U.S. Silica Holdings Inc (NYSE:SLCA) shares are 3.76% in the red after the fracking sand producer priced a 9-million-share secondary offering at $46.25 apiece. Moreover, the company has granted underwriters of the offering a 30-day option to buy an additional 1.35 million shares. U.S. Silica intends to use the net proceeds for general corporate purposes including for potential acquisitions of complementary businesses or assets. The number of funds in our system with holdings in U.S. Silica Holdings Inc (NYSE:SLCA) fell by four quarter-over-quarter to 31 at the end of June.
Twitter Inc (NYSE:TWTR) is slightly in the red after the company announced that its COO, Adam Bain, is stepping down. The current CFO, Anthony Noto, will replace Bain as COO. As the Chief Operating Officer, Noto will assume responsibility for Twitter’s revenue-generating organizations, including global advertising sales, global partnerships, and business development, effective immediately. 30 funds were long Twitter Inc (NYSE:TWTR) at the end of the second quarter, up by three funds from a quarter earlier.
Metlife Inc (NYSE:MET) shares have popped by 7% after the company announced that its Board of Directors has approved a new $3 billion stock buyback authorization. CEO Steven Kandarian said, “Excess capital belongs to our shareholders, and we are pleased to announce our largest ever buyback authorization now that we have defined a capitalization and execution plan for the separation of Brighthouse Financial. Together with our dividend, which has grown by 116 percent over the past three years, this buyback authorization shows that our strategy of generating higher free cash flow is gaining momentum.” 45 funds tracked by Insider Monkey owned $1.41 billion worth of Metlife Inc (NYSE:MET) shares at the end of June, amounting to 3.20% of the float.