On Wednesday, Yelp Inc (NYSE:YELP)’s shares inclined 3.76% to $24.28.
Yelp Inc. (YELP), the company that connects consumers with great local businesses, recently declared that Max Levchin has resigned as Chairman and Director to pursue other interests, effective right away.
The Board has not yet designated a new Chairman but plans to consider the issue at the next Board meeting in September.
Yelp Inc. operates a platform that connects people with local businesses in the United States. Its platform covers various local business categories, counting restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others categories. The company provides local advertising services, counting free and paid business listing services to businesses of various sizes, in addition to enable businesses to deliver targeted search advertising to large local audiences through its Website and mobile app. It also offers brand advertising services comprising advertising solutions for national brands in the food and restaurant, automobile, financial services, logistics, consumer goods, and health and fitness industries that want to improve their local presence in the form of display advertisements and brand sponsorships.
United Rentals, Inc. (NYSE:URI)’s shares gained 3.09% to $67.36.
United Rentals, Inc. (URI) declared financial results for the second quarter 2015. Total revenue was $1.429 billion and rental revenue was $1.220 billion, contrast with $1.399 billion and $1.179 billion, respectively, for the same period last year. On a GAAP basis, the company stated second quarter net income of $86 million, or $0.88 per diluted share, contrast with $94 million, or $0.90 per diluted share, for the same period last year.1
Adjusted EPS2 for the quarter was $1.95 per diluted share, contrast with $1.65 per diluted share for the same period last year. Adjusted EBITDA3 was $706 million and adjusted EBITDA margin was a second quarter company record at 49.4%, an enhance of $43 million and 200 basis points, respectively, from the same period last year.
Second Quarter 2015 Highlights
- Rental revenue (which comprises owned equipment rental revenue, re-rent revenue and ancillary items) raised 3.5% year-over-year.4Within rental revenue, owned equipment rental revenue raised 3.7%, reflecting year-over-year enhances of 2.8% in the volume of equipment on rent and 1.5% in rental rates.
- Return on invested capital was 8.9% for the 12 months ended June 30, 2015, an enhance of 0.8 percentage points from the 12 months ended June 30, 2014.
- Time utilization reduced 150 basis points year-over-year to 66.6%. Not taking into account the branches with the most exposure to upstream oil and gas, time utilization reduced 30 basis points year-over-year.
United Rentals, Inc., through its auxiliaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench Safety, Power and HVAC (heating, ventilating and air conditioning), and Pump Solutions. The company offers about 3,300 classes of equipment for rent to construction and industrial companies, manufacturers, utilities, municipalities, homeowners, government entities, and other customers.
At the end of Wednesday’s trade, Sangamo Biosciences, Inc. (NASDAQ:SGMO)‘s shares dipped -6.54% to $7.15.
Sangamo BioSciences, Inc. (SGMO), a leader in therapeutic genome editing, declared that the company and its collaborator, Shire plc (LSE: SHP, NASDAQ: SHPG), have agreed to revise their January 2012 partnership and license agreement to expedite the development of ZFP Therapeutics for hemophilia A and B and Huntington’s disease.
The decision to restructure reflects a planned decision by both Shire and Sangamo to focus efforts in areas of current interest and expertise for each company. Under the revised terms of the agreement, Shire will return to Sangamo the exclusive world-wide rights to gene targets for the development, clinical testing and commercialization of ZFP Therapeutics for hemophilia A and B. Shire will retain rights and will continue to develop ZFP Therapeutic clinical leads for Huntington’s disease and a ZFP Therapeutic for one additional gene target yet to be named. Shire’s rights with respect to other targets contemplated in the original agreement revert to Sangamo.
Under the revised agreement, each company is responsible for expenses associated with its own programs and will reimburse the other for any ongoing services offered. Sangamo has granted Shire a right of first negotiation to license the hemophilia A and B programs. No milestone payments will be made on any program and each company will pay certain royalties to the other on commercial sales up to a specified maximum cap. Additional financial details of the agreement will not be revealed.
WEC Energy Group Inc (NYSE:WEC), ended its Wednesday’s trading session with -0.13% loss, and closed at $46.70.
Who:
Gale E. Klappa, chairman and chief executive officer of WEC Energy Group
(WEC)
What:
Barclays CEO Energy-Power Conference
Klappa will present an overview of WEC Energy Group’s business strategy and provide an update on the company’s financial outlook.
When:
Wednesday, Sept. 9, at 1:25 p.m. Central time
WEC Energy Group, Inc., through its auxiliaries, generates and distributes electric energy. The company operates in two segments, Utility Energy and Non-Utility Energy. It generates electricity from coal, natural gas, oil, hydroelectric, wind, and biomass. The company provides electric utility services to customers in the paper, foundry, food products, and machinery production industries, in addition to the retail chains.
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