On Friday, Shares of Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT), lost -2.18% to $73.17.
Westin Hotels & Resorts, part of Starwood Hotels & Resorts Worldwide, declared it will soon open its first property in Daytona Beach, Florida. Owned by Humphrey Realty, a privately held real estate development and ownership firm specializing in hospitality and commercial projects, The Westin Daytona Beach Resort & Spa will open by fall 2016, following a $20 million gut renovation of the formerly independent beachfront resort. When accomplished, The Westin Daytona Beach Resort & Spa will boast 200 luxurious guest rooms, extensive meeting facilities and all the brand’s signature amenities in a prime beachfront location.
The Westin Daytona Beach Resort & Spa will feature 500 feet of oceanfront beach, an Olympic-size outdoor pool, 25,000 square feet of indoor and outdoor meeting and function space, two restaurants and bars, and a 5,000 square foot spa. The dramatic transformation of the property will comprise the reconfiguration and re-facing of the exterior, and a full transformation and redesign of the interior.
Starwood Hotels & Resorts Worldwide, Inc., together with its auxiliaries, operates as a hotel and leisure company worldwide. The company owns, operates, and franchises luxury and upscale full-service hotels, resorts, residences, retreats, select-service hotels, and extended stay hotels under the St. Regis, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Four Points, Aloft, and Element brand names.
Shares of Ameren Corp (NYSE:AEE), declined -1.85% to $42.51, during its last trading session.
Ameren Corporation, declared second quarter 2015 net income in accordance with generally accepted accounting principles (GAAP) of $150 million, or 61 cents per share, contrast to second quarter 2014 GAAP net income of $149 million, or 61 cents per share. Not taking into account results from suspended operations and a 2015 loss provision for disongoing pursuit of a construction and operating license (COL) for a second nuclear unit at Ameren Missouri’s Callaway Energy Center, Ameren recorded second quarter 2015 core (non-GAAP) net income of $141 million, or 58 cents per share, contrast with second quarter 2014 core net income of $150 million, or 62 cents per share.
The year-over-year decrease in second quarter 2015 core earnings reflected lower retail electric sales volumes driven primarily by milder early summer temperatures in 2015. In addition, the earnings comparison was negatively affected by a seasonal rate redesign and the timing of revenues under formula ratemaking related to Ameren Illinois electric delivery, in addition to higher depreciation and amortization expenses. The effects of these factors were partially offset by earnings on raised investments in electric transmission and delivery infrastructure made under formula ratemaking and a lower effective income tax rate.
“We remain on track to deliver solid earnings growth in 2015,” said Warner L. Baxter, chairman, president and chief executive officer of Ameren Corporation. “We continue to execute on key elements of our strategy, counting allocating capital to jurisdictions with modern, constructive regulatory frameworks, managing costs in a disciplined fashion and aligning spending with regulatory outcomes and economic conditions. We continue to believe that the execution of our strategy will deliver superior long-term value to both our customers and shareholders.”
Ameren Corporation operates as a public utility holding company in the United States. The company engages in the rate-regulated electric generation, transmission, and distribution; and rate-regulated natural gas transmission and distribution businesses.
At the end of Friday’s trade, Shares of Alon USA Energy, Inc. (NYSE:ALJ), lost -9.85% to $18.77.
Alon USA Energy declared results for the second quarter of 2015. Net income available to stockholders for the second quarter of 2015 was $36.4 million, or $0.52 per share, contrast to net loss accessible to stockholders of $(7.5) million, or $(0.11) per share, for the same period last year. Not taking into account special items, Alon recorded net income accessible to stockholders of $46.4 million, or $0.67 per share, for the second quarter of 2015, contrast to net loss accessible to stockholders of $(3.4) million, or $(0.05) per share, for the same period last year.
Net income accessible to stockholders for the first half of 2015 was $63.3 million, or $0.91 per share, contrast to net loss accessible to stockholders of $(6.7) million, or $(0.10) per share, for the same period last year. Not taking into account special items, Alon recorded net income accessible to stockholders of $68.0 million, or $0.98 per share, for the first half of 2015, contrast to net income accessible to stockholders of $0.5 million, or $0.01 per share, for the same period last year.
Paul Eisman, President and CEO, commented, “We are happy with our strong results for the second quarter of 2015. The excellent performance from our refining and wholesale marketing segment was complemented by solid results from our retail segment. We were also happy to see an improvement in our asphalt business for the quarter contrast to the preceding quarter and relative to the second quarter of 2014.
Alon USA Energy, Inc. engages in refining and marketing petroleum products, primarily in the South Central, Southwestern, and Western regions of the United States. It operates in three segments: Refining and Marketing, Asphalt, and Retail.
Finally, Quantum Corp (NYSE:QTM), ended its last trade with -1.87% loss, and closed at $1.05.
Fiscal First Quarter 2016 Results
- Quantum Corp., stated results for the fiscal first quarter 2016 ended June 30, 2015.
- Revenue was $110.9 million, a decrease of about $17 million, primarily driven by overall weakness in the general storage market.
- Scale-out storage and related service revenue grew about $10 million to $27.8 million, a 54 percent enhance, marking the fourth successive quarter of 50-plus percent growth and 16th successive quarter of year-over-year growth.
- Royalty revenue raised $1 million to $10.2 million.
- Disk backup systems and related service revenue was relatively flat at $17.3 million.
- Branded tape automation and related service revenue reduced about $15 million to $35.1 million, while OEM tape automation and related service revenue was down about $6 million to $9.5 million.
- Devices and media revenue was $10.9 million, a decline of about $7 million.
- The GAAP net loss was $10.8 million, or $0.04 per diluted share, contrast to a net loss of $4.3 million, or $0.02 per diluted share.
- The non-GAAP net loss was $7.0 million, or $0.03 per diluted share, contrast to net income of $2.4 million, or $0.01 per diluted share.
Quantum Corporation provides scale-out storage, archive, and data protection solutions for small businesses to major enterprises in the Americas, Europe, and the Asia Pacific. Its scale-out storage portfolio comprises StorNext software, appliances and full systems called StorNext Pro Solutions, in addition to Lattus extended online storage and Q-Cloud Archive services.
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