On Wednesday, Shares of Basic Energy Services, Inc (NYSE:BAS), subtract -7.21% and closed at $0.724 in the last trading session. The last trading range of the stock ranges between $0.69 and $0.86. The company’s Market capitalization is $29.13 million with the total Outstanding Shares of 42.76 Million. Basic Energy Services, Inc. (BAS) (“Basic” or the “Company”) and certain auxiliaries recently declared that the Company, its secured term loan lenders and secured asset-based revolver lenders (collectively, the “Secured Lenders”), and certain of its unsecured bondholders have taken steps to facilitate the continuation of negotiations regarding a deleveraging transaction.
On September 14, 2016, the Company reached a forbearance agreement with over 81% of the holders of the 7.75% senior notes due 2019 (the “2019 Notes”) with respect to the formerly declared 30-day grace period related to an $18.4 million payment of interest under the 2019 Notes. Under the forbearance agreement, the unsecured noteholders agreed to forbear from exercising their rights and remedies, counting the right to accelerate any indebtedness, through September 28, 2016 in connection with the interest payment default (the “Forbearance Period”). In Addition To, the Company’s Secured Lenders agreed to provide temporary waivers of certain existing and future defaults under the Term Loan and ABL Facility related, in part, to the missed interest payment.
During the Forbearance Period, the Company and its creditors have continued to make progress in their negotiations regarding a deleveraging transaction. To provide the Company with additional time to continue and conclude these negotiations, the Company has reached a contract with over 81% of the holders of the 2019 Notes to extend the Forbearance Period through October 16, 2016 (the “Extension Period”). The Company’s Secured Lenders have also agreed to provide extensions of their respective temporary waivers through the Extension Period.
Texas Instruments Incorporated (NASDAQ:TXN), jumped 1.45% and closed at $70.60 in the last trading session. The last trading range of the stock ranges between $69.01 and $70.84. The company’s Market capitalization is $70.76 Billion with the total Outstanding Shares of 1.00 billion. Texas Instruments Incorporated (TI) (TXN) will webcast its third-quarter 2016 earnings conference call on Wednesday, October 26, at 4:30 p.m. Central time. Kevin March, senior vice president and chief financial officer, and Dave Pahl, vice president and head of Shareholder Relations, will discuss TI’s financial results and answer questions from the shareholder audience.
Hanesbrands Inc. (NYSE:HBI), jumped 0.04% and closed at $25.51 in the last trading session. The last trading range of the stock ranges between $25.48 and $25.89. During the 52-week trading session the minimum price at which share price traded, registered at $23.25 and reached to max level of $33.24. Micaela Erlanger, one of the fashion industry’s most influential celebrity stylists, will be an ambassador and spokesperson for the Maidenform brand this fall. Erlanger will act as a guide to the Maidenform customer, offering expert tips, product picks and styling insight via the leading intimate-apparel brand’s website and social media platforms.
“I am thrilled to declare my brand ambassadorship with Maidenform,” said Erlanger. “As a stylist, and as a woman, I know the importance of undergarments and shapewear. I am a firm believer in the quality and style of the Maidenform brand’s products and couldn’t think of a more perfect brand to align with and represent.”
Vicki Seawright, Maidenform vice president and general manager, said: “We are thrilled to have Micaela onboard as a Maidenform spokesperson for the forthcoming fall and holiday seasons. The Maidenform vision perfectly aligns with Micaela’s captivating spirit and commitment to fashion. We are constantly working to enrich the shopping experience, and look forward to leveraging Micaela’s expertise to inspire and educate our customer.”