Following U.S. Stocks are among the “Top Losers” in the course of recent trading session: Sears Hometown and Outlet Stores Inc (NASDAQ:SHOS), Civeo Corp (NYSE:CVEO), West Corp (NASDAQ:WSTC), Marcus & Millichap Inc (NYSE:MMI)
- Sears Hometown and Outlet Stores Inc (NASDAQ:SHOS), with shares dwindled -27.23% is now trading at $9.46, hitting new 52-week high of $9.04. The Stock is active as 505,148.00 shares changed hands versus its average volume of 58,437.00 shares.
- Civeo Corp (NYSE:CVEO), with shares declined -18.32% is now trading at $2.88. The Stock is active as 4.24M shares changed hands versus its average volume of 2.29M shares.
- West Corp (NASDAQ:WSTC) with shares dipped -2.00% is now trading at $30.66. The stock showed an unusual volume of 3.64M shares, as compared to its average volume of 251,025.00 shares.
- Marcus & Millichap Inc (NYSE:MMI), with shares dropped -4.02% is now trading at $32.72. The stock showed an unusual volume of 2.69M, as compared to its average volume of 97,387.00 shares.
Latest NEWS regarding these Stocks are depicted underneath:
Sears Hometown and Outlet Stores, Inc. (NASDAQ:SHOS)
Sears Hometown and Outlet Stores, Inc. (SHOS), stated preliminary, unaudited results for its fourth fiscal quarter and fiscal year ended January 31, 2015 and declared the date it intends to hold its 2015 Annual Meeting of Stockholders and the date it intends to start mailing its proxy statement and related materials for the Annual Meeting.
Overview of Preliminary, Unaudited Results:
Results for the fourth quarter of 2014 contrast to the fourth fiscal quarter of 2013 comprised of:
- Comparable store sales reduced 7.7%,
- Recorded an incremental $1.5 million charge related to the reserve for potential losses on franchisee receivables,
- Adjusted EBITDA reduced $19.1 million to $(5.9) million from $13.2 million,
- Operating revenue reduced $17.5 million to $(9.7) million from $7.8 million,
- EPS reduced $0.36 to $(0.20) from $0.16.
Results for the 2014 fiscal year contrast to the 2013 fiscal year comprised of:
- Comparable store sales reduced 5.7%
- One-time, non-cash charge for impairment of goodwill of $167.0 million
- Recorded a $13.1 million charge related to the reserve for potential losses on franchisee receivables
- Adjusted EBITDA reduced $65.6 million to $5.9 million from $71.5 million
- Operating revenue reduced $232.3 million to $(171.2) million from $61.1 million, counting impairment of goodwill and charges related to the reserve for potential losses on franchisee receivables
- EPS reduced $9.00 to $(7.45) from $1.55
Sears Hometown and Outlet Stores, Inc. is engaged in the retail sale of home appliances, hardware, tools, and lawn and garden equipment in the United States.
Civeo Corporation (NYSE:CVEO)
Civeo Corporation (CVEO), stated financial results for the fourth quarter and full year ended December 31, 2014.
Bradley J. Dodson, President and Chief Executive Officer of Civeo, said, “Given the challenging market environment, we are happy to have generated results at the upper end of our guidance for the fourth quarter 2014. We expect conditions to remain difficult in 2015, and our focus is on capturing as much occupancy as possible. Administration is focused on further reducing our cost structure and maintaining a prudent approach to capital spending.”
FOURTH QUARTER 2014 RESULTS:
In the fourth quarter of 2014, the Corporation generated proceeds of $219.7 million and Adjusted EBITDA of $77.7 million. Net loss for the quarter was $271.6 million, or $2.54 per diluted share, which comprises $282.3 million in pre-tax charges, or $2.73 per diluted share after-tax, related to goodwill, fixed asset and intangible assets impairments, transition and migration costs and deferred revenue taxes. Not including these charges, the Corporation generated $18.0 million of adjusted net revenue, or $0.19 per diluted share.
In the fourth quarter of 2013, the Corporation generated proceeds of $258.5 million. Net revenue in the year ago period was $45.5 million, or $0.43 per diluted share. Adjusted EBITDA in the fourth quarter of 2013 was $105.9 million.
Proceeds and Adjusted EBITDA declined in 2014 as contrast to 2013 primarily due to lower occupancy levels in both the Australian villages and Canadian lodges and lower average daily rates at the Canadian lodges. In addition, fourth quarter 2014 results were influenced by the unfavorable influence of a stronger U.S. dollar contrast to the Canadian dollar and the Australian dollar, both of which declined in relative value by 8% on a year-over-year basis.
The charges taken in the fourth quarter of 2014 were:
- A $278.9 million pre-tax charge, or $2.37 per diluted share after-tax loss, from goodwill, fixed asset and intangible asset impairments;
- a $34.9 million after-tax loss ($0.33 per diluted share after-tax loss) from the establishment of a deferred tax liability related to a portion of the Corporation’s undistributed foreign earnings which Civeo no longer anticipates to indefinitely reinvest and a valuation allowance against certain deferred tax assets; and
- a $3.5 million pre-tax expense, or $0.03 per diluted share after-tax loss, from transition costs incurred in connection with the spin-off from Oil States and the projected migration to Canada.
Civeo Corporation is a leading provider of workforce accommodations with prominent market positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for housing hundreds or thousands of workers with its long-term and temporary accommodations and provides catering, facility administration, water systems and logistics services.
West Corporation (NASDAQ:WSTC), declared the pricing of an underwritten public offering of 11,000,000 shares of ordinary stock by certain of its existing stockholders at a public offering price of $30.75 per share. The underwriters of the offering have a 30-day option to purchase up to an additional 1,650,000 shares of ordinary stock from the selling stockholders at the public offering price, less underwriting discounts and commissions. Subject to customary conditions, the offering is predictable to close on March 18, 2015.
All of the shares of ordinary stock in the offering will be sold by investors related to Thomas H. Lee Partners, L.P. and Quadrangle Group LLC. Neither the Corporation nor the Corporation’s administration is selling any shares of ordinary stock in the offering, and the Corporation will not receive any proceeds from the offering by the selling stockholders.
In addition, as formerly declared, the Corporation has reached an contract with the selling stockholders to repurchase 1,000,000 shares of ordinary stock from the selling stockholders in a private transaction, concurrent with the closing of the offering. The shares will be repurchased at a price of $29.60 per share, for an aggregate purchase price of $29,600,000. The closing of the share repurchase is contingent on, and predictable to occur simultaneously with, the closing of the offering, subject to the satisfaction of other customary conditions. The closing of the offering is not contingent on the closing of the share repurchase.
West Corporation, together with its auxiliaries, provides technology-enabled communication services in the United States, Canada, Europe, the Middle East, Africa, the Asia-Pacific, Latin America, and South America.
Marcus & Millichap, Inc. (NYSE:MMI)
Marcus & Millichap, Inc. (MMI), declared the pricing of a secondary offering of 4.0 million shares of ordinary stock by Phoenix Investments Holdings LLC, and The Marcus Family Foundation at $33.50 per share. In addition, Phoenix has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of ordinary stock. The offering is predictable to close on March 18, 2015, subject to customary closing conditions.
The Corporation will not receive any proceeds from the sale of ordinary stock by the selling stockholders.
Citigroup, Barclays and Wells Fargo Securities are acting as joint book-runners for the offering. William Blair and JMP Securities are acting as co-managers for the offering.
The securities are being offered under the Corporation’s shelf registration statement formerly filed with the Securities and Exchange Commission and declared effective on February 25, 2015.
Marcus & Millichap, Inc., a brokerage corporation, provides investment brokerage and financing services to sellers and buyers of various types and sizes of commercial real estate assets in the United States and Canada.
