Breaking NEWS: Navistar International Corp. ’s shares clambered 4.6% after it said cost-cutting initiatives and lifted demand for its medium trucks and school buses assisted the corporation narrow its loss in the January quarter.
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Cumulus Media Inc. (NASDAQ:CMLS)’s shares dropped -15.34%, and is now trading at $3.40, soon after the news release that Cumulus Media Inc., declared operating results for the three months and year ended December 31, 2014.
Results for Fourth Quarter 2014:
Net proceed comprises of gross proceed less agency commissions and other direct costs. Agency commissions are variable as they are based upon a stated percentage of the Corporation’s gross billings.
On an actual basis, net proceed for the three months ended December 31, 2014 raised $53.8 million, or 19.5%, to $329.2 million, contrast to $275.5 million for the three months ended December 31, 2013. The raise resulted from raises of $31.6 million, $10.8 million, $9.1 million and $2.2 million in broadcast advertising, digital advertising, political advertising and license fees and other proceed, respectively. The broadcast advertising raise was primarily attributable to the addition of the operations of WestwoodOne, which was attained on December 12, 2013, and several new stations being operated under local marketing contracts (“LMAs”) in Chicago and San Jose, CA. The raises were partially offset by decreases in local spot and national spot proceed. The raise in digital advertising was primarily due to raised Rdio user generation activity and digital commerce generated by our Sweetjack platform. The raise in political advertising proceed was due to additional activity associated with mid-term and gubernatorial elections in 2014, the even numbered year for elections.
On a pro forma basis, net proceed for the three months ended December 31, 2014 raised $1.0 million, or 0.3%, to $329.2 million, contrast to $328.3 million for the three months ended December 31, 2013. The raise resulted from a decrease of $21.4 million in broadcast advertising and raises of $10.3 million, $9.2 million and $2.9 million in digital advertising, political advertising and license fees and other proceed, respectively. The raise in digital advertising proceed was primarily due to raised Rdio user generation activity. Political advertising raised due to additional activity associated with mid-term and gubernatorial elections in 2014, the even numbered year for elections.
Cumulus Media Inc. (NASDAQ:CMLS) owns and operates commercial radio station clusters in the United States. It sells local, regional, and national advertising for broadcast on its radio stations. As of February 27, 2014, the company’s audio content was distributed through about 460 owned operated stations in 89 United States media markets; about 10,000 broadcast radio associates; and through various digital channels, counting a national streaming/mobile platform and partnership with digital audio provider. Cumulus Media Inc. was founded in 1997 and is headquartered in Atlanta, Georgia.
Alcoa Inc. (NYSE:AA), raised 1.44%, and is now trading at $15.17, soon after Lightweight, high-performance metals leader Alcoa (AA) recently declared that it has accomplished the attainment of privately held TITAL. Alcoa closed the transaction, which was declared on December 15, 2014, after receiving all of the required global regulatory approvals.
TITAL is a leading manufacturer of titanium and aluminum structural castings for aircraft engines and airframes. This attainment strengthens Alcoa’s ability to capture growing demand for advanced aircraft engine components, in particular, those made of titanium. TITAL establishes titanium casting capabilities in Europe for Alcoa, and expands the Corporation’s aluminum casting capacity. Additionally, TITAL’s strong connections to European engine and aircraft manufacturers such as Airbus, SNECMA, and Rolls-Royce, will enhance Alcoa’s customer relationships in the region and beyond.
“We are combining two leading, innovation-driven businesses to continue increasing Alcoa’s highly differentiated content on the world’s best-selling airplanes and jet engines,” said Olivier Jarrault, Executive Vice President and Alcoa Group President, Engineered Products and Solutions. “This transaction supports our strategy of creating a more profitable future by growing our value-add businesses. Through these efforts, Alcoa will continue delivering greater sustainable value for our customers, employees and shareholders.”
With TITAL, Alcoa is well positioned to capitalize on strong demand growth in the commercial aerospace sector. Alcoa sees a current 8-year production order book at 2014 delivery rates. Almost 70 percent of TITAL’s proceeds are predictable to come from commercial aerospace sales in 2019. Further, its titanium proceeds are predictable to raise by 70 percent over the next five years as manufacturers of next-generation jet engines look to titanium solutions for engine structural components. In 2014, TITAL generated proceeds of about €77 million (about US$100 million), more than half of which came from titanium products.
Alcoa is implementing a robust integration plan to support TITAL’s growth and to further improve productivity, primarily driven by procurement, internal metal supply, manufacturing optimization and leveraging Alcoa’s global shared services. TITAL’s business is being integrated into Alcoa’s Engineered Products and Solutions (EPS) segment.
Alcoa Inc. (NYSE:AA) produces and manages primary aluminum, fabricated aluminum, and alumina worldwide. The company operates through four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions.
JPMorgan Chase & Co. (NYSE:JPM), enhanced 0.05%, and is now trading at $ 61.80, hitting new 52-week high of $ 63.49, soon after the news release that JPMorgan Chase & Co. declared that JPMorgan Chase Capital XXIX will redeem all of the issued and outstanding $1,500,000,000 aggregate liquidation amount of its 6.70% Capital Securities, Series CC (CUSIP 48125E207; NYSE: JPM-PrC) on April 2, 2015 following the optional redemption provisions offered in the documents governing such Trust Preferred Securities. The redemption price will be 100% of the liquidation amount of each Trust Preferred Security, together with accrued and unpaid distributions to the redemption date. The redemption will be funded with accessible cash.
JPMorgan Chase & Co. (NYSE:JPM) a financial holding company, provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
Nanosphere, Inc. (NASDAQ:NSPH) dwindled -0.77%, and is now trading at $ 0.39, hitting new 52-week high of $ 2.62, soon after the news release that a corporation enhancing medicine through targeted molecular diagnostics, formerly on February 11, stated financial results for the fourth quarter and fiscal year ended December 31, 2014, and offered guidance for 2015.
As the Corporation formerly declared, Nanosphere achieved record proceeds for the fourth quarter and full year of 2014. Proceeds for the fourth quarter and full year 2014 were $4.6 million and $14.3 million, respectively, contrast to $3.4 million and $10.0 million in the fourth quarter and full year 2013. This 43% growth of year-over-year proceed growth was driven predominantly by U.S. based microbiology laboratories continued adoption of our blood culture BCGP and BCGN tests.
“As we noted in our preliminary release, we are happy to report continued growth in our core infectious disease consumable business,” said Michael McGarrity, Nanosphere’s president and chief executive officer. “In addition, we believe there is noteworthy leverage in our growing customer base which will enable us to achieve accelerated growth reflected in our 2015 guidance.”
For the fiscal year ending December 31, 2015, the Corporation presently anticipates to recognize between $18 million to $20 million in annual proceed.
Costs of sales raised to $8.5 million in 2014 from $6.4 million in 2013, driven by raised volume. Gross margins raised to 41% in 2014 from 36% in 2013. Sales, general and administrative expenses in 2014 raised to $21.8 million from $18.7 million as field sales and customer support teams were expanded. Research and development expenses raised to $21.7 million from $18.6 million in 2013 primarily due to additional clinical trials related to the FDA submission of the Enteric and RP flex assays.
Net loss for 2014 was $39.1 million, contrast with $34.6 million in 2013. Net loss for the fourth quarter of 2014 was $9.5 million contrast with $8.8 million for the same period in 2013.
McGarrity continued, “We continue to evaluate planned alternatives that will best allow us to advance our commercial and development initiatives to drive continued proceed growth and leadership position in the market. We are very excited about the progress made in the fourth quarter on our Next Generation Verigene system. This project will enhance our customer experience, advance our competitive position while utilizing our proven chemistry and we look forward to providing additional updates as we move through 2015.”
Cash at December 31, 2014 was $21.1 million in 2014 contrast to $41.5 million for the same period in 2013. Cash used in operations of $34.9 million for the year ended December 31, 2014 was up $0.9 million as contrast to $34.0 million at December 31, 2013 due to a slightly higher net operating loss.
Nanosphere, Inc. (NASDAQ:NSPH) develops, manufactures, and markets molecular diagnostic tests that can lead to earlier disease detection, optimal patient treatment, and improved healthcare economics.
