On Thursday, Shares of Dow Chemical Co (NYSE:DOW), added 1.69% and closed at $53.59 in the last trading session. The last trading range of the stock ranges between $52.38 and $53.61. Monsanto Company (MON) and Dow AgroSciences LLC, a wholly-owned partner of The Dow Chemical Company (DOW), declared recently that the companies have reached a non-exclusive global option and licensing agreement on Dow AgroSciences’ EXZACT™ Precision Technology® Platform for research and commercial development of new crop solutions across Monsanto Company’s research portfolio. EXZACT technology, which Dow AgroSciences has developed under an exclusive license and partnershipagreement in plants with Sangamo BioSciences, Inc., facilitates the creation of crop varieties and lines having improved traits.
“Monsanto is happy to pursue applications of this genome-editing technology for the development of new plant discoveries and solutions for farmers,” said Tom Adams, Ph.D., biotechnology lead for Monsanto. “Zinc finger nucleases are a well-established technology for gene editing and this license, together with our existing and other licensed technology, will allow us to pursue product development while further enabling our growing body of research in this emerging field.”
“EXZACT technology is assisting to deliver next generation crop improvements into the hands of farmers,” said Daniel R. Kittle, Ph.D., vice president, research and development, Dow AgroSciences. “Broad adoption of EXZACT by industry partners, such as Monsanto, expands access to solutions that will improve grower productivity and profitability.”
Both companies noted that genome-editing technology and the broad array of emerging genome-editing techniques, counting the zinc finger nuclease (ZFN) technology in EXZACT, represent key scientific applications that can deliver breakthroughs in agriculture. Monsanto believes that genome-editing technologies will facilitate plant breeders to deliver better hybrids and varieties more efficiently, in addition to offer plant scientists additional resources to provide new improvements in plant biotechnology.
Basic Energy Services, Inc (NYSE:BAS), jumped 6.89% and closed at $0.774 in the last trading session. The last trading range of the stock ranges between $0.74 and $0.82. The company’s Market capitalization is $30.70 million with the total Outstanding Shares of 42.76 million. Basic Energy Services, Inc. (BAS) (“Basic” or the “Company”) and certain auxiliaries recently declared that the Company, its secured term loan lenders and secured asset-based revolver lenders (collectively, the “Secured Lenders”), and certain of its unsecured bondholders have taken steps to facilitate the continuation of negotiations regarding a deleveraging transaction.
On September 14, 2016, the Company reached a forbearance agreement with over 81% of the holders of the 7.75% senior notes due 2019 (the “2019 Notes”) with respect to the formerly declared 30-day grace period related to an $18.4 million payment of interest under the 2019 Notes. Under the forbearance agreement, the unsecured noteholders agreed to forbear from exercising their rights and remedies, counting the right to accelerate any indebtedness, through September 28, 2016 in connection with the interest payment default (the “Forbearance Period”). In Addition To, the Company’s Secured Lenders agreed to provide temporary waivers of certain existing and future defaults under the Term Loan and ABL Facility related, in part, to the missed interest payment.
During the Forbearance Period, the Company and its creditors have continued to make progress in their negotiations regarding a deleveraging transaction. To provide the Company with additional time to continue and conclude these negotiations, the Company has reached a contract with over 81% of the holders of the 2019 Notes to extend the Forbearance Period through October 16, 2016 (the “Extension Period”). The Company’s Secured Lenders have also agreed to provide extensions of their respective temporary waivers through the Extension Period.
Roe Patterson, Basic’s President and Chief Executive Officer, reiterated, “We look forward to continuing our restructuring negotiations with our Secured Lenders and unsecured bondholders during the Extension Period, and I am grateful to our creditors for their continued support and cooperation. The extension of the forbearance and temporary waivers will provide the time we need to accomplish a mutually acceptable financial restructuring plan that provides Basic with a sustainable capital structure that supports the Company’s long-term business plan and results in long-term value generation for the benefit of our employees, customers, vendors, and all other stakeholders.”
American Tower Corp (NYSE:AMT), gained 1.00% and closed at $108.51 in the last trading session. The last trading range of the stock ranges between $106.07 and $108.74. During the 52-week trading session the minimum price at which share price traded, registered at $83.07 and reached to max level of $118.26. American Tower Corporation (AMT) declared recently that the press declarement of its third quarter 2016 results is planned to be released to the news services at 7:00 a.m. ET on Thursday, October 27, 2016. In addition, the Company has planned a conference call at 8:30 a.m. ET on October 27, 2016 to discuss its results.