With U.S. oil stockpile inventories at near maximum capacity, one particular subsector of the energy business that looks set to benefit is oil storage. Stockpile inventories have increased over the last several years, driven by record production from shale fields to keep up with demand from a growing economy. Oversupply is a bigger issue in the United States than other countries, with U.S. stockpiles at 80-year highs. The oil storage hub of Cushing, Oklahoma, is coming under increased pressure to meet demand. As oil prices have continued to fall sharply in recent years, the oil storage subsector should continue to benefit from a sellers market. Typically, storage companies charge between 20 to 50 cents a barrel per month. The charge is now as much as 80 cents a month in logistically advantageous locations such as Cushing.
Companies in the oil storage business can take advantage of what is known as contango, which is when forward prices are higher than current prices, allowing the purchase of cheap oil to be stored and sold at a later date while securing income using derivatives. Five companies that appear to be in a good position to take advantage of reduced oil storage capacity are Magellan Midstream Partners (NYSE: MMP), Enterprise Products Partners (NYSE: EDP), Spectra Energy Partners (NYSE: SEP), Buckeye Partners (NYSE: BPL) and EQT Midstream Partners (NYSE: EQM).
Top 5 High Dividend Stocks To Watch For 2016: Veeva Systems Inc.(VEEV)
Veeva Systems Inc. (Veeva), incorporated on January 12, 2007, is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data. The Company offers solutions to areas, including the Veeva CRM family of applications for multichannel customer relationship management to enable coordinated and personalized customer engagement through multiple touch points; Veeva Vault for regulated content management and information management solutions to enable the management of content-centric processes; the Veeva Network master data management solutions for the management of customer master and product master data, and Veeva’s data and data services offerings, including Veeva OpenData for customer reference data and Veeva KOL Data for data.
The Company’s professional services include implementation and deployment planning and project management; requirements analysis, solution design and configuration; systems environment management and deployment services; services focused on advancing or transforming business and operating processes related to Veeva solutions; technical consulting services related to data migration and systems integrations; training on solutions, and ongoing managed services, such as outsourced systems administration. The Company offers Veeva Commercial Cloud for the commercial function of life sciences companies.
Multichannel Customer Relationship Management
Veeva CRM, the Company’s multichannel customer relationship management solutions, allow pharmaceutical and biotechnology companies to market and sell to physicians, other healthcare professionals and healthcare organizations across multiple touch points, including in-person, e-mail and online. Veev a CRM provides specialized functionality, such as prescripti! on drug sample management with electronic signature capture, the management of complex affiliations between physicians and the organizations where they work, and the capture of medical inquiries from physicians. The Company has designed and built a specific application for each mobile device platform it support, including Apple iPads, Windows 8 and 10 mobile devices, Windows-based laptops and tablet personal computers (PC).
The Company’s Veeva CRM and Veeva Medical CRM enables physician-facing employees, such as pharmaceutical sales representatives, key account managers and scientific liaisons to manage, track and optimize interactions with healthcare professionals utilizing a single, integrated solution. Its Veeva CLM provides closed-loop marketing capabilities for use in in-person interactions with physicians. Veeva CLM allows customers to replace paper-based materials with interactive electronic marketing presentations while controlling the storage, distribut ion, presentation and tracking of promotional materials. Its Veeva CRM Mobile is a mobile application that runs on the Apple iPad and the Windows 8 and 10 platforms, combines the key functionality of Veeva CRM and Veeva CLM to provide users with functionality that helps maximize productivity in the field. Veeva CRM Mobile was designed to provide the functionality needed for pharmaceutical field sales representatives and other users to finish tasks in locations, such as hospitals and physicians’ offices, whether or not an Internet connection is available. Its Veeva CRM Approved Email provides for the management, delivery and tracking of regulatory compliant e-mail communication between sales representatives and physicians.
The Company’s Veeva CRM Engage provides closed-loop marketing capabilities for self-directed physician interactions via the Web. The Company’s Veeva CRM CoBrowse provides closed-loop marketing capabilities for Web-based presentations to physici ans led by the sales and marketing staff of life sciences co! mpanies. ! Its Veeva CRM Events Management enables the planning, management and execution of group meetings with healthcare professionals, and helps life sciences companies track and manage spending in order to meet transparency reporting requirements. Its Veeva Align enables life sciences companies to manage the allocation and alignment of sales and marketing resources to customers across various communication channels and define multichannel plans of action.
Regulated Content Management and Collaboration
Veeva Vault, its cloud-based content and information management solution, is used by its customers across commercial functions, including medical, sales and marketing, and research and development (R&D) functions, including clinical, regulatory and quality. Veeva Vault consists of over nine business applications and its Veeva Vault Platform. Veeva Vault applications each include a data model, deep functionality, and pre-defined workflows required to support specific industry processes. Veeva Vault can be deployed as an integrated solution across multiple applications, enabling its customers to manage various important documents and related data in a single, global system. The Veeva Vault Platform was built with the content and information management requirements of the life sciences industry in mind, including audit trail capabilities that record actions and updates enabling customers to manage their regulated content and data in a compliant manner. In addition, the Veeva Vault Platform offers functionality across various the Veeva Vault applications, such as searching, content viewing and annotation, workflow and approvals, electronic signatures, reporting and open application programming interfaces to allow for integration with other systems. The Veeva Vault Platform also includes a configuration toolset that allows customers to create their own Veeva Vault applications.
Veeva Vault applications primarily for use by research and development departments of life sciences co! mpanies i! nclude Veeva Vault eTMF, which is an electronic trial master file application that manages the repository of important documents for active and archived clinical trials and also enables collaboration between the life sciences company sponsoring the trial and its outsourced partners; Veeva Vault Study Startup enables life sciences companies to manage the process of activating investigator sites for clinical trials, accelerating time to first patient enrollment and automating complicated processes while helping to maintain compliance with regulatory requirements and connectivity with Vault eTMF; Veeva Vault Investigator Portal, which manages the collection of documentation and collaboration among trial sponsors, trial sites and the researchers conducting the trials, known as investigators; Veeva Vault QualityDocs enables the creation, review, approval, distribution and management of controlled documents, such as standard operating procedures (SOPs), manufacturing recipes and s pecifications, and Veeva Vault Submissions, which helps life sciences companies to gather and organize all the documents and other content that will be included in a regulatory submission to a healthcare authority, such as the Food and Drug Administration (FDA).
The Company’s Veeva Vault Registrations enables life sciences companies to manage, track and report product and registration information around the world, including registration status, variations, health authority questions and commitments and certification requests. Its Veeva Vault SubmissionsArchive is an authoritative source for submissions and correspondence that stores published submissions in a secure, globally accessible repository. Its Veeva Vault PromoMats enables life sciences companies to manage the end-to-end process for creation, approval, distribution, expiration and withdrawal of commercial content across the digital supply chain. Its Veeva Vault MedComms provides life sciences companies with a single, validated source of medical content across mu! ltiple ch! annels and geographies.
Master Data Management
Veeva Network Customer Master, the Company’s cloud-based customer master and data management solution, is designed to help life sciences companies create and maintain a single, complete and accurate record of the healthcare professionals and healthcare organizations. Veeva Network Customer Master is an industry-specific, cloud-based customer master software solution that de-duplicates, standardizes and cleanses healthcare professional and organization data from multiple systems and data sources to arrive at a single, consolidated customer master record. Veeva Network Customer Master comes pre-configured with a data model that is specific to life sciences and supports global harmonization, as well as country, market and regional data specifications within a single system. Veeva Network Customer Master also includes an intuitive user interface, free text search and filtering capabilities, and the ability to track and measure data quality and operating efficiency through key performance indicators.
Veeva Network Customer Master can be used with Veeva OpenData to simplify the process of data delivery to customers and provide bi-directional integration of requests for data enrichment. Additionally, eeva Network Customer Master can be operated in what it refers to as private mode when data from third-party data providers is uploaded to the Veeva Network solution. In private mode, the bi-directional integration between Veeva Network Customer Master and Veeva OpenData is disabled. Veeva Network Customer Master is also fully integrated with Veeva CRM in order to make the healthcare professional and healthcare organization data available to sales and marketing users. The Company’s Veeva Network Product Master is a cloud-based product master data management offering to help life sciences companies create complete and accurate product master records.
Data and Data Services
Veeva OpenData Customer Data pro! vides hea! lthcare professional and healthcare organization data that includes demographic and license information, affiliations, and other key data, such as digital profiles crucial to customer engagement and compliance. Its Veeva OpenData Compliance Data identifies and assigns healthcare professional specialty information and license status, including expiration dates, which are required to the compliance processes with respect to certain life sciences activities, such as confirming drug sample eligibility and assigning sales territories. Its Veeva OpenData Data Services manage healthcare professional and healthcare organization data. Its Veeva OpenData Email Services provides e-mail data and e-mail rental services to help improve outreach to healthcare professionals through digital channels. Its Veeva KOL Data and Services provide profile information for important healthcare professionals and other stakeholders, gathered from their conference presentations, published research, clini cal trials, grants, articles and social activity.
The Company competes with Oracle Corporation, IMS Health Holding, Inc., EMC Corporation, Microsoft Corporation, OpenText Corporation and Informatica Corporation.
- [By Lisa Levin]
Veeva Systems Inc (NYSE: VEEV) shares shot up 9 percent to $32.30 after the company reported better-than-expected results for the first quarter and issued a strong revenue forecast for the year.
Top 5 High Dividend Stocks To Watch For 2016: Raytheon Company(RTN)
Raytheon Company, together with its subsidiaries, provides electronics, mission systems integration, and other capabilities in the areas of sensing, effects, and command, control, communications, and intelligence systems, as well as mission support services in the United States and internationally. It operates in six segments: Integrated Defense Systems, Intelligence and Information Systems, Missile Systems, Network Centric Systems, Space and Airborne Systems, and Technical Services. The Integrated Defense Systems segment provides integrated naval, air, and missile defense and civil security response solutions. The Intelligence and Information Systems segment offers intelligence, surveillance and reconnaissance, advanced cyber solutions, weather and environmental solutions, and information-based solutions for law enforcement and homeland security. The Missile Systems segment develops and produces weapon systems, including missiles, smart munitions, close-in weapon systems, projectiles, kinetic kill vehicles, and directed energy effectors for the armed forces of the U.S. and other allied nations. The Network Centric Systems segment provides net-centric mission solutions, including integrated communications systems, command and control systems, combat systems, and operations and precision components for the U.S. federal, state, and local government customers, as well as civil customers. The Space and Airborne Systems segment designs and develops integrated systems and solutions for missions, including intelligence, surveillance, and reconnaissance; precision engagement; unmanned aerial operations; and space. The Technical Services segment provides training, logistics, engineering, product support, and operational support services for the mission support, homeland security, space, civil aviation, counterproliferation, and counterterrorism markets. Raytheon Company was founded in 1922 and is based in Waltham, Massachusetts.
- [By Chad Tracy]
Raytheon (NYSE: RTN) Raytheon is currently trading at a slightly higher cost, with a P/E ratio of 12 and a P/B ratio of 3. With a yield of 2.7%, the company has an impressive history of raising dividends over the past five years. During the same period, it has reduced its outstanding share count by almost 100 million shares since 2008, to 329 million.
Raytheon's primary strength lies in its international sales. Customers include the United Arab Emirates, Saudi Arabia, Taiwan, Turkey, Oman, Kuwait and India. Overseas sales, which make up about a quarter of total revenue, should help the company lock in profits should domestic spending continue to decline.
Hot China Companies To Watch For 2016: Chevron Corporation(CVX)
Chevron Corporation (Chevron), incorporated on January 27, 1926, manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services. Upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas; transporting crude oil by international oil export pipelines; transporting, storage and marketing of natural gas, and a gas-to-liquids project. Downstream operations consist primarily of refining crude oil into petroleum products; marketing of crude oil and refined products; transporting crude oil and refined products by pipeline, marine vessel, motor equipment and rail car, and manufacturing and m arketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.
At December 31, 2012, Chevron owned or had under lease or similar agreements undeveloped and developed crude oil and natural gas properties worldwide. Upstream activities in the United States are concentrated in California, the Gulf of Mexico, Colorado, Louisiana, Michigan, New Mexico, Ohio, Oklahoma, Pennsylvania, Texas, West Virginia and Wyoming. During the year ended December 31, 2012, average net oil-equivalent production in the United States was 655,000 barrels per day. In 2012, net daily production averaged 163,000 barrels of crude oil, 70 million cubic feet of natural gas and 4,000 barrels of natural gas liquids (NGLs). During 2012, net daily production for the Companys combined interests in the Gulf of Mexico shelf and deepwater areas, and the onshore fields in the region, were 153,000 barrels of crude oil, 395 million cubic feet of natural gas and 16,000 barrels of NGL.
The! Company was engaged in various exploration and development activities in the deepwater Gulf of Mexico during 2012. As of December 31, 2012, it had a 50% working interest in Jack and a 51% working interest in St. Malo Field. During 2013, the Company had 42.9% non-operated working interest in the Tubular Bells Field; 20.3% non-operated working interest in the Caesar and Tonga area, and 15.6% non-operated working interest in the Mad Dog II Project. The Company activities in the mid-continental United States include operated and non-operated interests in properties primarily in Colorado, New Mexico, Oklahoma, Texas and Wyoming. The Company holds leases in the Marcellus Shale and Utica Shale, primarily located in southwestern Pennsylvania, Ohio, and West Virginia, and in the Antrim Shale in Michigan. Other Americas is consistd of Argentina, Brazil, Canada, Colombia, Suriname, Trinidad and Tobago, and Venezuela. Net oil-equivalent production from these countries averaged 230,000 barrels per day during 2012, including the Companys share of synthetic oil production.
Chevrons interests in oil sands projects and shale acreage in Alberta, shale acreage and an LNG project in British Columbia, exploration, development and production projects offshore in the Atlantic region, and exploration and discovered resource interests in the Beaufort Sea region of the Northwest Territories. Average net oil-equivalent production during 2012, was 69,000 barrels per day, consisted of 25,000 barrels of crude oil, four million cubic feet of natural gas and 43,000 barrels of synthetic oil from oil sands. During 2012, the Company held a 20% non-operated working interest in the Athabasca Oil Sands Project (AOSP). In February 2013, Chevron acquired a 50%-owned and operated interest in the Kitimat LNG project and proposed Pacific Trail Pipeline, and a 50% non-operated working interest in 644,000 total acres in the Horn River and Liard shale gas basins in Brit ish Colombia; 26.9% non-operated working interest in the Hib! ernia Fie! ld and a 23.6 non-operated working interest in the unitized Hibernia Southern Extension (HSE) offshore Atlantic Canada, and 26.6% non-operated working interest in the heavy-oil Hebron Field, also offshore Atlantic Canada.
In December 2012, Chevron relinquished its 29.2% non-operated working interest in Exploration License 2007/26, which includes Block 4 offshore West Greenland. The Company holds operated interests in four concessions in the Neuquen Basin. Working interests range from 18.8% to 100%. In 2012, the net oil-equivalent production averaged 22,000 barrels per day, consisted of 21,000 barrels of crude oil and four million cubic feet of natural gas. During 2012, two exploratory wells targeting shale gas and tight oil resources were drilled in the Vaca Muerta formation in the El Trapial concession. Chevron holds working interests in three deepwater fields in the Campos Basin: Frade (51.7%-owned and operated), Papa-Terra and Maromba (37.5% and 30% non-oper ated working interests, respectively). Net oil-equivalent production in 2012 averaged 6,000 barrels per day, consisted of 6,000 barrels of crude oil and two million cubic feet of natural gas.
In Africa, the Company is engaged in upstream activities in Angola, Chad, Democratic Republic of the Congo, Liberia, Morocco, Nigeria, Republic of the Congo, Sierra Leone and South Africa. Net oil-equivalent production in Africa averaged 451,000 barrels per day during 2012. In Asia, the Company is engaged in upstream activities in Azerbaijan, Bangladesh, Cambodia, China, Indonesia, Kazakhstan, the Kurdistan Region of Iraq, Myanmar, the Partitioned Zone located between Saudi Arabia and Kuwait, the Philippines, Russia, Thailand, and Vietnam. During 2012, net oil-equivalent production averaged 1,061,000 barrels per day. In Australia, the Companys upstream efforts are concentrated off the northwest coast. During 2012, the average net oil-equivalent production from Australia was 99,000 barrels per day. In Europe, the Company is engag! ed in ups! tream activities in Bulgaria, Denmark, Lithuania, the Netherlands, Norway, Poland, Romania, Ukraine and the United Kingdom. Net oil-equivalent production in Europe averaged 114,000 barrels per day during 2012.
The Company markets petroleum products under the principal brands of Chevron, Texaco and Caltex worldwide. In the United States, the Company markets under the Chevron and Texaco brands. During 2012, the Company supplied directly or through retailers and marketers approximately 8,060 Chevron- and Texaco-branded motor vehicle service stations, primarily in the southern and western states. Approximately 470 of these outlets are company-owned or -leased stations. Outside the United States, the Company supplied directly or through retailers and marketers approximately 8,700 branded service stations, including affiliates. In British Columbia, Canada, the Company markets under the Chevron brand. The Company markets in Latin America and the Caribbean using the Texaco brand. In the Asia-Pacific region, southern Africa, Egypt and Pakistan, the Company uses the Caltex brand. The Company also operates through affiliates under various brand names. In South Korea, the Company operates through its 50%-owned affiliate, GS Caltex, and in Australia through its 50%-owned affiliate, Caltex Australia Limited.
The Company owns a 50% interest in its Chevron Phillips Chemical Company LLC (CPChem) affiliate. During 2012, CPChem owned or had joint-venture interests in 36 manufacturing facilities and two research development centers worldwide. The Companys Oronite brand lubricant and fuel additives business is a developer, manufacturer and marketer of performance additives for lubricating oils and fuels. The Company owns and operates facilities in Brazil, France, Japan, the Netherlands, Singapore and the United States and has interests in facilities in India and Mexico. Oronite lubricant additives are blended int o refined base oil to produce finished lubricant packages us! ed primar! ily in engine applications, such as passenger car, heavy-duty diesel, marine, locomotive and motorcycle engines.
The Company owns and operates a network of crude oil, refined product, chemical, natural gas liquid and natural gas pipelines and other infrastructure assets in the United States. The Company also has direct and indirect interests in other the United States and international pipelines. All tankers in the Companys controlled seagoing fleet were utilized during 2012. During 2012, the Company had 51 deep-sea vessels chartered on a voyage basis, or for a period of less than one year. The Companys the United States-flagged fleet is engaged primarily in transporting refined products between the Gulf Coast and the East Coast and from California refineries to terminals on the West Coast and in Alaska and Hawaii. The foreign-flagged vessels are engaged primarily in transporting crude oil from the Middle East, Southeast Asia, t he Black Sea, South America, Mexico and West Africa to ports in the United States, Europe, Australia and Asia. The Companys foreign-flagged vessels also transport refined products to and from various locations worldwide.
During 2012, the Company completed the sale of its Kemmerer, Wyoming, surface coal mine and the sale of its 50% interest in Youngs Creek Mining Company, LLC, which was formed to develop a coal mine in northern Wyoming.Chevron also owns and operates the Questa molybdenum mine in New Mexico. During 2012, it had 160 million tons of proven and probable coal reserves in the United States, including reserves of low-sulfur coal. The Companys Global Power Company manages interests in 11 power assets with a total operating capacity of more than 2,200 megawatts, primarily through joint ventures in the United States and Asia. Chevron Energy Solutions (CES) completed several public sector programs, including a microgrid a t the Santa Rita jail in Alameda County, and renewable and e! fficiency! programs for Huntington Beach City School District, South San Francisco Unified School District and Union City, all in California, plus Rootstown Local School District in Ohio. The Companys energy technology organization supports Chevrons upstream and downstream businesses by providing technology, services and competency development in earth sciences; reservoir and production engineering; drilling and completions; facilities engineering; manufacturing; process technology; catalysis; technical computing, and health, environment and safety disciplines.
- [By Ben Levisohn]
But even if you buy that,Cheniere is still “crazy expensive” compared to peers.Chevron (CVX), Royal Dutch Shell (RDS.A) and Australian firm Woodside trade between 5 and 6.3 times EV/EBITDA. Cheniere: 11.4 times. And while Chevron, Royal Dutch Shell and Woodside will be paying down debt, Cheniere’s will be growing its own, Chanos argued. “This is financial engineering gone crazy,” Chanos says. “[It’s] extremely skewed to the short side.”
- [By Ben Levisohn]
A downer day has turned slightly positive for Chevron (CVX), which reported a surprise loss this morning.
Chevron reported a loss of 78 cents–well below forecasts for a 32 cent profit–but sales of 29.3 billion topped forecasts for $28.3 billion. The loss, however, was the result of a massive impairment charge that when removed, would have resulted in a sizable beat. Citigroup’s Alastair Syme and Fernando Valle explain:
Chevronreported adj. Q2 EPS of $0.50/share, adjusted for impairments and asset sales, but not FX gains. This was a large beat relative to Citi and consensus estimates. The beat relative to Citi estimates came from Upstream, despite lower than expected volumes, impacted by lower utilization at Gorgon. There was a further $2.4bn impairment to the Papa-Terra offshore project in Brazil, where reservoir performance has disappointed.Chevron generated $3.7bn in [cash flow from operations, or CFFO,] for the quarter, up significantly QoQ, while spending $7.5bn on capex + dividend. With Train 1 of Gorgon LNG running for all of Q3 and the restart of Angola LNG later in the quarter, we believe Chevron’s CFFO should continue to rise, while capex requirements are expected to wind down further…
Chevronshould deliver significant FCF as it completes its major capital projects. With one of the stronger balance sheets in the group, the majority of this FCF should be reverted to deliver real dividend growth to shareholders. We update our model for Q2 results, 2016 EPS increases to $1.90/share as a result of the Q2 beat, 2017-20 EPS changes by less than 1%.
Shares of Chevron have gained 0.4% to $102.16 at 2:24 p.m. today, after trading down as much as 1.9%. The Energy Select Sector SPDR (XLE) has gained 0.9% to $67.28.
- [By Ben Levisohn]
Barclays released its first-quarter earnings preview for oil majors like Chevron (CVX), ExxonMobil (XOM), Suncor Energy (SU) andConocoPhillips (COP), and the surprise is that they see when they list the “Biggest Potential 1Q16 Upside Surprise” they follow it with a single word: “None.” Barclays analyst Paul Cheng and team explain why:
Citizens of the Planet/Education Images/UIG/Getty Images
1Q16 was an ugly quarter across the energy space with nearly nowhere to hide. We expect each of the refiners will report earnings below their current consensus estimates while the major oil companies will mostly come in below expectations…
Oil & gas prices reached multi-year lows and we think our group of major oil companies upstream segment loss tripled from their already weak 4Q15 level. In our opinion, the majors are currently reflecting a long term oil price deck of approximately $65/barrel oil price (Brent spot basis) or roughly $60 WTI. Since we believe oil prices will be range bound for the next 3-6 months between $30-$45, we see limited near term upside and think there will be better entry points over the next 6-9 months for names we do not rate OW. We expect the market will continue to focus on names that could ride out the downturn. Our favorites remain Suncor and ConocoPhillips.
Shares of ConocoPhillips have gained 2.4% to $41.28 at 2:14 p.m. today, while Suncor Energy has risen 2.5% to $27.57, Chevron has advanced 1.5% to $96.21, and ExxonMobil is up 1.1% at $83.30
Top 5 High Dividend Stocks To Watch For 2016: Intersil Corporation(ISIL)
Intersil Corporation designs and develops power management and precision analog integrated circuits (ICs) for applications in the infrastructure, industrial, automotive, military, aerospace, computing, and consumer markets. The company offers various power IC solutions for battery management, processor power management, and display power management, including power regulators, converters, and controllers, as well as integrated power modules. It also provides precision analog components, such as amplifiers and buffers, proximity and light sensors, data converters, optoelectronics, video decoders, and interface products. The company markets its products through direct sales force and a network of distributors to original equipment manufacturers, original design manufacturers, and contract manufacturers primarily in China, the United States, South Korea, Japan, Germany, Singapore, and Taiwan. Intersil Corporation was founded in 1 967 and is headquartered in Milpitas, California.
- [By Scott Rubin]
Big gainers on the day included Intersil Corp (NASDAQ: ISIL), which jumped 20 percent on news of a buyout, and Medivation (NASDAQ: MDVN), which added 20 percent on a deal with Pfizer (NYSE: PFE) related to its cancer drug. Cotiviti Holdings Inc (NYSE: COTV) lost around 9 percent in the wake of a mid-day sell-off and Marathon Oil Corporation (NYSE: MRO) fell 7 percent in the wake of a management shakeup.
Top 5 High Dividend Stocks To Watch For 2016: Isle of Capri Casinos Inc.(ISLE)
Isle of Capri Casinos, Inc., together with its subsidiaries, develops, owns, and operates gaming facilities and lodging and entertainment facilities in the United States. It owns and operates 14 casino gaming facilities located in Black Hawk, Colorado; Lake Charles, Louisiana; Lula, Biloxi, Natchez, and Vicksburg, Mississippi; Kansas City, Caruthersville, and Boonville, Missouri; Bettendorf, Davenport, Waterloo, and Marquette, Iowa; and Pompano Beach, Florida. The company?s properties feature approximately 15,000 slot machines; 370 table games, including 110 poker tables; 3,000 hotel rooms; and 40 restaurants. It also operates a harness racing track at its casino in Florida. Isle of Capri Casinos, Inc. was formerly known as Casino America, Inc. and changed its name to Isle of Capri Casinos, Inc. in October 1998. The company was founded in 1990 and is based in St Louis, Missouri.
- [By Lisa Levin]
Isle of Capri Casinos (NASDAQ: ISLE) reported better-than-expected earnings for its fourth quarter on Tuesday.
The company posted adjusted earnings of $0.62 per share on revenue of $264.9 million. However, analysts were expecting earnings of 0.54 per share on revenue of $266.8 million.