Abnormal Volume Gains- Macy’s, Inc. (NYSE:M), SL Green Realty Corp. (NYSE:SLG), Marathon Petroleum Corporation (NYSE:MPC)

April 26, 2023 3:17 am0 commentsViews: 91

Macy’s, Inc. (NYSE:M) released that it has sold its downtown Pittsburgh building at 400 Fifth Avenue to Philadelphia-based Core Realty, which is planning a main mixed-use redevelopment for the historic building. Macy’s will close its store in so as to location. The firm reported that a final clearance sale in the downtown Pittsburgh store will begin on Monday, July 20, and is expected to run until early September. According to the company, about 30 Macy’s associates who work in various district offices on the 11th floor of the downtown Pittsburgh building will be relocated to space in another Macy’s store in the Pittsburgh area. Macy’s, Inc. (NYSE:M) has the market capitalization of 22.44 Billion. Shares of firm surged 0.35% to close at $66.71 with the total traded volume of 3.39 Million. The firm has current ratio of 1.50 for the most recent quarter.

SL Green Realty Corp. (NYSE:SLG) released that sale of Tower 45 and the JV of SoHo property. The aggregate worth for both transactions amounted to $642.8M. Both transactions are anticipated to be completed in the Q3 . The firm decided to sell Tower 45, the office building located at 120 West 45th Street, for $365M, or around $830 per square foot; and the formation of a joint venture with Invesco Real Estate for the ownership of 131-137 Spring Street, a 73,000 square foot mixed-use asset located in SoHo. As per agreement terms, Invesco will acquire an 80 percent stake in the property, with SL Green retaining a 20 percent ownership interest as well as management and leasing responsibilities. The transaction values the property at $277.8 million. SL Green Realty Corp. (NYSE:SLG) begun last trade with a price of $113.98 and throughout the trading session climbed at a high of $116.04. The day-trade ended with -0.58% to $114.26. The stock is going forward to its 52-week low with 16.11% and lagging behind from its 52-week high price with -15.02%. SLG last month stock price volatility remained 1.61%.

Marathon Petroleum Corporation (NYSE:MPC) released that MPLX LP (MPLX), the midstream master limited alliances or MLP sponsored by MPC, has reached on a definitive merger contract with MarkWest Energy Partners, L.P. (MWE) whereby MarkWest would turn out to be a wholly owned subsidiary of MPLX. The merger would be a unit-for-unit transaction, plus a one-time cash payment to MarkWest unitholders, that implies an enterprise value for MarkWest of about $20 billion, including the assumption of debt of approximately $4.2 billion, as of the close of trading on, July 10, 2015. MPLX Chairman and Chief Executive Officer Gary R. Heminger said that as part of the combination, MPLX affirms its anticipated distribution growth of 29% current year and anticipates a 25% compound annual distribution growth rate for the combined entity through 2017, with the capacity to support a peer-leading distribution growth profile for an extended period of time thereafter. Marathon Petroleum Corporation (NYSE:MPC) stock price closed at $58.78 with the total traded volume of 14.31 Million shares. Its price to sales ratio ended at 0.32. Its market capitalization is 31.93 Billion. The stock owned by the Financial Institutions was 84.40% while by insiders was 0.30%.


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