Active Stocks Buzz: Zillow Group, Inc. (NASDAQ:ZG), Legacy Reserves LP (NASDAQ:LGCY), B/E Aerospace Inc (NASDAQ:BEAV)

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On Tuesday, Shares of Zillow Group, Inc. (NASDAQ:ZG), lost 3.76% to $31.46.

The 30-year fixed mortgage rate on Zillow Mortgages is presently 3.63 percent, up four basis points from this time last week. The 30-year fixed mortgage hovered around 3.60 percent for most of the week before rising to the current rate.

Mortgage rates remained flat for most of last week despite central bank moves in Europe and China, said Erin Lantz, vice president of mortgages at Zillow. This week markets will look toward Wednesdays Federal Open Market Committee statement and Thursdays inflation data for greater insight into the path of interest rates for the coming months.

Zillows real-time mortgage rates are based on thousands of custom mortgage quotes presented daily to anonymous borrowers on the Zillow Mortgages site and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.

Zillow Group, Inc. operates real estate and home-related information marketplaces on mobile and the Web in the United States. It offers a portfolio of brands and products to assist people find vital information about homes, and connect with local professionals.

Shares of Legacy Reserves LP (NASDAQ:LGCY), declined -9.60% to $3.53, during its last trading session.

Legacy Reserves, declared that the Board of Directors of its general partner has approved a cash distribution attributable to the third quarter of 2015 of $0.15 per unit, payable on November 13, 2015, to unitholders of record at the close of business on November 5, 2015.

Paul T. Horne, Legacys President and Chief Executive Officer stated, The administration team and Board of Directors have decided to reduce the distribution from an annualized $1.40 per unit to $0.60 per unit. This difficult decision was not based on this quarters, next quarters or next years distribution capability. It was also not based on our financial liquidity as we project more than ample headroom to run the business. However, as commodity prices and our financial markets have continued to erode, we believe the right step for Legacy is to better position the balance sheet in the event this depressed market persists. While we expect higher commodity prices over time as a result of a more balanced supply and demand environment, we have prioritized a number of objectives counting reducing debt, maximizing liquidity, and being positioned to capitalize on opportunities in the current market environment. We intend to monitor our markets actively and may further alter our distributions accordingly. We look forward to providing additional color on this decision in addition to updates on our recent operational and financial performance at our forthcoming Q3 earnings declarations and conference call.

Legacys general partner also declared a cash distribution for both its 8% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units and its 8% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units of $0.166667 per unit payable on November 16, 2015 to preferred unitholders of record on November 2, 2015.

Legacy Reserves LP owns and operates oil and natural gas properties in the United States. As of December 31, 2014, the company owned interests in producing oil and natural gas properties in 665 fields comprising 11,121 gross productive wells, counting 3,919 operated and 7,202 non-operated wells located in the Permian Basin, Texas Panhandle, Wyoming, North Dakota, Montana, the Piceance Basin of Colorado, Oklahoma, and other states.

Finally, Shares of B/E Aerospace Inc (NASDAQ:BEAV), ended its last trade with 3.47% gain, and closed at $44.72.

B/E Aerospace, declared its third quarter 2015 financial results, reaffirmed its 2015 guidance, and offered an update on its longer term outlook.

THIRD QUARTER 2015 HIGHLIGHTS

  • Revenues raised 4 percent (4.9 percent on a constant currency basis) as contrast with the preceding year period
  • The Company recognized an after-tax charge of $30.5 million, or $0.29 per share, during the quarter, associated with its formerly declared cost reduction program
  • Exclusive of the third quarter charge, operating margin was 18.3 percent and net earnings per diluted share of $0.73 raised 14 percent as contrast with the preceding year period’s adjusted results as described below
  • The Company repurchased $60 million of its shares, repaid $125 million of its outstanding term loan and declared a $0.19 quarterly dividend
  • The Company reaffirmed its 2015 financial guidance, established its full year 2016 financial guidance and offered its initial 2017 outlook

B/E Aerospace, Inc. designs, manufactures, sells, and services cabin interior products for commercial aircraft and business jets in the United States and internationally. Its Commercial Aircraft segment offers first class, business class, tourist class, and regional aircraft seats, in addition to spares; oxygen storage, distribution, and delivery systems for commercial and business jet aircraft; coffee makers/water boilers, ovens, and refrigeration equipment; and modular lavatory, wastewater, and galley systems.

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About Travis Garlick 1791 Articles
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