On Thursday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -6.48% to $7.50.
On August 5, Chesapeake Energy Corporation stated financial and operational results for the 2015-second quarter.
2015 Second Quarter Financial Results
For the 2015 second quarter, Chesapeake stated a net loss accessible to common stockholders of $4.151 billion, or $6.27 per fully diluted share, which compares to net income accessible to common stockholders of $145 million, or $0.22 per fully diluted share, in the 2014 second quarter. Items typically excluded by securities analysts in their earnings estimates reduced 2015 second quarter net income by about $4.025 billion on an after-tax basis and are presented on Page 12 of this release. The primary source of this reduction was an impairment in the carrying value of Chesapeake’s oil and natural gas properties largely resulting from noteworthydecreases in the trailing 12-month average first-day-of-the-month oil and natural gas prices as of June 30, 2015, contrast to March 31, 2015. Adjusting for this and other items, the 2015 second quarter net loss accessible to common stockholders was $126 million, or $0.11 per fully diluted share, which compares to adjusted net income accessible to common stockholders of $235 million, or $0.36 per fully diluted share, in the 2014 second quarter.
Adjusted ebitda was $600 million in the 2015-second quarter, contrast to $1.277 billion in the 2014 second quarter. Operating cash flow was $606 million in the 2015-second quarter, contrast to $1.269 billion in the 2014 second quarter. The year-over-year decreases in adjusted ebitda and operating cash flow were primarily the result of lower realized oil, natural gas and natural gas liquid (NGL) prices, partially offset by enhances in realized hedging gains and lower production and general and administrative (G&A) costs.
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL), declined -1.49% to $37.62, during its last trading session.
Growing competition in the payments space PayPal Holdings is getting ready for competition after its separation from eBay (EBAY). PayPal exhibited strong growth in its user base. Its number of active accounts rose by 11% YoY (year-over-year) to 169 million in 2Q15. The company handled 1.1 billion transactions during 2Q15.
PayPal will have to focus on innovations and strategize its moves to grow both its user base and enhance the frequency of users making transactions through PayPal.
PayPal Holdings, Inc. operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. It enables businesses of various sizes to accept payments from merchant Websites, mobile devices, and applications, in addition to at offline retail locations through a range of payment solutions across company’s payments platform, counting PayPal, PayPal Credit, Venmo, and Braintree products.
Finally, National General Holdings Corp. (NASDAQ:NGHC), ended its last trade with 0.05% gain, and closed at $19.10.
National General Holdings declared the pricing of its formerly declared underwritten public offerings of 10,000,000 shares of its common stock and $100 million aggregate principal amount of its 7.625% Subordinated Notes due 2055. The common stock offering was priced to the public at $19.00 per share, resulting in predictable net proceeds of $183.35 million, after deducting underwriting discounts, but before expenses. The Company anticipates the net proceeds from the Subordinated Notes offering will be about $96.85 million, after deducting underwriting discounts, but before expenses.
The Company has granted the underwriters in the common stock offering a 30-day option to purchase up to an additional 1,500,000 shares of the common stock and the underwriters in the Subordinated Notes offering a 30-day over-allotment option to purchase up to an additional $15 million aggregate principal amount of the Subordinated Notes on the same terms and conditions.
National General Holdings Corp., a specialty personal lines insurance holding company, provides personal and commercial automobile, supplemental health, homeowners and umbrella, and other niche insurance products in the United States. The company operates in two segments, Property and Casualty, and Accident and Health.
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