of net effective same store net operating income growth was 3.2% for 4Q16 and 5.6%
for 2016. In 2016, development stabilizations had an estimated margin of 27%
and value creation of over $570MM. Development starts had an estimated margin
of over 20% and net deployment activity generated surplus cash of $1.4Bil.
Regarding the 2017 year-end backlog, $LMT said the company might see a little bit of degradation of about $2MM or so for the year. The company added that the big orders for the year that are expected are the LRIP 11 definitization for F-35.
$AKS said that it believes electrical steel market will continue to experience volatility due in large part to the production over capacity in China. However, the company believes it is in well position to serve the electrical steel market and provide customers with products to meet the new high efficiency standards both in U.S. and Europe.
$HOPE signed agreement whereby U & I Financial Corp. will merge with and into $HOPE and UniBank, a subsidiary of U & I FInancial, will merge with and into Bank of Hope, a subsidiary of $HOPE. The total aggregate value of the transaction is about $48.8MM or $9.50 per U & I Financial common share. The transaction is expected to close during 3Q17.
$REXX reported 4Q16 production of 194.9 MMcfe/d, an increase of 12% over last year. Production consisted of 120.9 MMcf/d of natural gas and 12.3 Mboe/d of condensate and NGLs (including 5.8 Mboe/d of ethane).