On Thursday, Shares of Comcast Corporation (NASDAQ:CMCSA), gained 0.45% to $57.92.
Comcast Corporation, declared that the company’s Xfinity brand will become the lead sponsor of Taylor Swift’s The 1989 World Tour, offering its customers benefits such as access to behind-the-scenes video footage from tour rehearsals in addition to the chance to meet the seven-time Grammy winner and win backstage tours, tour merchandise and concert tickets.
Xfinity will become the lead sponsor of all U.S. tour dates on The 1989 World Tour, starting on May 20 in Bossier City, LA and ending on October 31 in Tampa, FL.
As a part of the sponsorship, Xfinity will build an unprecedented Xfinity On Demand experience counting videos that give viewers a backstage pass to what goes into preparing for each show of The 1989 World Tour. Customers also will get On-Demand access to a curated collection of movies, TV shows and talk show appearances featuring Taylor as well her music videos.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments.
Shares of Molycorp, Inc. (NYSE:MCP), declined -12.49% to $0.59, during its last trading session.
Molycorp, declared financial and operating results for the first quarter of 2015.
FIRST QUARTER 2015 RESULTS
The Company stated merged net revenues of $106 million, an 8% decrease over the fourth quarter of 2014. The decrease in revenues was largely driven by a shifting product mix and softened pricing for rare earths, offset in part by raised volume.
During the first quarter of 2015, the Company sold 3,436 mt of product at an ASP of $30.97 per kilogram, generating a gross loss of $25 million. This compares to sales volumes of 3,149 mt at an ASP of $36.91 per kilogram and a gross loss of $45 million during the fourth quarter of 2014.
Molycorp stated a loss attributable to common stockholders of $102 million for the quarter, or $0.42 per share. An adjusted loss per share of $0.28 in the quarter does not reflect charges for impairment of inventory at Mountain Pass, out-of-ordinary business expenses, and certain other non-cash items.
The Company stated negative cash flows from operating activities of $73 million during the first quarter of 2015, and had $134 million in cash and cash equivalents as of March 31, 2015. During the three months ended March 31, 2015, Molycorp’s capital expenditures were $6 million on a cash basis.
Molycorp, Inc. produces and sells rare earths and rare metal materials in the United States and internationally. The company’s Resources segment extracts rare earth minerals, counting light rare earth concentrates; rare earth oxides (REO), such as lanthanum, cerium, and neodymium-praseodymium; heavy rare earth concentrates, which comprise samarium, europium, gadolinium, terbium, dysprosium, and others; and SorbX and PhosFIX, a line of rare earth-based water treatment products.
At the end of Thursday’s trade, Shares of NVIDIA Corporation (NASDAQ:NVDA), gained 1.76% to $22.49.
NVIDIA Corporation, stated revenue for the first quarter ended April 26, 2015, of $1.15 billion, up 4 percent from $1.10 billion a year earlier and down 8 percent from $1.25 billion the previous quarter.
GAAP earnings per diluted share for the quarter were $0.24, unchanged from $0.24 a year earlier and down 31 percent from $0.35 in the previous quarter. Non-GAAP earnings per diluted share were $0.33, up 14 percent from $0.29 a year earlier and down 23 percent from $0.43 in the previous quarter.
Icera Modem Operations
NVIDIA declared on May 5, 2015, that it will wind-down its Icera modem operations in the second quarter of fiscal 2016. It is open to a sale of the technology or operations.
The company estimates that it will recognize restructuring charges in the range of $100 million to $125 million, primarily during fiscal 2016. These charges will comprise of severance and other employee termination benefits, tax expense items and other costs associated with the wind-down, if the company is unable to sell the modem operations.
The Icera wind-down or sale is predictable to benefit non-GAAP operating expenses in the second half of the year and the company will carefully invest in its growth initiatives of deep learning, self-driving cars and gaming. Non-GAAP operating expenses in fiscal 2016 are predictable to be about flat with the previous year, not taking into account litigation costs, which are anticipated to be in the range of $70 million to $90 million as the company defends its intellectual property.
NVIDIA Corporation operates as a visual computing company in the United States, Taiwan, China, the rest of Asia Pacific, Europe, and other Americas. The company operates through two segments, GPU and Tegra Processors.
Finally, Peabody Energy Corp. (NYSE:BTU), ended its last trade with -5.33% loss, and closed at $4.44.
Peabody Energy Corporation declared that Allen Capdeboscq has been promoted to Senior Vice President – Corporate Development reporting to Group Executive and Chief Development Officer Christopher J. Hagedorn. Capdeboscq formerly served as Vice President – Financial and Capital Planning.
The appointment is consistent with Peabody’s heightened focus on asset sales and portfolio optimization. Capdeboscq will be focused on value-adding transactions involving the divestitures, non-core asset sales, joint ventures, minority interests, mergers and acquisitions.
Capdeboscq joined Peabody in 2006 as Vice President – Corporate Business Development and was named Vice President – Financial and Capital Planning in 2012. He formerly worked for A.G. Edwards in its investment banking energy group and for Shell Exploration and Production Company as a process and project engineer.
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.
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