Sectors
Swiss Drilling Company Transocean Posts Profit Despite Poor Oil Price
Transocean's fourth quarter earnings exceeded the analysts' earnings estimate amid the ongoing fall in the oil market. The company managed to post a quarterly profit of $617 million by reducing its operating costs.
Vivint Solar Shareholders Approved SunEdison Acquisition, Shares Fall After The Announcement
SunEdison Inc. acquired Vivint Solar after Vivint’s shareholders overwhelmingly approved the deal of about $1.9 billion. SunEdison, once the world’s largest renewable energy company, is now facing a financial crisis with billions of debt after massive acquisition binge and plummeting stocks.
Louisiana Public Service Commission Rejected Macquarie's Move to Acquire Public Utility Cleco Power LLC
State regulator rejected a $4.85 billion dollar acquisition of utility power company Cleco to Macquarie Group on Wednesday. The regulator said that the acquisition did not serve the best interest of the customers.
Chesapeake Energy posts Q4 loss on heavy write-down
Oklahoma-based Chesapeake Energy has posted losses over $14 billion for 2015 and a net loss of $2.23 billion or $3.36 a share for the fourth quarter. The major reason for deep loss was writing down value of oil and gas fields in the wake of prolonged lower oil prices. However, the loss was better than the market forecast.