On Thursday, Shares of Sprint Corporation (NYSE:S), gained 4.44% to $3.29.
Sprint Corporation stated operating results for the first fiscal quarter of 2015, counting record low Sprint platform postpaid churn of 1.56 percent, total net additions of 675,000, and for the fifth successive quarter, reduced postpaid phone losses to reach phone net additions in May and June. In addition, the company stated net operating revenue of $8 billion, operating income of $501 million and Adjusted EBITDA* of $2.1 billion, and is raising its fiscal year 2015 Adjusted EBITDA* outlook from the previous expectation of $6.5 to $6.9 billion to $7.2 to $7.6 billion, not taking into account any accounting impacts from potential lease financing.
Record Sprint Platform Postpaid Churn Highlights Continued Improvement in Customer Metrics
Sprint is improving the customer experience with better network performance and a compelling value proposition, counting simple offers such as its industry-first leasing program and the recently introduced All-In Wireless plans. The company made noteworthy progress on retaining more of its valuable postpaid customers, counting a record low Sprint platform postpaid churn rate of 1.56 percent – a 49 basis point improvement year-over-year. Additionally, the company saw strong improvement in the more profitable phone customers. These trends contributed to improvement in several Sprint platform postpaid customer metrics.
- Postpaid net additions of 310,000 contrast to net losses of 181,000 in the preceding year quarter – an improvement of 491,000 year-over-year.
- Postpaid phone losses were 12,000, but for the first time in nearly two years Sprint recorded monthly postpaid phone net additions in both May and June. This marked the fifth successive quarter of sequential improvement and contrast to losses of 620,000 in the preceding year quarter. The 608,000 year-over-year improvement was driven by lower churn and a 13 percent enhance in gross additions, counting a 47 percent enhance in gross additions with prime credit quality.
- Net port positive for the second successive quarter.
Sprint Corporation, through its auxiliaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the U.S. Virgin Islands.
Shares of Coca-Cola Enterprises Inc. (NYSE:CCE), inclined 2.99% to $53.39, during its last trading session, hitting its highest level.
Coca-Cola Enterprises declared the appointment of Damian Gammell as Chief Operating Officer and the retirement of Hubert Patricot, President European Group in 2016.
Mr. Gammell will join the Company later this autumn from Anadolu Beverage Group, where he presently serves as President and Chief Executive Officer. Anadolu, based in Turkey, is one of the world’s largest beverage companies and owns Coca-Cola Icecek, one of the largest and fastest-growing bottlers of Coca-Cola products by sales volume. With operations across Eurasia, Anadolu serves more than 660 million consumers. He joined the Group in 2010 from The Coca-Cola Company, where he held CEO roles in Russia and Germany. During his 20-year career with the Coca-Cola system, Mr. Gammell has worked in Eastern Europe, Russia, Australia, Korea, Indonesia, Germany, Turkey and Pakistan, among other locations.
Mr. Gammell holds a Master of Science in change administration from Oxford University and HEC Paris. He has also accomplished programs at the Kennedy School of Government, Harvard University, and the Dublin Institute of Technology.
Coca-Cola Enterprises, Inc. produces, distributes, and markets non-alcoholic beverages in Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, and Sweden.
Finally, XOMA Corporation (NASDAQ:XOMA), ended its last trade with -13.32% loss, and closed at $0.78.
XOMA Corporation offered a corporate update and stated its financial results for the quarter ended June 30, 2015.
Financial Results
XOMA stated total revenues of $2.5 million in the second quarter ended June 30, 2015, contrast with $6.0 million in the corresponding period of 2014. The reduction in 2015 revenues reflects lower activity under the Company’s existing contracts with National Institute of Allergy and Infectious Diseases (NIAID) for the development of anti-botulism agents.
Research and development (R&D) expenses for the second quarter of 2015 were $19.7 million, contrast with $19.6 million in the corresponding period of 2014.
Selling, general and administrative (SG&A) expenses were $5.1 million in the second quarter of 2015, as contrast to $5.2 million in the corresponding quarter of 2014.
For the second quarter of 2015, XOMA had a net loss of $23.8 million, contrast with a net loss of $11.9 million for the second quarter of 2014. Not taking into account non-cash charges related to the revaluation of warrant liabilities, net loss in the quarters ended June 30, 2015 and 2014, was $23.6 million and $19.9 million, respectively.
XOMA Corporation discovers and develops antibody-based therapeutics in the United States, Europe, and the Asia Pacific. The company’s lead product candidate comprises gevokizumab, a proprietary humanized allosteric-modulating monoclonal antibody that binds to the inflammatory cytokine interleukin-1 beta, which is in Phase III clinical trial for NIU and Behçet’s disease uveitis, pyoderma gangrenosum, active non-infectious anterior scleritis, autoimmune inner ear disease, and cardiovascular diseases, in addition to diseases under the neutrophilic dermatoses designation, Schnitzler syndrome, and other diseases; and various proof-of-concept studies comprising polymyositis/dermatomyositis, Schnitzler syndrome, and giant cell arteritis.
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