Stocks in Frontline Trades’ Choice- Open Text Corporation (NASDAQ:OTEX), U.S. Bancorp (NYSE:USB)

Shares of Open Text Corporation (NASDAQ:OTEX) [Trend Analysis] runs in leading trade, it surging 0.38% to traded at $61.24. The firm has price volatility of 2.01% for a week and 1.94% for a month. Its beta stands at 0.77 times. Open Text Corporation (OTEX) revealed that it has priced an underwritten public offering of 9,250,000 common shares. The Offering was priced at a public offering price of U.S. $61.00 per share. The Company granted the underwriters a 30-day option to purchase up to an additional 1,387,500 common shares to cover over-allotments, if any. The Offering is expected to close on December 19, 2016, subject to customary closing conditions.

OpenText intends to use the net proceeds from the Offering to finance a portion of the purchase price for its previously reported acquisition of Dell EMC’s Enterprise Content Division. OpenText expects to fund the balance of the purchase price and pay related fees and expenses with the net proceeds from debt financing and cash on hand.

The terms of any debt financing, which may include the issuance of new senior notes or the reopening of existing senior notes and/or borrowing under our existing or new credit facilities, have not been established at this time. The Offering is not contingent on the closing of the Acquisition or any debt financing. Narrow down four to firm performance, its weekly performance was -1.13% and monthly performance was 3.71%. The stock price of OTEX is moving down from its 20 days moving average with -0.95% and isolated negatively from 50 days moving average with -1.64%.

Several matter pinch shares of U.S. Bancorp (NYSE:USB) [Trend Analysis], as shares moving up 0.33% to $51.90 with a share volume of 435956. U.S. Bancorp (USB) reported that it has raised its prime lending rate to 3.75 percent from 3.50 percent, effective on December 15, 2016, at all U.S. Bank locations. U.S. Bancorp last reported a change in its prime lending rate on December 16, 2015, when it was surged 25 basis points to 3.50 percent. The stock is going forward its 52-week low with 42.75% and moving down from its 52-week high price with -0.76%. The float short ratio was 1.35%, as compared to sentiment indicator; Short Ratio was 2.91.

 

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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