On Thursday, Shares of Linn Energy, LLC (NASDAQ:LINE), lost -26.32% to $4.76, hitting its lowest level.
Linn Energy and LinnCo, LLC (LNCO) declared financial and operating results for the three months ended June 30, 2015, the intent to recommend suspension of LINN’s distribution and LinnCo’s dividend and the repurchase of about $599 million of senior notes at a 35 percent discount.
LINN stated the following second quarter 2015 results:
- Grew average daily production by 1.5 percent to about 1,219 MMcfe/d for the second quarter 2015, contrast to 1,201 MMcfe/d for the first quarter 2015;
- Raised full-year 2015 production guidance by about four percent and reduced lease operating expenses guidance by six percent;
- Total revenues of about $322 million for the second quarter 2015, which comprises losses on oil and natural gas derivatives of about $191 million;
- Improved lease operating expenses by 18 percent to about $141 million for the second quarter 2015, contrast to $173 million for the first quarter 2015;
- Net loss of about $379 million, or $1.12 per unit, for the second quarter 2015, which comprises non-cash losses related to changes in fair value of unsettled commodity derivatives of about $455 million, or $1.33 per unit;
- Excess of net cash offered by operating activities after distributions to unitholders and discretionary adjustments considered by the Board of Directors (“Board”), counting total development of oil and natural gas properties (see Plan 1) of about $71 million for the second quarter 2015; and
- Estimated net positive mark-to-market hedge book value of about $1.6 billion as of June 30, 2015, and $1.8 billion as of July 28, 2015.
Linn Energy, LLC, an independent oil and natural gas company, acquires and develops oil and natural gas properties in the Unites States. Its properties are located in the Rockies, the Hugoton Basin, California, east Texas and north Louisiana, the Mid-Continent, the Permian Basin, Michigan/Illinois, and south Texas.
Shares of General Motors Company (NYSE:GM), declined -0.13% to $31.91, during its last trading session.
General Motors Co. will probably report weaker sales than some key rivals do in July. The largest U.S. automaker said that’s because it’s selling fewer vehicles to rental-car agencies — not a lack of love in dealer showrooms, according to Bloomberg.
GM may report a sales decline or small gain in a month that analysts have predicted to be strong for the U.S. market, said Kurt McNeil, vice president of sales. The big culprit is that July will be the company’s lowest month for sales to rental and corporate fleets so far the year, according to data offered by GM. Bloomberg Reports
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.
Finally, Oshkosh Corporation (NYSE:OSK), ended its last trade with -7.68% loss, and closed at $36.05, hitting its lowest level.
Oshkosh Corporation stated fiscal 2015 third quarter net income of $89.9 million, or $1.13 per diluted share, contrast to $105.1 million, or $1.22 per diluted share, in the third quarter of fiscal 2014. Fiscal 2014 third quarter adjusted1 net income was $105.7 million, or $1.23 per diluted share, not taking into account an after-tax, other post employment benefits (OPEB) curtailment gain of $6.2 million related to declared workforce reductions in the Company’s defense segment and after-tax costs of $6.8 million resulting from a reduction in eligible OPEB costs under historical cost-plus government contracts. As predictable, fiscal 2015 third quarter results were positively influenced by $0.09 per share due to tax audit settlements and expiration of statutes of limitations and negatively influenced contrast to the preceding year quarter by $0.11 per share from currency translation, particularly the euro and Australian dollar, which declined against the U.S. dollar. Comparisons in this press release are to the corresponding period of the preceding year, unless otherwise noted.
Merged net sales in the third quarter of fiscal 2015 were $1.61 billion, a decrease of 16.6 percent contrast to the preceding year third quarter. Significantly lower defense segment sales, as predictable, and lower access equipment segment sales contributed to the lower sales levels. On a constant currency basis, sales reduced 14.7 percent contrast to the third quarter of fiscal 2014.
Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. Its Access Equipment segment offers aerial work platforms and telehandlers used in construction, agricultural, industrial, institutional, and general maintenance applications.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.