On Friday, Magellan Midstream Partners, L.P.(NYSE:MMP)’s shares declined -1.29% to $63.32.
Magellan Midstream Partners, L.P. (MMP) stated net income of $177.4 million for second quarter 2015, an enhance of $31.1 million, or 21% higher than the $146.3 million generated in second quarter 2014.
Distributable cash flow (DCF), a non-generally accepted accounting principles (non-GAAP) financial measure that represents the amount of cash generated during the period that is accessible to pay distributions, was $222.8 million for second quarter 2015 contrast to $195.8 million for second quarter 2014, representing a 14% enhance.
Diluted net income per limited partner unit was 78 cents in second quarter 2015 and 64 cents in second quarter 2014. Diluted net income per unit not taking into account mark-to-market (MTM) commodity-related pricing adjustments, a non-GAAP financial measure, of 82 cents for second quarter 2015 was higher than the 75-cent guidance offered by administration in May 2015 primarily due to higher shipments on the BridgeTex pipeline and higher-than-predictable commodity prices during the quarter.
Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. It operates in three segments: Refined Products, Crude Oil, and Marine Storage.
FedEx Corporation (NYSE:FDX)’s shares dropped -2.81% to $145.29.
FedEx Corp. (FDX) stated earnings of $2.42 per diluted share for the first quarter ended August 31, contrast to adjusted earnings of $2.12 per diluted share a year ago. Without adjustment, FedEx earned $2.26 per diluted share last year.
First Quarter Results
FedEx Corp. stated the following merged results for the first quarter:
Operating results rose contrast to last year due to sharply raised operating income at FedEx Express, the benefit from one additional operating day at each of the company’s transportation segments and the continued positive impacts from the company’s profit improvement program. These benefits were partially offset by higher incentive compensation accruals, higher self-insurance reserves and operating costs at FedEx Ground, and lower-than-anticipated volume at FedEx Freight. Fuel had a slightly negative net impact to operating income. Costs related to the pending acquisition of TNT Express were immaterial during the quarter.
During the quarter, the company attained 1.1 million shares of FedEx common stock.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; international trade advisory services, such as assistance with the customs-trade partnership against terrorism program; and customs clearance services, in addition to global trade data, an information tool that allows customers to track and manage imports.
At the end of Friday’s trade, LaSalle Hotel Properties (NYSE:LHO)‘s shares dipped -6.68% to $29.62.
LaSalle Hotel Properties (LHO) declared a quarterly dividend of $0.45 per common share of beneficial interest for the quarter ending September 30, 2015. The third quarter dividend will be paid on October 15, 2015 to common shareholders of record on September 30, 2015.
LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 47 hotels and a mezzanine loan secured by two hotels in Santa Monica, California. The properties are upscale, full-service hotels, totaling more than 12,000 guest rooms in 14 markets in 10 states and the District of Columbia. The Company focuses on owning, redeveloping and repositioning upscale, full-service hotels located in urban, resort and convention markets. LaSalle Hotel Properties seeks to grow through planned relationships with premier lodging companies, counting Westin Hotels and Resorts, Hilton Hotels Corporation, Outrigger Lodging Services, Noble House Hotels & Resorts, Hyatt Hotels Corporation, Benchmark Hospitality, White Lodging Services Corporation, Commune Hotels and Resorts, Davidson Hotel Company, Denihan Hospitality Group, the Kimpton Hotel & Restaurant Group, LLC, Accor, Destination Hotels & Resorts, HEI Hotels & Resorts, JRK Hotel Group, Inc., Viceroy Hotel Group, Highgate Hotels and Access Hotels & Resorts.
LaSalle Hotel Properties, a real estate investment trust (REIT), engages in the purchase, ownership, redevelopment, and leasing of primarily upscale and luxury full-service hotels in convention, resort, and urban business markets in the United States.
AEGON N.V. (ADR) (NYSE:AEG), ended its Friday’s trading session with -5.94% loss, and closed at $5.86.
Shareholders were given the opportunity to choose between receiving the 2015 interim dividend of EUR 0.12 per common share in cash or in stock. 43% of shareholders elected to receive the stock dividend. Those who elected for a stock dividend will receive one Aegon common share for every 45 common shares held. The stock fraction is based on Aegon’s average share price as quoted on Euronext Amsterdam, using the high and low of each of the five trading days from September 7 up to and counting September 11, 2015. The average share price calculated on this basis amounted to EUR 5.40. The stock dividend and the cash dividend are about equal in value.
Aegon will repurchase 20,136,673 common shares to neutralize the dilutive effect of the 2015 interim stock dividend. These shares will be held as treasury shares and will be used to pay future stock dividends. Aegon is committed to the repurchase of the common shares by engaging a third party to execute the transactions on its behalf. These transactions will commence on September 16, 2015, and are predictable to be accomplished on or before October 14, 2015. The common shares will be repurchased at a maximum of the daily volume-weighted average price. Aegon will provide weekly updates regarding the transactions on aegon.com/sharebuyback.
Aegon N.V. provides life insurance, pensions, and asset administration services. The company operates through the Americas, the Netherlands, the United Kingdom, and New Markets. The company offers life and protection products, such as traditional and universal life, endowment, term, and whole life insurance products; and supplemental health, accidental death and dismemberment insurance, critical illness, cancer treatment, credit/disability, income protection, travel, and long-term care insurance.
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