On Thursday, in the course of current trade, Shares of Crown Castle International Corp (NYSE:CCI), dropped -1.25%, and is now trading at $83.53.
Today, Crown Castle declared that it has reached a definitive agreement to acquire Quanta Fiber Networks, Inc. for about $1.0 billion in cash (subject to certain limited adjustments). Sunesys, a wholly owned partner of Quanta Services, Inc. (PWR), is a fiber services provider that owns or has rights to nearly 10,000 miles of fiber in major metropolitan markets across the United States, counting Los Angeles, Philadelphia, Chicago, Atlanta, Silicon Valley, and northern New Jersey, with about 60% of Sunesys’ fiber miles located in the top 10 basic trading areas.
The acquisition of Sunesys is predictable to further strengthen Crown Castle’s leading position in small cell networks by more than doubling Crown Castle’s fiber footprint accessible for small cell deployments and expanding Crown Castle’s presence in many of the top U.S. metropolitan markets. Small cells represent a network of antennas, or nodes, connected by fiber and designed to facilitate wireless communications services for multiple operators that are focused on augmenting their network capacity. Recently, Crown Castle owns or has rights to about 7,000 miles of fiber supporting about 14,000 nodes, which contribute 7% to each of Crown Castle’s site rental revenues and site rental gross margin. Pro forma for the projected acquisition, Crown Castle will own or have rights to more than 16,000 miles of fiber.
Crown Castle anticipates the acquisition to close by the end of 2015 and to be right away accretive to Adjusted Funds from Operations (“AFFO”) per share upon closing. The transaction is predictable to contribute about $80 to $85 million to gross margin with about $20 million of general and administrative expenses in the first year of Crown Castle’s ownership.
Crown Castle provides wireless carriers with the infrastructure they need to keep people connected and businesses running. With about 40,000 towers and 14,000 small cell nodes supported by about 7,000 miles of fiber, Crown Castle is the nation’s largest provider of shared wireless infrastructure with a noteworthy presence in the top 100 U.S. markets.
During an Afternoon trade, Shares of CME Group Inc. (NASDAQ:CME), gained 2.37%, and is now trading at $91.31.
Today, CME Group, stated revenues of $843 million and operating income of $507 million for the first quarter of 2015. Net income attributable to CME Group was $330 million. GAAP and adjusted diluted earnings per share were $0.981.
First-quarter 2015 average daily volume was 15.0 million contracts, up 10 percent from first-quarter 2014, representing the second-highest quarterly volume, and comprised of average daily volume records in energy and options. Clearing and transaction fee revenues were $708.2 million, up 9 percent contrast with first-quarter 2014. Market data revenue was $98 million, up 10 percent. First-quarter 2015 total average rate per contract was 75.3 cents, up from 73.1 cents in fourth-quarter 2014, driven primarily by a higher proportion of total volume coming from commodities products, which have higher average fees.
As of March 31, 2015, the company had $1.8 billion of cash and marketable securities and $2.9 billion of long-term debt. In January, we paid out $671 million in our variable dividend of $2 per share. In March, we paid out $168 million in our regular quarterly dividend of 50 cents per share.
CME Group Inc., through its auxiliaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products for trading and/or clearing across various asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals.
Shares of Sanofi (NYSE:SNY), during its Thursday’s current trading session fell -0.78%, and is now trading at $50.81.
Today, Sanofi delivered Q1 2015 Business EPS Growth of 2.6% at CER and 12.8% on a Stated Basis.
Solid financial performance
- Business net income grew 1.6% at CER (up 11.6% on a stated basis) to €1,726 million despite launch investments and U.S. Lantus® pricing impact
- Business EPS was up 2.6% at CER to €1.32 and raised 12.8% on a stated basis
- Noteworthy achievements with new product launches
- Toujeo® was launched in the U.S. and approved in EU
- Cerdelga® approved in Europe and in Japan
- Lemtrada® sales benefited from market introduction in the U.S.
- Dengue vaccine rolling submission initiated in 6 endemic countries in Asia and Latin America
- Results of ELIXA cardiovascular safety with lixisenatide support U.S. resubmission in Q3 2015.
Sanofi researches, develops, and markets various therapeutic solutions. Its products comprise diabetes solutions, counting Lantus, Apidra, and Insuman that are human insulin analogs; Amaryl, an oral sulfonylurea; Lyxumia, a glucagon-like peptide-1 receptor agonist; and Afrezza, an inhaled insulin to improve glycemic control, in addition to Toujeo, an insulin glargine.
Finally, Potash Corp. of Saskatchewan, Inc. (NYSE:POT), lost -2.24% Thursday.
Today, Potash Corporation, stated first-quarter earnings of $0.44 per share ($370 million), up from the $0.40 per share ($340 million) generated in 2014’s first quarter. Gross margin for the quarter of $667 million surpassed the $565 million total for the same period in 2014. Higher prices and lower per-tonne cost of goods sold in potash were the primary contributors, more than offsetting changes to Saskatchewan potash taxes and weaker nitrogen sales volumes.
Earnings before finance costs, income taxes, depreciation and amortization (EBITDA) of $731 million exceeded the total for 2014’s first quarter of $707 million, while cash from operating activities of $521 million during the first quarter was similar to the same period last year.
Income from our offshore investments contributed $33 million to our first-quarter earnings, well below the $100 million for the same period in 2014. This year’s total was comprised of equity earnings from Arab Potash Company (APC) and Sociedad Quimica y Minera de Chile S.A. (SQM), while 2014’s total comprised of contributions from these two companies in addition to a $69 million special dividend from Israel Chemicals Ltd. (ICL).
Potash Corporation of Saskatchewan Inc., together with its auxiliaries, produces and sells fertilizers and related industrial and feed products worldwide. The company operates in three segments: Potash, Nitrogen, and Phosphate. It mines and produces potash, which is primarily used as fertilizer.
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