On Friday, Shares of The Walt Disney Company (NYSE:DIS), gained 0.74% to $109.35.
The Walt Disney Company stated record quarterly earnings of $2.5 billion for its third fiscal quarter ended June 27, 2015 contrast to $2.2 billion for the preceding-year quarter. Diluted earnings per share (EPS) for the third quarter raised 13% to $1.45 from $1.28 in the preceding-year quarter. EPS for the nine months ended June 27, 2015 raised 16% to $3.95 from $3.40 in the preceding-year period. Not taking into account certain items affecting comparability(1), EPS for the nine months raised 15%.
Media Networks
Media Networks revenues for the quarter raised 5% to $5.8 billion and segment operating income raised 4% to $2.4 billion.
Parks and Resorts
Parks and Resorts revenues for the quarter raised 4% to $4.1 billion and segment operating income raised 9% to $922 million. Operating income growth for the quarter was due to an enhance at our domestic operations, partially offset by a decrease at our international operations.
Higher operating income at our domestic operations was primarily due to volume and guest spending growth, partially offset by higher costs. The enhance in volumes was due to attendance growth at our theme parks and higher occupied room nights at Walt Disney World Resort and our Aulani resort in Hawaii. Guest spending growth was due to higher food, beverage, and merchandise spending, enhances in average ticket prices at our cruise line and Disneyland Resort and higher average hotel room rates. Cost enhances were due to labor and other cost inflation, costs for the 60th Anniversary celebration at Disneyland Resort and higher pension and postretirement medical costs, partially offset by lower marketing costs at Walt Disney World Resort.
Lower operating income at our international operations was due to lower attendance and occupied room nights at Hong Kong Disneyland Resort, higher operating costs at Disneyland Paris and Hong Kong Disneyland Resort, and higher pre-opening expenses at Shanghai Disney Resort. These decreases were partially offset by higher average ticket prices, raised food, beverage and merchandise spending and higher volumes at Disneyland Paris.
The Walt Disney Company, together with its auxiliaries, operates as an entertainment company worldwide. The company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products, and Interactive.
Shares of SolarCity Corporation (NASDAQ:SCTY), declined -5.58% to $52.25, during its last trading session.
SolarCity Corporation declared the pricing of the offering by its wholly-owned partner, SolarCity LMC Series IV, LLC, of $123,500,000 aggregate principal amount of Solar Asset Backed Notes, Series 2015-1 (the “notes”) compriseing of two classes of notes. The notes were priced on August 7, 2015 and were offered only (i) within the United States to persons who are qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933, as amended, and (ii) to certain non‑U.S. persons in offshore transactions in reliance on Regulation S under such Act.
The sale of the notes is predictable to close on August 13, 2015, subject to customary closing conditions.
The senior class of notes (Class A Notes) comprises of $103,500,000 aggregate principal amount that will have an interest rate of 4.18% and an anticipated repayment date of February 21, 2022. The junior class of the notes (Class B Notes) comprises of $20,000,000 aggregate principal amount that will have an interest rate of 5.58% and an anticipated repayment date of February 21, 2022.
SolarCity Corporation designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States.
Finally, Fifth Third Bancorp (NASDAQ:FITB), ended its last trade with -0.42% loss, and closed at $21.14.
Fifth Third Bancorp declared that it has extended more than $12 billion in new and renewed credit to business customers from April through June 2015. Fifth Third Bank loaned more than $8.5 billion to businesses throughout its footprint during the First Quarter of 2015.
Companies who have received loans from Fifth Third Bank during this time period comprise:
- Assurance Operations Corp, a full service engineering and manufacturing solutions company specializing in metal fabrication, stamping applications and industrial packaging. The Lawrenceburg, TN based company secured acquisition financing and treasury administration services.
- American Panel Corporation, a producer and distributor of commercial and military plane panels and technology and Manufacturing Resources International is a manufacturer and distributor of large digital display marketing units. The Alpharetta, Georgia based companies secured a line of credit, commercial real estate loan and other treasury administration services.
- Kalson’s Hospitality, an owner/operator of nationally flagged hotels in Central Florida. The Company secured a construction loan to develop a 133 room Homewood Suites.
- The Cellular Connection, a premium Verizon Wireless Retailer in Carmel, Indiana. The Company secured a revolving line of credit, term loan for acquisitions and to enhance working capital.
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through four segments: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors.
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