On Tuesday, MGM Resorts International (NYSE:MGM)’s shares declined -5.31% to $20.14.
MGM Resorts International (MGM) stated financial results for the quarter ended March 31, 2015.
Key results for the first quarter of 2015 comprise the following:
- Net revenue at the Company’s wholly owned domestic resorts was $1.6 billion, an enhance of half a percent contrast to the preceding year quarter;
- Slots revenue at wholly owned domestic resorts raised 5% contrast to the preceding year quarter;
- Rooms revenue at wholly owned domestic resorts raised 2% with a 1% enhance in REVPAR(1)at the Company’s Las Vegas Strip resorts contrast to the preceding year quarter;
- The Company’s wholly owned domestic resorts earned Adjusted Property EBITDA(2)of $390 million, a 3% decrease contrast to the preceding year quarter, partially due to a decrease in table games hold percentage;
MGM Resorts International, through its auxiliaries, owns and/or operates casino resorts. It operates through two segments, Wholly Owned Domestic Resorts and MGM China. The company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
Westlake Chemical Corporation (NYSE:WLK)’s shares dropped -5.22% to $70.50.
Westlake Chemical Corporation (WLK) stated net income for the first quarter of 2015 of $146.3 million, or $1.10 per diluted share, on net sales of $1,103.5 million. This represents a decrease in net income of $11.7 million, or $0.08 per diluted share, contrast to the quarter ended March 31, 2014 net income of $158.0 million, or $1.18 per diluted share, on net sales of $1,027.7 million. Net sales for the first quarter of 2015 raised by $75.8 million contrast to net sales for the first quarter of 2014, mainly attributable to sales contributed by Vinnolit, our specialty PVC resin business, which we attained in July 2014, partially offset by lower sales prices for our major products. Income from operations was $229.3 million for the first quarter of 2015 as contrast to $248.1 million for the first quarter of 2014. Income from operations for the first quarter of 2015 benefited from improved vinyls integrated product margins, mainly as a result of the cost-advantaged ethane feedstock presently utilized at the Calvert City, Kentucky ethylene plant following the completion of a feedstock conversion and ethylene expansion project, improved production rates at the Geismar, Louisiana chlor-alkali plant and the contribution from Vinnolit as contrast to the first quarter of 2014. However, this benefit was more than offset by lower olefins integrated product margins as a result of lower sales prices in the first quarter of 2015 as contrast to the preceding-year period. Sales prices in the first quarter of 2015 were negatively influenced by the noteworthy decline in crude oil prices.
Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated building products. It operates through two segments, Olefins and Vinyls.
At the end of Tuesday’s trade, International Paper Co (NYSE:IP)‘s shares dipped -5.19% to $50.95.
International Paper Co (IP) Chairman and Chief Executive Officer Mark S. Sutton, will speak at the Deutsche Bank Global Industrials and Basic Materials Conference on June 3, 2015, in Chicago. The presentation is planned to start at 3:40pm CT and will be followed by a question and answer session. All interested parties are invited to view the presentation and/or listen to the webcast live via International Paper’s Internet site http://www.internationalpaper.com by clicking on the “Investors” tab and then clicking on the “Webcasts & Presentations” link.
International Paper Company operates as a paper and packaging company in North America, Europe, Latin America, Russia, Asia, Africa, and the Middle East. The company operates through three segments: Industrial Packaging, Printing Papers, and Consumer Packaging.
Newfield Exploration Co. (NYSE:NFX), ended its Tuesday’s trading session with -5.13% loss, and closed at $36.99.
Newfield Exploration Co. (NFX) stated its unaudited first quarter 2015 financial results and offered an update on its operations. Newfield also offered an updated @NFX publication on its website. Newfield plans to host a conference call at 10:00 a.m. CDT on May 6, 2015. To listen to the call and to view the slide deck please visit Newfield’s website at http://www.newfield.com. To take part in the call, dial 913-312-0968 and enter conference code 1677827.
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. T
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