Citigroup Inc. (NYSE:C) [Trend Analysis] said a U.S. judge is letting it process two bond payments in Argentina, giving it time to exit a custody business there that got stuck in the government’s legal battle with hedge funds. Citigroup’s Argentine branch can fulfill its duty to process interest payments March 31 and June 30 on bonds issued under local law in U.S. dollars, the bank said Sunday. A judge in Manhattan signed the order March 20, allowing the payments “to the extent certain conditions are satisfied,” the bank said. The filing couldn’t immediately be confirmed in court records. The ruling helps Citigroup extricate itself from a dispute over the country’s bond payments that was threatening to cripple one of the bank’s oldest overseas units. In 2012, the U.S. court barred Argentina from paying restructured bondholders unless it pays a group led by Paul Singer’s NML Capital that claims $1.7 billion in defaulted debt. Citigroup said last week it’s quitting the custody business in Argentina after the nation threatened to revoke the bank’s license if it didn’t handle the payments. Citigroup Inc. (NYSE:C) stock closed at $52.98 in last session with the total traded volume of 22.46 Million. As taking short look on the firm profit margin was recorded 10.90% and operating margin was recorded 33.20%. The Financial Institutional ownership of the firm was 73.80% while by insiders was 0.00%.
Southwestern Energy Co. (NYSE:SWN) [Trend Analysis] announced that it has executed a definitive agreement with a private buyer to sell Southwestern Energy’s conventional oil and gas assets located in East Texas and the Arkoma Basin for approximately $218 million. The proceeds from the transaction will be used to reduce debt. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2015. “Combined with the already announced divestiture of our northeast Pennsylvania gathering system, this transaction achieves the net divestiture proceeds targeted as part of the acquisition financing plan,” remarked Steve Mueller, Chairman and Chief Executive Officer of Southwestern Energy. “With the acquisition financing now complete, we will continue our focus on extracting the long-term value from our premier assets for our shareholders for years to come.” Southwestern Energy Co. (NYSE:SWN) moved up 1.48% to settled at $22.60 with the total traded volume of 13.84 Million shares. The company’s shares performance for the last one month was -17.88% and 1.12% in the previous week, whereas year to date performance was calculated -17.19%.
CJ Energy Services, Inc. (NYSE:CJES) [Trend Analysis] announced that at a special stockholder meeting held, March 20, 2015, CJ stockholders approved, among other matters, the proposed merger contemplated by the Agreement and Plan of Merger, dated as of June 25, 2014, by and among CJ, Nabors Industries Ltd. Nabors Red Lion Limited, Nabors CJ Merger Co. and CJ Holding Co. If the merger of CJ with Nabors’ completion and production services business is completed, Nabors CJ Merger Co., a direct wholly-owned subsidiary of Red Lion, will merge with and into CJ, with CJ surviving as a wholly-owned subsidiary of Red Lion. In connection with the closing of the Merger, Red Lion will change its name to “CJ Energy Services Ltd.” and will be listed on the New York Stock Exchange under the ticker “CJES”. CJ Energy Services, Inc. (NYSE:CJES) shown itself as moving stock, soared 2.12% to close at $11.08. Its total outstanding shares are 55.21 million shares and a floated share was 51.47 million with the market capitalization of 597.83 Million. Its beta value stands at 1.34 times and price to earnings ratio was 9.08.
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