On Monday, Shares of Twenty-First Century Fox, Inc. (NASDAQ:FOXA), showed no change to $32.79.
FOX Business Network (FBN) will launch a new markets-oriented lineup starting on Monday, June 1st, declared Roger Ailes, Chairman and CEO of FOX News Channel (FNC) and FBN. The latest plan comprises the expansion of business news in the morning with a new 5 AM/ET show, followed by Maria Bartiromo anchoring the 6-9 AM/ET timeslot in place of the current Imus simulcast. Neil Cavuto will also unveil a new two hour daytime program and Trish Regan will make her network debut.
In making the declaration, Ailes said, “With a reengineered lineup and a 5 AM start time, we’re providing non-stop financial news with unparalleled market coverage and analysis. Replacing Imus with a business news morning show anchored by Maria Bartiromo and adding Neil Cavuto to two hours in daytime enables FBN to have tremendous depth. We’re also happy to welcome Trish Regan and her fresh take on economic trends which will complement our coverage.”
Starting at 5 AM/ET June 1st, FBN AM will kick off the network’s live business coverage of the day focusing on international market updates and overseas headlines. Anchor and Global Markets Editor Maria Bartiromo will take over the Imus simulcast spot at 6 AM/ET helming a three hour financial news program entitled Morning Money with Maria Bartiromo (6-9 AM/ET). The new show will feature insight from titans in the world of finance.
Twenty-First Century Fox, Inc. operates as a diversified media and entertainment company worldwide. It operates through Cable Network Programming, Television, Filmed Entertainment, and Direct Broadcast Satellite Television segments. The Cable Network Programming segment produces and licenses news, business news, sports, general entertainment, and movie programming for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors in the United States, Latin America, Europe, and Asia.
Shares of Wayfair Inc. (NYSE:W), declined -2.50% to $30.01, during its last trading session.
Wayfair, stated financial results for its first quarter ended March 31, 2015.
First Quarter 2015 Financial Highlights
- Total net revenue raised to $424.4 million, up 52.3% year over year
- Direct Retail revenue, comprising of sales generated primarily through the sites of Wayfair’s five brands, raised to $369.4 million, up 63.4 % year over year
- Gross profit was $102.8 million or 24.2% of total net revenue, contrast to 23.4% of total net revenue in the same quarter last year
- Adjusted EBITDA was $(12.3) million or (2.9)% of total net revenue
- GAAP net loss was $27.1 million
- GAAP basic and diluted net loss per share was $0.33
- Non-GAAP diluted net loss per share was $0.23
- Non-GAAP free cash flow was $(51.4) million
- At the end of the First Quarter, cash, cash equivalents, and short-term and long-term investments totaled $359.6 million.
Wayfair Inc. engages in the e-commerce business in the United States. It offers about seven million home products under various brands. The company’s brands comprise Wayfair.com that focuses on offering home furnishings and décor from low-to high-end and across various styles; Joss & Main, an online flash sales site; AllModern, an online destination for original design for modern home enthusiasts; DwellStudio, an online design studio for modern, fashion-forward home furnishings; and Birch Lane, a destination for classic style home designs.
At the end of Monday’s trade, Shares of Actavis plc (NYSE:ACT), gained 3.05% to $301.74.
Actavis, stated continued exceptional performance with net revenue increasing 59 percent to $4.23 billion for the quarter ended March 31, 2015, contrast to $2.66 billion in the first quarter 2014. On a non-GAAP basis, diluted earnings per share raised 23 percent to $4.30 for the first quarter 2015, contrast to $3.49 in the first quarter 2014. Non-GAAP earnings per share not taking into account Allergan and financing (shares and interest expense) related to Allergan was $4.59, representing 17 percent sequential improvement. GAAP loss per share for the first quarter 2015 was $1.85, contrast to GAAP income per diluted share of $0.55 in the preceding year period. GAAP results were influenced by amortization and acquisition-related expenses, counting impairments, acquisition accounting valuation related expenses and severance associated with attained businesses, mainly the acquisitions of Allergan on March 17, 2015 and Forest Laboratories on July 1, 2014.
For the first quarter 2015, adjusted EBITDA raised 107 percent to $1.78 billion, contrast to $860 million for the first quarter 2014. Cash flow from operations for the first quarter of 2015 was $525 million and cash and marketable securities were $2.13 billion as of March 31, 2015. As part of the Allergan acquisition, the company incurred additional indebtedness. As of March 31, 2015, the Company had outstanding indebtedness of $44.3 billion.
First quarter 2015 results for Actavis plc comprise the contribution from Allergan businesses for the period following the close on March 17, 2015. Refer to the attached reconciliation tables for adjustments to GAAP earnings.
Actavis plc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes generic, branded generic, branded, biosimilar, and over-the-counter (OTC) pharmaceutical products. It operates in three segments: North American Brands, North American Generics and International, and Anda Distribution.
Finally, PPL Corporation (NYSE:PPL), ended its last trade with -0.44% loss, and closed at $33.75.
PPL Corporation, energized the Susquehanna-Roseland transmission line Monday (5/11), concluding a major upgrade to the nation’s electric grid.
The new 500-kilovolt power line will make electric service more reliable for millions of people in the Northeast. The three-year construction project created noteworthy economic benefits in Pennsylvania and New Jersey, counting 2,000 construction jobs. It also enables savings for electric customers by reducing transmission congestion charges.
“Building a major transmission line takes expertise in construction and project administration, but it also involves knowing how to seek and incorporate public input, how to work cooperatively with multiple permitting agencies, and how to minimize impacts on people and the environment,” said Stephanie Raymond, PPL’s vice president-Transmission and Substations. “Susquehanna-Roseland will serve as the model as we plan future transmission projects to benefit consumers.”
The PJM Interconnection, the regional grid operator, determined that Susquehanna-Roseland was needed to improve reliability by relieving congestion on other regional transmission lines. PPL built the 101-mile Pennsylvania portion and Public Service Electric and Gas Company constructed the 45 miles in New Jersey. The two companies partnered to build a four-mile segment through National Park Service lands on the border of the two states.
PPL Corporation, an energy and utility holding company, generates, transmits, distributes, and sells electricity to wholesale and retail customers in the United States and the United Kingdom. It operates in four segments: U.K. Regulated; Kentucky Regulated; Pennsylvania Regulated; and Supply. The company generates electricity through nuclear, oil/gas, coal, hydro, and renewable sources.
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