On Tuesday, Shares of Entergy Corporation (NYSE:ETR), loss -2.92% to $75.55.
Entergy Corporation, stated first quarter 2015 earnings per share of $1.65 on an as-stated basis and $1.68 on an operational basis, contrast to first quarter 2014 as-stated EPS of $2.24 and operational EPS of $2.29.
Business highlights for the quarter comprised of the following:
- Arkansas Governor Asa Hutchinson signed legislation that establishes a forward test year formula rate plan and provides additional considerations in setting the return on equity. This legislation should result in more efficient rate making, and allow Entergy Arkansas, Inc. to focus time and resources on activities that create sustainable value for the state, counting job growth. Subsequent to quarter-end, on April 24, Entergy Arkansas filed a rate case applying this legislation.
- In Mississippi, Governor Phil Bryant signed a bill into law that facilitates Entergy Mississippi, Inc.’s investment in electrical infrastructure at projected economic development sites, even before a specific customer has been identified – and in doing so, supports growth and job creation in the state.
- Indian Point Energy Center Unit 3 accomplished its refueling outage in 23 days, its shortest outage on record.
Entergy Corporation, together with its auxiliaries, engages in the electric power production and retail electric distribution operations in the United States. It operates in two segments, Utility and Entergy Wholesale Commodities.
Shares of Cypress Semiconductor Corporation (NASDAQ:CY), declined -2.91% to $12.70, during its last trading session.
Cypress Semiconductor, declared the retirement of J. Daniel McCranie, Cypress’s executive vice president of Sales and Applications, culminating a 23-year relationship that began in 1993 when McCranie joined Cypress as its EVP of Sales and Marketing. McCranie left Cypress in 2001 but rejoined the company as a member of the Cypress board of directors from 2006-2014 and in his current capacity from 2014-2015.
Preceding to his initial tenure with Cypress, McCranie was the chairman of Freescale Corporation, Actel Corporation and Xicor, the CEO and chairman of Virage Logic, and the Chairman, President and CEO of SEEQ Technology. He has held administration positions in engineering and sales and marketing at Harris Corp., Advanced Micro Devices, American Microsystems Ltd. and Philips Corp. McCranie presently serves as chairman of the board of ON Semiconductor Corp. and is also a member of the board of directors of Mentor Graphics Inc.
Cypress Semiconductor Corporation provides mixed-signal programmable solutions, specialized semiconductor memories, and integrated semiconductor solutions worldwide.
At the end of Tuesday’s trade, Shares of Equity Residential (NYSE:EQR), dipped -2.89% to $73.03.
Equity Residential, stated results for the quarter ended March 31, 2015. All per share results are stated as accessible to common shares on a diluted basis.
First Quarter 2015
FFO (Funds from Operations), as defined by the National Association of Real Estate Investment Trusts (NAREIT), for the first quarter of 2015 was $0.79 per share contrast to $0.71 per share in the first quarter of 2014.
For the first quarter of 2015, the company stated Normalized FFO of $0.79 per share contrast to $0.71 per share in the same period of 2014. The following items influenced Normalized FFO per share in the quarter:
- a positive impact of about $0.07 per share from higher same store net operating income (NOI) and about $0.02 per share from NOI from non-same store properties presently in lease-up;
- a positive impact of about $0.01 per share from lower interest expense primarily due to higher capitalized interest in the first quarter of 2015; and
- a negative impact of about $0.02 per share from the timing of the company’s 2014 and 2015 transaction activity and other items.
Normalized FFO starts with FFO and eliminates certain items that by their nature are not comparable from period to period or that tend to obscure the company’s actual operating performance.
Same Store Results
On a same store first quarter to first quarter comparison, which comprises 97,586 apartment units, revenues raised 5.0%, expenses raised 1.4% and NOI raised 7.0%.
Equity Residential, a real estate investment trust (REIT), engages in the acquisition, development, and administration of multifamily properties in the United States. As of December 31, 2007, it owned and invested in 579 properties in 24 states and the District of Columbia comprising of 152,821 units. The company qualifies as a REIT for federal income tax purposes.
Finally, SolarCity Corporation (NASDAQ:SCTY), ended its last trade with -2.88% loss, and closed at $59.28.
SolarCity Corporation, revealed financial and operating results for the first fiscal quarter ended March 31, 2015.
On other hand, SolarCity declared it has closed a $500 million financing aggregation facility with BofA Merrill Lynch, Credit Suisse and Deutsche Bank. The loan facility is predictable to be the largest of its kind for distributed generation solar projects, and once deployed will finance more than 500 MW of solar power systems for homeowners, businesses and government organizations.
The facility will be secured by a portfolio of high quality, long-term customer systems and contracts. Through a novel structure, the financing will allow SolarCity to fund customer installations at an earlier stage in their development cycle, enabling a faster return of working capital to support the rapid growth in SolarCity’s forecasted installations. When fully drawn, SolarCity will be able to finance installations for tens of thousands of homes and businesses throughout the United States. The clean energy offered by these systems will offset carbon dioxide emissions over the lifetime of the systems.
The revolving loan will permit fully developed systems to be continuously refinanced through ongoing securitizations or other capital markets solutions, further driving down the cost of a new system to residential, commercial and government customers, while providing committed capital for SolarCity to finance the design and installation of new systems.
SolarCity Corporation designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States.
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