On Thursday, Shares of Spectra Energy Corp. (NYSE:SE), lost -0.80% to $36.09.
Spectra Energy, stated first quarter 2015 distributable cash flow of $354 million, contrast with $324 million in the preceding-year quarter. Distributions per limited partner unit for first quarter 2015 were $0.60125, contrast with $0.55625 per limited partner unit in 2014.
For the quarter, stated earnings before interest, taxes, depreciation and amortization (EBITDA) were $436 million, contrast with $413 million in the preceding-year quarter. Ongoing EBITDA was $445 million, contrast with $413 million in the preceding-year quarter.
Stated net income from controlling interests was $293 million for first quarter 2015, contrast with $242 million in first quarter 2014. Ongoing net income from controlling interests was $302 million for the quarter contrast with $265 million in the preceding-year quarter.
Spectra Energy Corp, through its auxiliaries, owns and operates a portfolio of natural gas-related energy assets in North America. The company’s Spectra Energy Partners segment engages in the transmission, storage, and gathering of natural gas, in addition to transportation and storage of crude oil and natural gas liquids (NGLs) for customers in various regions of the midwestern, northeastern, and southeastern United States and Canada.
Shares of Prospect Capital Corporation (NASDAQ:PSEC), climbed 3.34% to $8.04, during its last trading session.
Prospect Capital Corporation, declared financial results for our third fiscal quarter ended March 31, 2015.
For the March 2015 quarter, Prospect Capital’s net investment income (“NII”) was $87.4 million or $0.24 per weighted average share. For the March 2014 quarter, our NII was $98.5 million or $0.31 per weighted average share. NII reduced by $11.1 million year-over-year on a dollars basis and reduced by $0.07 on a per share basis, driven primarily by a $0.07 per share decrease in structuring fees and a $0.02 per share enhance in interest and credit facility expenses. Offsetting this decrease in income was a $0.02 per share decrease in incentive administration fees. The decrease in structuring fee income was due to lower origination levels and a mix shift toward online loans (which do not generate structuring fees but which are presently delivering an predictable levered yield of about 18%).
For the March 2015 quarter, the company’s enhance in net assets resulting from operations (“NI”) was $81.5 million or $0.23 per weighted average share. For the March 2014 quarter, the NI was $82.1 million or $0.26 per weighted average share. NI was stable year-over-year on a dollars basis and reduced by $0.03 on a per share basis.
Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, buyouts, recapitalizations, turnaround, growth capital, development, subordinated debt tranches of collateralized loan obligations, cash flow term loans, and bridge transactions.
At the end of Thursday’s trade, Shares of ZIOPHARM Oncology, Inc. (NASDAQ:ZIOP), gained 10.18% to $10.50.
ZIOPHARM Oncology, declared financial results for the first quarter ended March 31, 2015, and offered an update on the company’s recent activities.
Recent and Forthcoming Corporate Highlights
In January, ZIOPHARM and its partner, Intrexon Corporation, reached an exclusive license agreement with The University of Texas MD Anderson Cancer Center for programs and associated technologies related to the development of non-viral adoptive cellular therapies, counting CAR T, TCR and associated cell-based therapies. When combined with Intrexon’s technology suite and ZIOPHARM’s further clinical validation of the RheoSwitch Therapeutic System(R) (RTS(R)) gene switch, the resulting proprietary methods and technologies may assist realize the promise of genetically modified immune cells by tightly controlling expansion and activation in the body, thereby minimizing off-tissue effects and toxicity while maximizing therapeutic efficacy.
In March, ZIOPHARM and Intrexon declared an exclusive planned partnershipand license agreement to develop and commercialize CAR T cancer therapies with Merck Serono, the biopharmaceutical business of Merck KGaA, Darmstadt, Germany. Under the agreement, Merck will nominate targets of interest for which selected CAR-T products will be developed, and will lead pre-IND interactions, IND filing, clinical development and commercialization. Under the terms of the agreement, Intrexon will share equally all economic provisions of the partnership with ZIOPHARM, counting an upfront payment of $115 million. For the first two targets of interest selected by Merck Serono, Intrexon will receive research funding and is eligible to receive up to $826 million in development, regulatory and commercial milestones ($413 million per Product), in addition to tiered royalties on product sales. In addition, Intrexon is also eligible to receive further payments upon achievement of certain technology development milestones.
Under the agreement, Intrexon and ZIOPHARM have the opportunity to explore targets independently, granting Merck opt-in rights during clinical development.
ZIOPHARM Oncology, Inc., a biotechnology company, employs gene expression, control, and cell technologies to deliver cell-based therapies for the treatment of cancer. Its synthetic immuno-oncology programs, in collaboration with Intrexon Corporation and the MD Anderson Cancer Center, comprise chimeric antigen receptor T cell (CAR-T) and other adoptive cell based approaches that use both non-viral and viral gene transfer methods for broad scalability.
Finally, Discover Financial Services (NYSE:DFS), ended its last trade with -0.75% loss, and closed at $57.91.
Mark Graf, executive vice president and chief financial officer of Discover, will present at the Barclays Americas Select Franchise Conference in London on Wednesday, May 20, 2015, at 4:50 a.m. Eastern time.
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, including private student loans, personal loans, home loans, home equity loans, prepaid cards, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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