On Friday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -3.46% to $8.66, as crude-oil futures finished the month deeper in bear-market territory Friday, registering its worst monthly slide, on a percentage basis, since 2008 after a report indicated a rise in rig counts, according to Market Watch.
September Brent crude oil - the international benchmark—on the ICE Futures exchange lost $1.10, or 2.1%, down to settle at 52.21 a barrel. For the week, Brent is down about 5% and has given up more than 18% in July according to FactSet data.
The dollar has been pressuring crude oil prices all week. Although the dollar index is about flat for the week it is up 1.8% for the month. Market Watch Reports
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas.
Shares of Host Hotels & Resorts, Inc. (NYSE:HST), declined -0.87% to $19.38, during its last trading session, hitting its lowest level.
Host Hotels & Resorts declared results of operations for the second quarter of 2015.
Second quarter 2015 results reflect the following:
- On a constant dollar basis, RevPAR at the Company’s international properties reduced 5.9% for the second quarter and 1.3% year-to-date. The decline was primarily due to difficult comparisons for the JW Marriott Hotel Rio de Janeiro due to the FIFA World Cup that affected results in the second and third quarter of 2014, in addition to renovation disruption during 2015 at the Calgary Marriott Downtown Hotel. For the second quarter, on a constant dollar basis, and not taking into account the Rio de Janeiro and Calgary properties, RevPAR raised 9.5% for the remaining 10 international properties.
- Comparable hotel EBITDA margins raised 25 basis points to nearly 30% for the quarter and 40 basis points to 28% year-to-date, which drove the growth in comparable hotel EBITDA of 4.8% and 5.1%, respectively. The Company’s EBITDA margins were negatively influenced by 20 basis points in both the quarter and year-to-date due to the formerly revealed adoption, on January 1, 2015, of the 11th Edition of the Uniform System of Accounts for the Lodging Industry (USALI).
- Total revenues raised 1.3% for the quarter and 0.9% year-to-date, reflecting revenue growth of 4.0% for the quarter and 3.6% year-to-date at the Company’s comparable properties, partially offset by dispositions and disruption due to noteworthy redevelopment projects for its non-comparable properties. The net effect of the acquisition and disposition activity resulted in a net decrease in total revenues of $20 million for the quarter and $41 million year-to-date 2015.
Host Hotels & Resorts, Inc. is a publicly owned real estate investment trust (REIT). The firm primarily engages in the ownership and operation of hotel properties.
Finally, New Residential Investment Corp. (NYSE:NRZ), ended its last trade with -0.32% loss, and closed at $15.69.
New Residential Investment declared that it will release its second quarter financial results for the period ended June 30, 2015 on Thursday, August 6, 2015 preceding to the opening of the New York Stock Exchange.
In addition, administration will host a conference call on Thursday, August 6, 2015 at 8:00 A.M. Eastern Time.
New Residential Investment Corp., a real estate investment trust (REIT), focuses on investing in and managing residential mortgage related assets. It operates through Servicing Related Assets, Residential Securities and Loans, and Other Investments segments.
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