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Wall Street Highlight: The Dow Chemical (DOW), Allergan (AGN), Chesapeake Energy (CHK)

Boston, MA 09/24/2014 (wallstreetpr) – The Dow Chemical Company (NYSE:DOW) will be responsible for the reduction of greenhouse gas emissions at the upcoming 2016 Olympic Games in Brazil. The company was selected as the official partner for the environmental sustainability program during the games. The program seeks to lower the impact of the games on the environment. The Dow Chemical Company (NYSE:DOW) will be required to use its technologies, even those from the third-parties to help with the sustainability program. The Dow Chemical Company (NYSE:DOW) targets to reduce at least 500,000 tons of carbon dioxide equivalent (CO2eq) during the Rio de Janeiro 2016 Olympics. Furthermore, DOW and Rio 2016 will continue to work together so as to reduce the impact of another 1.5 million tons of CO2eq emissions related to the games by 2026.

Allergan, Inc. (NYSE:AGN) could face Pershing Square Capital Management in court if it strikes a deal with Salix Pharmaceuticals without requiring a vote of its shareholders. William Ackman of Pershing threatened the Botox-maker with a lawsuit if it reaches a deal with Salix. Ackman and Valeant Pharmaceuticals are seeking to acquire Allergan (AGN) for nearly $53 billion. However, there have been wrangles, and lawsuits relating to the acquisition as the Board of Allergan, Inc. (NYSE:AGN) isn’t interested in it. They termed the offer too low to accept for a deal as it undervalues their prospects as a standalone business. A deal between Allergan, Inc. (NYSE:AGN) and Salix could be worth more than $10 billion.

Chesapeake Energy Corporation (NYSE:CHK) shareholders will receive $0.0875 per share in the quarterly dividend on October 30. The dividend will be paid to shareholders of record as of October 15. The Board of Chesapeake Energy Corporation (NYSE:CHK) also declared dividend on other convertible stocks. The $16.19 billion gas and oil company missed earnings estimates in its most recent quarter. It posted EPS of $0.36, yet the consensus estimates called for $0.52. However, its revenue jumped up more than 10% to $5.15 billion YoY, also surpassing the consensus estimate of $4.67 billion.

Published by Duncan Oleinic

Duncan Oleinic is from New Yourk. After graduating with a degree in physics, he began his career as an analyst in a broking firm. Through this experience he was able to advance to the role of correspondent for a U.S based financial news provider, where he worked from 2001 to 2007. He subsequently joined a merchant banking firm as a financial analyst focused on valuing unlisted companies in the sub-continent. Over the course of his two years here, he performed valuations of several media companies which were later acquired by peers.

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