On Monday, Following Stocks were among the “Top 100 Gainers” of U.S. Stock Market: Quiksilver Inc. (NYSE:ZQK), Chesapeake Energy Corporation (NYSE:CHK), TravelCenters of America LLC (NYSE:TA), Zendesk, Inc. (NYSE:ZEN)
Quiksilver Inc. (NYSE:ZQK), with shares inclined 7.55%, closed at $2.28.
Chesapeake Energy Corporation (NYSE:CHK), with shares jumped 3.67%, settled at $14.11.
TravelCenters of America LLC (NYSE:TA), with shares climbed 7.36%, and closed at $17.22, hitting new 52-week high of $17.50.
Zendesk, Inc. (NYSE:ZEN), surged 3.65%, and closed at $22.98.
Latest NEWS regarding these Stocks are depicted underneath:
Quiksilver Inc. (NYSE:ZQK)
Quiksilver Inc. (ZQK), declared financial results for the fiscal 2015 first quarter ended January 31, 2015.
First Quarter Review:
The following comparisons refer to results of ongoing operations for the first quarter of fiscal 2015 as compared to the first quarter of fiscal 2014.
Net proceeds, as stated, were $341 million contrast with $395 million. Net proceeds were down 4%, or $14 million, on a constant currency ongoing category basis.
Americas net proceeds, as stated, were $148 million contrast with $175 million. Americas net proceeds were down 8%, or $13 million, on constant currency ongoing category basis.
EMEA net proceeds, as stated, were $126 million contrast with $149 million. EMEA net proceeds were down 3%, or $3 million, on constant currency ongoing category basis.
APAC net proceeds, as stated, were $67 million contrast with $70 million. APAC net proceeds were up 4%, or $2 million, on constant currency ongoing category basis.
Gross margin reduced to 49.7% from 50.8%. The 110 basis point decline in gross margin reflects higher discounting, the unfavorable influence of currency exchange rates, and higher freight and distribution costs related to the West coast ports labor dispute, partially offset by the favorable influence of higher sales mix in direct to consumer channels.
SG&A expense reduced $33 million to $171 million from $204 million. The decrease was primarily driven by currency exchange rates, reduced employee compensation, rent, distribution and legal expenses.
Pro-forma Adjusted EBITDA was $10 million contrast with $16 million.
Net loss from ongoing operations attributable to Quiksilver, Inc. was $18 million, or $0.11 per share, contrast with $22 million, or $0.13 per share.
Cash and availability on credit facilities at the end of the quarter was $141 million.
Outlook:
The Corporation updated its fiscal 2015 guidance for ongoing operations to incorporate February 2015 currency exchange rates and offered guidance for its fiscal 2015 second quarter, as follows:
Fiscal 2015 second quarter net proceeds are predictable to be about $340 million, which is flat to last year’s second quarter on a constant currency ongoing category basis. Gross margins are predictable to be about 48.0%. SG&A, not including any restructuring and special charges, is predictable to be about $175 million. Pro-forma Adjusted EBITDA is predictable to be about $8 million.
Fiscal year 2015 net proceeds are predictable to be about $1.38 billion to $1.45 billion, which is an raise of about 1% to 6% on a constant currency ongoing category basis as compared to the preceding year. Gross margins are predictable to be between 48.5% and 50%. SG&A, not including any restructuring and special charges, is predictable to be between $685 million and $700 million. Pro-forma Adjusted EBITDA is predictable to be between $70 million and $80 million. This revision of 2015 fiscal year guidance is driven by changes in currency exchange rates since October 2014, in addition to additional cost reduction initiatives.
The foregoing outlook updates and supersedes all previous guidance offered by the Corporation.
Quiksilver, Inc. designs, develops, and distributes branded apparel, footwear, accessories, and related products primarily for men, women, and children. The corporation provides its products for various activities, counting casual and outdoor lifestyle associated with surfing, skateboarding, snowboarding, BMX and motocross, rally car, and other activities.
Chesapeake Energy Corporation (NYSE:CHK)
Chesapeake Energy Corporation (CHK), declared it has reduced its 2015 capital budget (counting capitalized interest of $500 million) to $3.5 – $4.0 billion for 2015, which is a $500 million reduction from its previous guidance of $4.0 – $4.5 billion. Chesapeake plans to operate 25 – 35 rigs in 2015, which represents a decrease of about 55% from an average of 64 rigs in 2014. The corporation intends to spud and connect to sales about 520 and 650 gross operated wells, respectively, in 2015 (a decrease from 1,175 and 1,150 wells in 2014). As a result, the corporation is lowering its targeted 2015 production to 231 – 236 million barrels of oil equivalent, or average daily production of 635 – 645 thousand barrels of oil equivalent, which represents 1 – 3% production growth over the preceding year after adjusting for 2014 asset sales.
Doug Lawler, Chesapeake’s Chief Executive Officer, said, “We entered 2015 with a strong liquidity position and we intend to manage it prudently. In response to continued weak commodity prices, we are further reducing capital expenditures and associated drilling activity. As a result, we now forecast ending 2015 with about $6 billion in combined cash and borrowing capacity under our credit facility. With this budget revision we anticipate being free cash flow neutral by the end of 2015.”
Chesapeake Energy Corporation engages in the attainment, exploration, and development of properties for the production of oil, natural gas and natural gas liquids (NGL) from underground reservoirs in the United States.
TravelCenters of America LLC (NYSE:TA)
TravelCenters of America LLC (TA), and Petro Stopping Centers® travel center brands, has declared that Tom Liutkus, Vice President of Marketing and Public Relations for TravelCenters, has been designated Vice-Chairman of the American Trucking Associations’ (ATA) Communications and Image Policy Committee. The ATA Communications and Image Policy Committee’s purpose is to improve the image of the trucking industry and develop communications strategies for ATA policy and legislative initiatives. The committee also assists enhance ATA’s communications with its members, the news media and the general public.
According to the ATA, their mission is to serve and represent the trucking industry with a single, united voice to influence policies beneficial to the industry; promote safety on America’s highways; improve the industry’s image, efficiency, and competitiveness; educate the public about the critical role trucking plays in the economy; research noteworthy industry issues all while striving for a healthy business environment.
Tom Liutkus has been with TravelCenters and its predecessors for over 35 years.
TravelCenters of America LLC operates and franchises travel centers primarily along the United States interstate highway system. The corporation offers diesel fuel and gasoline, and diesel exhaust fluid; and operates full service restaurants under the Iron Skillet and Country Pride brands, in addition to quick service restaurants primarily under Arby’s, Burger King, Dunkin’ Donuts, Godfather’s Pizza, Pizza Hut, Popeye’s Chicken & Biscuits, Starbuck’s Coffee, Subway, and Taco Bell brand names.
Zendesk, Inc. (NYSE:ZEN)
Zendesk, Inc. (ZEN), declared the pricing of a follow-on offering of 8,530,000 shares of its ordinary stock at a price to the public of $22.75 per share. Zendesk is offering 7,500,000 shares and selling stockholders are offering 1,030,000 shares. In addition, Zendesk has granted the underwriters a 30-day option to purchase up to an additional 1,279,500 shares of ordinary stock from Zendesk. Zendesk will not receive any proceeds from the sale of shares by the selling stockholders.
Goldman, Sachs & Co., Morgan Stanley & Co. LLC, BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering. Pacific Crest Securities LLC, Canaccord Genuity Inc. and JMP Securities LLC are acting as co-managers.
Zendesk, Inc., a software development corporation, provides software as a service customer service platform for organizations. It provides single customer service interface to organizations to manage all their one-on-one customer interactions; track and predict ordinary questions; and provide a seamless path to answers.
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