Repurchase Program
ConocoPhillips Announces Share Repurchase Program
ConocoPhillips announced a stock repurchase program to repurchase up to $1 billion of the company's common stock over a period of up to two years. This plan is in addition to the existing $1 billion program announced on February 4, 2005, under which the company has repurchased approximately $950 million of its common stock. Consistent with previous guidance, the company will use the new program as a means of offsetting dilution to existing shareholders from the company's stock-based compensation programs. Acquisitions for the share repurchase program will be made at management's discretion at prevailing prices as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. Purchases may be increased, decreased or discontinued at any time without prior notice. Shares of stock repurchased under the plan will be held as treasury shares.
Northrop Grumman Buys 9 Million Shares in Accelerated Share Repurchase
Northrop Grumman Corporation has entered into a $500 million accelerated share repurchase (ASR) agreement with Credit Suisse First Boston (CSFB). Under the agreement, the company repurchased 9,066,183 shares of Northrop Grumman common stock from CSFB at a price per share of $55.15. CSFB plans to purchase an equivalent number of shares in the open market, and Northrop Grumman may receive or be required to remit a price adjustment based upon the volume weighted average price of Northrop
Stolt-Nielsen Purchases 200,000 of Common Shares
Stolt-Nielsen announced that Stolt-Nielsen Transportation Group (SNTG), a 100% owned subsidiary of SNSA, purchased today 200,000 of SNSA Common Shares on the Oslo Stock Exchange at an average price of NOK 219.16 per share (approximately $32.76 at the current exchange rate). The shares were purchased in accordance with the repurchase program announced on August 25, 2005, authorizing Company to purchase up to $200 million worth of its Common Shares or related American Depositary Shares.
SEACOR Announces Increase in Securities Repurchase Authority
SEACOR Holdings Inc. announced that its Board of Directors has increased its authorization for repurchases pursuant to its previously announced securities repurchase program. With this increase, SEACOR has approximately $50 million available for such purchases. The securities covered by the repurchase program include SEACOR's common stock, its 7.2% senior notes due 2009, its 5 7/8% senior notes due 2012, its 2.875% convertible senior debentures due 2024
Danaos Corp Share Repurchase Program
Corporation (NYSE: DAC) announced that its Board of Directors has approved a share repurchase program and authorized the officers of the company to repurchase, from time to time, up to 1,000,000 shares of the company's common stock (par value $0.01). Danaos Corporation is an international owner of containerships. It currently has a fleet of 39 containerships, aggregating 156,275 TEUs. (www.danaos.com)
Conrad Q2 2010 Results & Share Repurchase Program
Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) announced today its second quarter and six months 2010 results and a new $5.0 million stock repurchase program. For the quarter ended June 30, 2010, Conrad achieved net income of $3.6 million and earnings per diluted share of $0.56 compared to net income of $1.6 million and earnings per diluted share of $0.26 during the second quarter of 2009. The company had net income of $5.4 million and earnings per diluted share of $0
A&B Stock Repurchase Authorized
Alexander & Baldwin, Inc. announced that its board of directors renewed an outstanding authorization for repurchase of its common shares. The new authorization, for up to 2 million shares through December 31, 2004, replaces an existing authorization that will expire on December 31, 2002.
NNS Announces $100M Share Buyback
Military ship and submarine builder Newport News Shipbuilding Inc. approved a $100 million share buyback program. The amount of the buyback is equivalent to nearly 6 percent of its shares outstanding based on current market prices. The buyback comes on top of previous share repurchases that have totaled 5.6 million shares since mid-1999.
Star Bulk Approves Finance Moves
Star Bulk Carriers Corp. (NASDAQ:SBLK) announced that its board of directors has approved a plan for the repurchase of up to an aggregate of $50 million of its Common Stock and Warrants which may be repurchased by the Company from time to time until December 31, 2008. The plan calls for the repurchases of both Common Stock and Warrants to be made in open market or privately negotiated transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended
Navios 3Q, 9 Mo. Report
Navios Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the third quarter and nine months ended September 30, 2008. "We believe that Navios' flexible business model and conservative strategy will benefit us during this difficult period in the drybulk market," stated Angeliki Frangou Chairman and CEO of Navios Holdings
Northrop Grumman: Strong 4Q and 2011 Financials
Highlights include: Q4 EPS from Continuing Operations Increase to $2.09; 2011 EPS from Continuing Operations Increase to $7.41; Free Cash Flow before Discretionary Pension Contributions Totals $1.4 Billion for Q4 and $2.5 Billion for 2011; 11
Paragon Shipping Raises Working Capital
Paragon Shipping Inc. raises US$ 10-million working capital in sale of newly-issued shares to an entity affiliated to its own chairman. The Paragon Board agreed to sell 4,901,961 newly-issued shares of the Company's common stock to an entity affiliated with Mr
Chance to Buy Carnival Shares at UK Bourse
Carnival Corporation to sell existing shares over time in the London stock market. Carnival Corporation and Carnival Investments Limited, a wholly owned subsidiary of Carnival Corporation, intend to sell existing Carnival plc ordinary shares that they hold in the UK market.
Intelsat Announces Proposed Offering of Senior Notes
Intelsat S.A. announced that its subsidiary, Intelsat (Luxembourg) S.A. intends to offer $1,500,000,000 aggregate principal amount of senior notes due 2021. Intelsat Luxembourg's obligations under the notes will be guaranteed by Intelsat S.A
Trailer Bridge Expands Dominican Service
Trailer Bridge, Inc. (NASDAQ Global Market: TRBR) announced that it is expanding its Dominican Republic sailings from every two weeks to weekly. The company will provide this service utilizing its existing vessels that currently link the ports of Jacksonville, Fla
Northrop Grumman Q4 2009 Results
Northrop Grumman Corporation (NYSE: NOC) reported Q4 2009 net earnings of $413 million, or $1.31 per diluted share, and 2009 net earnings of $1.7 billion, or $5.21 per diluted share. In 2008, the company reported a fourth quarter net loss of $2.5 billion, or $7
Hapag-Lloyd Orders Four 13,200-TEU Ships
Following a record result in the first nine months of 2010 and its successful refinancing on the capital market, Hapag-Lloyd is again investing in future growth. Hapag-Lloyd ordered four large vessels with a capacity for 13,200 standard containers (TEU) each from the Korean shipbuilding company
General Maritime to Sell, Leaseback Product Tankers
General Maritime Corporation (NYSE: GMR) announced that it has entered into memoranda of agreement to sell three product tankers, the 2004-built Genmar Concord, the 2005-built Stena Concept and the 2005-built Stena Contest, to affiliates of Northern Shipping Fund Management Bermuda, Ltd
General Dynamics Share Repurchase
According to a Feb. 4 report from The Day the board of directors of General Dynamics has authorized its management to repurchase up to 10 million shares of the company's issued and outstanding common stock on the open market. (Source: The
General Maritime Sells Aframax & Suezmax Tankers
General Maritime Corporation (NYSE: GMR) announced that it has completed the sale of the Genmar Princess, a 1991-built Aframax tanker, to an unaffiliated third party, generating net proceeds of $7.5m. The Company also announced it has entered into an agreement to sell the Genmar Gulf
Teekay Corporation Reports Q1 Results
Highlights * First quarter 2011 cash flow from vessel operations of $136.4 million. * First quarter 2011 adjusted net loss attributable to stockholders of Teekay of $27.9 million, or $0.39 per share (excluding specific items which decreased GAAP net income by $1.8 million, or $0.02 per share)
Fitch Affirms SEACOR Holdings' IDR at 'BBB-'; Outlook Stable
Fitch Ratings has affirmed SEACOR Holdings' () Issuer Default Rating (IDR) and debt ratings as follows: --IDR at 'BBB-'; --Senior unsecured credit facility at 'BBB-'; --Senior unsecured notes at 'BBB-'. The Rating Outlook is Stable. Approximately $700 million in total debt is outstanding at
Rowan Authorized to Repurchase Common Stock
Rowan Companies, Inc's board of directors has authorized the company to repurchase up to $100 million in shares of its common stock. Repurchases under this program, effective immediately, will be made through the open market or in privately negotiated transactions
TEN Execs Authorize Common Share Repurchase Program
Tsakos Energy Navigation Limited (TEN) announced that its Board of Directors has authorized a new share repurchase program on the company’s common shares allocating up to $20 million for purchases in the open market and in other transactions
Star Bulk Extends Share Repurchase Plan
Star Bulk Carriers Corp. (Nasdaq: SBLK), said that its Board of Directors approved the extension of the Company’s Share Repurchase Plan, which has been in place since 2010, to December 31, 2012. The plan calls for the repurchases of Common Stock for up to $30 million to be made in