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Anonymous ID: a8dc5b May 5, 2020, 3:27 p.m. No.9043769   🗄️.is đź”—kun   >>3815 >>4054

Crowdstrike Holdings sold by Encore Financial Partners Director: $1.71m-May 1

 

Class B common stock converted into Class A common stock on a one-for-one basis.

 

Denis O’Leary is a private investor. From 1978 to 2003 he held a variety of executive positions at J.P. Morgan Chase & Co. including: treasurer for the corporation, DGM for the company’s processing businesses, chief information officer, head of retail and small business branch banking, and managing executive of Lab Morgan (the firm’s focal point for strategic investing in the new economy). He became a member of Chase’s executive committee in 1997. Following JPMC, Denis was active as a senior advisor to the Boston Consulting Group and through 2015, as managing partner of Encore Financial Partners, Inc. a firm focused on the acquisition and management of U.S. based banking organizations. He received his MBA from NYU and his B.A. in economics from the University of Rochester. Denis served as a director of McAfee (until its sale to Intel) and numerous private and not for profit entities, and as Chairman of NYCE Corporation. Presently he is also director of Fiserv (FISV), The Warranty Group, and Hamilton State Bancshares.

https://www.crowdstrike.com/denis-oleary/

 

https://www.finviz.com/insidertrading.ashx?oc=1253512&tc=7&b=2

Anonymous ID: a8dc5b May 5, 2020, 3:32 p.m. No.9043818   🗄️.is đź”—kun   >>3855 >>4054

Occidental posts $2.2 billion loss on charges, deepens spending cuts

 

Occidental Petroleum Corp on Tuesday swung to a first quarter loss on writedowns and charges, and the troubled U.S. oil producer cut its budget for the third time since March in response to a historic oil-price crash. The company has been struggling with debt taken on in last year’s $38 billion acquisition of Anadarko Petroleum, an ill-timed bet on rising shale oil prices ahead of a market dive.

 

Global energy demand has tumbled amid coronavirus-related travel and business restrictions and a glut of oil from a price war. U.S. crude collapsed this year, and remains down about 60% from January despite a recent rally.

 

Occidental’s results included a $1.4 billion impairment charge on its Western Midstream pipeline assets, a $580 million writedown of oil and gas properties and $670 million loss on interest-rate swaps. The losses were partially offset by a $1 billion gain on crude oil hedges.

 

The company cut its 2020 project budget for a third time, to about $2.5 billion, from the original roughly $5.3 billion plan. It identified an additional $1.2 billion in operating and overhead cost cuts, it said on Tuesday. The company reported a net loss of $2.23 billion, or $2.49 per share, for the quarter ended March 31, compared with a profit of $631 million, or 84 cents per share, in the year-ago period. Occidental beat Wall Street estimates for adjusted earnings. Analysts expected an adjusted loss of 63 cents, but the company reported a loss of 52 cents, according to Refinitiv. The Anadarko purchase saddled Occidental with $40 billion in debt and the oil-price crash has cut the value of assets Occidental picked up in the deal, dashing its hopes of selling some of them to pay down the debt.

 

French oil giant Total SA on Tuesday said it had been told by Occidental it cannot acquire Occidental’s oil and gas assets in Algeria, which were part of an $8.8 billion deal reached by the companies on Anadarko’s assets in Africa.

 

Berkshire Hathaway Inc Chairman Warren Buffett, who helped bankroll the Anadarko purchase, on Saturday said the investment was conditioned on much higher oil prices. “It does not work at $20 a barrel,” said Buffett.

https://www.reuters.com/article/us-occidental-results/occidental-posts-2-2-billion-loss-on-charges-deepens-spending-cuts-idUSKBN22H2WD