On Thursday, Shares of Alibaba Group Holding Limited (NYSE:BABA), gained 3.51% to $93.88.
Alibaba Group, declared that it will report its financial results for the quarter ending June 30, 2015 before the U.S. market opens on Wednesday, August 12, 2015, and will hold a conference call to talk about the financial results at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Hong Kong Time) the same day.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online business-to-business marketplace that focuses on global trade among businesses; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD), declined -2.36% to $12.02, during its last trading session.
Brocade Communications Systems, stated financial results for its second fiscal quarter ended May 2, 2015. Brocade stated second quarter revenue of $547 million, up 2% year over year and down 5% sequentially. The Company stated GAAP diluted Earnings Per Share (EPS) of $0.18, up from a loss of $0.03 per share in Q2 2014 and down from $0.20 in Q1 2015. The Q2 2014 GAAP loss was due to a non-cash goodwill impairment charge associated with the planned repositioning of the Brocade ADX® product family. Non-GAAP diluted EPS was $0.22 for Q2 2015, up from $0.19 in Q2 2014 and down from $0.27 in Q1 2015.
Highlights:
- SAN product revenue was $314 million, down 2% year over year. The decline was primarily the result of softer storage demand and operational issues at certain OEM partners. The sequential revenue decline of 11% was at the low end of the Company’s outlook for the quarter and consistent with the last two years, where the fiscal second quarters have seen sequential revenue declines of 10% to 12%.
- IP Networking product revenue was $145 million, up 19% year over year. The growth was primarily due to higher sales of routers (up 40%) and Ethernet switches (up 8%), in addition to higher software networking revenue, which now comprises SteelApp revenue from the date of closing of the acquisition in early March. The raised sales year over year were primarily due to service provider and U.S. federal customers. Sequentially, IP Networking revenue raised 9% due to higher routing and switching sales, in addition to higher software networking revenue.
- Global Services revenue was $88 million, down 7% year over year primarily due to the additional week of support revenue recognized in Q2 2014, which was a 14-week fiscal quarter for Brocade. Global Services revenue was down 2% sequentially due to the timing of certain large support renewal orders.
- During the quarter, Brocade accomplished the formerly declared acquisitions of Connectem Inc., a pioneer in the LTE virtual evolved packet core market, and the SteelApp assets from Riverbed Technology, Inc.
Brocade Communications Systems, Inc. provides storage area networking (SAN) and Internet protocol networking solutions for businesses and organizations worldwide. It operates through SAN Products, IP Networking Products, and Global Services segments.
At the end of Thursday’s trade, Shares of The Home Depot, Inc. (NYSE:HD), lost -0.08% to $112.01.
The Home Depot, declared that its board of directors declared a first quarter cash dividend of 59 cents per share. The dividend is payable on June 18, 2015, to shareholders of record on the close of business on June 4, 2015. This is the 113th successive quarter the Company has paid a cash dividend.
The Home Depot, Inc. operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, and lawn and garden products, in addition to provide installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers.
Finally, Pandora Media, Inc. (NYSE:P), ended its last trade with 3.36% gain, and closed at $18.48.
Pandora Media, declared that the company’s Vice President, Dominic Paschel, will present at the Cowen and Company 43rd Annual Technology Media & Telecom Conference.
Mr. Paschel will present at the Cowen and Company 43rd Annual Technology Media & Telecom Conference on Wednesday, May, 27, 2015 at 6:30 a.m. PT / 9:30 a.m. ET in New York, NY.
Pandora Media, Inc. provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access free music and comedy catalogs, in addition to offers Pandora One, a paid subscription service to listeners.
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