On Friday, BB&T Corporation (NYSE:BBT)’s shares inclined 1.59% to $40.31.
BB&T (BBT) declared it has accomplished its acquisition of The Bank of Kentucky Financial Corporation. Systems were converted during the weekend and branches in northern Kentucky and Cincinnati opened recently under the BB&T name.
The acquisition, which was declared in September 2014, comprises 32 retail branches in northern Kentucky and Cincinnati. The merger comprises $1.6 billion in deposits, $1.3 billion in loans and total assets of $1.9 billion based on March 31, 2015, balances. BB&T received the required regulatory approvals for the acquisition earlier this year.
BB&T Corporation operates as a financial holding company that provides various banking and trust services for retail and commercial clients. It operates in six segments: Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, and Financial Services. The company’s deposit products comprise noninterest-bearing checking accounts, interest-bearing checking accounts, savings accounts, money market deposit accounts, certificates of deposit, and individual retirement accounts.
Orbitz Worldwide, Inc. (NYSE:OWW)’s shares dropped -0.26% to $11.45.
Orbitz Worldwide, Inc. (OWW) declared the company`s financial results for the second quarter and six months ended June 30, 2015 through an earnings release that is accessible on the Orbitz Worldwide Investor Relations website at investors.orbitz.com. The earnings release is also accessible on the Securities and Exchange Commission`s website at www.sec.gov.
As a result of the February 12, 2015 declared transaction with Expedia, Inc., the company will not hold a conference call to talk about its second quarter results.
Orbitz Worldwide, Inc. operates as an online travel company worldwide. It uses technology that enables leisure and business travelers to research, plan, and book a range of travel products and services, counting hotels, flights, vacation packages, car rentals, rail tickets, cruises, travel insurance, destination, services and event tickets. It also provides various travel administration services; and private label travel solutions to a range of partners.
At the end of Friday’s trade, Laredo Petroleum Inc (NYSE:LPI)‘s shares dipped -2.11% to $9.30.
Laredo Petroleum, Inc. (LPI) declared its 2015 second-quarter results, reporting a net loss attributable to common stockholders of $397.0 million, or $1.88 per diluted share, which comprises a pre-tax, non-cash full cost ceiling impairment charge of $488.0 million. Adjusted Net Income, a non-GAAP financial measure, for the second quarter of 2015 was $9.8 million, or $0.05 per diluted share. Adjusted EBITDA, a non-GAAP financial measure, for the second quarter of 2015 was $117.9 million.
2015 Second-Quarter Highlights
- Produced 46,532 barrels of oil equivalent (“BOE”) per day, up about 38% from the comparable second quarter of 2014.
- Generated Adjusted EBITDA of $117.9 million, flat with second-quarter 2014 as production growth and cost controls overcame a 46% decrease in realized oil prices.
- Reduced unit cash costs to $13.52 per BOE, a decrease of about 28% from the second-quarter 2014 rate of $18.85 per BOE, on a three-stream basis.
Laredo Petroleum, Inc. operates as an independent energy company in the United States. It focuses on the acquisition, exploration, and development of oil and natural gas properties primarily in the Permian Basin in west Texas. As of December 31, 2014, it had interests in the 196,683 net acres in the Permian Basin; and had total proved reserves of 247,322 thousand barrels of oil equivalent.
MRC Global Inc (NYSE:MRC), ended its Friday’s trading session with 1.41% gain, and closed at $12.93.
MRC Global Inc. (MRC), the largest global distributor, based on sales, of pipe, valves and fittings (PVF) and related products and services to the energy industry, declared second quarter 2015 results.
The company’s sales were $1.198 billion for the second quarter of 2015, which were 20% lower than the second quarter of 2014 and 7.3% lower than the first quarter of 2015. The decline was driven primarily by reduced activity in the upstream sector. Sales were also negatively influenced by the strengthening of the U.S. dollar, which reduced stated sales by $40.8 million. Net income accessible to common stockholders, which is net income less dividends attributable to preferred stockholders, for the second quarter of 2015 was $15.0 million, or $0.15 per diluted share, contrast to $39.3 million, or $0.38 per diluted share for the second quarter of 2014. Adjusted net income accessible to common stockholders, adjusted for certain severance, restructuring and finance charges for the second quarter of 2015, was $23.0 million, or $0.22 per diluted share, contrast to $42.9 million, or $0.42 per diluted share for the second quarter of 2014. Please refer to the reconciliation of adjusted net income accessible to common stockholders (a non‑GAAP measure) to net income accessible to common stockholders (a GAAP measure) in this release.
MRC Global Inc., through its auxiliaries, distributes pipes, valves, fittings, and related products and services to the energy and industrial sectors in the Unites States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, in addition to steam and instrumentation products.
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