BP Sells 50% Stake in TNK-BP and 4 Hot Stocks Kicking Off the Week
Grocery chain Supervalu (NYSE:SVU) has its shares moving higher as speculation mounts that it may be acquired. Supervalu said on Thursday that it was evaluating various strategic options and had received “indications of interest” and was holding talks with several parties.
Interactive gaming content creator International Game Technologies (NYSE:IGT) announces that its DoubleDown Casino solution has been signed on by 15 additional land-based casino partners who will feature it on their websites. “The DoubleDown Casino solution not only shows tremendous forward-thinking on the part of the casinos who are essentially offering their players with a free-play solution for poker, bingo, slots and additional casino-style entertainment immediately, but it also allows the casino player with a way to connect with the casino property in a way that has never been offered before,” says the press release.
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The tortuous negotiations regarding TNK-BP may have concluded with BP (NYSE:BP) confirming it has sold its 50% stake to Rosneft in return for a 12.84% stake in the form of Rosneft shares and $17.1 billion in cash. $4.8 billion out of the cash payment will be used by BP to buy another 5.66% in Rosneft from the Russian government, thereby taking its total stake in Rosneft to 19.75%. This stake will allow BP to nominate two directors on Rosneft’s board and place on its own balance sheet a portion of the latter’s earnings, production and reserves.
Union Bankshares (NASDAQ:UBSH) reports third-quarter EPS of $ 0.37 which surpasses estimates by $0.04.
Third quarter EPS of $0.14 at Metro Bancorp (NASDAQ:METR) is off estimates by $0.05 while revenues of $28.9 million are in line with consensus estimates.
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