On Wednesday, in the course of current trade, Shares of Gevo, Inc. (NASDAQ:GEVO), gained 3.21%, and is now trading at $4.83.
Gevo, declared its financial results for the three months ended March 31, 2015, and offered an update on recent corporate highlights.
Luverne Update
Gevo’s plant in Luverne, Minn., continued to operate under the Side-by-Side (SBS) operating mode, providing the capability of producing both isobutanol and ethanol simultaneously. Isobutanol batches were successfully run in the quarter, in order to prove out several process improvements, in addition to to support due diligence efforts by potential licensees. The projected economics of full-scale isobutanol production have been validated by third parties, with isobutanol EBITDA margins on an optimized basis estimated to be $0.50 to $1.00 per gallon.
Overall revenues at the plant were down for the first quarter of 2015, as contrast to the fourth quarter of 2014, due to a combination of 1) lower ethanol prices and 2) lower overall ethanol and isobutanol production. Gevo took advantage of weaker ethanol margins in the quarter to take the plant down for various maintenance initiatives, which resulted in an overall decrease in alcohol gallons produced in the quarter.
Gevo, Inc., a renewable chemicals and biofuels company, focuses on the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. The company operates in two segments, Gevo, Inc.; and Gevo Development/Agri-Energy.
During an Afternoon trade, Shares of Energy XXI Ltd. (NASDAQ:EXXI), gained 0.79%, and is now trading at $3.84.
Energy XXI, declared its Board of Directors declared a quarterly dividend of $0.01 per share of common stock. The dividend is to be paid on June 12, 2015 to shareholders of record on May 29, 2015. As of May 5, 2015, the company had 94,434,156 shares of common stock outstanding. The Board of Directors will determine future dividends for Energy XXI common stock on a quarterly basis, with the amount dependent upon earnings, financial condition, capital requirements and other factors.
Energy XXI (Bermuda) Limited is engaged in the acquisition, exploration, development, production, and operation of oil and natural gas properties onshore in Louisiana and Texas, and on the Gulf of Mexico. As of June 30, 2014, the company had proved reserves of 246.2 million barrels of oil equivalent.
Shares of Edison International (NYSE:EIX), during its Wednesday’s current trading session fell -0.96%, and is now trading at $58.95.
Edison International, to present at the Sanford C. Bernstein & Co. 31st Annual Planned Decisions Conference 2015, on Wednesday, May 27, 2015, at 2:00 p.m. – 2:50 p.m. (Eastern Daylight Time).
Edison International, through its auxiliaries, generates and supplies electricity. The company generates electricity through hydroelectric, diesel, natural gas, nuclear, and photovoltaic sources. It supplies electricity primarily to commercial, residential, agricultural and other, industrial, and public authorities through transmission and distribution networks.
Finally, Eli Lilly and Company (NYSE:LLY), gained 0.52% Wednesday.
Eli Lilly and Company, declared that it has commenced a cash tender offer for up to $1.6 billion aggregate principal amount of specified series of its outstanding debt. Following the tender offer, Lilly is offering to purchase, under certain conditions and subject to certain limitations, its 5.55% Notes due 2037, 4.650% Notes due 2044, 5.950% Notes due 2037, 5.50% Notes due 2027, 6.77% Notes due 2036, 7.125% Notes due 2025 and 5.20% Notes due 2017.
The early tender date is 5:00 p.m., New York City time, on May 27, 2015, unless extended. The expiration date of the tender offer is 11:59 p.m., New York City time, on June 10, 2015, unless extended or earlier terminated. The terms, conditions and limitations of the tender offer are described in the Offer to Purchase dated recently.
Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products worldwide. It operates in two segments, Human Pharmaceutical Products and Animal Health products. The company offers endocrinology products to treat diabetes; osteoporosis in postmenopausal women and men; human growth hormone deficiency and pediatric growth conditions; and testosterone deficiency.
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