Kodiak Oil & Gas said today it has upsized and priced a previously announced public offering of common stock as well as a private offering of senior notes.
The stock offering has been increased from 37.5 million shares to 42 million shares, at $7.75 per share.
The private placement of senior notes due 2019 has been increase from $550 million to $650 million in aggregate principal amount.
Kodiak plans to use the net proceeds to finance its previously announced acquisition of interests in 50,000 net acres of oil and gas properties and related assets in the Williston Basin of North Dakota, to repay all outstanding debt under its second lien credit agreement, to fund capital expenditures... Read More
Haynes International Incorporated announced its quarterly dividend of 22 cents per share, an increase of about 10% over its prior dividend in August of 20 cents. The dividend is payable December 15, 2011 to stockholders of record at the close of business on December 1, 2011. The company also announced net revenues of $154.3 million and net income of $11.3 million, or $0.92 per diluted share, for the three months ended September 30, 2011, compared to net revenues of $104.6 million and net income of $5.5 million, or $0.45 per diluted share, for the same period of fiscal 2010.
Shares are higher by over two percent.
In other dividend news, Pepsico IncorporatedRead More
Marten Transport was upgraded today by Stifel Nicolaus from hold to buy with a $21 price target. The analyst issuing the upgrade cited that recent decline in the stock price have made shares a bargain, and he expects Marten to grow earnings per share by about 15 percent this year compared to last year.
The S&P 500, the Dow Jones Industrial Average, and the Nasdaq are all lower for the week.
Crude oil futures are lower this week, trading around $97.45 per barrel on Friday afternoon.
Gold futures are lower for the week in afternoon trading, to around $1723.79 an ounce.
In notable economic news this week, the economy added 80,000 jobs in the month of October, and unemployment was 9 percent, according to the Labor Department. The weekly jobless claims reports for the past three weeks fell by 5,000 to 388,000.
In corporate news this week, Merck
PetSmart reported third quarter earnings after the close of trading late yesterday. Profits rose to $56.2 million, or $0.60 per share, from $45.6 million, or $0.38 per share, in last years third quarter. Revenue rose 8% to $1.5 billion, on a 6.1% increase in same-store sales. Results were slightly ahead of analyst estimates. PetSmart raised its full-year forecast to earnings of $2.50 to $2.54 per share, compared to a prior forecast of $2.46 to $2.52 per share. Analyst estimates fall within the new forecast, although the companys fourth quarter forecast for earnings of $0.85 to $0.89 per share is largely below expectations.
GameStop reported third quarter earnings today that slid to $53.9 million, or $0.39 per share, from $54.7 million, or $0.36 per share, last year.
Earnings at the video game retailer met analyst expectations, although revenue fell slightly short, rising 2.5% to $1.95 billion. Same-store sales fell by 0.6%.
New video game software sales rose 4.8%, driven by Microsoft's Gears of War 3 and Battlefield 3 and Madden NFL 12 from Electronic Arts , among others.
Also today, Activision Blizzard
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