On Friday, Shares of JPMorgan Chase & Co. (NYSE:JPM), gained 1.53% to $65.49, hitting its highest level.
Chase declared that, in partnership with Wish of a Lifetime and the WWII Foundation, the company is sending 93-year-old Glenview resident, Captain (stepped down) George Klein to Normandy, France for 2015 D-Day memorial services. Klein was to attend the 70th Anniversary of D-Day in 2014, but became ill and could not travel. Fully recovered, Klein wishes to make the trip in 2015 to find closure and to honor the sacrifices of his fellow soldiers and friends
In June of 1944, Captain Klein, undertook one of the most dangerous missions that took place on D-Day; scaling the cliffs at Pointe Du Hoc. He scaled the 100 foot cliffs and engaged the enemy, but late in the day was wounded by the bayonet of a German soldier. He spent two days waiting to be evacuated from the battlefield. During his trip back to Normandy, Klein will meet the Band of Brothers and attend events at Utah beach, Omaha beach, and Pointe Du Hoc.
JPMorgan Chase & Co., a financial holding company, provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
Shares of MetLife, Inc. (NYSE:MET), inclined 0.35% to $52.25, during its last trading session.
MetLife’s 13th Annual U.S. Employee Benefit Trends Study, released recently, reveals a correlation between the number of benefits offered by employers and the likelihood that an employee would recommend their employer as a great place to work. At companies where employees are offered no benefits, only 46% of employees would recommend their employers as great places to work. This number climbs to 53% at companies where employees are offered between one and five benefits, but at companies where employees are offered 11 or more benefits, this number jumps to 66%, reinforcing employees’ desire for choice. In fact, nearly 40% of employees say having a wide selection of benefits would make them feel more loyal to their employer. These key insights may prove valuable as employers face a shifting macroeconomic landscape in which unemployment rates are the lowest since 2008, but employees feel less secure both about their jobs and their current financial situation.
“Throughout the study, the positive impact of the number of benefits an employer offered was clear, likely because the greater number of options provides employees with the opportunity to tailor benefits to their specific needs,” says Todd Katz, executive vice president, Group, Voluntary & Worksite Benefits, at MetLife. “Offering a comprehensive suite of benefits that goes beyond standard benefits, such as medical, dental and vision, to comprise voluntary benefits like critical illness, accident, auto and home, and legal services, can drive both loyalty and engagement without adding cost for the employer.”
MetLife, Inc. provides life insurance, annuities, employee benefits, and asset administration products in the United States, Japan, Latin America, Asia, Europe, and the Middle East. It operates in six segments: Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America; Asia; and Europe, the Middle East and Africa.
At the end of Friday’s trade, Shares of Spirit Realty Capital, Inc. (NYSE:SRC), gained 1.88% to $11.40.
Spirit Realty Capital, declared its operating results for the quarter ended March 31, 2015.
Net income attributable to common stockholders totaled $25.3 million, or $0.06 per diluted share, contrast to $14.2 million, or $0.04 per diluted share for the same period in 2014.
Funds from Operations (“FFO”) for the quarter ended March 31, 2015, raised 9.4% to $81.7 million, or $0.20 per diluted share, contrast to $74.7 million, or $0.20 per diluted share, for the same period in 2014.
Adjusted Funds from Operations (“AFFO”) for the quarter ended March 31, 2015, raised 17.3% to $87.5 million, or $0.21 per diluted share, contrast to $74.6 million, or $0.20 per diluted share, for the same period in 2014.
First Quarter 2015 Highlights
- Total revenues raised 12.7% year-over-year and 4.8% sequentially.
- Total AFFO raised 17.3% year-over-year and 3.6% sequentially.
- Attained 53 properties for $265.5 million, with an initial cash yield of about 7.68%, leased to 25 tenants in 12 different industries with an average remaining term of 17.2 years.
- Sold 15 properties generating gross proceeds of $77.2 million, counting 5 Shopko assets for about $38.8 million, with a gain on sale of $11.3 million.
- Reduced Shopko concentration to 12.8% from 14.0% at December 31, 2014.
- Spirit’s corporate credit rating was raised to ‘BB’ by Standard & Poor’s Ratings Services (“S&P”).
- Extinguished $162.8 million of high coupon secured debt that had a 5.76% weighted average coupon rate.
- Closed a $600 million unsecured credit facility with an accordion for potentially up to $1 billion.
- Sold 6.6 million common shares through Spirit’s at-the-market program (“ATM”), at an average share price of $12.07, generating net proceeds of $78.6 million.
Spirit Realty Capital, Inc is a publicly traded real estate investment trust. The firm primarily acquires across the United States single tenant operationally essential real estate, which refers to generally free-standing, commercial real estate facilities where tenants conduct retail, service or distribution activities that are essential to the generation of their sales and profits.
Finally, Sprint Corporation (NYSE:S), ended its last trade with 0.85% gain, and closed at $4.77.
Sprint Corporation, stated operating results for the fourth fiscal quarter of 2014, counting 1.2 million Sprint platform net additions, the highest number in nearly three years. The company recorded significantly better postpaid churn of 1.84 percent, and for the fourth successive quarter, reduced postpaid phone losses. In addition, the company stated operating income of $318 million and Adjusted EBITDA of $1.7 billion.
1.2 Million Sprint Platform Net Additions
- Sprint platform net additions of 1.2 million contrast to 967,000 in the preceding quarter and net losses of 383,000 in the preceding year quarter. The year-over-year improvement was mostly driven by growth in the prepaid business and fewer postpaid phone customer losses.
- Postpaid net additions of 211,000 contrast to 30,000 in the preceding quarter and net losses of 231,000 in the preceding year quarter. The 442,000 year-over-year improvement was due to both higher prime credit quality gross additions and lower churn.
- Net port positive for the first time in nearly three years.
- Postpaid phone losses of 201,000 contrast to losses of 205,000 in the preceding quarter and 693,000 in the preceding year quarter. The 492,000 year-over-year improvement was driven by lower churn and higher prime credit quality gross additions.
- Postpaid tablet net additions of 349,000 contrast to 189,000 in the preceding quarter and 516,000 in the preceding year quarter.
- Prepaid net additions of 546,000 led the industry for the second successive quarter and contrast to 410,000 in the preceding quarter and net losses of 364,000 in the preceding year quarter. The 910,000 year-over-year improvement was mostly due to growth in the Boost Mobile brand.
- Wholesale net additions of 492,000 contrast to 527,000 in the preceding quarter and 212,000 in the preceding year quarter. The year-over-year growth was mostly driven by connected devices.
Sprint Corporation provides wireless and wireline communications services to consumers, businesses, and government users in the United States, Puerto Rico, and the U.S. Virgin Islands. It operates in two segments, Wireless and Wireline.
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