On Wednesday, Dave & Buster’s Entertainment, Inc.(NASDAQ:PLAY)’s shares inclined 7.98% to $40.34.
Shares of arcade restaurant chain Dave & Buster’s Entertainment jumped in extended trading Tuesday after it crushed Wall Street’s earnings estimates and raised full-year guidance. In its Q2 report, the recent IPO said that its earnings per share had soared 150% to 40 cents on a 20% hike in revenue to $217.3 million. Consensus was for EPS of 23 cents on $204.3 million in revenue.
Comparable-store sales rose 11%, accelerating from Q1’s 9.9% gain and a 5.7% enhance in the year-earlier quarter.
Q2 operating margin expanded by 310 basis points from a year earlier to 12.3%.
Dave & Buster’s (PLAY) now anticipates 2015 revenue of $844 million-$853 million, up from $822 million-$853 million formerly and above analysts’ views for $832.7 million. It sees comparable-store sales increasing 6.5%-7.5% in 2015, up from its preceding outlook for 4%-5% growth.
Administration also raised its full-year adjusted net income guidance to $52.5 million-$55 million from $43.5 million-$46 million.
King added that the company has opened five stores this year and is now raising its development guidance to 8-9 stores for the year, vs. 7-8 formerly, of which all but one will be in the large-store format.
Its long-term target for North America is more than 200 stores, which he said will translate into roughly 10% annual growth in its store base.
Dave & Buster’s Entertainment launched its initial public offering last October after gaining a loyal customer base by specializing in fun and games.
Dave & Buster’s Entertainment, Inc. owns and operates venues that combine dining and entertainment for adults and families in North America. Its venues offer a menu of Fun American New Gourmet entrées and appetizers, in addition to a selection of non-alcoholic and alcoholic beverages; and an assortment of entertainment attractions centered on playing games and watching live sports, and other televised events.
Dominion Resources, Inc. (NYSE:D)’s shares dropped -0.93% to $68.08.
Dominion (NYSE:D) declared that it has agreed to enter into a partnership with SunEdison, Inc. (SUNE), in which it would sell 33 percent of its ownership in 425 megawatts of solar generating capacity for about $300 million, subject to working capital and certain other adjustments. Under the terms of the agreement, SunEdison has a future option to buy all or a portion of Dominion’s remaining 67 percent ownership.
Comprised Of in the agreement are 24 projects in California, Connecticut, Georgia, Indiana, Tennessee and Utah. Fifteen of the projects entered service in 2013 and 2014. The remaining projects either have been accomplished or have predictable in-service dates in 2015. All have long-term power purchase agreements with local electricity providers.
Dominion anticipates to pay down debt with the cash proceeds. The transaction will require approval by the Federal Energy Regulatory Commission.
Dominion Resources, Inc. produces and transports energy in the United States. The company operates through three segments: Dominion Virginia Power (DVP), Dominion Generation, and Dominion Energy. The DVP segment engages in regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. The Dominion Generation segment is involved in electricity generation through coal, nuclear, gas, oil, hydro, and renewable sources; and related energy supply operations.
At the end of Wednesday’s trade, United Parcel Service, Inc. (NYSE:UPS)‘s shares dipped -0.86% to $97.09.
UPS (UPS) declared it has purchased 125 new technology hybrid electric delivery trucks, as part of a broader program to deploy electric-powered vehicles with greater range and performance.
The new trucks will deliver noteworthy fuel economy equivalency gains - up to four times the fuel economy of a gasoline powered vehicle, contrast to a 10 to 15% improvement with previous hybrid designs. They will be deployed in Arizona, Texas, Nevada, Mississippi, Alabama, Georgia and Florida the first half of 2016.
The trucks were purchased under UPS’s commitment to utilize advanced technologies to reduce the environmental impact of its fleet. While the new electric vehicles will cost UPS slightly more than a similar truck with a conventional engine, the company’s sustainability commitment influenced the purchase decision. The vehicles are being manufactured by Workhorse Group, Inc., a Cincinnati-based company which manufactures electric drive systems for commercial trucks and can equip them with electric engines.
United Parcel Service, Inc., a package delivery company, provides transportation, logistics, and financial services in the United States and internationally. It operates in three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States. The International Package segment provides guaranteed day and time-definite international shipping services in Europe, Asia, Canada and Latin America, the Indian sub-continent, the Middle East, and Africa. It offers three guaranteed time-definite express options, counting Express Plus, Express, and Express Saver.
Prudential Financial Inc (NYSE:PRU), ended its Wednesday’s trading session with -1.76% loss, and closed at $78.18.
Prudential Financial, Inc. (PRU) has named Timothy P. Harris as executive vice president and general counsel, succeeding Susan Blount, who is retiring from Prudential in January of next year after a distinguished 30-year career at Prudential, the last decade of which has been as general counsel. Harris will assume his role on October 1 and report to Chairman and CEO John Strangfeld.
Prudential Financial, Inc. provides insurance, investment administration, and other financial products and services to individual and institutional customers in the United States and internationally. The company principally offers life insurance, annuities, retirement-related services, mutual funds, and investment administration products. Its U.S. Retirement Solutions and Investment Administration division offers individual variable and fixed annuity products; recordkeeping, plan administration, actuarial advisory, tailored participant education and communication, trustee, and institutional and retail investments services; and guaranteed investment contracts, funding agreements, institutional and retail notes, structured settlement annuities, and other group annuities. This division also provides investment administration and advisory services to the public and private marketplace.
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