On Tuesday, Discover Financial Services (NYSE:DFS)’s shares declined -2.06% to $51.26.
Discover is giving students who sign up for a new Discover student credit card an added incentive to get good grades while they are in school. New student cardmembers who apply after July 23, 2015 will be rewarded with $20 in Cashback Bonus® if their grade point average is 3.0 (or equivalent) or higher each year they are enrolled in school, for the first five years from the account opening.
The Good Grades $20 Cashback Bonus will be in addition to the current rewards structures for the two student credit cards Discover has accessible:
- Discover it® chrome for Students offers an automatic 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases quarterly.
- Discover it® for Students offers 5% cash back in categories that change each quarter, up to the quarterly maximum in combined purchases, when you sign up.
- Both cards earn 1% cash back on all other purchases.
Discover Financial Services operates as a direct banking and payment services company in the United States. It operates in two segments, Direct Banking and Payment Services. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, counting private student loans, personal loans, home loans, home equity loans, prepaid cards, and other consumer lending, in addition to deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
Tesla Motors Inc (NASDAQ:TSLA)’s shares gained 3.62% to $220.03.
Tesla ( TSLA) declared that it intends to offer, subject to market and other conditions, $500 million of additional shares of common stock in an underwritten registered public offering. In addition, Tesla intends to grant the underwriters a 30-day option to purchase up to $75 million of additional shares of common stock.
Elon Musk, Tesla’s CEO, intends to purchase $20 million of common stock in this offering at the public offering price.
Tesla intends to use the net proceeds from this offering to accelerate the growth of its business in the United States and internationally, counting the growth of its stores, service centers, Supercharger network and the Tesla Energy business, and for the development and production of Model 3, the development of the Tesla Gigafactory, and other general corporate purposes.
Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the United States, China, Norway, and internationally. It also provides development services to develop electric vehicle powertrain components and systems for other automotive manufacturers.
At the end of Tuesday’s trade, American Electric Power Company Inc (NYSE:AEP)‘s shares surged 0.02% to $53.03.
Affiliates of American Electric Power (AEP), Berkshire Hathaway Energy, Duke Energy (DUK), Edison International (EIX), Eversource Energy (ES), Exelon (EXC), Great Plains Energy (GXP), and Southern Company (SO) have signed a memorandum of understanding to pursue development of Grid Assurance™, a limited liability company that expects to offer subscribers cost-effective solutions for enhancing grid resiliency and protecting customers from prolonged transmission outages.
As proposed, Grid Assurance will own and provide subscribers with timely access to an inventory of emergency spare transmission equipment that can otherwise take months to acquire. Grid Assurance filed a petition with the Federal Energy Regulatory Commission (FERC) late yesterday seeking confirmation that this service can be part of a transmission-owning entity’s strategy to effectively address grid resiliency mandates. Grid Assurance will not be FERC regulated, but plans to charge cost-based subscription fees, similar to FERC-regulated transmission formula rates. Cost-based subscription fees are expected to facilitate subscribers’ ability to recover expenses.
Restoration of the transmission grid can be hampered by long lead times required to design, build and deliver critical replacement equipment including large transformers, circuit breakers and other specialized electrical equipment. As proposed, Grid Assurance will be more cost-effective than companies independently securing emergency spare equipment for high-impact, low-frequency events due to economies of scale, diversification and improved logistics.
American Electric Power Company, Inc., a public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers. The company generates electricity using coal and lignite, natural gas, nuclear, and hydroelectric and other energy sources.
Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), ended its Tuesday’s trading session with 5.29% gain, and closed at $63.70.
Ctrip.com International, Ltd. (CTRP), a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel administration in China (“Ctrip” or the “Company”), recently declared its unaudited financial results for the second quarter ended June 30, 2015.
Highlights for the Second Quarter of 2015
- Net revenues were RMB2.53 billion (US$408 million) for the second quarter of 2015, up 47% year-on-year.
- Net commission earned (non-GAAP) was RMB2.49 billion for the second quarter, up 45% year-on-year. Net commission earned (non-GAAP) is calculated by deducting from the revenues the cost of transactions where the Company undertakes majority of the business risks, counting the inventory risks*. The Company accounts for discount offered to the customers as reduction to its revenues, and certain noteworthydiscount may result in selling price lower than cost.
- Accommodation reservation volume raised 55% year-on-year, and accommodation reservation revenues raised 47% year-on-year, reaching RMB1.1 billion (US$178 million) for the second quarter of 2015.
- Transportation ticketing volume raised 106% year-on-year, and transportation ticketing revenues raised 45% year-on-year, reaching RMB1.1 billion (US$170 million) for the second quarter of 2015.
- Gross margin was 71% for the second quarter of 2015, contrast to 72% in the same period in 2014, and 70% in the previous quarter.
- Net income attributable to Ctrip’s shareholders was RMB143 million (US$23 million) for the second quarter of 2015, contrast to RMB135 million (US$22 million) in the same period in 2014. Not taking into account share-based compensation charges (non-GAAP), net income attributable to Ctrip’s shareholders was RMB296 million (US$48 million), contrast to RMB246 million (US$40 million) in the same period in 2014.
- Diluted earnings per ADS were RMB0.90 (US$0.15) for the second quarter of 2015. Not taking into account share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB1.86 (US$0.30) for the second quarter of 2015.
Ctrip.com International, Ltd., together with its auxiliaries, provides travel services for hotel accommodations, transportation ticketing services, packaged tours, and corporate travel administration in the People’s Republic of China. It also offers independent leisure travelers bundled packaged-tour products, counting group tours, semi-group tours, and private tours or packaged tours with various transportation arrangements, such as cruise, bus, or self-driving.
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