On Wednesday, Stone Energy Corporation (NYSE:SGY)’s shares inclined 2.35% to $6.11.
Stone Energy Corporation (SGY) offered a drilling and production update. In the Gulf of Mexico deepwater, operations at the Cardona #6 development well, located in Mississippi Canyon block 29, have been proceeding ahead of plan and below budget, and drilling has been accomplished through the targeted zones. The well encountered about 288 feet of net pay in two intervals, similar to the Cardona #5 net pay of 275 feet. Analysis of logging and pressure data confirmed the existence of oil in the pay zones. The well has been successfully cased and cemented across all productive zones, the subsea tree has been installed and completion operations have begun. The well will be tied into our existing Cardona subsea infrastructure, which flows into Stone’s Pompano platform. It is predictable that gross production from Cardona #6 will reach about 5,000 Boe per day (65% working interest) from the lower completion by late September.The upper completion is predictable to have a similar production rate and will be accessed in the future by hydraulically shifting sleeves between the upper and lower completions.
Upon completion of the Cardona #6 well, the ENSCO 8503 deepwater drilling rig will be released for about 60 days to receive planned maintenance and to be outfitted with mooring capabilities. The rig will then be mobilized to Mississippi Canyon block 26 to finish the completion of the Amethyst discovery (100% working interest). Amethyst will also be tied back to the Pompano platform, where first production is predictable early in the first quarter of 2016. Following the Amethyst completion, the rig is presently projected to drill the Cardona #7 development well and the Lamprey deep water exploration prospect.
Stone Energy Corporation, an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and operation of oil and gas properties in the Gulf of Mexico and the Appalachia region. As of December 31, 2014, it had estimated proved oil and natural gas reserves of about 915 billion cubic feet of gas equivalent. The company was founded in 1993 and is headquartered in Lafayette, Louisiana.
Trimble Navigation Limited (NASDAQ:TRMB)’s shares dropped -2.01% to $19.51.
Trimble (TRMB) declared financial results for the second quarter of 2015.
Second Quarter 2015 Financial Summary
Second quarter 2015 revenue of $585.8 million was down 9 percent as contrast to the second quarter of 2014. Engineering and Construction revenue was $338.5 million, down 8 percent. Field Solutions revenue was $87.1 million, down 24 percent. Mobile Solutions revenue was $128.3 million, up 4 percent. Advanced Devices revenue was $31.9 million, down 13 percent. Foreign currency translation unfavorably influenced company revenue by about 4 percent as contrast to the second quarter of 2014.
GAAP operating income was $36.0 million, down 63 percent as contrast to the second quarter of 2014. GAAP operating margin was 6.1 percent of revenue as contrast to 15.1 percent of revenue in the second quarter of 2014.
Trimble Navigation Limited provides technology solutions to enhance the work processes of office and mobile field professionals worldwide. The company’s Engineering and Construction segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; BIM software for design, construction, and maintenance; integrated site layout and measurement systems; application products; integrated workplace administration services software; capital program and facility administration solutions; and field based data collection systems and software, communications systems, and back-office software.
At the end of Wednesday’s trade, Solera Holdings Inc (NYSE:SLH)‘s shares dipped -3.60% to $42.29.
Solera Holdings, Inc. (SLH) declared it has attained Autodata B.V. (“Autodata”), a leading provider of vehicle valuation, inventory administration and workflow software for automotive dealers and leasing companies in the Netherlands.
Autodata’s fully integrated suite of vehicle valuation, inventory administration and marketing services provides data on about one in every four pre-owned cars for sale in the Dutch marketplace. In addition to enhancing its customer value proposition, Solera plans to leverage Autodata’s proprietary data to establish a standardized vehicle valuation methodology across Europe. Autodata’s solutions will also be integrated with Solera’s risk and asset administration solutions that bring together property insurers, auto dealers, vehicle mechanics, car manufacturers and consumers into one digital marketplace.
Solera Holdings, Inc. provides software and services to insurance companies, collision repair facilities, independent assessors, automotive recyclers, auto dealers, and households. The company offers estimating and workflow software that manages the overall claims process, estimates the cost to repair a damaged vehicle, and calculates the pre-collision fair market value of a vehicle; and salvage, salvage disposition, and recycling software that connects buyers and sellers through an electronic auction network.
Leucadia National Corp. (NYSE:LUK), ended its Wednesday’s trading session with 0.74% gain, and closed at $23.14.
Leucadia National Corporation (LUK) declared its financial results for the three and six month periods ended June 30, 2015. Adjusted net income attributable to Leucadia National Corporation common shareholders, which excludes the operating results of Jefferies’ Bache business, was $42.3 million, or $0.11 per diluted share, for the second quarter, and $430.1 million, or $1.12 per diluted share, for the six months ended June 30, 2015. Counting the results of the Bache business, net income attributable to Leucadia National Corporation common shareholders was $16.4 million, or $0.04 per diluted share, for the second quarter, and $397.2 million, or $1.04 per diluted share, for the six months ended June 30, 2015.
Financial Services Businesses
Jefferies stated strong second quarter revenues, with investment banking revenues in excess of $400 million, an enhance of 49% contrast to this year’s first quarter and 22% as compared to the second quarter last year. Equity net revenues were also strong, and Fixed income net revenues, not taking into account Bache, reflected a 56% enhance over the slow first quarter.
In April, Jefferies agreed with Societe General S.A. to transfer certain of the client activities of its Bache business. During the second quarter, Jefferies transferred about 50% of Bache’s client accounts to Societe General S.A. and other brokers, and anticipates to be substantially complete by the end of the summer.
Leucadia National Corporation, through its partner, Jefferies Group LLC, primarily operates in the investment banking and capital markets sector. Leucadia National Corporation also owns and holds investments in various other businesses, counting beef processing, manufacturing, energy projects, asset administration, and real estate. It offers equities research, sales, and trading services; financing, securities lending, and other prime brokerage services; wealth administration services; fixed income sales and trading services; futures, foreign exchange, and commodities trading services; and equity and debt capital markets services, in addition to provides mergers and acquisition, and restructuring and recapitalization services in the Americas, Europe, and Asia.
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