On Wednesday, Shares of Delta Air Lines, Inc. (NYSE:DAL), lost -0.78% to $46.87.
Sky Team, the global airline alliance, has designated a new leadership team. Perry Cantarutti has been named as Chief Executive Officer and Michael Wisbrun takes over as the Chairman of the Governing Board.
The appointments were confirmed recently at a meeting of the alliance’s Governing Board, which is composed of CEOs and Chairmen of the 20 member airlines. Leo van Wijk has stepped down after more than 8 years as the Chairman of the alliance.
Cantarutti joins SkyTeam from Delta Air Lines where he held the position of Senior Vice President Europe, Middle East and Africa. During his five years in this role, Cantarutti was instrumental in maximising the profitability of the airline’s trans-Atlantic operations and identifying growth opportunities for its joint venture with Air France, KLM and Alitalia – the industry’s largest trans-Atlantic alliance.
“Perry brings with him a wealth of experience gained throughout 23 years in the aviation industry which, combined with his track record of forging successful airline partnerships and driving customer-focused results, will make him a dynamic leader of the SkyTeam alliance,” said Michael Wisbrun, SkyTeam’s new Chairman of the Governing Board.
Delta Air Lines, Inc. provides planned air transportation for passengers and cargo worldwide. The company operates in two segments, Airline and Refinery. Its route network comprises various gateway airports in Amsterdam, Detroit, Los Angeles, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, Seattle, and Tokyo-Narita.
Shares of Bonanza Creek Energy Inc (NYSE:BCEI), inclined 4.23% to $8.88, during its last trading session.
Bonanza Creek Energy, gained 21% on Friday following news of a smaller than anticipated loss, together with, and more importantly, an asset sale. As our newsletter readers are familiar, our views on the oil & energy industry continue to be long-term bearish due to diminishing global growth which has resulted in a decline in consumption of energy, chief among these being oil and associated byproducts. Friday, BCEI practiced below average volume, suggestive of a decline in probability for further upward momentum following the already impressive rally. Further evidence of diminishing volume could potentially point to conclude that any upside may not be sustainable.
Bonanza Creek Energy, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of onshore oil and associated liquids natural gas in the United States.
Finally, Shares of Silver Standard Resources Inc.(NASDAQ:SSRI), ended its last trade with 1.53% gain, and closed at $5.32.
Silver Standard Resources, reports merged financial results for the third quarter ended September 30, 2015.
Paul Benson, President and CEO said, “This was a solid quarter with both mines performing to plan in terms of production and cash costs. Importantly, we have set up the mines, particularly Marigold, for a strong fourth quarter and are well on track to achieve our guidance metrics at both. This, together with our strong balance sheet, with over $300 million in cash and marketable securities, and added liquidity through our revolving credit facility, enables us to pursue growth opportunities and continue creating shareholder value.”
Third Quarter 2015 Highlights:
- Delivered production to plan: Produced 41,262 ounces of gold at the Marigold mine and 2.6 million ounces of silver at the Pirquitas mine, for silver equivalent production of 5.6 million ounces.
- Continued trend of low gold cash costs: Stated $719 per payable ounce of gold sold at the Marigold mine.
- Silver cash costs in line with expectations: Stated $11.02 per payable ounce of silver sold at the Pirquitas mine.
- Strengthened corporate liquidity: Reached a $75 million, three-year senior secured revolving credit facility and maintained a cash balance of $200 million.
- Continued exploration success at Marigold: Stated the discovery of two new gold mineralized zones, the HideOut area and the 8D area.
- Accomplished the acquisition of the Valmy Property: Attained 2,844 hectare land package contiguous with the Marigold mine for $11.5 million in cash.
- Pursuing opportunity to extend operating life at the Pirquitas mine: Signed a contract with Golden Arrow Resources Corporation to explore and evaluate the Chinchillas project, located about 30 kilometers from the Pirquitas mine.
- Recorded impairment charge at Pirquitas: Non-cash, pre-tax impairment charge and write-downs of $42.2 million related to Pirquitas were recognized due to a decline in silver prices, counting $7.7 million related to ore stockpiles within cost of sales and income from mine operations.
Silver Standard Resources Inc. engages in the acquisition, exploration, development, and operation of precious metal mineral properties in the Americas. The company primarily explores for silver, gold, zinc, and lead deposits.