On Monday, Royal Caribbean Cruises Ltd (NYSE:RCL)’s shares declined -8.00% to $72.71.
Royal Caribbean Cruises Ltd (RCL) stated stronger than predictable first quarter results and updated its outlook for the full year.
Commercially the year is turning out as predictable, with strong booking trends and yield growth for all major products. The strengthening of the US Dollar and the rise in fuel prices are negatively affecting earnings, but cost efficiencies are mitigating a large portion of the influence.
Results for the First Quarter 2015:
- Net Yields were down 1.0% on a Constant-Currency basis (down 5.4% As-Stated). Strong close-in pricing on Caribbean sailings drove the better than anticipated performance.
- Net Cruise Costs (“NCC”) not including fuel raised 0.9% on a Constant-Currency basis (down 1.7% As-Stated), significantly better than guidance driven by further efficiencies.
- Adjusted Net Income was $45.2 million, or $0.20 per share, as compared to a forecast of $0.10 to $0.15 per share. Currency and fuel negatively influenced the first quarter by $0.05.
Royal Caribbean Cruises, Ltd. operates as a cruise company. The company operates cruisers under the Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisières de France, and TUI Cruises brand names. The Royal Caribbean International brand provides cruise itineraries ranging from 2 to 18 nights with options for onboard dining, entertainment, and other onboard activities to various destinations.
Walter Energy, Inc. (NYSE:WLT)’s shares dropped -7.06% to $0.577.
Walter Energy, Inc. (WLT) said that it is working with its debtholders to establish a capital structure that will position the Company to weather a highly competitive and challenging market. In the context of these talk aboutions, the Company has elected to exercise the 30-day grace period under its indenture contracts with holders of its 9.5% Senior Secured Notes due in 2019 and the 8.5% Senior Notes due in 2021 to extend the timeframe for making the cash interest payments due recently.
The Company emphasized that this decision does not reflect a current liquidity issue, as it had about $435 million of cash and investments as of March 31, 2015. Walter Energy will continue to deliver high quality met coal to customers and meet its other obligations as it works with its debtholders to address the Company’s capital structure.
Walter Energy, Inc. produces and exports metallurgical coal for the steel industry. It operates through two segments, U.S. Operations, and Canadian and U.K. Operations.
At the end of Monday’s trade, ZBB Energy Corporation (NYSEMKT:ZBB)‘s shares dipped -5.66% to $1.00.
ZBB Energy Corporation (ZBB) declared its intention to enter into a supply contract with Solar Power, a vertically-integrated photovoltaic (“PV”) developer, for energy storage systems with total combined power output of 40 megawatts (MW) over a period of four years.
The value of the initial supply contract is estimated at $80 million to $120 million, depending on the mix of storage applications and installation requirements. This supply contract will be reached at the closing of a Securities Purchase Contract (SPA) between SPI and ZBB that was executed recently and is valued at $33.4 million, comprising of a combination of newly issued common stock and convertible preferred stock of ZBB. Under the terms of the SPA, SPI will purchase 8,000,000 shares of ZBB common stock for about $5.3 million at a price per share of $0.6678 and 28,048 shares of ZBB Series C Convertible Preferred Stock for about $28.0 million. The aggregate purchase price of the purchased preferred shares was determined based on a price of $0.6678 per common equivalent. The Purchased Preferred Shares are only convertible upon the completion of specific procurement milestones detailed in the Supply Contract. With this infusion of capital, ZBB will have in excess of $45 million of cash on its balance sheet.
ZBB Energy Corporation develops, licenses, manufactures, and sells distributed energy storage solutions based upon the proprietary zinc bromide rechargeable electrical energy storage technology and proprietary power electronics systems in the United States and internationally.
The Medicines Company (NASDAQ:MDCO), ended its Monday’s trading session with -5.64% loss, and closed at $27.44.
The Medicines Company (MDCO) declared that the U.S. Food and Drug Administration (FDA) has approved a supplemental new drug application (sNDA) for a new formulation of MINOCIN® (minocycline) for Injection.
The FDA has also granted Qualified Infectious Disease Product (QIDP) designation for the new formulation of MINOCIN for Injection under the Generating Antibiotic Incentives Now Act (GAIN Act). The designation, the third granted to a product in the Company’s infectious disease portfolio, would qualify MINOCIN for Injection for precedingity review and five years of marketing exclusivity upon an approval of the additional potential indications.
The Medicines Company provides medicines for patients in acute and intensive care hospitals worldwide. The company markets Angiomax, an intravenous direct thrombin inhibitor used as an anticoagulant in combination with aspirin in patients with unstable angina undergoing percutaneous transluminal coronary angioplasty, and for use in patients undergoing percutaneous coronary intervention; Cleviprex, an intravenous small molecule calcium channel blocker for blood pressure reduction; Minocin IV, an antibiotic for the treatment of infections due to gram-negative bacteria; Orbactiv for the treatment of acute bacterial skin and skin structure infections; PreveLeak, a mechanical vascular and surgical sealant; ready-to-use formulation of Argatroban for the treatment of thrombosis; and Recothrom, a human recombinant thrombin used as an aid to hemostasis, in addition to acute care generic products for acute cardiovascular, surgery and perioperative care, and serious infectious diseases.
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