On Friday, Shares of Ford Motor Co. (NYSE:F), gained 1.03% to $15.67.
Ford Motor Company, will conduct its 2015 Annual Meeting of Shareholders on Thursday, May 14, 2015 at the Hotel du Pont in Wilmington, Del. The meeting will start at 8:30 a.m. EDT and can be accessed on a listen-only basis by phone or audio webcast.
Ford Motor Company manufactures and distributes automobiles worldwide. The company operates through two sectors, Automotive and Financial Services. The Automotive sector develops, manufactures, distributes, and services vehicles, parts, and accessories.
Shares of Denbury Resources Inc. (NYSE:DNR), inclined 1.18% to $7.71, during its last trading session.
Denbury Resources, declared adjusted net income (a non-GAAP measure) of $23 million for the first quarter of 2015, or $0.07per diluted share. On a GAAP basis, the Company recorded a net loss of $108 million, or $0.31 per diluted share, on quarterly revenues of $304 million. Adjusted net income for the first quarter of 2015 differs from GAAP net income due to the exclusion of (1) a $146 million (pre-tax) write-down of oil and natural gas properties and a $65 million (pre-tax) loss on noncash fair value adjustments on commodity derivatives (a non-GAAP measure).
ADMINISTRATION COMMENT
Phil Rykhoek, Denbury’s President and CEO, commented, “We are happy with our first quarter results, as they were generally in line or better than our expectations. We were particularly happy with the reductions we have seen in our base lease operating costs, which on a per-barrel basis were down 7% sequentially and down 18% from year-ago levels. As predictable, our total and tertiary production were essentially flat contrast to levels in the fourth quarter of 2014. Based on our production levels for the first quarter of 2015 and our estimates for the remainder of the year, we feel confident that our original guidance for the full year is achievable. Our innovation and improvement teams have uncovered additional ways to reduce costs and boost operational efficiency, and although many of these will take time to be realized, there are some ideas that are providing near-term benefits. We are more than half complete with our detailed asset-level reviews, and we are encouraged by the findings and accomplishments thus far.
“We recently accomplished our borrowing base redetermination with the lenders under our bank credit facility and amended certain financial covenants in our bank agreement in order to provide us more flexibility if oil prices continue to remain low over the next several years. Due to the lower oil prices used by our banks in their evaluation, our borrowing base was reduced from $3.0 billion to $2.6 billion; however, as we have historically only asked for lender commitments of $1.6 billion, this reduction has no impact on our liquidity. More importantly, we have worked with our lenders to adjust certain covenants, primarily our debt to EBITDAX coverage limit, to put us in a much better covenant position for the next several years if oil prices remain at relatively low levels, while still providing us access to our $1.6 billion credit facility. Although we presently have no issues meeting our covenants, we believe this should provide us adequate flexibility to manage through this lower oil price environment and alleviate any potential concerns around our bank credit facility.
“We have used the recent improvement in oil prices to add to our existing hedging positions in the second and third quarters of 2016. Although we are not looking to hedge all of our production at current levels, we believe it is prudent to start locking in some predictability to our cash flows. Our strategy to secure more predictable future cash flows has been compriseent, and we will continue to look for opportunities to further extend these positions.
“We are off to a great start to this year, and we are excited about the opportunities that lie before us. Our employees are working hard to make Denbury the most efficient it can be, and we are energized by the innovative ideas our employees are generating. Our hedges are providing a noteworthy buffer during this period of lower oil prices, and based on current prices and projections we expect to generate noteworthy excess cash after capital expenditures and dividends in 2015.”
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide. It holds properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
At the end of Friday’s trade, Shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX), gained 5.68% to $13.95.
Grand Lake Health System of St. Marys, OH, U.S.A., selected the Allscripts Healthcare Solutions, SunriseTM platform as the core electronic health record (EHR) for its community of medical centers.
Grand Lake Health System, which has selected the Allscripts Sunrise suite to further its commitment to community health strategy by creating a comprehensive single patient record that supports acute, ambulatory, clinical, emergency, surgical care and post-acute home care. The organization will also use Sunrise to support enhancement of the patient-care administration processes. Grand Lake Health System intends to use the comprehensive Sunrise suite for all venues of care together with Sunrise’s improved revenue cycle administration solution to support today’s value based reimbursement model.
Allscripts Sunrise is an integrated suite of solutions for emergency, acute, post-acute, ambulatory, and revenue cycle. Used by many of the leading hospitals and health systems in the world, Allscripts Sunrise is a highly configurable solution that offers clinician-specific workflows that assist drive adoption of clinical decision support that can lead to improved outcomes.
Allscripts Healthcare Solutions, Inc. provides clinical, financial, electronic health records (EHR), connectivity, hosting, outsourcing, analytics, patient engagement, and population health products and services in the United States and Canada. It operates in three segments: Clinical and Financial Solutions, Population Health, and Managed Services.
Finally, Peabody Energy Corp. (NYSE:BTU), ended its last trade with 3.83% gain, and closed at $4.61.
Peabody Energy Corporation, declared a regular quarterly dividend on its common stock of $0.0025 per share. The dividend is payable on June 9, 2015, to holders of record on May 19, 2015.
Peabody Energy Corporation offers mining of coal. The company operates through Western U.S. Mining, Midwestern U.S. Mining, Australian Mining, Trading and Brokerage, and Corporate and Other segments. It is involved in mining and sale of thermal coal to electric utilities and metallurgical coal for industrial customers. It also offers direct and brokered trading of coal and freight-related contracts.
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