Tejon Ranch Launches $75 Mln Rights Offering

Tejon Ranch Launches $75 Mln Rights Offering

Tejon Ranch Co (TRC), a real estate developer and agribusiness company, said Wednesday that it has commenced its previously announced rights offering to raise up to $75 million of gross proceeds, with the distribution of one transferable subscription right for each share of the company’s common stock to investors of record on Oct. 4. Each subscription right entitles the holder to purchase 0.20 shares of the company’s common stock at […]

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Suburban Propane Partners’ Price Target Nudged Up to $25 by Janney

Suburban Propane Partners’ Price Target Nudged Up to $25 by Janney

Suburban Propane Partners (SPH) received a slight increase to its price target Wednesday afternoon from Janney Montgomery Scott as the firm updated its financial models to reflect expectations for lower margins and higher volumes through 2019. The new price target is $25 per share, up from $24. However, the raised target is still below the stock’s Wednesday closing price of $26.20. Janney kept its investment rating on the stock at […]

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Asian Stock Markets Mixed, Muted, Closed On Holiday

Asian Stock Markets Mixed, Muted, Closed On Holiday

Asian stock markets were muted Thursday, with Tokyo trading flat, and Hong Kong, Shanghai and Seoul closed on holiday. With regional markets near record highs, traders are in a holding mode and awaiting the U.S. Friday jobs report or other cues, said analysts. In Tokyo, the Nikkei 225 traded flat, closing up 0.01%, as traders took profits from a market near two-year highs, and took to sidelines ahead of the […]

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US Energy Strikes Deal With Lender APEG Energy II

US Energy Strikes Deal With Lender APEG Energy II

U.S. Energy (USEG), an oil & gas company, said Thursday it has reached an agreement with APEG Energy II, the sole lender of its senior secured credit facility, to exchange nearly $4.5 million in borrowings for over 5.8 million new shares. Trading in U.S. Energy shares was halted at 4:55 pm EST Wednesday. The stock trades in a 52-week range between $0.60 and $2.74. The exchange price of $0.77 represents […]

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