Stocks on Trader’s Radar: SM Energy Co (NYSE:SM), Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL)

On WednesdaySM Energy Co (NYSE:SM), jumped 4.30% and closed at $40.06 in the last trading session. The last trading range of the stock ranges between $39.27 and $40.89. The company’s Market capitalization is $3.34 Billion with the total Outstanding Shares of 84.47 Billion. SM Energy Company (SM) declared recently that the Company closed the formerly declared acquisition of 24,783 net acres in Howard County, Texas, from Rock Oil Holdings LLC for $980 million, before customary purchase price adjustments.

The mostly contiguous acreage position expands the Company’s Midland Basin footprint to about 46,750 net acres. The effective date of the transaction is September 1, 2016, and the Company’s preliminary estimate of net production from the attained acreage for the month of September is about 5,300 Boe per day (3-stream).

Subsequent to the close of the transaction and as part of the regularly planned redetermination process under its credit agreement, the Company’s borrowing base has been raised to $1.35 billion, with bank commitments of $1.25 billion, providing the Company with substantial liquidity.

Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL), gained 0.80% and closed at $16.46 in the last trading session. The last trading range of the stock ranges between $16.25 and $16.82. During the 52-week trading session the minimum price at which share price traded, registered at $11.90 and reached to max level of $20.23. City of Dreams Manila receives another accolade, affirming the luxury integrated resort’s service and product excellence that continues to draw acclaim from local and international visitors as a world-class leisure and entertainment destination.

Crown Towers Manila, one of three premier luxury hotels built at the 6.2 hectare complex, garnered two design awards in the prestigious International Hotel and Property Awards 2016, Best Hotel over 200 Rooms (Asia Pacific) and Best Lobby/Public Area/Lounge (Global), at an awards ceremony held recently at Hotel Cipriani in Venice.

“City of Dreams Manila carries the very best DNA of the Melco Crown Entertainment brand. Following Mr. Lawrence Ho, our Chairman and CEO’s grand vision, City of Dreams Manila has joined its sister properties in Macau to become the best in its breed,” Geoff Andres, Property President of City of Dreams Manila, remarked. “We are elated and proud over this international distinction that strengthens City of Dreams Manila’s position as the ultimate in entertainment and hospitality, offering a spectacular and cosmopolitan collection of contemporary and leisure experiences. It affirms our commitment to deliver outstanding quality products and services and enhance the leisure landscape in the country at a level equal to the best in the world.

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