On Friday, Shares of Cablevision Systems Corporation (NYSE:CVC), gained 0.20% to $25.53.
Cablevision Systems Corporation stated financial results for the second quarter ended June 30, 2015.
Operating highlights for the second quarter comprise:
- Improved subscriber performance with largest quarterly gains in both customer relationships and high-speed data, in more than two years.
- Average Monthly Cable Revenue per Customer (“RPC”) of $158.52, an enhance of $5.80 or 3.8%, contrast with the preceding year period.
- Year to date Merged Free Cash Flow from Ongoing Operations of $207.3 million.
Cablevision Systems Corporation, together with its auxiliaries, owns and operates cable systems in the United States. The company operates through three segments: Cable, Lightpath, and Other.
Shares of United Parcel Service, Inc. (NYSE:UPS), inclined 0.87% to $102.73, during its last trading session.
UPS, released its 13th annual Sustainability Report, highlighting its growing investment in alternative fuel and advanced technology vehicles and commitment to log 20 million hours of volunteer time by the end of 2020.
With its “Rolling Laboratory” approach, UPS accelerated its investment in an alternative fuel and advanced technology fleet of more than 5,000 vehicles last year, increasing the number of vehicles by 61 per cent over 2013 and adding 1,100 natural gas vehicles. According to the report, UPS logged 154 million miles in 2014 toward its aim of driving 1 billion miles with the fleet by the end of 2017 – an almost threefold enhance from 2013.
“It took 13 years to drive the first 350 million miles with our alternative fuel and advanced technology fleet,” said Rhonda Clark , UPS chief sustainability officer and vice president of environmental affairs. “In just one year we were able to build dramatically on that number and we are now more than halfway to our 2017 aim. With continued investments in this fleet, we are doing our part to assist transform the transportation industry.”
United Parcel Service, Inc., a package delivery company, provides transportation, logistics, and financial services in the United States and internationally. It operates in three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight.
At the end of Friday’s trade, Shares of Copa Holdings, S.A. (NYSE:CPA), lost - 2.52% to $62.01.
Copa Holdings, declared financial results for the second quarter of 2015 (2Q15).
OPERATING AND FINANCIAL HIGHLIGHTS
- Copa Holdings stated net income of US$64.1 million for 2Q15, or diluted earnings per share (EPS) of US$1.46. Not taking into account special items, Copa Holdings would have stated an adjusted net income of $41.0 million, or $0.93 per share, a 64.7% decrease over adjusted net income of US$115.9 million and US$2.61 per share for 2Q14.
- Operating income for 2Q15 came in at US$49.2 million, a 62.5% decrease over operating income of US$131.2 million in 2Q14. Operating margin for the period came in at 9.1%, contrast to 19.5% in 2Q14, as a result of lower unit revenues partially offset by lower unit costs.
- Total revenues reduced 20.1% to US$538.4 million. Yield per passenger mile reduced 20.4% to 13.2 cents and operating revenue per accessible seat mile (RASM) reduced 24.4% to 10.0 cents.
- For 2Q15, passenger traffic (RPMs) reduced 0.2% on a 5.8% capacity expansion. As a result, merged load factor came in at 72.9%, or 4.3 percentage points below 2Q14.
- Operating cost per accessible seat mile (CASM) reduced 14.7%, from 10.7 cents in 2Q14 to 9.1 cents in 2Q15, mainly due to lower jet fuel costs. CASM not taking into account fuel reduced 6.3% to 6.2 cents mainly due to lower sales related expenses and lower overhead expenses.
- Cash, short-term and long-term investments ended 2Q15 at US$1.15 billion, representing 46% of the last twelve months’ revenues. Of this amount, 39%, or US$452.2 million, is in Venezuela pending repatriation due to government currency controls.
- During the second quarter, Copa Airlines took delivery of two Boeing 737-800 aircraft, and returned a leased Boeing 737-700. Furthermore, the Company subleased one of its Boeing 737-700s to United Airlines. As a result, Copa Holdings ended the quarter with a merged fleet of 98 aircraft.
- For 2Q15, Copa Holdings stated merged on-time performance of 90.4% and a flight-completion factor of 99.7%, maintaining its position among the best in the industry.
Copa Holdings, S.A. provides airline passenger and cargo services in Latin America. It offers services within Colombia; and international flights from various cities in Colombia to Panama, Venezuela, Ecuador, México, Cuba, Guatemala, and Costa Rica.
Finally, Chimera Investment Corporation (NYSE:CIM), ended its last trade with 0.64% gain, and closed at $14.09.
Chimera Investment Corporation and Annaly Capital Management, jointly declared that, effective recently, Chimera is internalizing its administration function. The independent directors on Chimera’s Board agreed to the internalization with Annaly in order to accelerate growth and realize cost efficiencies. Chimera will continue to be led by its key professionals counting President and Chief Executive Officer Matthew Lambiase, Chief Financial Officer Rob Colligan and Chief Investment Officer Mohit Marria. In addition, Chimera’s head of structured products, Choudhary Yarlagadda, was designated Chief Operating Officer and Phillip J. Kardis II, a partner at the law firm K&L Gates LLP, was designated General Counsel. All other personnel that focus their efforts on Chimera’s business became employees of Chimera.
In connection with the internalization, Chimera reached a transition services agreement with its external manager, Fixed Income Discount Advisory Company (“FIDAC”), a wholly owned partner of Annaly. Under the transition services agreement, FIDAC will continue to provide the Company with certain transition services related to business support through the end of the year. No termination fee was paid by Chimera in connection with internalization.
As part of the agreement, Chimera will purchase Annaly’s 4.4% stake in Chimera for a purchase price of $126.4 million ($14.05 per share) as part of a new $250 million share repurchase program authorized by the Chimera Board. Purchases made following the program will be made in either the open market or in privately negotiated transactions from time to time as permitted by securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The authorization does not obligate the Company to acquire any particular amount of common shares and the program may be suspended or suspended at the Company’s discretion without preceding notice.
2nd Quarter 2015 Financial Results and Highlights
- Net Income of $116 million, up from $67 million earned in the 1st quarter of 2015 and $105 million earned in the 2nd quarter of 2014
- Core earnings of $0.53 per share down from $0.59 earned in the 1st quarter of 2015 and up from $0.41 earned in the 2nd quarter of 2014(1)
- Net interest income of $150 million, down from $183 million in the 1st quarter of 2015 and up from $114 million in the 2nd quarter of 2014
- GAAP book value of $16.73 per share, down from $17.14 per share for the 1st quarter of 2015 and down from $16.75 per share in the 2nd quarter 2014
- Economic book value of $15.54 per share, down from $15.70 per share for the 1st quarter of 2015 and up from $15.45 for the 2nd quarter of 2014
- Managed assets down to $15.4 billion from $16.0 billion at March 31, 2015 based on amortized cost
Chimera Investment Corporation operates as a real estate investment trust in the United States. The company, through its auxiliaries, invests in residential mortgage-backed securities (RMBS), residential mortgage loans, commercial mortgage loans, real estate-related securities, and various other asset classes.
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