On Thursday, Shares of General Electric Company (NYSE:GE), lost -0.53% to $26.12.
The powersports industry, which comprises motorcycles, all-terrain vehicles (ATV), utility-terrain vehicles (UTVs), snowmobiles, and personal watercraft, is robust and continues to grow according to dealer performance data from Commercial Distribution Finance (CDF), a division of GE Capital.
CDF dealer financing volume is up 12% through June, indicating dealers are ordering more product to meet increasing consumer demand. Dealer inventory turnover is running at a strong annual rate of over 2X, and aged inventory over 18 months old, is also healthy at under 6% of total portfolio.
“Industry growth is coming from a steadily improving economy and from innovative product offerings from our manufacturing partners, attracting new riders,” said Jeremy Jansen, president of CDF’s motorsports group. “Also, dealers are doing a great job of balancing the right amount of inventory for the enhance in demand.”
Jansen was named president of CDF motorsports in May and has been with GE Capital since 1999.
General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
Shares of SandRidge Energy, Inc. (NYSE:SD), declined -11.47% to $0.56, during its last trading session, as oil prices slipped Thursday, erasing early gains as the dollar strengthened.
Light, sweet crude for September delivery settled down 27 cents, or 0.6%, at $48.52 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 7 cents, or 0.1%, to $53.31 a barrel on ICE Futures Europe. WSJ Reports
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
Finally, Arch Coal Inc. (NYSE:ACI), ended its last trade with 8.61% gain, and closed at $0.19.
Arch Coal, stated a net loss of $168 million, or $0.79 per diluted share, for the quarter ending June 30, 2015. The company recorded a $19.1 million impairment charge during the quarter and incurred $4.0 million of expenses related to its exchange transaction. Not taking into account asset impairments, expenses related to debt restructuring and amortization of sales contracts, Arch’s second quarter 2015 adjusted net loss was $0.73 per diluted share contrast with an adjusted net loss of $0.46 per diluted share in the preceding-year quarter. Revenues totaled $644 million in the second quarter of 2015, and adjusted earnings before interest, taxes, depreciation, depletion and amortization (“EBITDA”) was $45 million.
For the first half of 2015, Arch generated adjusted EBITDA of $127 million contrast with $93 million in the preceding-year period. Total revenues declined to $1.3 billion for the six months ended June 30, 2015, largely due to lower metallurgical coal prices and output as compared to the preceding-year period.
Arch Coal, Inc. produces and sells thermal and metallurgical coal from surface and underground mines located in the United States. As of December 31, 2014, it operated or contracted out the operation of 16 mines; and owned or controlled about 5.1 billion tons of proven and probable recoverable reserves.
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