On Wednesday, in the course of current trade, Shares of Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT), gained 7.40%, and is now trading at $86.78, hitting its highest level.
Today, Starwood Hotels & Resorts, stated first quarter 2015 financial results.
First Quarter 2015 Highlights
- Not taking into account special items, EPS from ongoing operations was $0.65. Counting special items, EPS from ongoing operations was $0.58.
- Adjusted EBITDA was $274 million.
- Not taking into account special items, income from ongoing operations was $110 million. Counting special items, income from ongoing operations was $99 million.
- Worldwide Systemwide REVPAR for Same-Store Hotels raised 5.2% in constant dollars (1.9% in actual dollars) contrast to 2014. Systemwide REVPAR for Same-Store Hotels in North America raised 6.8% in constant dollars (5.8% in actual dollars).
- Administration fees, franchise fees and other income reduced 3.2% contrast to 2014. Core fees raised 1.6% contrast to 2014.
- Earnings from Starwood’s vacation ownership and residential business raised about $4 million contrast to 2014.
- During the quarter, the Company signed 33 hotel administration and franchise contracts, representing about 6,000 rooms, and opened 20 hotels and resorts with about 3,200 rooms.
- During the quarter, the Company paid a quarterly dividend of $0.375 per share and repurchased 1.6 million shares at a total cost of $123 million and a weighted average price of $78.29 per share.
- On April 16, 2015, the Company introduced Tribute Portfolio, its tenth brand and second collection of independent hotels.
Starwood Hotels & Resorts Worldwide, Inc., together with its auxiliaries, operates as a hotel and leisure company worldwide. The company owns, operates, and franchises luxury and upscale full-service hotels, resorts, residences, retreats, select-service hotels, and extended stay hotels under the St. Regis, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Four Points, Aloft, and Element brand names.
During Morning trade, Shares of Bank of America Corporation (NYSE:BAC), gained 1.63%, and is now trading at $15.91.
Bank of America, Survey finds 64 percent of small business owners are still recovering from the ‘Great Recession’.
Seven years after the “Great Recession,” two-thirds (64 percent) of small business owners report their businesses are still in the process of recovering, according to Bank of America’s spring 2015 Small Business Owner Report. The report, based on a semi-annual survey of 1,000 small business owners across the country, says that only one in five (21 percent) small businesses state they have completely recovered from the recession.
However, despite these lingering impacts from the Great Recession, small business owners are still confident about the future growth of their businesses: 63 percent believe revenue will enhance in the next 12 months (as compared to 62 percent last fall), and 66 percent plan to grow their business in the next five years.
Bank of America Corporation, through its auxiliaries, provides banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, large corporations, and governments worldwide.
Shares of General Dynamics Corporation (NYSE:GD), during its Wednesday’s current trading session surged 3.76%, and is now trading at $138.20.
Today, General Dynamics stated first-quarter 2015 earnings from ongoing operations of $716 million, a 20.1 percent enhance over first-quarter 2014, on revenues of $7.8 billion. Diluted earnings per share were $2.14 per share contrast to $1.71 in first-quarter 2014, a 25.1 percent enhance.
Margins
Company-wide operating margins for the first quarter of 2015 were 13.2 percent, a 120 basis points improvement when contrast to 12 percent in first-quarter 2014. Margins grew in three of the company’s four business groups.
Cash
Net cash offered by operating activities in the quarter totaled $745 million. Free cash flow from operations, defined as net cash offered by operating activities less capital expenditures, was $647 million.
Capital Deployment
The company repurchased 4.65 million of its outstanding shares in the first quarter. In addition, in March, the board of directors raised the company’s quarterly dividend by 11.3 percent to $0.69 per share, representing the company’s 18th successive annual dividend enhance.
General Dynamics Corporation operates as aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems.
Finally, Ariad Pharmaceuticals Inc. (NASDAQ:ARIA), gained 3.49% Wednesday.
ARIAD Pharmaceuticals, declared that it has reached a contract to settle its current proxy contest with Sarissa Capital Administration. In addition, ARIAD’s founder, Harvey J. Berger, M.D., has informed the Board of Directors of his decision to retire as chairman and chief executive officer (CEO) upon appointment of his successor or December 31, 2015, whichever is earlier. The Board has formed a CEO search committee chaired by Alex Denner of Sarissa Capital, which will work expeditiously to find a successor CEO.
In addition, under the terms of the settlement, ARIAD’s Board has designated Anna Protopapas by filling an existing open director seat on the Board. Sarissa will withdraw its projected slate of director nominees, which comprised of Ms. Protopapas, for election at the 2015 Annual Meeting and has agreed to vote all of its shares in favor of the Board’s nominees.
ARIAD Pharmaceuticals, Inc., an oncology company, engages in the discovery, development, and commercialization of medicines for cancer patients.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
