On Thursday, Shares of Community Health Systems (NYSE:CYH), subtract -4.62% and closed at $10.94 in the last trading session. The last trading range of the stock ranges between $10.81 and $11.50. S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:
S&P SmallCap 600 constituent Cousins Properties Inc. (CUZ) will replace Community Health Systems, Inc. (CYH) in the S&P MidCap 400, Community Health Systems will replace Cousins Properties, and Ollie’s Bargain Outlet Holdings, Inc. (OLLI) will replace Parkway Properties Inc. (PKY) in the S&P SmallCap 600 after the close on Wednesday, October 5. Cousin Properties is acquiring Parkway Properties in a deal expected to be accomplished soon pending final conditions. Cousins Properties will have GICS change to Office REITs following the merger. Community Health Systems is ranked near the bottom of the S&P MidCap 400 and has a market capitalization more representative of the small-cap market space.
Parkway Inc (PKY) will replace VOXX International Corp (VOXX) in the S&P SmallCap 600 after the close on Friday, October 7. Newly added S&P MidCap 400 constituent Cousins Properties Inc. is spinning off Parkway Inc. in a transaction that is expected to be accomplished by Thursday, October 6 pending final conditions. Cousins Properties will remain in the S&P MidCap 400 post spin off. Voxx International is ranked near the bottom of the S&P SmallCap 600 and is no longer representative of the small-cap market space.
Cousins Properties, a real estate investment trust (REIT), owns, develops, and manages real estate portfolio. Headquartered in Atlanta, GA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Office REITs Sub-Industry index.
Weyerhaeuser Co (NYSE:WY), jumped 1.50% and closed at $31.10 in the last trading session. The last trading range of the stock ranges between $30.42 and $31.36. The company’s Market capitalization is $23.36 Billion with the total Outstanding Shares of 748.73 million. Weyerhaeuser Company (WY) recently declared a contract to sell North Pacific Paper Company (“NORPAC”), the company’s printing papers business, to One Rock Capital Partners, LLC (“One Rock”). Weyerhaeuser anticipates to use a substantial portion of the after-tax proceeds from the transaction for the repayment of debt.
The transaction includes the printing papers mill located in Longview, Wash. Weyerhaeuser has operated the business through a joint venture with Nippon Paper Industries Co., Ltd. Terms of the transaction were not revealed.
This declarement completes the company’s planned review of the Cellulose Fibers business. The company recently declared the sale of its pulp mills and liquid packaging board business.
“Through our planned review of the Cellulose Fibers business we have improved the focus of our company and created noteworthyvalue for Weyerhaeuser shareholders,” said Doyle R. Simons, president and chief executive officer. “We will continue to build on this strong foundation as we work together to be the world’s premier timber, land, and forest products company. We are proud of the contributions NORPAC employees have made to Weyerhaeuser and will continue to make in the future as part of One Rock.”
Valeant Pharmaceuticals Intl Inc (NYSE:VRX), lost -3.70% and closed at $23.68 in the last trading session. The last trading range of the stock ranges between $23.62 and $24.48. During the 52-week trading session the minimum price at which share price traded, registered at $15.88 and reached to max level of $179.83. Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) recently declared that Louis W. Yu, Ph.D. has been designated to the newly created position of Chief Quality Officer, Global Quality, effective October 3, 2016.
Dr. Yu will report to Joseph C. Papa, Chairman and CEO of Valeant. As a new member of Valeant’s Executive Committee, Dr. Yu will oversee all aspects of quality and regulatory compliance for all of Valeant’s global businesses and operating sites.
Dr. Yu joins Valeant with more than 30 years of leadership experience in the Quality and R&D functions of generic and branded pharmaceutical companies. He was Executive Vice President, Global Quality & Compliance at The Perrigo Company from November 2006 to January 2016, where he was responsible for planned leadership and regulatory compliance in addition to the global patient safety/medical affairs departments. He also served between May and September 2016 as the Senior Vice President, Global Quality and Compliance at AMRI, a contract development and manufacturing organization (CDMO) company.
“Delivering quality products leads to quality health outcomes, and that is what we are focused on at Valeant,” said Joseph C. Papa, chief executive officer of Valeant. “Dr. Louis Yu is a great addition to our organization, and we are delighted to bring him into the company in the important new role of Chief Quality Officer. Dr. Yu’s deep quality leadership experience at a number of branded and generic pharmaceutical companies gives him a deep understanding of what our customers and regulators need, and I look forward to working closely with him.”