On Wednesday, Shares of Applied Materials, Inc (NASDAQ:AMAT), lost -0.54% to $16.44.
Applied Materials, Inc, 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.
Shares of BP plc (ADR)(NYSE:BP), declined -1.70% to $34.65, during its last trading session.
At least one Midwestern refinery is said to be considering a delay in maintenance work after trouble at BP Plc’s Whiting plant near Chicago sent regional profit margins to a seven-year high. Bloomberg
“Given how strong margins are, it wouldn’t be surprising to see some of the refinery maintenance by other refineries being pushed back by at least a week,” Amrita Sen, chief oil analyst at Energy Aspects, a London-based energy consultant, said in a phone interview. Bloomberg
BP p.l.c. operates as an integrated oil and gas company worldwide. It operates in three segments: Upstream, Downstream, and Rosneft. The Upstream segment engages in the oil and natural gas exploration, field development, and production; midstream transportation, and storage and processing; and marketing and trade of natural gas, counting liquefied natural gas (LNG), and power and natural gas liquids (NGL).
Finally, Pacira Pharmaceuticals Inc (NASDAQ:PCRX), ended its last trade with 2.87% gain, and closed at $63.81.
Pacira Pharmaceuticals Inc, declared the appointment of James B. Jones, MD, PharmD, to the position of senior vice president and chief medical officer. Dr. Jones brings more than 25 years of experience as both a practicing and teaching physician and as a senior executive at biotechnology and pharmaceutical companies, where he led the clinical development of multiple novel pain therapeutics. At Pacira, he will be primarily responsible for overseeing and guiding the company’s clinical research and development efforts for the expanded uses of EXPAREL® (bupivacaine liposome injectable suspension) and the company’s DepoFoam® pipeline of products. Dr. Jones replaces former chief medical officer Gary Patou, MD, who will remain with the company as a clinical consultant.
“Jim’s proven vision, expertise and strong background in the clinical development of pain products will play an important role in our overall strategy to augment our leadership and support the company’s growth,” said Dave Stack, president, chief executive officer and chairman of Pacira. “We believe he is well positioned to provide the passion and systematic approach for the continued clinical development of EXPAREL and our internal opportunities and to properly assess external initiatives.” Mr. Stack added, “We thank Gary for his six years of service ensuring the development and approval of EXPAREL and look forward to his continued contribution to Pacira.”
Pacira Pharmaceuticals, Inc., a specialty pharmaceutical company, develops, commercializes, and manufactures proprietary pharmaceutical products primarily for use in hospitals and ambulatory surgery centers in the United States.
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