On Wednesday, Shares of Bank of America Corporation (NYSE:BAC), gained 2.05% to $18.45, hitting its highest level.
Bank of America Corporation’s Chief Executive Officer Brian Moynihan recently declared changes to the company’s administration team.
Chief Financial Officer Bruce Thompson has decided to step down after 5 ½ years as chief risk officer and chief financial officer. Global Human Resources Executive Andrea Smith will assume a newly created position as chief administrative officer. Vice Chairman David Darnell has decided to retire by the fourth quarter, after more than 35 years with the company.
Paul Donofrio, who has been with Bank of America since 1999 and has 25 years of global corporate and investment banking experience, will become CFO, effective August 1.
Bank of America Corporation is a bank holding company. The company, through its auxiliaries, operates through Consumer and Business Banking; Consumer Real Estate Services; Global Wealth and Investment Administration; Global Banking; Global Markets; and Other segments.
Shares of Thoratec Corp. (NASDAQ:THOR), inclined 10.21% to $63.46, during its last trading session, hitting its highest level.
Thoratec Corporation declared preliminary unaudited revenue in the range of $128 million to $129 million for the second quarter of 2015.
In a separate declaration recently, Thoratec revealed that it has reached a contract and plan of merger with St. Jude Medical following which St. Jude Medical would acquire all of the outstanding shares of Thoratec’s common stock.
Thoratec will release financial results for the second quarter on Tuesday, August 4. The company will hold a conference call to talk about its financial results and operating activities, open to all interested parties, at 1:30 p.m., Pacific Daylight Time (4:30 p.m., Eastern Daylight Time), Tuesday, August 4. However, due to the pending transaction with St. Jude Medical, the company will not be hosting a question and answer session during the second quarter conference call.
Thoratec Corporation, together with its auxiliaries, develops, manufactures, and markets proprietary medical devices used for mechanical circulatory support for the treatment of heart failure patients.
Finally, Owens Corning (NYSE:OC), ended its last trade with 5.72% gain, and closed at $45.62.
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.
Merged Second-Quarter 2015 Results
- Owens Corning continued to perform at a high level of safety with a Recordable Incident Rate (RIR) of 0.53 for the six months ending June 30, 2015. The second quarter demonstrated improvement as compared to the first quarter.
- Adjusted earnings before interest and taxes (adjusted EBIT) in the second quarter of 2015 were $156 million, up from $96 million in 2014. Stated EBIT for the second quarter was $156 million, contrast with $73 million during the same period in 2014. (See Table 2.)
- During the second quarter, Owens Corning repurchased 0.7 million shares of the company’s common stock for $28 million. As of June 30, 2015, 6.6 million shares remained accessible for repurchase under the company’s current authorization.
- The company’s Board of Directors declared a quarterly cash dividend of $0.17 per common share. The dividend will be payable on August 4, 2015 to shareholders of record as of July 20, 2015.
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.
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