On Wednesday, in the course of Afternoon trade, Shares of Owens Corning (NYSE:OC), climbed 1.63%, and is now trading at $43.71.
Owens Corning, stated merged net sales of $1.41 billion in the second quarter of 2015, up from $1.36 billion in 2014.
Second-quarter 2015 adjusted earnings were $93 million, or $0.79 per diluted share, up from the adjusted earnings of $45 million, or $0.38 per diluted share, in the same period last year. Net earnings in the second quarter of 2015 were $91 million, or $0.77 per share, contrast to second-quarter 2014 net earnings of $21 million, or $0.18 per diluted share.
Owens Corning, together with its auxiliaries, produces and sells glass fiber reinforcements and other materials for composite systems; and residential and commercial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing.
During an Afternoon trade, Shares of Goldman Sachs Group Inc (NYSE:GS), climbed 0.26%, and is now trading at $206.77.
Goldman Sachs Asset Administration, declared the appointment of Lawrence W. Stranghoener and Michael Latham to each Fund’s Board of Trustees. The appointment of Mr. Stranghoener and Mr. Latham brings the total size of the Board of Trustees to six, five of whom are independent.
Lawrence W. Stranghoener
Mr. Stranghoener is stepped down. Mr. Stranghoener is a member of the Board of Directors of Kennametal, Inc., a global manufacturer and distributor of tooling and industrial materials, where he serves on the Audit and Compensation Committees. He is also a member of the Board of Directors of Aleris Corporation and Aleris International, Inc., which provides aluminum rolled products and extrusions, aluminum recycling, and specification alloy production, where he chairs the Audit Committee and also serves on the Compensation Committee. Formerly, Mr. Stranghoener held several senior administration positions at Mosaic Company, a fertilizer manufacturing company, where he worked for 10 years, most recently as Interim Chief Executive Officer, Executive Vice President and Chief Financial Officer. As Executive Vice President and Chief Financial Officer at Mosaic Company, Mr. Stranghoener implemented public company processes, policies and performance standards to transition the company from private to public ownership and oversaw the company’s controller, treasury, tax, investor relations, strategy and business development, and internal audit functions. He also led the integration of Mosaic Company with IMC Global, Inc. during their merger. Formerly, Mr. Stranghoener served for three years as Executive Vice President and Chief Financial Officer for Thrivent Financial for Lutherans, a non-profit, financial services organization and Techies.com, an internet-based professional services company. Mr. Stranghoener also held several senior administration positions at Honeywell International, Inc. where he worked for 17 years, most recently as Vice President and Chief Financial Officer. In addition, he serves on the Board of Regents of St. Olaf College. Based on the foregoing, Mr. Stranghoener is practiced with financial and investment matters.
The Goldman Sachs Group, Inc. operates as an investment banking, securities, and investment administration company worldwide. The company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Administration.
Shares of U.S. Silica Holdings Inc (NYSE:SLCA, during its Wednesday’s current trading session raised 16.93%, and is now trading at $25.34.
U.S. Silica Holdings, declared net income of $10.0 million or $0.19 per basic and $0.18 per diluted share for the second quarter ended June 30, 2015 contrast with net income of $28.7 million or $0.53 per basic share and diluted share for the second quarter of 2014. The second quarter earnings per share comprised of a tax benefit of $0.12 per share, which was the result of an update to the estimated annual effective tax rate from 25% to 0%. Not taking into account the tax benefit, business development related expenses and restructuring costs for actions designed to assist bring the business more in line with current market conditions, EPS was $0.08 per basic share.
“I am very proud of what our team achieved during this very challenging and dynamic quarter. Our Industrial segment produced double digit bottom line growth, and we grew share in our Oil and Gas segment while making the tough decisions necessary to reduce costs across the Company,” said Bryan Shinn, president and chief executive officer. “Looking ahead at our Oil and Gas business, we believe sales volumes are stabilizing but pricing is likely to remain fluid in the near-term. For Industrials, we expect continued strong performance, driven by a combination of contributions from new, higher margin products, new business opportunities and healthy end markets for our major product lines,” he added.
U.S. Silica Holdings, Inc. produces and sells commercial silica in the United States. It operates through two segments, Oil & Gas Proppants, and Industrial & Specialty Products. The company offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery, in addition to sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products.
Finally, Callon Petroleum Company (NYSE:CPE), gained 5.70% at $6.84.
EnerCom, will host The Oil & Gas Conference 20, August 16-20, 2015, in Denver at the Westin Denver Downtown. The Conference is the oldest and largest energy investment conference hosted in Denver. Investment and oil and gas professionals interested in attending the event can register through the conference website.
Callon Petroleum Company engages in the exploration, development, acquisition, and production of oil and natural gas properties in the Permian Basin in West Texas. As of December 31, 2014, its estimated net proved reserves totaled 32.8 million barrel of oil equivalent, counting 25.7 million barrels of oil and 42.5 billion cubic feet of natural gas. The company was founded in 1950 and is headquartered in Natchez, Mississippi.
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