On Wednesday, Shares of Delta Air Lines, Inc. (NYSE:DAL), gained 0.76% to $43.99.
Delta Air Lines, stated financial results for the June 2015 quarter, counting adjusted net income of $1.0 billion or $1.27 per diluted share, up 22% from the June quarter of 2014.
“Delta’s record results have allowed the company to invest in its employees through higher wage rates and profit sharing; improve the experience for our customers through new aircraft and innovative partnerships with global carriers; and uniquely deliver value for our shareholders by accelerating our capital returns while also paying down debt,” said Richard Anderson, Delta’s chief executive officer. “We have more work and opportunity ahead of us on all of these fronts as we continue to execute on our long-term plan.”
Anderson continued, “Our noteworthy fuel savings in the September quarter should allow us to produce another record quarter with more than 30% EPS growth, a 19-21% operating margin and $1.9 billion of operating cash flow.”
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 Groupon, Inc. (NASDAQ:GRPN), declined -1.96% to $5, during its last trading session.
Blue Calypso, Inc. (BCYP), developer of patented mobile consumer shopping engagement solutions for retailers and product manufacturers, declared that on July 8, 2015, it accomplished its Claim Construction Hearing, or “Markman hearing” for its patent infringement lawsuits against Groupon (GRPN), Foursquare, Yelp (YELP) and IZEA in the Eastern District Court of Texas. Judge Rodney Gilstrap presided.
The Markman hearing is a critical step in the patent litigation process in which the Judge is required to construe or interpret the wording of the claims of the patent. The purpose of the court’s construction is to aid the jury in understanding what the patentee meant in the claims and what the claims cover in more common language than is often found in a patent. The Judge’s interpretation of the claims is extremely important because it gives the parties guidance which can allow them to formulate settlement positions.
As is typical in Markman hearings, no ruling was issued from the bench. It is anticipated that the District Court’s ruling will be declared in the next several weeks. The PTAB review which successfully concluded in December required a similar process of defining the terms of the patents. While the District Court has the ability to take reference from the PTABs construction, they are not required to adopt the PTAB’s definition.
Groupon, Inc. operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount worldwide. It also offers deals on products for which it acts as the merchant of record.
Finally, Rex Energy Corporation (NASDAQ:REXX), ended its last trade with -5.59% loss, and closed at $3.55.
Rex Energy Corporation, offered an operational update on the company’s Appalachian Basin operations.
Operational Update
Moraine East Area
In the Moraine East Area, the company has tested the remaining two wells on the four-well Renick pad. The two wells were drilled to an average lateral length of about 5,900 feet, accomplished in an average of 39 stages and utilizing average sand concentrations of 2,350 pounds per foot. The two wells produced at an average 24-hour test rate, assuming full ethane recovery, of about 9.3 MMcfe/d, comprising of 4.0 MMcf/d of natural gas, 790 bbls/d of NGLs and 85 bbls/d of condensate. Based on composition analysis, the gas being produced is about 1,300 BTU.
“We are very happy to see continued strong performance from our new wells in the Moraine East and Legacy Butler areas”, said Tom Stabley, Rex Energy’s Chief Executive Officer. “The Renick wells have further de-risked the area while illustrating improved well response as a result of raised laterals and higher sand concentrations.”
Rex Energy Corporation operates as an independent oil, natural gas liquid, and natural gas company in the Appalachian and Illinois basins in the United States. The company focuses on the Marcellus Shale, Utica Shale, and Burkett Shale drilling and exploration activities in the Appalachian Basin, in addition to on developmental oil drilling and the implementation of improved oil recovery on its properties in the Illinois Basins.
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