On Wednesday, Shares of Delta Air Lines, Inc. (NYSE:DAL), gained 1.48% to $46.78.
Delta Air Lines’s Board of Directors declared a new $5 billion share repurchase program, to be accomplished no later than December 31, 2017. In addition, the company’s quarterly dividend will enhance by 50 percent to $0.135 per share starting in the September 2015 quarter. These two programs are predictable to return more than $6 billion to shareholders through 2017. The company also declared that it is on track to complete the remaining $725 million of its preceding $2 billion share repurchase authorization by June 30.
Raising the Bar on Shareholder Returns
In an investor presentation this morning, Delta offered an update on its progress against the capital deployment plan declared by the company in May 2014. The company declared plans to drive additional shareholder value by accelerating cash returns to shareholders while strengthening the balance sheet through debt and pension reductions.
“Our long-term plan stays true to Delta’s core values – running the most operationally reliable and customer-focused airline, maintaining the culture that drives our success, and investing in our business,” said Richard Anderson, Delta’s chief executive officer. “Delta continues to raise the bar among industrial companies, leading its peer set in free cash flow generation. Our latest shareholder return declaration underlines Delta’s efforts to build a durable, sustainable franchise that will benefit our customers, employees, and shareholders for many years to come.”
Delta Air Lines, Inc. provides planned air transportation for passengers and cargo worldwide. The company operates in two segments, Airline and Refinery. Its route network comprises various gateway airports in Amsterdam, Detroit, Los Angeles, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, Seattle, and Tokyo-Narita.
Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM), inclined 2.52% to $29.70, during its last trading session.
Sprouts Farmers Market, declared that Amin Maredia, chief financial officer, and Jim Nielsen, chief operating officer, will present at the BMO Capital Markets 10th Annual Farm to Market Conference at the Grand Hyatt New York. The presentation will start at 11:30 am (EDT) on May 21, 2015.
Sprouts Farmers Market, Inc. operates as a specialty retailer of fresh, natural, and organic food in the United States. The company’s stores offer fresh produce, bulk foods, vitamins and supplements, grocery products, meat and seafood products, deli and bakery products, dairy and dairy alternatives, frozen foods, beer and wine, natural health and body care products, and natural household products.
At the end of Wednesday’s trade, Shares of CBS Corporation (NYSE:CBS), showed no change to $59.72.
CBS Corporation, unveiled its 2015-2016 primetime lineup, featuring seven new shows and 22 returning series. CBS will build on a plan that will finish the current season as America’s most-watched network in viewers for the 12th time in 13 years, counting the last seven years straight.
The new fall dramas are: the heart-pounding medical series CODE BLACK, set in the busiest, most notorious ER in the nation; the fast-paced LIMITLESS, based on the feature film with Bradley Cooper, starring Jake McDorman as an average guy who can suddenly access 100% of his brain capacity with a mysterious pill; and SUPERGIRL, starring Melissa Benoist in the title role based on the DC Comics superhero.
The new fall comedies are: ANGEL FROM HELL, about a loud, colorful, often inappropriate woman who claims to be a guardian angel, starring Golden Globe and Emmy Award winner Jane Lynch and Maggie Lawson; and LIFE IN PIECES, an irreverent look at a family’s sometimes awkward, often hilarious and ultimately beautiful milestone moments, starring Academy and Emmy Award winner Dianne Wiest, Emmy Award winner James Brolin, Zoe Lister Jones, Colin Hanks, Angelique Cabral, Thomas Sadoski, Betsy Brandt and Dan Bakkedahl.
CBS Corporation operates as a mass media company worldwide. It operates through four segments: Entertainment, Cable Networks, Publishing, and Local Broadcasting. The Entertainment segment distributes a plan of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and distributes programming, counting series, specials, news, and public affairs; operates online content networks for information and entertainment; and produces, acquires, and distributes theatrical motion pictures.
Finally, MBIA Inc. (NYSE:MBI), ended its last trade with 2.64% gain, and closed at $9.33.
MBIA, stated combined operating income (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) of $34 million for the three months ended March 31, 2015 contrast with combined operating income of $40 million in the same period of 2014. The decline in combined operating income for the three months ended March 31, 2015 was primarily the result of a decrease in net investment income and a larger reduction in loss reserves in the first quarter of 2014 than in the first quarter of 2015, partially offset by an enhance in premiums earned net of deferred acquisition cost amortization.
Adjusted Book Value (ABV) per share (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) was $25.78 as of March 31, 2015 contrast with $24.87 as of December 31, 2014. The enhance in ABV per share was primarily driven by a decrease in common shares outstanding resulting from share repurchases. The Company repurchased 8.6 million of its common shares during the first quarter of 2015.
Merged GAAP net income was $69 million, or $0.37 per diluted share, for the first quarter of 2015 contrast with merged net income of $256 million, or $1.32 per diluted share, in the same period of 2014. The decrease in merged net income in the first quarter of 2015 was primarily due to lower net gains on insured derivatives, partially offset by a lower provision for income taxes, gains on foreign exchange and lower losses on insured exposures.
MBIA Inc. provides financial guarantee insurance services to public finance markets in the United States and internationally. The company operates through U.S. Public Finance Insurance, and International and Structured Finance Insurance segments. It issues financial guarantees for municipal bonds, counting tax-exempt and taxable indebtedness, in addition to utility districts, airports, health care institutions, higher educational facilities, student loan issuers, housing authorities, and other similar agencies and obligations issued by private entities.
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