On Wednesday, SouFun Holdings Ltd (NYSE:SFUN)’s shares declined -3.28% to $7.95.
SouFun Holdings Ltd (SFUN) declared its unaudited financial results for the three months ended March 31, 2015.
First Quarter 2015 Highlights
- TotalRevenue increased by 1.8% year-on-year to $123.5 million for the three months ended March 31, 2015. Revenue from e-commerce services increased by 75.2% year-on-year to $51.5 million for the three months ended March 31, 2015.
- Operating incomedecreased by 84.9% year-on-year to $7.5 million for the three months ended March 31, 2015. Non-GAAP operating income decreased by 84.5% year-on-year to $7.9 million for the three months ended March 31, 2015. A description of the adjustments from GAAP to non-GAAP operating income is set forth below.
- Net income attributable to SouFun’sshareholders decreased by 85.3% year-on-year to $6.1 million for the three months ended March 31, 2015.
Fully diluted earnings per ADS decreased by 90.0% year-on-year to $0.01 for the three months ended March 31, 2015.
SouFun Holdings Limited operates a real estate Internet portal, and home furnishing and improvement Websites in the People’s Republic of China. The company offers marketing services on its Websites, primarily through advertisements to real estate developers in the marketing phase of new property developments, as well as to real estate agencies; and suppliers of home furnishing and improvement, and other home-related products and services.
Coach Inc (NYSE:COH)’s shares dropped -3.28% to $35.36.
Coach Inc (COH) declared that its Board of Directors has declared a quarterly cash dividend of $0.3375 per common share. The dividend is payable on June 29, 2015 to shareholders of record as of the close of business on June 5, 2015.
Coach, established in New York City in 1941, is a leading design house of modern luxury accessories and lifestyle collections with a rich heritage of pairing exceptional leathers and materials with innovative design. Coach is sold worldwide through Coach stores, select department stores and specialty stores, and through Coach’s website at www.coach.com. Coach’s common stock is traded on the New York Stock Exchange under the symbol COH and Coach’s Hong Kong Depositary Receipts are traded on The Stock Exchange of Hong Kong Limited under the symbol 6388.
Coach, Inc. provides luxury accessories and lifestyle collections for women and men in the United States and internationally. It offers handbags, money pieces, wristlets, rings, charms, and cosmetic cases for women; and business cases, computer bags, messenger-style bags, totes, wallets, card cases, and belts, as well as time management and electronic accessories for men.
At the end of Wednesday’s trade, Servicemaster Global Holdings Inc (NYSE:SERV)‘s shares dipped -3.18% to $34.35.
Servicemaster Global Holdings Inc (SERV) declared the pricing of a secondary offering of 20,000,000 shares of its common stock by certain stockholders of the Company, counting investment funds sponsored by, or associated with, Clayton, Dubilier & Rice, LLC, at a public offering price of $34.00. In connection with the offering, the selling stockholders have granted the underwriters an option to purchase up to 3,000,000 additional shares of common stock. The Company will not receive any proceeds from the secondary offering. The secondary offering will be made only by means of a prospectus.
The offering is being made through an underwriting group led by J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. LLC, who are acting as joint book-running managers and as representatives of the underwriters for the offering. Additional book-running managers are BofA Merrill Lynch, Jefferies LLC, Natixis Securities Americas LLC and RBC Capital Markets, LLC. Robert W. Baird & Co. Incorporated, Piper Jaffray & Co. and Samuel A. Ramirez & Company, Inc. are acting as co-managers for the offering.
ServiceMaster Global Holdings, Inc. provides residential and commercial services in the United States. It operates in three segments: Terminix, American Home Shield, and the Franchise Services Group. The Terminix segment offers termite and pest control services, counting termite remediation, annual termite inspection and prevention treatments with damage claim guarantees, periodic pest control services, insulation services, mosquito control, crawlspace encapsulation, and wildlife exclusion.
Penn West Petroleum Ltd (USA) (NYSE:PWE), ended its Wednesday’s trading session with -2.96% loss, and closed at $1.97.
Penn West Petroleum Ltd (USA) (PWE) declared that it has finalized and reached definitive amending agreements with the lenders under its syndicated bank facility and the holders of its senior notes to, among other things, amend its financial covenants as initially revealed by the Company in its press release issued on March 12, 2015 announcing its year-end financial and operational results for 2014.
Since Penn West declared in March that it had reached agreements in principle with its lenders and noteholders, the Company has sold or reached agreements to sell assets for aggregate net proceeds of about $415 million , which comprises $318 million from its formerly declared royalty transactions which were accomplished in early May, and about $97 million from non-core asset dispositions which are predictable to be accomplished by the end of the second quarter of 2015. Following the terms of the amending agreements with its lenders and noteholders, in the event that Penn West completes any asset dispositions preceding to March 30, 2017 , it has committed to use the net proceeds from such asset dispositions to repay at par $650 million of the outstanding principal amounts owing to noteholders, with corresponding pro rata amounts from such asset dispositions to be used to repay any outstanding amounts drawn under its syndicated bank facility.
Penn West Petroleum Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. The company’s properties are located in Alberta, British Columbia, Saskatchewan, Manitoba, and the Northwest Territories, Canada; and Wyoming, the United States.
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