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Saturday 15 August 2015
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Pre-Market News Alert on: Torchmark (NYSE:TMK), Chegg (NYSE:CHGG), EXCO Resources (NYSE:XCO), Carrizo Oil & Gas, (NASDAQ:CRZO)

On Thursday, Torchmark Corporation (NYSE:TMK)’s shares declined -0.43% to $62.20.

Liberty National Life Insurance Company, headquartered in McKinney, TX, in partnership with Agency Owner Vickie Ketron, donated $5,000 to benefit The Oasis of Kingsport. As part of the Company’s Closer to the Heart charitable giving program, Liberty National gave $5,000 to support services offered to women who find themselves in times of trouble, difficult times, or in desperate situations.

Vickie Ketron, Agency Owner of the Vickie Ketron Agency representing Liberty National in Knoxville, TN, presented the group’s donations to Lezley Mullins, Executive Director. “Liberty National believes wholeheartedly in giving back to the communities where we live, work, and visit. We are proud to support the uplifting and important services and programs offered by The Oasis to struggling women in the Kingsport community,” said Ketron.

The Oasis of Kingsport is a Christian based not for profit organization dedicated to serving struggling and underserved women in the local community. Through various services ranging from laundry services and free showers to job search/ongoing education assistance and a health resource center, The Oasis staff and volunteers provide not only tangible everyday necessities vital to daily life, but a place for spiritual and emotional support and healing.

Torchmark Corporation, through its auxiliaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand. It operates through Life Insurance, Health Insurance, Medicare Part D, and Annuities segments. The Life Insurance segment offers life insurance products, counting traditional and interest-sensitive whole life and term life insurance. The Health Insurance segment provides health insurance products comprising Medicare Supplement, cancer, accident, long-term care, and limited-benefit hospital and surgical insurance products

Chegg Inc (NYSE:CHGG)’s shares dropped -0.59% to $8.49.

Chegg Inc (CHGG) declared a partnership to create a groundbreaking nationwide tracking survey of career outcomes for recent college graduates. The Outcomes Survey®, which CSO Research presently conducts on behalf of more than 120 schools, provides rich insights on how recent grads fare right away after commencement and at three, six and 12 months after finishing their studies at specific schools. In partnership with Chegg, The Outcomes Survey will now be expanded into a national study of more than 200,000 members of the class of 2015.

Return on investment in college has been questioned as students are finding themselves unemployed1, underemployed2 or in a job outside their chosen field3. Further, 50% of recent graduates do not feel that college prepared them well for employment, and only 39% of hiring managers felt recent graduates was prepared for employment in their field of study4. Outcomes data can be important to students and parents in deciding where to attend college as more than half of recent grads would pick a different major or school if they could make their college choices over again5.

Chegg, Inc. operates student-first connected learning platform that empowers students to take control of their education to save time, save money, and get smarter. The company, through its Student Hub, rents and sells print textbooks; and provides eTextbooks, supplemental materials, Chegg Study service, textbook buyback, courses, internships, and college admissions and scholarship services, in addition to offers enrollment marketing and brand advertising services. Chegg, Inc. has a planned alliance with Ingram Content Group Inc.

At the end of Thursday’s trade, EXCO Resources Inc (NYSE:XCO)‘s shares dipped -9.83% to $0.568.

EXCO Resources, Inc. ( XCO ) declared operating and financial results for the second quarter 2015.

2015 Second Quarter Highlights

  • Drilled 9 gross (4.4 net) and turned-to-sales 22 gross (5.7 net) operated horizontal wells in the second quarter 2015, comprising with the capital budget.
  • Produced 361 Mmcfe per day, or 33 Bcfe, for the second quarter 2015, which exceeded the midpoint of guidance. Production raised 22 Mmcfe per day from the first quarter 2015.
  • Adjusted EBITDA, a non-GAAP measure, was $69 million for the second quarter 2015, 19% above adjusted EBITDA for the first quarter 2015, primarily due to higher production as well as lower operating and general and administrative costs.
  • Cost saving initiatives resulted in general and administrative costs and gathering and transportation costs that were 7% and 6%, respectively, below the low-end of guidance, in addition to operating costs within guidance. Reduced drilling and completion costs through negotiations with key vendors.

EXCO Resources, Inc., an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of onshore oil and natural gas properties with a focus on shale resource plays in the United States. The company holds interests in about 85,300 net acres located in the Haynesville and Bossier shales of East Texas and North Louisiana; about 52,900 net acres located in the Eagle Ford shale of South Texas; and about 157,000 net acres of prospective area located in the Marcellus shale of the Appalachian basin.

Carrizo Oil & Gas, Inc. (NASDAQ:CRZO), ended its Thursday’s trading session with -4.51% loss, and closed at $35.14.

Carrizo Oil & Gas, Inc. (CRZO) declared the Company’s financial results for the second quarter of 2015 and offered an operational update, which comprised of the following highlights:

  • Record Oil Production of 22,284 Bbls/d, 21% above the second quarter of 2014
  • Total Production of 36,118 Boe/d, 8% above the second quarter of 2014
  • Loss From Ongoing Operations of $47.0 million, or ($0.92) per diluted share, and Adjusted Net Income (as defined below) of $20.4 million, or $0.39 per diluted share
  • Adjusted EBITDA (as defined below) of $127.5 million
  • Raising 2015 crude oil production growth target to 19%

Carrizo stated a second quarter of 2015 loss from ongoing operations of $47.0 million, or ($0.92) per basic and diluted share contrast to income from ongoing operations of $3.2 million, or $0.07 per basic and diluted share in the second quarter of 2014. The loss from ongoing operations for the second quarter of 2015 comprises certain items typically excluded from published estimates by the investment community. Adjusted net income, which excludes the impact of these items as described in the statements of operations comprised of below, for the second quarter of 2015 was $20.4 million, or $0.40 and $0.39 per basic and diluted share, respectively, contrast to $32.4 million, or $0.72 and $0.70 per basic and diluted share, respectively, in the second quarter of 2014.

Carrizo Oil & Gas, Inc., together with its auxiliaries, engages in the exploration, development, and production of oil and gas primarily in the United States. The company holds interests in crude oil plays and projects, counting Eagle Ford Shale in Texas; the Niobrara Formation located in Colorado; the Utica Shale in Ohio; and the Marcellus Shale located in Pennsylvania. As of December 31, 2014, it had proved crude oil and NGL reserves of 114.2 million barrels of oil equivalent; proved natural gas reserves of 221.0 billion cubic feet; and operated 388 gross productive oil and gas wells.

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