On Thursday, Shares of Alcoa Inc (NYSE:AA), added 1.86% and closed at $31.78 in the last trading session. The last trading range of the stock ranges between $31.07 and $32.02. Alcoa Inc. (AA) declared recently that it has accomplished the formerly-declared reverse stock split of Alcoa Inc. common stock at a ratio of 1 for 3 and a proportionate reduction in the number of authorized shares of its common stock, from 1,800,000,000 shares to 600,000,000 shares.
The reverse stock split and authorized share reduction were approved by Alcoa shareholders at a special shareholder meeting earlier recently. The applicable articles of amendment were filed in the Pennsylvania Department of State on October 5, 2016.
Alcoa Inc. common stock will begin trading on a split-adjusted basis at market open on October 6, 2016. Alcoa Inc. common stock will continue to trade on the New York Stock Exchange under the symbol “AA,” although a new CUSIP number (013817507) has been assigned to it as a result of the reverse stock split.
No fractional shares have been issued in connection with the reverse stock split. Shareholders otherwise entitled to receive fractional share(s) as a result of the reverse stock split will receive cash payments in lieu of such shares.
FirstEnergy Corp. (NYSE:FE), jumped 0.25% and closed at $31.47 in the last trading session. The last trading range of the stock ranges between $31.16 and $31.76. The company’s Market capitalization is $13.28 Billion with the total Outstanding Shares of 425.20 million. FirstEnergy Corp. (FE) is rebuilding a 13.3-mile section of an existing 138-kilovolt (kV) transmission line connecting substations in Fayette and Lyons to assist enhance service reliability for more than 18,000 Toledo Edison customers in Fulton County.
The $16.5 million project includes replacing 334 poles in the existing right-of-way, together with stringing more than 13 miles of new wire. A remote control switching device also will be installed on the new section, which allows grid operators to assess operational conditions more quickly, reducing the length and frequency of service disruptions.
The rebuilt transmission line is planned to be operational by the end of 2016. The new poles also will accommodate a second 138-kV transmission line for future load growth, as needed.
“This transmission project will benefit customers now, while also enabling our system to handle additional load growth in the future,” said Rich Sweeney, regional president of Toledo Edison. “When accomplished, the rebuilt power line and remote-control equipment will assist enhance service reliability in the region by strengthening the grid and increasing the flexibility and redundancy of our system.”
Welltower Inc (NYSE:HCN), lost -0.07% and closed at $70.33 in the last trading session. The last trading range of the stock ranges between $69.11 and $70.78. During the 52-week trading session the minimum price at which share price traded, registered at $52.80 and reached to max level of $80.19. Welltower Inc. is an independent equity real estate investment trust. The firm engages in acquiring, planning, developing, managing, repositioning and monetizing of real estate assets. It mainly invests in the real estate markets of the United States. The firm mainly invests in senior living and health care properties. It invests across the full spectrum of health care real estate, counting senior living communities, medical office buildings, inpatient and outpatient medical centers and life science facilities.