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Civitas Resources Agrees To Buyback $300 Mln Of Its Common Stock From CPPIB
(RTTNews) - Civitas Resources, Inc. (CIVI) reported on Tuesday that it has agreed to repurchase approximately 4.9 million shares of its common stock, par value $0.01 per share at a price of $61.00 per share, resulting in aggregate consideration of approximately $300 million from its largest shareholder, Canada Pension Plan Investment Board or CPPIB.
Following the Repurchase, CPPIB will remain the Company's largest shareholder and will own approximately 21% of the Common Stock.
As of December 31, 2022 and prior to the Repurchase, Civitas had approximately 85.1 million shares of Common Stock outstanding. Following the Repurchase, Civitas will have approximately 80.2 million shares of Common Stock outstanding.
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U.S. Existing Home Sales Rise Less Than Expected In November
Existing home sales in the U.S. saw a modest increase in the month of November, the National Association of Realtors revealed in a report released on Friday. NAR said existing home sales rose by 0.5 percent to an annual rate of 4.13 million in November after jumping by 1.5 percent to an upwardly revised rate of 4.10 million in October.
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Pred 1 h 12 min
Russia Cuts Key Rate By 50 Bps As Expected
Russia's central bank cut its interest rate by 50 basis points on Friday but reiterated that it will maintain policy tight to bring inflation back to the target. The Board of Directors, led by Governor Elvira Nabiullina, decided to cut the key rate to 16.00 percent from 16.50 percent. The decision matched market expectations. The bank has lowered the interest rate by 400 basis points since Jun
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Pred 3 h 0 min
Bay Street May Open Slightly Higher
The Canadian market, which snapped a four-day losing streak on Thursday, looks headed for a positive start Friday morning.
Canadian retail sales data, and U.S. PCE reading are likely to make an impact.
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Pred 3 h 40 min
FTSE 100 Flat In Cautious Trade
UK's FTSE 100 was flat a little past noon on Friday with investors largely refraining from making big moves. A report showing an improvement in consumer sentiment supported the market, while data showing an unexpected drop in retail sales appeared to render the mood cautious.
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Pred 4 h 21 min
CAC 40 Roughly Flat In Lackluster Trading
France's CAC 40 was roughly flat a little past noon on Friday in somewhat lackluster trading as investors, digesting the recent policy announcements from the Bank of England and the European Central Bank, awaited the crucial PCE readings from the U.S., after yesterday's data showed an unexpected drop in consumer prices in the month of November in the world's largest economy.
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Pred 4 h 52 min
Bank Of Japan Lifts Policy Rate; Hints At More Hikes
The Bank of Japan raised its benchmark rate by a quarter-point to the highest level in three decades as inflation continued to remain above the target and hinted at further hikes. The policy board, headed by Ueda Kazuo decided, by a unanimous vote, to hike the uncollateralized overnight call rate to "around 0.75 percent" from "around 0.5 percent."
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Pred 5 h 10 min
DAX Down Marginally As Stocks Turn In Mixed Performance
German stocks turned in a mixed performance Friday morning with investors assessing the monetary policy moves by the European Central Bank and the Bank of England, and data showing an unexpected drop in U.S. price growth.
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Pred 5 h 22 min
UK Retail Sales Fall Unexpectedly
UK retail sales dropped unexpectedly in November as the Black Friday effect was slightly weaker than usual, data from the Office for National Statistics showed Friday. Retail sales dropped marginally by 0.1 percent in November from a month ago. The decline confounded expectations for an increase of 0.3 percent but this was slower than October's 0.9 percent decrease.
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Pred 6 h 15 min
