On Thursday, Cloud Peak Energy Inc. (NYSE:CLD)’s shares inclined 0.93% to $3.26.
Cloud Peak Energy Inc. (CLD), one of the largest U.S. coal producers and the only pure-play Powder River Basin (“PRB”) coal company, recently declared results for the second quarter and first six months of 2015.
- Second quarter 2015 Adjusted EBITDA of $10.6 million contrast to $45.2 million for the second quarter of 2014.
- Shipments for the second quarter of 2015 were 16.0 million tons, down from 20.6 million tons for the same period in 2014 due to weather-related impacts to the railroads and mines, together with Cordero Rojo Mine transitioning to lower production levels.
- Cost per ton was $10.75 in the second quarter of 2015, increasing from $10.48 in the second quarter of 2014. The higher unit costs were primarily attributed to lower shipments.
- A $33.4 million non-cash impairment charge regarding goodwill from a 1997 acquisition was recorded at the Company’s 8400 Btu Cordero Rojo Mine.
- The final lease by application (“LBA”) payments of $69 million were made in June resulting in no further committed payments going forward.
Cloud Peak Energy Inc., through its auxiliaries, produces coal in the Powder River Basin (PRB) and the United States. The company operates through Owned and Operated Mines, Logistics and Related Activities, and Corporate and Other segments. It produces and sells sub-bituminous thermal coal with low sulfur content primarily to electric utilities operating in the United States and internationally.
Standard Pacific Corp. (NYSE:SPF)’s shares dropped -0.22% to $8.88.
Standard Pacific Corp. (SPF) declared results for the second quarter ended June 30, 2015.
2015 Second Quarter Highlights and Comparisons to 2014 Second Quarter
- Net new orders of 1,567, up 10%; Dollar value of net new orders up 26% (not taking into account Q2 2014 acquisition).
- Backlog of 2,572 homes, up 12%; Dollar value of backlog up 30%.
- 203 average active selling communities, up 11%.
- 1,305 new home deliveries, up 6%.
- Average selling price of $532 thousand, up 11%.
- Home sale revenues of $694.7 million, up 17%.
- Gross margin from home sales of 24.6%, contrast to 26.6%.
- Operating margin from home sales of $90.8 million, or 13.1%, contrast to $89.7 million, or 15.2%.
- Net income of $57.2 million, or $0.14 per diluted share, vs. net income of $56.5 million, or $0.14 per diluted share.
- $190.0 million of land purchases and development costs, contrast to $212.0 million.
- Results comprise $5.2 million of transaction costs related to the projected merger with The Ryland Group, Inc.
Standard Pacific Corp. operates as a builder of single-family attached and detached homes in the United States. It constructs homes for various homebuyers primarily move-up buyers in metropolitan markets in California, Florida, the Carolinas, Texas, Arizona, and Colorado. The company also provides mortgage financing services to its homebuyers; and title examination services to its Texas and Florida homebuyers.
At the end of Thursday’s trade, Capital One Financial Corp. (NYSE:COF)‘s shares surged 2.36% to $81.50.
Capital One Financial Corporation (COF) declared net income for the second quarter of 2015 of $863 million, or $1.50 per diluted common share, contrast to the first quarter of 2015 with net income of $1.2 billion, or $2.00 per diluted common share, and the second quarter of 2014 with net income of $1.2 billion, or $2.04 per diluted common share. Net income for the second quarter of 2015, adjusted for the impact of restructuring charges of $147 million and a build in the U.K. PPI reserve of $78 million, was $1.0 billion or $1.78 per diluted common share.
Second Quarter 2015 Income Statement Summary:
- Total net revenue remained flat at $5.7 billion, counting ($37) million of contra-revenue from a build in the U.K. PPI reserve.
- Total non-interest expense raised 8 percent to $3.3 billion:
- 3 percent enhance in marketing.
- 10 percent enhance in operating expense, counting $147 million in restructuring charges and a build of $41 million in the U.K. PPI reserve.
- Pre-provision earnings reduced 9 percent to $2.4 billion.
- Provision for credit losses raised 21 percent to $1.1 billion.
- Mortgage representation & warranty benefit of $36 million, counting $27 million ($17 million net of tax) in suspended operations.
- Efficiency ratio of 58.30 percent; Efficiency ratio not taking into account restructuring charges and a build in the U.K. PPI reserve of 54.63 percent.
Capital One Financial Corporation operates as the bank holding company for the Capital One Bank (USA), National Association (COBNA); and Capital One, National Association (CONA), which provide various financial products and services in the United States, the United Kingdom, and Canada. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.
PDL BioPharma Inc (NASDAQ:PDLI), ended its Thursday’s trading session with -1.87% loss, and closed at $5.76.
PDL BioPharma, Inc. (PDLI) declared that it has reached a credit agreement with CareView Communications, Inc. (CRVW) whereby PDL will provide CareView with up to $40 million of secured debt financing. CareView is an information technology provider to the healthcare industry focused on patient care monitoring.
Under the credit agreement, PDL will provide CareView with up to $40 million of debt financing in two tranches of $20 million, based upon the achievement of specified milestones. Each tranche has a five year maturity. PDL will receive interest on the principal amount outstanding and has a security interest in substantially all of CareView’s assets. As part of the transaction, PDL received a warrant to purchase about 4.4 million shares of common stock of CareView at an exercise price of $0.45 per share.
PDL BioPharma, Inc. manages a portfolio of patents and royalty assets in the United States and Europe. The company is involved in the humanization of monoclonal antibodies and the discovery of a new generation of targeted treatments for cancer and immunologic diseases.
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