Billionaire Ubben Cuts Stake in Adobe (ADBE), Carlson Buys More Archrock (AROC), and 2 Other Moves

A separate Form 4 filing revealed that Carlson Capital snapped up 568,041 shares of Archrock Inc. (NYSE:AROC) last week, at prices that ranged from $5.41 to $5.66 per share, boosting its overall holding to 7.68 million shares. In November 2015, the company completed the previously-announced spinoff of its international contract operations, international aftermarket services, and global fabrication businesses into an independent company, named Exterran Corp (NYSE:EXTN). Following the spinoff, the freshly-renamed Archrock continues to operate the former entity’s U.S. contract operations and U.S. aftermarket services businesses. Archrock’s financial performance is highly dependent upon the level of energy industry spending for E&P activities, which serves as the primary explanation for the company’s disappointing stock performance. Archrock Inc. (NYSE:AROC)’s shares have lost 25% over the past one-year period. Its revenue for the third quarter of 2015 reached $2.06 billion, down from $2.11 billion reported for the same period of the prior year.

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