On Monday, Shares of Morgan Stanley (NYSE:MS), gained 0.95% to $38.25.
Morgan Stanley, declared a definitive agreement to sell the Global Oil Merchanting unit of its Commodities division to Castleton Commodities International LLC (CCI). Financial terms of the transaction were not revealed.
The sale comprises a diversified international network of oil terminal storage agreements; inventory; physical oil purchase, sale and supply agreements; and freight shipping contracts. The transaction does not comprise Morgan Stanley’s client-facilitation oil trading business or any of its commodities operations outside of the oil sector.
The transaction is not predictable to have a material impact on Morgan Stanley’s financial results. Among other conditions, it is subject to regulatory approvals in the U.S., the E.U. and certain other jurisdictions. It is targeted to close in the second half of 2015.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The companys Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, in addition to provides capital raising and corporate lending services.
Shares of Joy Global, Inc. (NYSE:JOY), inclined 5.21% to $44.22, during its last trading session.
Joy Global, declared that administration will take part in the Bank of America Merrill Lynch Global Industrials & EU Autos Conference being held at the Bank of America Merrill Lynch Financial Centre in London, England. Ted Doheny, President and Chief Executive Officer, is planned to present at the conference on Tuesday, March 17, at 6:35am EDT.
Joy Global Inc. manufactures and services mining equipment for the extraction of coal, copper, iron ore, oil sands, gold, and other minerals. It operates in two segments, Underground Mining Machinery and Surface Mining Equipment.
At the end of Monday’s trade, Shares of Symantec Corporation (NASDAQ:SYMC), lost -0.37% to $25.43.
Since announcing its plan to separate into two publicly traded companies, Symantec Corporation, reached another important milestone by appointing Sanjay Rohatgi as the sales leader to lead and drive growth across its enterprise security business and support customers and partners in Asia Pacific & Japan (APJ). Based in Singapore, Rohatgi will be responsible for growing the company’s presence and market position across the region, in addition to leading business operations and business development.
Rohatgi takes over from Adrian Jones who has been promoted to executive vice president for worldwide sales for Symantec. Preceding to his appointment as the senior vice president for Symantec in APJ, Rohatgi was vice president — Sales for Symantec in India responsible for leading the business and driving growth across the enterprise security and information administration businesses.
An industry veteran, Rohatgi has worked in the Information Communication Technology industry for more than 24 years in various roles across multiple geographies. Rohatgi joined Symantec after an illustrious career at Cisco where, most recently, he held the position of Managing Director, Service Provider for India and SAARC. In this capacity, Rohatgi was responsible for leading Cisco’s business with telecom service providers and cable operators across the region. Under his leadership, Cisco was recognized for local innovation and leveraging India based R&D to create market specific solutions.
Symantec Corporation, together with its auxiliaries, provides security, backup, and availability solutions worldwide. Its products and services protect people and information in any environment from mobile devices and enterprise data centers to cloud-based systems.
Finally, Rackspace Hosting, Inc. (NYSE:RAX), ended its last trade with -1.61% loss, and closed at $53.13.
Rackspace Hosting, declared financial results for the quarter that ended March 31, 2015.
On a GAAP basis, net revenue for the first quarter of 2015 was $480 million, up 14.1 percent from the first quarter of 2014. These results were adversely affected by shifts in currency exchange rates. On a constant currency basis, net revenue grew 16.6 percent from the first quarter of 2014.
Adjusted EBITDA for the quarter was $161 million, up 15.5 percent from the first quarter of 2014. Net income for the first quarter was $28 million, for a margin of 5.9 percent, down from 6.0 percent in the first quarter of 2014.
For the first quarter of 2015, cash flow from operating activities was $145 million, capital expenditures were $90 million, and Adjusted Free Cash Flow was $67 million. At the end of the first quarter of 2015, cash and cash equivalents were $276 million, and interest-bearing debt counting capital lease obligations totaled $11 million. Return on Capital was 12.6 percent in the first quarter of 2015 contrast to 11.5 percent in the first quarter of 2014.
On a worldwide basis, Rackspace employed 5,964 Rackers as of March 31, 2015.
Rackspace Hosting, Inc., through its auxiliaries, provides cloud computing services and managing Web-based IT systems for small and medium-sized businesses and large enterprises worldwide. The company’s service offering combines hosting on dedicated hardware and on multi-tenant pools of virtualized hardware in a way that suits each customer’s requirements.
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