Energy XXI: Small-Cap Snapshot: Energy XXI Gulf Coast soars after providing details on the closing of its takeov

Energy XXI Gulf Coast Inc (NASDAQ:EGC) is soaring after the Houston-based exploration and production group provided further details about the closing of its takeover by affiliates of Cox Oil LLC, a private company that owns and operates assets in the Gulf of Mexico. At a special meeting held on September 6, two-thirds of Energy Gulf Coast's shareholders signed off on the deal and Energy Gulf Coast and Cox are still working towards closing the merger on October 10. Under the agreement's terms, Cox will acquire all of the shares of Energy Gulf Coast's stock for US$9.10 per share in cash in a US$322mln deal. Energy XXI Gulf Coast emerged from bankruptcy in late 2016.Energy XXI Gulf Coast added 22.5% to US$7.57.The UK-based offshore drilling contractor Noble Corporation (NYSE:NE) is picking up steam after purchasing a new Gusto MSC CJ46 design jackup rig from the PaxOcean Group in connection with a drilling contract. Noble paid US$33.75mln of the US$93.75mln purchase price for the rig in cash and the remainder of the price was financed by the seller and will be repaid in four years. Named the Noble Johnny Whitstine, the new jackup was built at the PaxOcean Graha shipyard in Batam, Indonesia. The design of the rig allows for operations in water depths of up to 375 feet and well depths of 30,000 feet. On the back of the purchase of the new rig, Noble has entered into a new drilling contract in the Middle East, which is set to last three years to start, with a one-year option, and will begin early next year.Noble jumped nearly 6% to US$6.88.Read: EARLY MOVERS: Wells Fargo in focus as it unveils jobs cull; while Pier 1 Imports shares take a divePier 1 Imports Inc (NYSE:PIR) is taking a hammering after the furnishings retailer reported disappointing preliminary earnings results due to what it is calling "execution challenges". Indeed, Pier 1 revealed that it expects a second-quarter loss of US$0.62 to US$0.64 per share and its comparable sales to plunge by 11.4% from the same period last year. Pier 1 had previously forecast a loss of US$0.54 to US$0.58 while Wall Street had expected Pier 1 to lose US$0.55 per share.Pier 1 shed 23% to US$1.39.Shares of Steelcase (NYSE:SCS) are on the rise after the furniture company beat Wall Street analysts' forecasts for the fiscal second quarter and issued promising guidance for the third quarter. The Grand Rapids, Michigan-based company posted net income of US$49.1mln, or US$0.41 per share, in its fiscal second quarter, up from US$36.9mln or US$0.31 per share in the year-ago quarter. Its revenue, meanwhile, came in at US$875.8mln. The results crushed the expectations of Wall Street analysts who had forecast Steelcase would earn US$0.29 per share on revenue of US$875.6mln Steelcase was also in the news this week due to the announcement of its US$79mln (£60mln) acquisition of Orangebox Group, a UK-based designer and manufacturer of furniture.Steelcase added nearly 15% to US$18.55.