Stocks in the News: Delta Air Lines, Inc. (NYSE:DAL), Caterpillar Inc. (NYSE:CAT), ON Semiconductor Corp (NASDAQ:ON)

On Tuesday,Shares of Delta Air Lines, Inc. (NYSE:DAL), SUBTRACT -0.43% and closed at $40.15 in the last trading session. The last trading range of the stock ranges between $40.10 and $41.38. SkyTeam, the global airline alliance, has introduced an online, retroactive credit tool to make it easier for frequent flyers to keep their account balances up-to-date. Already available across most of SkyTeam’s 20 members, the tool works in real-time to validate retroactive requests for eligible flights in a matter of clicks.

The new tool eliminates the need for manual processing of post-travel claims such as when a Frequent Flyer Program (FFP) number has not been reached a reservation. Customers simply log into their FFP account, enter their flight details and the system validates the request in seconds. Eligible flights are credited to their account automatically and retroactive requests can be made as little as one week after the date of travel – the shortest time frame in the industry.

“We are offering a fast, simple and seamless way to claim missing miles across the alliance for our more than 200 million frequent flyers,” said Michael Schutzbank, SkyTeam’s Director for Customer Loyalty. “Uncredited flights can make a difference when it comes to a customer’s status level or being able to claim an award ticket, but this quick and easy solution ensures our frequent flyers benefit from every mile flown.”

Caterpillar Inc. (NYSE:CAT), DROPPED -0.87% and closed at $87.51 in the last trading session. The last trading range of the stock ranges between $87.18 and $88.95. The company’s Market capitalization is $50.84 Billion with the total Outstanding Shares of 584.23 million. At the U.S.-Africa Business Forum last week, Caterpillar Inc. (CAT) Chairman and CEO Doug Oberhelman sat down with Egyptian President Abdel Fattah el-Sisi to discuss the future of Egyptian rail, infrastructure and power generation.

“Meeting with President Sisi offered an impressive vision for the future of Egypt,” said Oberhelman. “Infrastructure development is one of his top priorities, and we are exclusively positioned to advance these efforts as Caterpillar has been involved in some of the leading infrastructure projects in Egypt’s history. While we’re proud of our history in Egypt, the country’s incredible opportunity and bright future for investment is where we’re focused recently. Egypt is on the move and Caterpillar is committed to being a central part of the exciting developments on the horizon.”

Caterpillar products assisted expand the Suez Canal, while Caterpillar power generation products offered standby power for this massive infrastructure project. The company is also powering the construction of Egypt’s massive Tunnels Projects. Cat machines can also be seen building thousands of kilometers of new roads as part of Egypt’s National Roads project and actively participating in the construction of the New Capital City outside Cairo. The rich history and investment opportunities also extend to rail.

ON Semiconductor Corp (NASDAQ:ON), LOST -0.33% and closed at $12.18 in the last trading session. The last trading range of the stock ranges between $12.07 and $12.34. During the 52-week trading session the minimum price at which share price traded, registered at $6.97 and reached to max level of $12.69. ON Semiconductor Corporation (Nasdaq: ON) (“ON Semiconductor”) declared recently that ON Semiconductor has successfully closed the refinancing of its secured debt facilities. The refinancing transaction amended ON Semiconductor’s secured debt facilities documentation in order to, among other things, (i) replace and refinance in full its senior secured term loans with a new tranche of refinancing term loans with a 1.25% reduction in the applicable margin, (ii) increase the size of its senior secured term loan facility by $200 million to a total aggregate amount of $2.4 billion, (iii) reduce the applicable margin with respect to the revolving credit facility by 1.25% and (iv) amend certain provisions to permit the entry by ON Semiconductor’s auxiliaries into secured hedging arrangements with qualified institutions and to facilitate certain restructuring transactions and intercompany intellectual property transfers intended to achieve the efficient integration of ON Semiconductor, its auxiliaries and its attained entities (collectively, the “Transactions”).

“This refinancing further facilitates us to generate higher shareholder value from our recently closed acquisition of Fairchild Semiconductor,” said Bernard Gutmann, Executive Vice President and Chief Financial Officer of ON Semiconductor. “A lower cost of debt not only accelerates our progress towards our financial targets for the acquisition of Fairchild Semiconductor, but also facilitates faster deleveraging of our balance sheet.”

Leave a Reply

Your email address will not be published. Required fields are marked *