On Tuesday, Shares of JD.com, Inc. (NASDAQ:JD), gained 1.03% to $32.48.
JD.com unveiled an improved version of its online enterprise procurement platform, JD Enterprise, and declared that it has joined an alliance of leading companies from across the enterprise procurement industry to provide faster, more convenient and more cost-effective procurement solutions to corporate customers across China.
The JD Enterprise Intelligent Procurement Platform, launched in late 2014, uses data-driven insights to make the procurement process more efficient for both suppliers and customers. The new services unveiled recently will enable corporate customers to manage more of their procurement functions directly via JD Enterprise, reducing costs and raising efficiency.
“Capturing more of the enterprise procurement sector is an important precedingity for JD.com, and this move to provide an even more convenient, user-friendly and cost effective procurement platform is a big step towards further cementing our leadership position,” said Chunzheng Song, General Manager of JD Enterprise. “The added ease of making major enterprise purchases on our platform builds on JD.com’s industry-leading differentiators in the areas of product authenticity and delivery speed.”
The new services were unveiled at an event in Beijing recently where JD.com joined with leading suppliers, independent software vendors and service providers, counting Lenovo, HP and Canon, to declare a new enterprise procurement alliance. The members of the alliance will work together to build an integrated enterprise procurement ecosystem that will provide logistics, financing and data-related support to enable companies to enhance their online procurement capabilities.
JD.com, Inc., through its auxiliaries, operates as an online direct sales company in the People’s Republic of China. It primarily offers electronics and home appliances products; and general merchandise products, counting audio and video products, and books.
Shares of Cabot Oil & Gas Corporation (NYSE:COG), inclined 1.36% to $26.80, during its last trading session.
Cabot Oil & Gas Corporation stated its financial and operating results for the second quarter of 2015. “Despite our planned decision to curtail Marcellus volumes in the second quarter due to the adverse price environment, Cabot still generated production growth and reduced unit costs year-over-year,” said Dan O. Dinges, Chairman, President and Chief Executive Officer. “Our top-tier Marcellus asset affords us the ability to reduce our gross production volumes by about 500 million cubic feet (Mmcf) per day and still report positive normalized results.”
Second Quarter 2015 Financial Results
Equivalent production in the second quarter of 2015 was 138.0 billion cubic feet equivalent (Bcfe), comprising of 128.4 billion cubic feet (Bcf) of natural gas and 1.6 million barrels (Mmbbls) of liquids (crude oil/condensate/natural gas liquids). These figures represent enhances of 8 percent, 5 percent, and 68 percent, respectively, contrast to the second quarter of 2014.
Cash flow from operations in the second quarter of 2015 was $171.2 million, contrast to $329.6 million in the second quarter of 2014. Discretionary cash flow in the second quarter of 2015 was $183.2 million, contrast to $332.3 million in the second quarter of 2014. Net loss in the second quarter of 2015 was $27.5 million, or $0.07 per share, contrast to net income of $118.4 million, or $0.28 per share, in the second quarter of 2014. Not taking into account the effect of selected items counting a $36.5 million after-tax non-cash mark-to-market loss on natural gas derivatives, net income was $14.6 million, or $0.03 per share, in the second quarter of 2015, contrast to $115.3 million, or $0.28 per share, in the second quarter of 2014. EBITDAX in the second quarter of 2015 was $203.9 million, contrast to $367.1 million in the second quarter of 2014. Noteworthy reductions in realized prices for both natural gas and oil were the primary drivers for the lower results in the quarter, partially offset by higher equivalent production. See the supplemental tables at the end of this press release for a reconciliation of non-GAAP measures counting discretionary cash flow, net income not taking into account selected items, EBITDAX and net debt to adjusted capitalization ratio.
Cabot Oil & Gas Corporation, an independent oil and gas company, develops, exploits, explores for, produces, and markets natural gas, oil, and natural gas liquids in the United States.
Finally, Devon Energy Corporation (NYSE:DVN), ended its last trade with 2.38% gain, and closed at $49.99.
Devon Energy Corporation declared plans to issue its second-quarter 2015 earnings news release on Tuesday, Aug. 4, after the close of U.S. financial markets.
On Wednesday, Aug. 5, the Company will hold a conference call at 10 a.m. Central Time (11 a.m. Eastern Time), which will comprise primarily of answers to questions from analysts and investors.
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs) in the United States and Canada. It holds interests in various properties located in Anadarko Basin, Barnett Shale, Eagle Ford, Mississippian-Woodford Trend, Permian Basin, and Rockies in the United States, in addition to in the Jackfish and Pike heavy oil projects located in Alberta, Canada. As of December 31, 2014, the company had 689 MMBoe of proved undeveloped reserves.
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