On Friday, Shares of News Corporation (NASDAQ:NWSA), gained 1.14% to $15.14.
News Corporation, stated financial results for the three months ended March 31, 2015.
News and Information Services
Revenues for the third quarter of fiscal 2015 reduced $135 million, or 9%, contrast to the preceding year. Total segment advertising revenues declined 12%, driven primarily by negative foreign currency fluctuations, weakness in the print advertising market and lower revenues at News America Marketing. Circulation and subscription revenues declined 6%, due to negative foreign currency fluctuations, a decline in professional information business revenues at Dow Jones and lower print circulation volume, partially offset by higher subscription pricing, cover price enhances and higher digital subscription volume. Adjusted revenues declined 3% contrast to the preceding year.
Segment EBITDA reduced $33 million in the quarter, or 23%, as contrast to the preceding year. Results were influenced by lower advertising revenues, negative foreign currency fluctuations and $8 million of higher legal expenses at News America Marketing, partially offset by lower expenses at News Corp Australia. Adjusted Segment EBITDA reduced 21% contrast to the preceding year.
News Corporation, a media and information services company, focuses on creating and distributing authoritative and engaging content to consumers and businesses worldwide. The company operates through News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Digital Education segments.
Shares of KB Home (NYSE:KBH), declined -0.14% to $14.59, during its last trading session.
KB Home, is celebrating the grand opening of its Boulder Point community in Lakeside, offering homebuyers their choice of three distinctive floor plans and the ability to enjoy hillside vistas along with convenient commutes to downtown San Diego, local beaches, major employment centers, shopping and entertainment.
Boulder Point is close to I-8, Highways 52 and 67, and the San Diego Trolley, which offers a fun way to travel throughout San Diego. KB homeowners will also be able to take advantage of the community’s future exclusive amenities, counting parks, children’s play yards and barbecue areas. Additionally, there are numerous outdoor recreation opportunities accessible at nearby New Santee Town Center Community Park, the Santee Aquatics Center, Mission Trails Regional Park and Cowles Mountain.
The 132 attached, duplex-style homes accessible at Boulder Point range in size from 1,465 to 1,748 square feet, with up to three bedrooms and two-and-a-half baths. Priced from the low-$400,000s, the thoughtfully-designed homes at Boulder Point feature open layouts and built-in storage spaces, and can be personalized to suit each homebuyer’s unique style and taste.
KB Home operates as a homebuilding company in the United States. It constructs and sells various homes, counting attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, move-up, and active adult homebuyers under the name KB Home.
At the end of Friday’s trade, Shares of Melco Crown Entertainment Limited (NASDAQ:MPEL), gained 2.72% to $20.57.
Melco Crown Entertainment, stated its unaudited financial results for the first quarter of 2015.
Net revenue for the first quarter of 2015 was US$1,054.3 million, representing a decrease of about 22% from US$1,357.3 million for the comparable period in 2014. The decline in net revenue was primarily attributable to lower group-wide rolling chip revenues and mass market table games revenues.
Adjusted property EBITDA was US$253.3 million for the first quarter of 2015, as contrast to Adjusted property EBITDA of US$387.5 million in the first quarter of 2014. The 35% year-over-year decline in Adjusted property EBITDA was attributable to lower group-wide rolling chip volumes and rolling chip win rate, together with a lower contribution from the mass market table games segment.
On a U.S. GAAP basis, net income attributable to Melco Crown Entertainment for the first quarter of 2015 was US$60.6 million, or US$0.11 per ADS, contrast with net income attributable to Melco Crown Entertainment of US$239.5 million, or US$0.44 per ADS, in the first quarter of 2014. The net loss attributable to non-controlling interests during the first quarter of 2015 of US$36.8 million related to Studio City and City of Dreams Manila.
Melco Crown Entertainment Limited, through its auxiliaries, develops, owns, and operates casino gaming and entertainment resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 1,400 gaming machines; about 1,400 hotel rooms and suites; a wet stage performance theater with about 2,000 seats; about 30 restaurants and bars, and 70 retail outlets; and recreation and leisure facilities, counting health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.
Finally, Apache Corp. (NYSE:APA), ended its last trade with 0.71% gain, and closed at $65.54.
Apache Corporation, declared a first-quarter 2015 net loss of $4.7 billion or $12.34 per diluted common share, which comprises an after-tax ceiling-test write down of $4.7 billion, as a result of substantially lower commodity prices. When adjusted for certain items that impact the comparability of results, Apache’s first-quarter loss totaled $139 million or $0.37 per share. Net cash offered by operating activities was about $650 million in the first quarter of 2015 and cash from operations, before changes in working capital, totaled $900 million.
Portfolio rebalancing update
During 2014, Apache conducted a review of its international portfolio with the aim of best positioning its asset base for the long-term benefit of its shareholders. This review resulted in several key divestitures during the past 12 months. In the first half of April, the company closed the formerly declared sale of its Wheatstone and Kitimat LNG projects to Woodside Petroleum for $3.7 billion of net proceeds. On April 8, Apache also declared the sale of its remaining oil and gas assets in Australia for $2.1 billion, subject to customary post-closing adjustments.
The company’s acquisition and divestiture transactions over the last several years have streamlined its portfolio and resulted in greater leverage to onshore North America. When adjusted for the recently declared sale in Australia, pro forma onshore North America now represents nearly two-thirds of total company production.
Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. It operates onshore and offshore assets primarily in the Permian Basin, the Anadarko basin in western Oklahoma, and the Texas Panhandle, Gulf Coast areas of the United States, in addition to in Western Canada.
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