Boston, MA 06/03/2014 (wallstreetpr) – The TJX Companies, Inc. (NYSE:TJX) is offering $750 million notes to raise money for the redemption of $400 million notes that are due on August 15, 2015. The balance of the company will be channeled to working capital and other corporate purposes, according to a company press release. The offering of the new notes is expected to close on June 5, 2014. The newly issued notes will be due in 2021.
The apparel and home fashion retailer has tapped Bank of America Corp (NYSE:BAC), Deutsche Bank Securities, Wells Fargo Securities and HSBC as acting joint book-running managers in the June 5, offering.
TJX Companies (NYSE:TJX) earned 64 cents per share in the most recent quarter, falling short of the consensus estimate of 67 cents. Revenue for the quarter was $6.49 billion. Both revenue and earnings were up on a year-over-year basis.
Occidental Petroleum Corporation (NYSE:OXY) insiders are smiling all the way to the bank. The past six months saw insiders scooping shares of the company and those investments appear to be paying off handsomely faster than expected. At least four different instances of insider purchases were noted in OXT within the trailing six months period during which the stock has also touched new highs.
The company’s strong 1Q2014 financial results also provided support for the stock. The 1Q2014 net income was $1.75 per diluted share, ahead of $1.68 per diluted share in 1Q2013. Occidental Petroleum Corporation (NYSE:OXY) concluded the quarter with about $2.7 billion in cash flow. Analysts are projecting big growth in the company in the next couple of years.
The oil and gas company Penn Virginia Corporation (NYSE:PVA) has announced the sale of its Mississippi assets to an undisclosed buyer in a cash transaction of $72.7 million. The sales agreement was effective as of April 1, 2014; however, the formal closing of the transaction is July 2014. The sold properties produced about 11.9 million cubic feet of 100 percent natural gas in 1Q2014.
