On Thursday, Shares of Applied Materials, Inc. (NASDAQ:AMAT), lost -1.45% to $17.05.
Applied Materials stated results for its third quarter ended July 26, 2015.
Third quarter orders were $2.89 billion, up 15 percent sequentially and up 17 percent year over year. Net sales were $2.49 billion, up 2 percent sequentially and up 10 percent year over year.
On a non-GAAP adjusted basis, the company stated gross margin of 43.9 percent, operating margin of 20.8 percent, and net income of $410 million or $0.33 per diluted share. The company recorded GAAP gross margin of 40.9 percent, operating margin of 15.9 percent, and net income of $329 million or $0.27 per diluted share. The GAAP results comprised of the effect of cost reduction actions in the solar business comprising of $34 million of inventory charges and $17 million of restructuring and asset impairment charges.
The company generated $334 million in cash from operations, paid dividends of $123 million and used $625 million to repurchase 32 million shares of common stock.
Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, flat panel display, solar photovoltaic (PV), and related industries worldwide. The company’s Silicon Systems Group segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
Shares of Whiting Petroleum Corp. (NYSE:WLL), declined -4.43% to $19.19, during its last trading session, as U.S. oil prices tumbled more than 3 percent to a 6-1/2-year low under $42 a barrel on Thursday as data showing a big rise in key U.S. stockpiles intensified worries over a growing global glut, according to Reuters.
A rise in the dollar .DXY, after news of higher U.S. retail sales in July and strengthening employment data, added to the weight on oil. Reuters Reports
Whiting Petroleum Corporation, an independent oil and gas company, acquires, explores, develops, and produces crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the United States. It sells oil and gas to end users, marketers, and other purchasers.
Finally, The Boeing Company (NYSE:BA), ended its last trade with 1.67% gain, and closed at $144.81.
The Boeing Company Chairman Jim McNerney declared that the company’s board of directors has elected Lynn Good as a new member.
Good, 56, is president and CEO of Duke Energy, the largest U.S. electric power company, serving about 23 million people in the Carolinas, Florida and the Midwest. She also serves as vice chair of Duke Energy’s board of directors.
Preceding to assuming her current role in 2013, Good served as Duke Energy CFO and led the company’s commercial energy businesses during their initial development of renewable energy projects. She has also been a partner at Deloitte & Touche and Arthur Andersen.
Good will serve on the Boeing board’s Audit and Finance committees.
The Boeing Company, together with its auxiliaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide.
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