On Friday, Shares of YY Inc (ADR) (NASDAQ:YY), gained 0.93% to $61.02.
YY Inc., declared its unaudited financial results for the second quarter ended June 30, 2015.
Second Quarter 2015 Highlights
- Net revenues rose by 61.4% to RMB1, 357.2 million (US$218.9 million) from RMB841.0 million in the corresponding period of 2014.
- Net income attributable to YY Inc. rose by 31.0% to RMB290.7 million (US$46.9 million) from RMB221.9 million in the corresponding period of 2014.
- Non-GAAP net income attributable to YY Inc.1 rose by 17.0% to RMB302.3 million (US$48.8 million) from RMB258.4 million in the corresponding period of 2014.
Mr. David Xueling Li, Chief Executive Officer of YY, stated, “We are excited about our robust performance in the second quarter of 2015, as we continue to grow and strengthen our interactive social platform and further expand our new initiatives. Revenue growth exceeded our guidance for the quarter, driven both by the continued strong performance in the core segments and the remarkable progress in the emerging businesses. Our core online music and entertainment business, notwithstanding the raised competition in the online entertainment market, continued apace, with strong growth from Mobile YY both in terms of ARPU and paying users. Going forward, we will continue to adapt to the evolving Internet landscape in China and provide new and innovative services to our community of users.”
YY Inc., through its auxiliaries, operates an online social platform in the Peoples Republic of China. It engages users in real-time online group activities through voice, video, and text on personal computers and mobile devices; and enables users to create and organize groups of various sizes to discover and take part in a range of online activities, counting music shows, online games, dating shows, live games broadcasting, and e-learning.
Shares of CTI BioPharma Corp (NASDAQ:CTIC), declined -1.11% to $1.78, during its last trading session.
CTI BioPharma Corp., stated financial results for the second quarter ended June 30, 2015.
Second Quarter 2015 and Recent Highlights
Clinical:
- In May, data from the PERSIST-1 Phase 3 clinical trial of pacritinib for the treatment of patients with myelofibrosis showed that, contrast to best accessible therapy (exclusive of a JAK inhibitor), or BAT, pacritinib therapy resulted in a significantly higher proportion of patients with spleen volume reduction and control of disease-related symptoms. Treatment with pacritinib resulted in improvements in severe thrombocytopenia and severe anemia, eliminating the need for blood transfusions in a quarter of patients who were transfusion dependent at the time of enrollment. Gastrointestinal symptoms were the most common adverse events and typically lasted for about one week. A limited number of patients suspended treatment due to side effects. There were no Grade 4 gastrointestinal events stated. These results were presented in a late-breaking oral session at the 51st Annual Meeting of the American Society of Clinical Oncology.
- In June, results from PERSIST-1 patient-stated outcome (PRO) and other quality of life measures presented at a late-breaking oral session at the 20th Congress of the European Hematology Association (EHA) showed noteworthy improvements in symptom score with pacritinib therapy contrast to BAT across the symptoms stated in the presentation.
- In June, data from an investigator-sponsored Phase 2 trial of tosedostat in elderly patients with either primary acute myeloid leukemia (AML), or AML that has evolved from myelodysplastic syndrome (MDS) showed that the combination of tosedostat with low-dose cytarabine/Ara-C (LDAC) resulted in an overall response rate of 54 percent in elderly patients with AML, with 45 percent of patients achieving durable complete responses. These findings were also presented at the EHA congress.
Corporate:
- In June, the following two potential milestone payments from Baxalta Incorporated, or Baxalta, to CTI BioPharma were accelerated in the amount of $32 million: a $12 million development milestone advance payable in connection with the potential regulatory submission to the European Medicines Agency with respect to pacritinib, which Baxalta anticipates submitting as early as late in 2015, and a $20 million development milestone advance payable for the first treatment dosing of the last patient enrolled in PERSIST-2 (the ongoing randomized Phase 3 trial evaluating pacritinib for patients with myelofibrosis whose platelet counts are less than or equal to 100,000 per microliter).
- In June, reached an amendment to the loa contract with Hercules Technology Growth Capital, Inc. under which we received $6.2 million in additional funding with the potential to borrow an additional $5 million subject to certain conditions.
- In July, Bruce J. Seeley was designated as Executive Vice President and Chief Commercial Officer to lead all aspects of commercial operations.
CTI BioPharma Corp., a biopharmaceutical company, engages in the acquisition, development, and commercialization of novel targeted therapies for blood-related cancers in the United States and internationally.
At the end of Friday’s trade, Shares of PDC Energy Inc (NASDAQ:PDCE), gained 1.07% to $55.79.
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.
2015 Updated Guidance Highlights
- Raised total production to a range of 14.7 to 15.0 MMBoe, comprising of 47% oil production and a predictable year-end exit rate of greater than 48,000 Boe per day. The midpoint of the updated range is a 60% enhance from 2014 ongoing operations.
- Improved drilling efficiencies, resulting in an approximate 30% enhance in predictable wells spud to about 155 with an estimated 125 turn-in-lines.
- Further reduced Wattenberg per well costs to an estimated $3.1 and $4.1 million for standard and extended reach lateral wells, a 28% and 25% decrease from 2014, respectively.
- Raised predictable cash flows from operations to a range of $400 to $420 million, with full-year capital expenditures of $520 to $550 million.
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. The company operates in two segments: Oil and Gas Exploration and Production, and Gas Marketing.
Finally, Pioneer Natural Resources (NYSE:PXD), ended its last trade with 0.45% gain, and closed at $127.58.
Pioneer Natural Resources Company declared financial and operating results for the quarter ended June 30, 2015.
Pioneer stated a second quarter net loss attributable to common stockholders of $218 million, or $1.46 per diluted share. Without the effect of noncash derivative mark-to-market losses and other unusual items, adjusted income for the second quarter was $15 million after tax, or $0.10 per diluted share.
Second quarter and other recent highlights comprised of:
- producing 197 thousand barrels oil equivalent per day (MBOEPD) in the second quarter, of which 51% was oil; second quarter production reflected strong Spraberry/Wolfcamp production growth driven by Pioneer’s successful horizontal drilling program partially offset by lower-than-predictable production in the Eagle Ford Shale and the West Panhandle field;
- maintaining a production growth forecast for 2015 of 10%+, reflecting an enhance in forecasted Spraberry/Wolfcamp production growth from 20%+ to 22% to 24% offset by a reduction in the full-year growth rate for the Eagle Ford Shale;
- closing the sale of the Eagle Ford Shale Midstream business in July for $2.15 billion (gross); Pioneer received net sale proceeds of $530 million at the closing and will receive an additional $500 million in July 2016; Pioneer will also benefit from fee reductions under existing downstream processing and transportation contracts by about $100 million on a net present value (NPV) basis;
- realizing noteworthy service cost reductions and efficiency gains that have resulted in (i) a 20% to 25% decrease in drilling and completion costs contrast to 2014, (ii) a 20% reduction in horizontal tank battery construction costs contrast to 2014 and (iii) a 17% reduction in lease operating expenses per barrel oil equivalent (BOE) contrast to 2014; the Company anticipates to achieve additional cost reductions and efficiency gains by early 2016, with drilling and completion costs and horizontal tank battery construction costs predictable to decline by more than 30% and 25%, respectively, contrast to 2014;
- placing 28 horizontal wells on production during the second quarter in the northern Spraberry/Wolfcamp; early production results from 16 wells in the Wolfcamp B interval are on average tracking estimated ultimate recoveries (EURs) of more than 1 million barrels oil equivalent (MMBOE), with average 24-hour peak production rates of about 1,900 barrels oil equivalent per day (BOEPD) and 79% oil content; early production results from five wells placed on production (POP) in the Lower Spraberry Shale interval are on average tracking EURs of 1 MMBOE, with average 24-hour peak production rates of about 1,100 BOEPD and 81% oil content; seven of the horizontal wells (six Wolfcamp B interval and one Lower Spraberry Shale interval) benefited from completion optimization testing;
- delivering an average EUR of 1 MMBOE from all Wolfcamp B and Wolfcamp A interval wells drilled in the northern Spraberry/Wolfcamp since 2013;
- exporting 20 thousand barrels oil per day (MBOPD) gross (7 MBOPD net) of Eagle Ford Shale processed condensate in the second quarter under term contracts that significantly improved pricing contrast to domestic condensate sales; also exported 6 MBOPD gross on a spot basis in June; and
- ongoing education efforts on the benefits of lifting the U.S. oil export ban.
Pioneer Natural Resources Company engages in the exploration and production of oil and gas in the United States. The company produces and sells oil, natural gas liquids (NGLs), and gas.
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