.

You may also like