On Tuesday, Shares of Ally Financial Inc. (NYSE:ALLY), gained 4.73% to $21.27.
Ally Financial, stated net income of $576 million, and $1.06 per diluted common share, for the first quarter of 2015, contrast to net income of $177 million, and $0.23 per diluted common share, in the preceding quarter, and net income of $227 million, and $0.33 per diluted common share, for the first quarter of 2014. The company stated core pre-tax income, not taking into account repositioning items entirely related to the early extinguishment of high-cost legacy debt, of $490 million in the first quarter of 2015, contrast to $396 million in the preceding quarter and $339 million in the comparable preceding year period. The company stated core pre-tax income of $299 million for the quarter. Adjusted earnings per diluted common share for the quarter were $0.52, contrast to $0.40 for the previous quarter and $0.34 for the comparable preceding year period.
Strong operating results in the Dealer Financial Services franchise continued with pre-tax income totaling $409 million for the quarter. Auto financing originations for the quarter remained strong and grew to $9.8 billion, increasing 9 percent from the previous quarter and 7 percent year-over-year, driven by strong performance in the Growth and Chrysler channels. Not taking into account GM lease originations, consumer auto originations raised 27 percent year-over-year. Moreover, new and used originations from Growth dealers grew 54 percent contrast to the preceding year period.
Also contributing to total results was a formerly revealed after-tax gain of about $400 million in suspended operations from the accomplished sale of the Chinese joint venture in January, which was partially offset by expenses from debt repurchases, as the company continued to execute its liability administration program to reduce high-cost legacy debt. As a result of this continued effort, in addition to raised retail deposits which grew 12 percent year-over-year, Ally’s cost of funds reduced 21 basis points from the preceding year period.
Ally Financial Inc. provides financial products and services primarily to automotive dealers and their customers in the United States. It offers dealer financial services, counting a range of financial services and insurance products to automotive dealers and retail customers.
At the end of Tuesday’s trade, Shares of Yamana Gold, Inc. (NYSE:AUY), jumped 3.59% to $4.04.
Yamana Gold, declared its financial and operating results for the first quarter 2015.
Operational performance in the first quarter was in line with expectations, ongoing the trend established in the second half of 2014. The Company’s primary portfolio continues to demonstrate its stability and low cost structure, providing the opportunity for the pursuit of high quality growth. In particular, the flagship assets Chapada, El Peñón and Canadian Malartic continue to contribute most significantly to production and cash flow, forming the base on which the Company’s other assets have the potential to further enhance value.
During the quarter, considerable progress was made at improving the future outlook for the Company’s partner Brio Gold Inc. (“Brio Gold”) and the Company is advancing plans for a going public event in the third quarter of 2015. In addition, the Company paid down the outstanding balance on its revolving credit facility by about $200 million, consistent with its formerly declared debt reduction initiative. The repayment of debt and the divestiture of Brio Gold are predictable to further strengthen the Company’s robust financial position.
The Company is well positioned to deliver sequential quarter-over-quarter production growth and maintaining its low cost structure throughout 2015. The established strategy of balancing production growth, cash fow generation and cost reductions to maximize returns is predictable to create considerable value going forward.
Yamana Gold Inc. engages in gold mining and related activities, counting exploration, extraction, processing, and reclamation. The company has precious metal properties and land positions in the Americas.
United Parcel Service, Inc. (NYSE:UPS), ended its last trade with 3.43% gain, and closed at $100.77.
United Parcel Service, declared first quarter 2015 diluted earnings per share of $1.12, a 14% enhance over the preceding year period. Operating profit raised 11% to $1.7 billion, with all three segments contributing. Revenue administration actions and robust International shipment growth drove the operating profit improvement.
Total stated revenue of $14.0 billion was up 1.4% over the same quarter last year. Revenue growth was 3.6% after adjusting for foreign currency changes.
Total company shipments raised 2.8% to 1.1 billion packages, led by European export growth of 9.4%.
Cash Flow
For the three months ended March 31, UPS generated $2.4 billion in free cash flow. The company paid dividends of $636 million, an enhance of 9.0% per share over the preceding year. The company also repurchased more than 6.7 million shares for about $680 million.
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.
Finally, J. C. Penney Company, Inc. (NYSE:JCP), closed at $8.60, with 3.37% gain.
J. C. Penney Company, declared that Mary Beth West, a highly accomplished consumer marketing executive, will join the Company`s executive leadership team as executive vice president and chief customer and marketing officer effective June 1, 2015. She will be stepping down from her position on its Board of Directors to assume this new role.
West has been a member of the JCPenney Board of Directors since 2005 and has served in numerous leadership positions at General Foods and Kraft, most notably as executive vice president and chief category and marketing officer of Kraft Foods. In joining JCPenney, West brings nearly 30 years of consumer and retail marketing experience to the Company with expertise in brand administration, integrated marketing communications and consumer insights and strategy. Most recently, West held the top marketing role with Mondelez International Inc., where she served as executive vice president and chief category and marketing officer.
J.C. Penney Company, Inc., through its partner, J. C. Penney Corporation, Inc., sells merchandise through department stores in the United States.
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