On Thursday, Shares of Telefonica S.A. (ADR) (NYSE:TEF), lost -1.43% to $15.18.
Telefónica, presented its results corresponding to the first semester of 2015 and reports a net profit of 3,693 million Euros, double the amount reached in the same period of 2014 (+105.4%). Additionally, the Company has raised revenue growth guidance for the full year to >9.5 % (vs. >7% formerly).
Telefónica consolidates its new growth cycle quarter after quarter. Up until June, and in stated terms, merged revenue grew +12.5% to 23,419 million euros, OIBDA raised +7.2% to 7,320 million euros, and earnings per share (0.75 euros per share) doubled contrast to the same period of 2014. At the end of June, Telefónica Group’s customer base raised +13% yoy to 329,4 million accesses.
Second quarter numbers of the year confirm the new growth cycle started in the previous quarter and show an acceleration in the organic evolution of revenue and OIBDA growing +4.4% and +3.3% respectively between April and June (+12.4% and +6.8% in stated terms). This growth is based on a generalized improvement of the competitive positioning driven by a high value customer base and supported as well by the investments made on modernizing and transforming the networks. In fact, Telefónica Group CapEx during the first half of the year grew +66.4% to 5,094 million Euros.
Telefónica, S.A. provides fixed and mobile communication services primarily in Europe and Latin America. The company offers mobile voice, value added, mobile data and Internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.
Shares of Trina Solar Limited (ADR) (NYSE:TSL), inclined 0.64% to $9.48, during its last trading session.
Trina Solar Limited, declared that the Osaka Sangyo University (“OSU”) Solar Car Team, equipped with Trina Solar’s newly developed Interdigitated Back Contact (IBC) cells and modules for OSU’s Solar Car, the “OSU-Model-S”, has won the “2015 FIA ALTERNATIVE ENERGIES CUP Solar Car Race” held at the Suzuki International Racing Circuit. This is OSU’s fourth successive victory at the IFA Suzuka Solar Race. The “OSU-Module-S” developed by OSU’s Solar Car Team was 100% powered by solar cells developed by the State Key Laboratory of PV Science and Technology of Trina Solar.
The IFA Suzuka Solar Race is the largest international solar car race taking place in Japan. First held in 1992, this year’s competition marked its 24th year. Fueled solely by 565 of Trina Solar’s IBC cells and modules, which demonstrated efficiencies up to 24.4% in laboratory tests and 22~23% in pilot industrial production, the OSU-Model-S was classified into “Dream Class”, the top ranked category of the five-hour race. The OSU-Model-S won its category by 66 laps, taking a clear victory in the race, three laps ahead of the following car.
“Trina Solar has been a tremendous partner and the high efficiency of Trina Solar’s cells was the key to our victory,” said Mr. Masayuki Murakami, Project Leader of the OSU Solar Car Project. “Through utilizing Trina’s IBC Cells, our solar car was highly efficient. Thanks to an extremely lightweight design, efficient power electronics and Trina’s solar cells, our solar car was able to maintain an average speed of 78.5km throughout the 5-hour race. I am very thankful to the team led by Dr. Pierre Verlinden, Chief Scientist of Trina Solar. With the team’s world-class technology and superior knowledge of solar power applications, we were able to demonstrate how effective solar powered transportation can be. We look forward to collaborating with Trina Solar in the future in more advanced renewable solar projects given our shared vision of building a greener and brighter world.”
Trina Solar Limited operates as an integrated solar-power products manufacturer and solar system developer in the People’s Republic of China, Europe, the United States, and other Asia Pacific regions.
At the end of Thursday’s trade, Shares of Energen Corporation (NYSE:EGN), lost -1.80% to $54.12.
Energen Corporation, stated a GAAP net loss from all operations of $111.6 million, or $(1.52) per diluted share. Not taking into account mark-to-market derivatives losses, impairment losses and other non-cash items, and a purchase price adjustment from the sale of the majority of the company’s San Juan Basin assets in March 2015, Energen’s adjusted income in the 2nd quarter of 2015 totaled $7.7 million, or $0.10 per diluted share. This compares with adjusted income from ongoing operations in the 2nd quarter of 2014 of $26.0 million, or $0.36 per diluted share. The variance between the periods largely is attributable to a 22 percent decline in realized oil and natural gas liquids (NGL) prices and higher depreciation, depletion, and amortization expense (DD&A) associated with raised drilling activity, partially offset by a 23 percent enhance in production.
Energen’s adjusted EBITDAX totaled $180.3 million in the 2nd quarter of 2015, up 4 percent from adjusted EBITDAX from ongoing operations in the same period last year of $172.9 million.
The company’s adjusted 2nd quarter net income approximated internal expectations as raised production, lower lease operating expenses (LOE), and lower production and ad valorem taxes were essentially offset by raised depreciation expense, lower commodity prices, higher net general and administrative expense (G&A), and the timing of geological and geophysical (G&G) exploration expenses.
Production in the 2nd quarter of 2015 exceeded the guidance range midpoint by 8 percent (about 4,635 boepd) largely due to the continued impact of accelerated completions in the first quarter on Delaware Basin production, better-than-predictable well performance from Wolfcamp and 3rd Bone Spring wells in the Delaware Basin, and the timing of horizontal completions in the Midland Basin.
Energen Corporation, through its partner Energen Resources Corporation, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. As of December 31, 2014, the company had about 372.7 million barrels of oil equivalent reserves located in the Permian Basin in west Texas, and the San Juan Basin in New Mexico and Colorado.
Finally, WestRock Co (NYSE:WRK), ended its last trade with -0.28% loss, and closed at $63.13.
WestRock Company has reached a definitive agreement to acquire SP Fiber Holdings, Inc., a producer of recycled containerboard and kraft and bag paper with mills located in Dublin, Georgia, and Newberg, Oregon. WestRock will also acquire SP Fiber’s 48 percent interest in Green Power Solutions of Georgia, LLC (GPS). GPS is a renewable energy joint venture providing energy to Georgia Power and steam to the paper mill in Dublin. The total value of this transaction is $288.5 million.
SP Fiber produces containerboard and kraft and bag paper for end use in consumer and corrugated packaging. Made from 100 percent post-consumer recycled fiber, these products have earned FSC, SFI and PEFC certifications.
The transaction is predictable to generate noteworthy synergies and be accretive to earnings in the second half of fiscal year 2016. The transaction is subject to regulatory approval and will close after the regulatory process has concluded.
WestRock Company manufactures and sells paper and packaging solutions for consumer and corrugated markets in North America, South America, Europe, and the Asia-Pacific. It offers folding cartons for use in various food and non-food applications; superior pumps, sprayers, and dispensing closures for home cleaning, healthcare, and beauty and personal care products; and corrugated containers for home appliances, electric motors, small machinery, produce, books, furniture, and other products.
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