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Civitas Resources Agrees To Buyback $300 Mln Of Its Common Stock From CPPIB
(RTTNews) - Civitas Resources, Inc. (CIVI) reported on Tuesday that it has agreed to repurchase approximately 4.9 million shares of its common stock, par value $0.01 per share at a price of $61.00 per share, resulting in aggregate consideration of approximately $300 million from its largest shareholder, Canada Pension Plan Investment Board or CPPIB.
Following the Repurchase, CPPIB will remain the Company's largest shareholder and will own approximately 21% of the Common Stock.
As of December 31, 2022 and prior to the Repurchase, Civitas had approximately 85.1 million shares of Common Stock outstanding. Following the Repurchase, Civitas will have approximately 80.2 million shares of Common Stock outstanding.
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Swiss Market Shrugs Off Early Weakness, Settles On Firm Note
After struggling for direction till more than an hour past noon on Friday, the Switzerland market gradually moved higher as stocks found some support amid slight hopes about an interest rate cut by the Federal Reserve next month after a central bank official said he sees "room for a further adjustment" to rates in the near term.
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Před 6 h 26 min
European Stocks Close Lower On Weak Economic Data, Valuations Concerns
European stocks closed lower on Friday amid renewed concerns about lofty tech valuations and a batch of weak regional economic data.
Comments from a senior Fed official reviving hopes for monetary easing helped limit the downside in some of the markets in the region.
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Před 6 h 45 min
Canadian Market Rises After Cautious Start; Consumer Discretionary Stocks Move Up
After a slightly positive start and a subsequent mild retreat, the Canadian market moved higher Friday morning, lifted by gains in consumer discretionary, healthcare, real estate and communications sectors.
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Před 7 h 54 min
U.S. Wholesale Inventories Unexpectedly Flat In August
With an uptick in inventories of durable goods offset by a dip in inventories of non-durable goods, the Commerce Department released a report showing U.S. wholesale inventories came in roughly flat in the month of August. The report said wholesale inventories were virtually unchanged in August after inching up by 0.1 percent in July.
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Před 9 h 10 min
U.S. Consumer Sentiment Deteriorates Slightly Less Than Previously Estimated In November
Partly reflecting the end of the U.S. government shutdown, the University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly less than previously estimated in the month of November. The University of Michigan said its consumer sentiment index for November was upwardly revised to 51.0 from the preliminary reading of 50.3.
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Před 9 h 22 min
Bay Street May Open With Negative Bias
The Canadian market may open with a negative bias Friday morning, tracking weak global stocks and lower oil and silver prices.
Slightly fading hopes about an interest rate cut by the Federal Reserve next month, and renewed concerns about valuations of AI-related stocks are likely to weigh on stocks.
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Před 10 h 58 min
UK Private Sector Growth Softens
The UK private sector activity reported a softer expansion in November, largely due to a loss of momentum in the service sector, flash survey results from S&P Global revealed on Friday. The composite output index fell more-than-expected to 50.5 in November from 52.2 in October. The expected level was 51.8.
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Před 11 h 43 min
Eurozone Private Sector Continues To Expand
Eurozone private sector logged a robust growth in the penultimate month of the year as services activity grew the most in a year-and-a-half, survey results published by S&P Global showed on Friday. The flash HCOB composite output index dropped marginally to 52.4 in November from 52.5 in October. The score was forecast to remain stable at 52.5.
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Před 12 h 8 min
