During Wednesday’s Afternoon trade, Shares of WESCO International, Inc. (NYSE:WCC), gain 0.67% to $59.96.
ESCO International, Inc. (WCC), a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain administration and logistics services, declares its 2015 second quarter results.
The following are results for the three months ended June 30, 2015 contrast to the three months ended June 30, 2014:
- Net sales were $1,916.7 million for the second quarter of 2015, contrast to $2,005.2 million for the second quarter of 2014, a decrease of 4.4%. Normalized organic sales reduced 3.0%; foreign exchange rates negatively influenced sales by 3.0% and were partially offset by a 1.6% positive impact from acquisitions. Sequentially, sales raised 5.5%, and normalized organic sales raised 1.1%.
- Gross profit was $381.6 million, or 19.9% of sales, for the second quarter of 2015, contrast to $411.8 million, or 20.5% of sales, for the second quarter of 2014.
WESCO International, Inc. distributes electrical, industrial, and communications maintenance, repair, and operating (MRO) products; and original equipment manufacturers products and construction materials in North America and internationally. It also provides supply chain administration and logistics services.
Shares of Zions Bancorporation (NASDAQ:ZION), inclined 1.14% to $31.41, during its Afternoon trading session.
Zions Bancorporation (ZION) stated second quarter net income of $14.0 million and a net loss applicable to common shareholders of $(1.1) million, or $(0.01) per diluted common share. During the second quarter, the Company sold the remaining portfolio of its collateralized debt obligation (“CDO”) securities and recognized a one-time pretax loss of about $137 million, or $0.42 after-tax per diluted common share. Shareholders’ equity was not adversely affected as the loss had been formerly recognized in accumulated other comprehensive income (“AOCI”). Not taking into account the loss, net earnings applicable to common shareholders was $83.4 million, or $0.41 per diluted common share, for the second quarter of 2015, contrast to $75.3 million, or $0.37 per diluted common share, for the first quarter of 2015.
Second Quarter 2015 Highlights
- Credit quality metrics were generally stable with a decrease in nonaccruing loans and a slight enhance in classified loans from the preceding quarter. Annualized net charge-offs were 0.11% of average loans. The overall effect contributed to a $0.6 million provision for loan losses.
- Total noninterest expense was $404 million during the second quarter and $802 million year-to date. Certain one-time and seasonal expenses during the second quarter of 2015 were partially offset by other expense credits, counting insurance recoveries of $9.2 million. The Company is maintaining its commitment to hold noninterest expenses below $1.6 billion in 2015 and 2016.
Zions Bancorporation, a financial holding company, provides a range of banking and related services in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash administration and related products and services; and residential mortgage servicing and lending. It also provides trust and wealth administration services; limited capital markets services, counting municipal finance advisory and underwriting; and investment services.
SLM Corp (NASDAQ:SLM), during its Wednesday’s Afternoon trading session decreased -0.38% to $9.14.
Sallie Mae (SLM), the nation’s saving, planning and paying for College Company, declared a 2015 third-quarter dividend on its Preferred Stock Series A of 6.97 percent, or $0.87125 per share. The dividend will be paid on July 30, 2015, to stockholders of record at the close of business on July 20, 2015.
On March 31, 2015, Sallie Mae had about 3.3 million shares of Preferred Stock Series A outstanding.
SLM Corporation, together with its auxiliaries, operates as a saving, planning, and paying for education company in the United States. The company offers private education loans to students and their families. It also provides banking products, such as high yield savings accounts, money market accounts, and certificates of deposits; and operates a consumer savings network that offers financial rewards on everyday purchases to assist families save for college. SLM Corporation was founded in 1972 and is headquartered in Newark, Delaware.
Finally, Raytheon Company(NYSE:RTN), gained 3.64%, to $108.71.
Raytheon Company (RTN) declared net sales for the second quarter 2015 were $5.8 billion contrast to $5.7 billion in the second quarter 2014. Second quarter 2015 EPS from ongoing operations was $1.65 contrast to $1.59 in the second quarter 2014. Second quarter 2015 EPS from ongoing operations comprised of a favorable FAS/CAS Adjustment of $0.10 contrast to a favorable FAS/CAS Adjustment of $0.18 in the second quarter 2014. In addition, second quarter 2015 EPS from ongoing operations comprised of, as predictable, a $0.29 favorable impact from a tax settlement.
The Company had bookings of $7.6 billion in the second quarter 2015, resulting in a book-to-bill ratio of 1.30. In the second quarter 2014, bookings were $6.8 billion. Year-to-date 2015 bookings were $12.1 billion, resulting in a book-to-bill ratio of 1.08. Year-to-date 2014 bookings were $11.1 billion.
Raytheon Company develops integrated products, services, and solutions in the areas of sensing; effects; command, control, communications, and intelligence; mission support; and cyber and information security worldwide. It operates in four segments: Integrated Defense Systems (IDS); Intelligence, Information, and Services (IIS); Missile Systems (MS); and Space and Airborne Systems (SAS). The IDS segment provides integrated air and missile defense; radar solutions; naval combat and ship electronic systems; command, control, communications, computers, and intelligence solutions; and air traffic administration systems.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
