On Thursday, Prologis Inc (NYSE:PLD)’s shares inclined 1.27% to $38.19.
Menlo Logistics (Menlo), the US$1.7 billion global logistics and supply chain administration partner of Con-way Inc. (CNW), recently declared a build-to-suit agreement with global industrial real estate developer Prologis, Inc. (PLD) for a new 70,000-square-meter regional logistics facility in Eindhoven, the Netherlands.
The facility will be located at the Acht industrial park in Eindhoven, adjacent to the A2/N2 Eindhoven ring road, which offers direct access to Belgium and Germany, in addition to Amsterdam to the north. It will be one of the largest build-to-suit projects in the region. The expansion spotlights Menlo’s commitment to investing in the expanding market for high-value warehousing, distribution and fulfillment services in the Benelux region, and its growing prominence as a planned logistics hub for central Europe.
Prologis Inc. is an independent equity real estate investment trust. It invests in the real estate markets across the globe. The firm engages in the ownership, development, administration, and leasing of industrial distribution and retail properties.
FedEx Corporation (NYSE:FDX)’s shares dropped -0.09% to $149.49.
FedEx Corp. (FDX) stated earnings of $2.42 per diluted share for the first quarter ended August 31, contrast to adjusted earnings of $2.12 per diluted share a year ago. Without adjustment, FedEx earned $2.26 per diluted share last year.
First Quarter Results
Operating results rose contrast to last year due to sharply raised operating income at FedEx Express, the benefit from one additional operating day at each of the company’s transportation segments and the continued positive impacts from the company’s profit improvement program. These benefits were partially offset by higher incentive compensation accruals, higher self-insurance reserves and operating costs at FedEx Ground, and lower-than-anticipated volume at FedEx Freight. Fuel had a slightly negative net impact to operating income. Costs related to the pending acquisition of TNT Express were immaterial during the quarter.
Outlook
FedEx now projects adjusted earnings for fiscal 2016 to be $10.40 to $10.90 per diluted share before year-end mark-to-market pension accounting adjustments, aided by benefits from the profit improvement program. The outlook assumes moderate economic growth and does not comprise any operating results or costs related to TNT Express. The capital spending forecast for the fiscal year remains $4.6 billion.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; international trade advisory services, such as assistance with the customs-trade partnership against terrorism program; and customs clearance services, in addition to global trade data, an information tool that allows customers to track and manage imports.
At the end of Thursday’s trade, NextEra Energy Inc (NYSE:NEE)‘s shares surged 1.22% to $98.70.
NextEra Energy Partners, LP (NEP) declared the pricing of an underwritten public offering of 8,000,000 common units representing limited partner interests in NextEra Energy Partners at a price of $26.00 per common unit. The underwriters have a 30-day option to purchase up to an additional 1,200,000 common units from NextEra Energy Partners on the same terms.
The public offering is predictable to close on Sept. 16, 2015, subject to customary closing conditions. Gross proceeds to NextEra Energy Partners from the sale of 8,000,000 common units will be about $208 million. NextEra Energy Partners intends to use the net proceeds of the public offering to repay amounts owed under a $313 million term loan (the “Term Loan”).
A partner of NextEra Energy, Inc. (NEE) has agreed to purchase directly from NextEra Energy Operating Partners, LP $702 million of its common units at the offering price paid by purchasers in the public offering (the “Private Placement”). NextEra Energy Operating Partners, LP intends to use the proceeds of the Private Placement to repay the amounts remaining under the Term Loan after application of the proceeds of the public offering, and intends to use the balance of the proceeds from the Private Placement to finance a portion of the NET Midstream acquisition and for general partnership purposes.
NextEra Energy, Inc., through its auxiliaries, generates, transmits, and distributes electric energy in the United States and Canada. The company generates electricity from gas, oil, solar, coal, petroleum coke, nuclear, and wind sources. As of December 31, 2014, it served about 9 million people through about 4.7 million customer accounts in the east and lower west coasts of Florida.
Hovnanian Enterprises, Inc. (NYSE:HOV), ended its Thursday’s trading session with 5.70% gain, and closed at $2.04.
Hovnanian Enterprises, Inc. (HOV), a leading national homebuilder, stated results for its fiscal third quarter and nine months ended July 31, 2015.
RESULTS FOR THE THREE AND NINE MONTH PERIODS ENDED JULY 31, 2015:
- Total revenues were $540.6 million in the third quarter of fiscal 2015, a decrease of 1.9% contrast with $551.0 million in the third quarter of fiscal 2014. For the nine months ended July 31, 2015, total revenues raised 7.4% to $1.46 billion contrast with $1.36 billion in the first nine months of the preceding year.
- Homebuilding gross margin percentage, before interest expense and land charges comprised of in cost of sales, was 17.8% for the third quarter ended July 31, 2015, contrast with 21.3% in last year’s third quarter, and was 16.1% for the second quarter of fiscal 2015. During the first nine months of fiscal 2015, homebuilding gross margin percentage, before interest expense and land charges comprised of in cost of sales, was 17.4% contrast with 20.2% in the same period of the previous year.
- Net loss was $7.7 million, or $0.05 per common share, for the third quarter of fiscal 2015, contrast with net income $17.1 million, or $0.11 per common share, in the third quarter of the previous year. For the nine months ended July 31, 2015, the net loss was $41.6 million, or $0.28 per common share, contrast with a net loss of $15.3 million, or $0.10 per common share, in the first nine months of fiscal 2014.
- The pre-tax loss, not taking into account land-related charges and loss on extinguishment of debt, in the third quarter of fiscal 2015 was $8.9 million contrast with net income of $16.1 million in the preceding year’s third quarter. For the first nine months of fiscal 2015, the pre-tax loss, not taking into account land-related charges and loss on extinguishment of debt, was $51.5 million contrast with a loss of $12.7 million during the first nine months of fiscal 2014.
Hovnanian Enterprises, Inc. designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active adult homes.
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