On Tuesday, Shares of Intel Corporation (NASDAQ:INTC), added 1.23 % and closed at $37.75 in the last trading session. INTC stock opened its last trade at $37.97 and after floating in a range of $37.53 to $38.05. The company’s Market capitalization is $177.83 Billion with the total Outstanding Shares of 4.73 billion. During the 52-week trading session the minimum price at which share price traded, registered at $27.68 and reached to max level of $38.36. The Earnings per Share of the company stands at $2.07. Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Software and Services, and All Other segments. The companys platforms are used in various computing applications comprising notebooks, 2 in 1 systems, desktops, servers, tablets, smartphones, wireless and wired connectivity products, wearables, retail devices, and manufacturing devices, in addition to for retail, transportation, industrial, buildings, home use, and other market segments. It offers microprocessors that processes system data and controls other devices in the system; chipsets, which send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive or solid-state drive, and optical disc drives; and system-on-chip products that integrate its central processing units with other system components onto a single chip. The company also provides communication and connectivity offerings, such as baseband processors, radio frequency transceivers, and power administration integrated circuits; and tablet, phone, and Internet of Things solutions, which include multimode 4G LTE modems, Bluetooth technology and GPS receivers, software solutions, and interoperability tests, in addition to home gateway and set-top box components. In addition, it offers security solutions for computers, mobile devices, and networks, in addition to software and services for technology integration; NAND flash memory products, which are used in solid-state drives; and custom foundry services, counting custom silicon, packaging, and manufacturing test services.
Shares of SM Energy Co (NYSE:SM), gained 0.88 % and closed at $39.06 in the last trading session. SM stock opened its last trade at $42.21 and after floating in a range of $38.08 to $43.09. The company’s Market capitalization is $3.28 Billion with the total Outstanding Shares of 84.47 million. During the 52-week trading session the minimum price at which share price traded, registered at $6.99 and reached to max level of $43.09. The Earnings per Share of the company stands at $-12.54. SM Energy Company (SM) recently declared that it has reached a definitive purchase agreement to acquire 35,700 net acres in Howard and Martin Counties in West Texas, expanding the Company’s Midland Basin footprint to about 82,450 net acres. The attained acreage complements, and is partially contiguous to, the Company’s recently closed Howard County acreage acquisition and includes about 2,400 Boe per day net production. The purchase price is $1.1 billion cash, subject to customary purchase price adjustments, plus 13.4 million shares of SM common stock to be issued to the seller. The seller is QStar LLC, a portfolio company of EnCap Investments L.P. and a related entity. The Company also declared recently that it has reached a definitive agreement for the sale of its Williston Basin assets located outside of Divide County for $785 million, subject to customary purchase price adjustments. The purchaser is Oasis Petroleum Inc.
President and Chief Executive Officer Jay Ottoson comments: “Our strategy is straight-forward, we intend to deliver growth in cash flow per debt-adjusted share by being a premier operator of top tier assets. We have established a position as an outstanding operator in the Midland Basin, and with this acquisition we also establish noteworthyscale. We are particularly excited about the performance and future potential of Howard County, leading us to further core up our portfolio and focus on this fast emerging, top tier area.
“As with our initial Howard County acquisition, we expect to right away employ our operational expertise to the area. Our preliminary plans for Midland Basin activity include adding a fourth rig during the fourth quarter of 2016 and increasing to six rigs in early 2017, thereby increasing our expected aggregate 2016 capital program before acquisitions to about $710 million. We continue to work to concentrate capital on the highest return programs and generate higher company-wide margins, which drive cash flow growth and value creation for our shareholders.”