On Tuesday, BreitBurn Energy Partners L.P. (NASDAQ:BBEP)’s shares declined -1.93% to $2.54.
Breitburn Energy Partners LP (BBEP) declared financial and operating results for the second quarter 2015 and offered second half 2015 guidance.
Key Highlights
- Closed the $1 billion planned investment led by EIG Global Energy Partners on April 8th, resulting in about $500 million of current accessible liquidity.
- Stated total production of 5.0 MMBoe, in-line with Breitburn’s 2015 guidance.
- Raised Adjusted EBITDA, a non-GAAP financial measure, to $162.9 million (counting costs of $1.1 million for restructuring), a 48% enhance from the second quarter of 2014 and a 10% enhance from the first quarter of 2015.
- Reduced lease operating expenses to $18.72 per Boe in the second quarter of 2015, 6% lower than the first quarter of 2015 and 14% lower than the fourth quarter of 2014.
- Stated distributable cash flow of $58.5 million, or $0.27 per common unit, and distribution coverage ratio of 2.16x based on current monthly distribution of $0.04166 per common unit, or $0.50 per common unit on an annualized basis.
Breitburn Energy Partners LP, an independent oil and gas partnership, acquires, exploits, and develops oil, natural gas liquids (NGLs), and natural gas properties in the United States. The company’s oil, NGL, and natural gas reserves are primarily located in seven producing areas comprising the Arkansas, Louisiana, and East Texas; Michigan, Indiana, and Kentucky; Permian Basin in Texas and New Mexico; the Mid-Continent covering Oklahoma, Kansas, and the Texas Panhandle; Rockies in Wyoming; Florida and Alabama; and California.
Ericsson (ADR) (NASDAQ:ERIC)’s shares gained 0.58% to $10.48.
Ericsson (ERIC) is extending its long-term partnership with SoftBank Corp., one of Japan`s leading mobile operators, by adding joint field trials of 5G technology in Tokyo. The two companies will cooperate in developing a common understanding of 5G use cases and deployment scenarios, and will evaluate the performance of potential 5G key technology components in joint field trials in addition to collaborate on 5G research projects.
The joint field trial will demonstrate ultra-high bit rates and ultra-low latency with the Ericsson 5G trial system by using a number of frequency bands.
5G will evolve the entire future communication eco-system, from devices to mobile access, IP core and into the cloud. Ericsson`s latest 5G test network initiatives focus on the interactions between mobile devices and the radio access network, in both indoor and outdoor scenarios.
Ericsson provides communications technology and services worldwide. The company’s Networks segment delivers products and solutions for mobile access, Internet protocol (IP) and transmission networks, core networks, and cloud. This segment offers radio access solutions; IP routing and transport solutions; transmission/backhaul solutions comprising microwave and optical transmission solutions for mobile and fixed networks; IP multimedia subsystem solutions; and operations support systems, in addition to supports operators administration of existing networks.
At the end of Tuesday’s trade, Electronic Arts Inc. (NASDAQ:EA)‘s shares surged 0.20% to $73.85.
Electronic Arts Inc. (EA) launched EA SPORTS™ Rory McIlroy PGA TOUR® for Xbox One®, the all-in-one games and entertainment system from Microsoft and PlayStation®4 computer entertainment system. The power of Frostbite™ 3, in addition to customizable gameplay styles and numerous ways to play all combine to truly deliver Golf Without Limits.
Electronic Arts Inc. develops, markets, publishes, and distributes game software content and online services for video game consoles, Internet-connected consoles, personal computers, mobile phones, and tablets worldwide. The company operates through EA Studios, EA Mobile, and Maxis divisions. It develops and publishes digital interactive entertainment games primarily under the The Sims, Madden NFL, EA SPORTS FIFA, Battlefield, FIFA Soccer, Need for Speed, Dragon Age, and Plants vs. Zombies brand names.
Canadian Solar Inc. (NASDAQ:CSIQ), ended its Tuesday’s trading session with 1.90% gain, and closed at $24.69.
Canadian Solar Inc. (CSIQ), one of the world’s largest solar power companies, recently declared its financial results for the second quarter ended June 30, 2015.
Second Quarter 2015 Highlights
- Total solar module shipments were 850 MW, of which 809 MW were recognized in revenue, contrast to 1.03 GW recognized in revenue in the first quarter of 2015, and second quarter shipment guidance in the range of 950 MW to 1,000 MW.
- Net revenue was $636.7 million, contrast to $860.9 million in the first quarter of 2015 and second quarter guidance in the range of $570 million to $620 million.
- Net revenue from the total solutions business as a percentage of total net revenue was 30.6% contrast to 35.9% in the first quarter of 2015.
- Gross margin was 15.2%, contrast to 17.8% in the first quarter of 2015 and second quarter guidance in the range of 13.0% to 15.0%.
- Net income attributable to Canadian Solar was $17.9 million, or $0.31 per diluted share, contrast to $61.3 million, or $1.04 per diluted share, in the first quarter of 2015.
Canadian Solar Inc., together with its auxiliaries, designs, develops, manufactures, and sells solar wafers, cells, and solar power products worldwide. The company operates in two segments, Module and Energy. Its products comprise various solar modules that are used in residential, commercial, and industrial solar power generation systems. The company also provides specialty solar products comprising of Andes Solar Home System, an off-grid solar system, designed to provide an economical source of electricity to homes and communities without access to grid; and Maple Solar System, a clean energy solution for families, in addition to solar system kits, which are a ready-to-install packages, such as inverters, racking system, and other accessories.
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