On Friday, Following U.S. Stocks were among the “Top Losers”: SFX Entertainment Inc. (NASDAQ:SFXE), Hercules Offshore, Inc. (NASDAQ:HERO), RMG Networks Holding Company (NASDAQ:RMGN), Arch Coal Inc. (NYSE:ACI)
SFX Entertainment Inc (NASDAQ:SFXE), with shares declined -8.01%, closed at $4.30.
Hercules Offshore, Inc (NASDAQ:HERO), with shares dropped -7.72%, settled at $0.405.
RMG Networks Holding Corporation (NASDAQ:RMGN), with shares dipped -7.81%, and closed at $1.77.
Arch Coal Inc (NYSE:ACI), plummeted -7.47%, and closed at $0.879.
Latest NEWS regarding these Stocks are depicted underneath:
SFX Entertainment Inc. (NASDAQ:SFXE)
SFX Entertainment Inc. (SFXE), stated financial results for the three and twelve months ended December 31, 2014.
Reflecting the Corporation’s platform building initiatives, 2014 pro forma proceed (a nonGAAP financial measure, see definition and reconciliation below) rose to $386.2 million from $356.7 million in 2013. Pro forma adjusted EBITDA, for 2014 was a loss of $(3.4) million, contrast with 2013 pro forma adjusted EBITDA of $17.7 million. Comprised of in these results is the influence of noteworthy investments in startup festivals and the Corporation’s platform.
For the year ended December 31, 2014, pro forma attendance for all events and festivals raised 8.9%, with 88 festivals in 2014 contrast to 71 in 2013. Pro forma festival attendance raised 1.5% year over year to about 2.9 million, while attendance at events other than festivals raised 19.5% to about 2.4 million. Not including the biennial Rock in Rio festivals, festival attendance in 2014 grew 18.7% year over year.
Pro forma proceed for the three months ended December 31, 2014 was $95.9 million or 24.8% of total 2014 pro forma proceed, while pro forma adjusted EBITDA was a loss of $(7.7) million, inclusive of investments in the Corporation’s platform.
In the fourth quarter ended December 31, 2014, pro forma same festival attendance (for festivals held in both the 2014 and 2013 fourth quarters), fell 18.5%. The corporation held 24 festivals as compared to 16 in the comparable year-ago period. Fourth quarter pro forma festival attendance declined 8.7% year over year to about 560,000, driven entirely by one large brand. Attendance at events other than festivals raised 7.2% to about 700,000.
SFX Entertainment, Inc. is engaged in the production live events and digital entertainment content that focuses on the electronic music culture (EMC) and other festivals. The corporation produces and promotes live EMC festivals and events; produces music tours; and sells event tickets through a ticketing platform, in addition to provides merchandising and related services.
Hercules Offshore, Inc. (NASDAQ:HERO)
On March 5, Moody’s Investors Service, downgraded Hercules Offshore, Inc. (HERO), Corporate Family Rating (CFR) to Caa2 from B2, the Probability of Default Rating (PDR) to Caa2-PD from B2-PD, and the senior note rating to Caa2 from B3. Moody’s also changed the Speculative Grade Liquidity Rating to SGL-4. The outlook is negative.
“Hercules 4th quarter 2014 results show a clear decline in the earnings power for the corporation’s fleet of rigs, and the recent cancellation of one of its rigs working in the Middle East raises concern that the corporation’s financial position will become precarious as 2015 unfolds,” said Stuart Miller, Moody’s Vice President — Senior Credit Officer. “The corporation’s substantial cash balance may not be sufficient to prevent financial distress in the next 12 to 18 months given the rapidly deteriorating jack-up rig market and Hercules leveraged balance sheet and aging fleet. The downgrade to Caa2 reflects Moody’s view that Hercules may consider a distressed exchange, which Moody’s views as a default.”
Hercules Offshore, Inc., together with its auxiliaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry worldwide.
RMG Networks Holding Company (NASDAQ:RMGN)
On March 9, RMG Networks Holding Company (RMGN), submitted Form 8-K for Results of Operations and Financial Condition, Regulation FD Disclosure.
RMG Networks Holding Corporation, issued a press release declaring selected preliminary unaudited financial information for the quarter and year ended December 31, 2014.
The Corporation has not finalized its financial statement closing process for the fourth quarter of fiscal year 2014. As a result, the information in the Preliminary Results Press Release is preliminary and based upon information accessible to the Corporation as of the date of the Preliminary Results Press Release. Items may be identified during the Corporation’s close process that will require the Corporation to make adjustments. As a result, the estimates comprised in the Preliminary Results Press Release are subject to risks and uncertainties, counting possible adjustments to preliminary operating results.
According to Press Release, Fourth quarter 2014 adjusted proceed is predictable to be about $18.6 million and full year 2014 adjusted proceed is predictable to be about $61.8 million. In addition, the corporation anticipates fourth quarter 2014 adjusted EBITDA to improve sequentially over the third quarter of 2014.
Both of the corporation’s business units are predictable to show strong sequential fourth quarter adjusted proceed growth. In its Enterprise and Media businesses, fourth quarter adjusted proceed2 is predictable to be $13.1 million and $5.5 million, respectively. These preliminary financial results are subject to completion of the corporation’s customary year-end closing and review procedures and audit by the corporation’s independent registered public accounting firm.
These preliminary results are being offered ahead of the corporation’s planned presentation at the 27th Annual ROTH Conference so that administration can talk about updated financial information with the investment community. The Corporation undertakes no obligation to issue preliminary results in the future.
Earnings Release and Conference Call:
RMG Networks will release its full financial results for the fourth quarter and full-year 2014 before the market opens on Thursday, March 19, 2015. Administration will host a conference call to talk about these results on Thursday, March 19, 2015 at 9 a.m. ET.
RMG Networks (NASDAQ:RMGN) assists brands and organizations communicate more effectively using location-based video networks. The corporation builds enterprise video networks that empower organizations to visualize critical data to better run their business.
Arch Coal Inc. (NYSE:ACI)
Among major coal producers (KOL) in the United States, Arch Coal, Inc. (ACI) is the most diversified in terms of geographical and product profile. The corporation produces both met and thermal coal. Arch Coal is part of the SPDR S&P Metals and Mining ETF (XME) and the iShares Russell 3000 ETF (IWV).
Arch Coal has a presence in the following four major US coal producing regions:
- Appalachia (seven active mines)
- Illinois Basin (Viper mine)
- Powder River Basin (Black Thunder and Coal Creek mines)
- Western Bituminous Region (West Elk mine)
Mining operations:
In Appalachia, Arch Coal has 617 million tons of thermal coal reserves and 430 million tons of met coal reserves. In the Illinois Basin, the corporation has 725 million tons of thermal coal reserves.
Arch Coal is the second-largest reserve holder in the Powder River Basin after Peabody Energy Corporation (BTU) with reserves of 3.3 billion tons. Arch Coal operates two surface mines in the Powder River Basin, eight surface and underground mines in Appalachia, and one mine in each of the remaining two regions. The West Elk mine and the Viper mine are together referred to as the Bituminous Thermal segment. Arch Coal sold more than 100 million tons of coal from Black Thunder alone in 2013.
The corporation’s other mine is the PRB is Coal Creek mine. In 2013, the mine produced 8.5 million tons of coal.
Both PRB mines are connected by the Union Pacific Railroad (UNP) and the Burlington Northern Santa Fe Railroad (BRK-B). ACI is part of the iShares Russell 3000 ETF (IWV).
PRB Shipments:
Arch Coal (ACI) sold 29.3 million tons of Powder River Basin coal in 4Q14. This was up from 4Q13’s 26.4 million tons and equal to shipments in 3Q14. The higher shipments were on account of seasonal demand and demand for restocking at utilities.
Rail performance in the region improved in 4Q14, assisting coal producers in the region. The corporation sold 111.2 million tons of Powder River Basin coal in 2014, marginally lower than 2013’s 111.7 million tons.
Price per ton:
Proceed per ton for Powder River Basin coal came in at $12.86 in 4Q14, higher than $12.28 per ton in 4Q13. However, pricing was lower contrast to 3Q14’s $13.03 per ton since warmer weather led to a drop in natural gas prices close to $3 per million British thermal units (or MMBtu).
The fall in natural gas prices is negative for coal since natural gas is a replacement for coal in electricity generation. The price per ton for 2014 came in at $12.86, up from $12.44 for 2013.
Arch Coal, Inc. produces and sells thermal and metallurgical coal from surface and underground mines located in the United States. As of December 31, 2014, it operated or contracted out the operation of 16 mines; and owned or controlled about 5.1 billion tons of proven and probable recoverable reserves.
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