On Wednesday, Shares of Two Harbors Investment Corp (NYSE:TWO), lost -0.31% to $9.71.
Two Harbors Investment Corp., declared its financial results for the quarter ended June 30, 2015.
Highlights
- Book value was $10.81 per common share, representing a (0.1)%(1) total return on book value after accounting for a dividend of $0.26 per share, bringing the total return on book value for the first half of 2015 to 2.1%.(2)
- Delivered Comprehensive Income of $2.7 million, a return on average equity of 0.3%, or $0.01 per weighted average common share.
- Stated Core Earnings of $80.2 million, or $0.22 per weighted average common share.(3)
- Generated an aggregate portfolio yield of 4.16% and a net interest margin of 2.79% for the quarter ended June 30, 2015.
- Accomplished two securitizations, issuing securities backed by about $493.3 million unpaid principal balance (UPB) of prime jumbo residential mortgage loans.
“We continue to shift capital from our legacy Agency and non-Agency portfolios to our operational businesses and are poised for growth in these segments over the next several quarters,” stated Thomas Siering, Two Harbors’ President and Chief Executive Officer. “We believe the expansion of these businesses has the potential to enhance valuation and drive stockholder returns.”
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), residential mortgage loans, mortgage servicing rights, commercial real estate debt and related assets, and other financial assets.
Shares of Cabelas Inc (NYSE:CAB), declined -0.23% to $43.92, during its last trading session.
Cabela’s Incorporated, declared that Peter S. Swinburn has been designated to its Board of Directors.
“I am delighted that Peter has joined our Board,” said Tommy Millner, Cabela’s Chief Executive Officer. “During his tenure as Chief Executive Officer of Molson Coors, Peter assisted Molson Coors become a stronger, more global, and more dynamic company. Peter stepped down from Molson Coors at the end of 2014 after 40 successful years in the business, and his experience will bring valuable perspective to our Board. We look forward to benefiting from his judgment and counsel.”
Mr. Swinburn served as Chief Executive Officer and President of Molson Coors Brewing Company (TAP), one of the world’s largest brewers, from July 2008 until his retirement in December 2014. He also served as a director of Molson Coors Brewing Company and MillerCoors LLC from July 2008 until his retirement. He served as President and Chief Executive Officer of Coors Brewing Company, a wholly-owned partner of Molson Coors, from October 2007 to June 2008, and as President and Chief Executive Officer of Molson Coors Brewing Company (UK) Limited (MCBC UK), a wholly-owned partner of Molson Coors, from 2005 to November 2007. Before that, he served as President and Chief Executive Officer, Coors Brewing Worldwide and Chief Operating Officer of MCBC UK following Molson Coors’ acquisition of MCBC UK in 2002, until 2003. Preceding to Molson Coors acquiring MCBC UK, Mr. Swinburn was Sales Director for Bass Brewers from 1994 to 2002. Mr. Swinburn has also served as a director of Express, Inc. (EXPR), a specialty apparel retailer, since 2012.
Cabela’s Incorporated, together with its auxiliaries, operates as a specialty retailer and direct marketer of hunting, fishing, camping, and related outdoor merchandise. The company operates through three segments: Retail, Direct, and Financial Services. The Retail segment sells products and services through its retail stores.
At the end of Wednesday’s trade, Shares of PDC Energy Inc (NASDAQ:PDCE), gained 1.77% to $55.32.
PDC Energy, stated its 2015 second quarter financial and operating results and updated its 2015 full-year guidance.
2015 Second Quarter Highlights
- Production of 37,001 Boe per day; 46% enhance year-over-year and 15% growth contrast to the first quarter of 2015.
- Crude oil production of 17,378 Bbls per day; 47% enhance year-over-year and 20% growth contrast to the first quarter of 2015.
- Spud 43 and turned-in-line 44 gross operated horizontal wells.
- In July 2015, Moody’s and Standard & Poor’s upgraded PDC’s corporate debt rating to B1 and B+ respectively, reflecting stronger operational and debt metrics.
Bart Brookman, Chief Executive Officer and President, commented, “We achieved several record setting events in the second quarter, highlighted by our raised production and our ability to complete and turn-in-line 44 operated horizontal wells, despite facing difficult weather conditions in the Wattenberg Field. Our 34 extended reach laterals are showing promising early results and setting us up for very solid third quarter production. Additionally, we are very excited with the early performance of the Cole pad in the Utica and we continue to gain confidence with our various completion methods in both basins. Last, and most important in our operations, we want to acknowledge the work of our EH&S and Operating teams in having exceeded 800 successive days of no lost time due to injuries in both operating divisions.
PDC Energy, Inc., an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States.
Finally, Sears Holdings Corp (NASDAQ:SHLD), ended its last trade with 0.75% gain, and closed at $25.37.
This back to school season, Kmart has everything parents and their kids need to start the school year right – and makes it even easier to shop and stay on budget. Shoppers can head to Kmart or Kmart.com to find stylish and on-trend apparel, uniform basics, the perfect backpack, must-have supplies and more at affordable prices. Highlights comprise:
- Bundles Worth Bragging About: For stylish kids on the move, Kmart created fashionable bundles with a $25 price point that let kids show off their personal style. Bundles comprise awesome items such as backpacks, lunch boxes and notebooks in popular themes that kids love: dogs or dinos, purples or plaids and even skaters or skulls. Parents can brag about the bundles they scored for their kids using hashtag #BundleBrag on Facebook, Twitter and Instagram.
- Fifteen-Look Fashion Collections: And for those young fashionistas, Kmart has curated ridiculously awesome apparel collections that inspire 15 looks! Kids can go back to school with practically a new wardrobe with just five tops and three bottoms that can be mixed and matched in fun combinations.
“Back to school is an exciting and busy time for parents and kids. There is so much to check off your list and it’s not just pencils, erasers and notebooks. It’s also about giving kids choices that reflect their personal style that will assist start them off right,” said Kelly Cook, chief marketing officer, Kmart. “At Kmart, we understand how important back-to-school time is and we want to assist parents and kids get everything they need.”
Kmart, a wholly owned partner of Sears Holdings Corporation (NASDAQ: SHLD), is a mass merchandising company and part of Shop Your Way, a social shopping experience where members have the ability to earn points and receive benefits across a wide variety of physical and digital formats through shopyourway.com.
Sears Holdings Corporation operates as a retailer in the United States. It operates in two segments, Kmart and Sears Domestic. The Kmart segment operates retail stores that offer a range of products, counting consumer electronics, seasonal merchandise, outdoor living, toys, lawn and garden equipment, food and consumables, and apparel; and in-store pharmacies.
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