On Wednesday, Shares of Host Hotels and Resorts Inc (NYSE:HST), gained 0.52% to $16.48.
Host Hotels & Resorts, offered an update on its ongoing, value-enhancing planned transactions and share repurchases.
“We are making solid progress on our planned initiatives to create value, as underscored by our latest asset divestitures, financing activity and aggressive stock repurchases,” said W. Edward Walter, President and Chief Executive Officer. “We are opportunistically taking advantage of value-enhancing opportunities and market conditions, and remain confident in our planned plan and future prospects. Host Hotels is taking the right steps to support continued strong operating performance, drive continued growth and generate superior returns for stockholders.”
On November 12, 2015, the Company sold the 273-room Novotel Queenstown for NZ$91.3 million ($59.7 million), counting the FF&E reserve, ongoing the planned initiative of selling assets in Asia in order to wind down the Company’s business in the region. The Company anticipates proceeds of the sale to be used to repay the property’s existing NZ$30 million mortgage loan and for general corporate purposes, counting funding the stock repurchase program.
Host Hotels & Resorts, Inc. is a publicly owned real estate investment trust (REIT). The firm primarily engages in the ownership and operation of hotel properties. It invests in the real estate markets of United States.
Shares of Citrix Systems, Inc. (NASDAQ:CTXS), declined -10.05% to $70.54, during its last trading session.
Citrix, declared that Tim Minahan is joining its executive team as chief marketing officer (CMO). Minahan will be responsible for leading and evolving the Citrix marketing strategy to continue to drive the company’s vision of securely and reliably delivering applications and data. Minahan will report to Citrix interim CEO and president, and executive chairman, Bob Calderoni.
As a change agent for digital transformation, go-to-market strategy, demand generation, sales execution, M&A, and supply chain, Minahan has generated billions of dollars for both fast-growing start-ups and premier technology brands. He comes to Citrix from SAP where he was CMO of SAP Cloud. Formerly, he was at Ariba, where he served as senior vice president of Network Strategy in addition to CMO. An active evangelist on technology and business trends, he is a sought-after industry speaker and a published author on subjects ranging from business transformation and e-commerce to leadership and technology.
“Minahan has a proven track record in driving transformation, growing businesses, and leading high-performing teams to unprecedented success,” said Calderoni. “His passion and experience is a great complement to the executive team as Citrix continues to build positive momentum and focus on the company’s transformative initiatives declared earlier this year.”
Citrix Systems, Inc. provides virtualization, mobility administration, networking, and Software as a Service solutions worldwide. The company’s Enterprise and Service Provider division offers XenMobile Enterprise, a solution to manage mobile devices, apps, and data; Xen Desktop, a desktop virtualization system that gives customers the flexibility to deliver desktops and applications as cloud services; Citrix XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients; and Citrix Workspace Suite, a business mobility solution that delivers the user experience for any app or desktop.
Finally, Shares of Dicks Sporting Goods Inc (NYSE:DKS), ended its last trade with 0.51% gain, and closed at $37.15.
DICK’S Sporting Goods, stated sales and earnings results for the third quarter ended October 31, 2015.
Third Quarter Results
The Company stated merged net income for the third quarter ended October 31, 2015 of $47.2 million, or $0.41 per diluted share. The Company stated merged net income for the third quarter ended November 1, 2014 of $49.2 million, or $0.41 per diluted share. Not Taking Into Account a litigation settlement charge in the current year, net income was $51.9 million, or $0.45 per diluted share contrast to the Company’s expectations offered on August 18, 2015 of $0.45 to 0.48 per diluted share. The GAAP to non-GAAP reconciliation is comprised in a table later in the release under the heading “Non-GAAP Net Income and Earnings Per Share Reconciliations.”
Net sales for the third quarter of 2015 raised 7.6% to about $1.6 billion. Merged same store sales raised 0.4%, contrast to the Company’s guidance of an improvement of 1 to 3%. Same store sales for DICK’S Sporting Goods raised 0.7%, while Golf Galaxy reduced 2.9%. Third quarter 2014 merged same store sales raised 1.1%.
“Our positive same store sales for the quarter reflected a strong back-to-school selling season tempered by slowing trends later in the quarter. Strength in athletic footwear, accessories and athletic apparel was moderated by the impact of record warm weather in more seasonal categories,” said Edward W. Stack, Chairman and CEO. “With strong operational discipline, we generated earnings per share within our guided range.”
Dick’s Sporting Goods, Inc. operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, counting sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear products and accessories.