On Friday, Shares of Momo Inc (ADR) (NASDAQ:MOMO), lost -6.95% to $13.78.
Momo Inc., declared its unaudited financial results for the second quarter 2015.
Second Quarter 2015 Highlights
- Net revenues rose 264% year over year to $30.7 million.
- Net income attributable to Momo Inc. was $1.7 million, contrast to a net loss of $7.0 million for the same period last year.
- Non-GAAP net income attributable to Momo Inc. (note 1) was $6.0 million contrast to a non-GAAP net loss of $5.4 million for the same period last year.
- Diluted net income per American Depositary Share (“ADS”) was $0.01, contrast to a diluted net loss per ADS of $1.16 for the same period last year.
- Non-GAAP diluted net income per ADS (note 1) was $0.03, contrast to a non-GAAP diluted net loss per ADS of $1.11 for the same period last year.
- Monthly Active Users (“MAU”) were 78.4 million in June 2015, enhance of 47% year over year.
Momo Inc. operates as a mobile-based social networking platform in the Peoples Republic of China. The company’s platform comprises its Momo mobile application and various related features, functionalities, tools, and services that are offered to users, customers, and platform partners.
Shares of QLogic Corporation (NASDAQ:QLGC), inclined 3.71% to $9.50, during its last trading session.
QLogic Corp., declared that the board has designated Christine King as executive chairman and Jean Hu as acting CEO. King has served as a member of the board of directors since 2013 and formerly served as president and CEO of Standard Microsystems Corporation and AMI Semiconductor. Hu has served as senior vice president and chief financial officer since 2011 and will continue in that role and retain her CFO responsibilities while serving as acting CEO.
Prasad Rampalli has resigned his positions as president and chief executive officer in order to pursue other opportunities.
“On behalf of the board, I would like to thank Prasad for his contributions to QLogic. We wish Prasad well in his future endeavors,” said Chris King, executive chairman, QLogic.
QLogic Corporation designs and supplies high performance server and storage networking infrastructure products that provide, enhance, and manage computer data communication. Its products facilitate the transfer of data and enable resource sharing between servers, networks, and storage.
At the end of Friday’s trade, Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO), gained 0.87% to $17.33.
Halozyme Therapeutics declared the appointment of Jeffrey W. Henderson to its board of directors. Henderson brings nearly 30 years of financial, commercial, and pharmaceutical industry expertise to the board, most recently serving for almost 10 years as chief financial officer of $100-billion health care products and services company, Cardinal Health.
Henderson served as CFO of Cardinal Health from 2005 until late last year, playing a key role in the company’s growth and transformation. During his tenure, the company attained more than 30 companies, spun-off or sold multi-billion-dollar businesses and expanded into new geographies and market segments. In addition to his financial responsibilities, Henderson also managed commercial operations in China and Canada.
Preceding to Cardinal Health, Henderson was president and general manager of Eli Lilly Canada Inc. and vice president and corporate controller of Eli Lilly & Co. He joined Lilly in 1998 as vice president and corporate treasurer. His preceding experience comprised of 10 years at General Motors Corp., where he served executive and managerial posts in Great Britain, Singapore, New York and Canada. He received his Bachelor of Science degree in electrical engineering from Kettering University, Flint, Mich., and his Master of Business Administration degree from Harvard Graduate School of Business Administration. Henderson is a native of St. Catharines, Ontario, Canada.
Halozyme Therapeutics, Inc., a biotechnology company, researches, develops, and commercializes human enzymes. Its human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter abnormal tissue structures for clinical benefit.
Finally, Molson Coors Brewing Company (NYSE:TAP), ended its last trade with -2.79% loss, and closed at $69.98.
Molson Coors Brewing Company stated a 9.9 percent decrease in underlying after-tax income for the second quarter 2015, driven by a higher tax rate and unfavorable foreign currency movement’s contrast to a year ago. On a U.S. GAAP basis, the company stated a 21.1 percent decline in net income to $229.3 million, due to higher special and other non-core net charges, a higher tax rate and unfavorable currency movements.
Molson Coors president and chief executive officer Mark Hunter said, In the 2nd quarter, our underlying pretax earnings on a constant-currency basis raised 5.9 percent, driven by positive net pricing, together with results of cost savings initiatives. Due to a higher tax rate and unfavorable foreign currency, our underlying after-tax income reduced 9.9 percent. We raised gross margins in the U.S., Canada, and Europe and grew net sales revenue (NSR) per hectoliter in the U.S. and Canada in local currency. Overall, Europe NSR per hectoliter declined in local currency, but if we exclude the impact of the terminated Modelo and Heineken contracts, NSR per hectoliter raised in all of our major Europe markets apart from Serbia. We also expanded global underlying operating margins, driven by our U.S. and Canada businesses. In the quarter, we continued to implement our strategy of driving brand-led profit growth, meaningful cash generation and disciplined cash and capital allocation. We have invested consistently behind our core brands, with Coors Light in the USA growing share of segment; we made progress in transforming our portfolio toward above premium, craft and cider; we expanded the depth and reach of our international brands in fast-growing markets; and we raised our commercial capability. Additionally this year, we have repatriated Staropramen lager to our U.K. portfolio, and purchased the Mount Shivalik Breweries business in India and the Rekorderlig cider brand distribution rights in the U.K. and Ireland. These acquisitions give us high-potential platforms to grow our business in key markets. We also made the decision to substantially restructure our China business as we focus on accelerating the performance of our overall International business, and we have closed our Alton brewery in the U.K. as we continue to restructure our U.K. supply chain.”
Molson Coors Brewing Company manufactures and sells beer and other beverage products. The company sells its products under the Coors Light, Molson Canadian, Carling, Carling Black Label, Coors Altitude, Coors Banquet, Creemore Springs, the Granville Island, Keystone Light, Mad Jack, Molson Canadian 67, Molson Canadian Cider, Molson Dry, Molson Export, Pilsner, and the Rickard’s family brands in Canada; and brews or distributes under the Amstel Light, Heineken, Murphy’s, Newcastle Brown Ale, Strongbow cider, Desperados, Dos Equis, Moretti, Sol, Tecate, Miller Chill, and Miller Genuine Draft brands.
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