On Friday, in the course of Afternoon trade, Shares of American Electric Power Company Inc (NYSE:AEP), climbed 1.19%, and is now trading at $57.00.
A. Wade Smith has been named senior vice president - Transmission Grid Development for American Electric Power (AEP), effective Aug. 3. He will report to Lisa M. Barton, AEP’s executive vice president - Transmission, and will oversee transmission planning, engineering, project services and reliability compliance. Smith presently serves as president and chief operating officer of AEP Texas.
The move is part of a realignment of AEP’s transmission business to manage growth and streamline operations. Scott N. Smith, presently senior vice president - Transmission Grid Development and Portfolio Services, will assume a new role as senior vice president - Transmission Controls and Field Services. He will continue to report to Barton, will provide support for the transmission projects in AEP’s operating companies and will have responsibility for financial controls and transmission operations across the company’s 11-state footprint.
American Electric Power Company, Inc., a public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers. The company generates electricity using coal and lignite, natural gas, nuclear, and hydroelectric and other energy sources.
During an Afternoon trade, Shares of Oil States International, Inc. (NYSE:OIS), dipped -1.04%, and is now trading at $30.58.
Oil States International, stated net income for the second quarter ended June 30, 2015 of $6.1 million, or $0.12 per diluted share, which comprised of pre-tax charges of $1.7 million for severance and other downsizing initiatives. Not taking into account these second quarter 2015 charges, net income would have totaled $7.5 million, or $0.15 per diluted share. These results compare to adjusted net income from ongoing operations of $47.6 million, or $0.88 per diluted share, stated in the second quarter of 2014. The results for the second quarter of 2014 excluded spin-off related charges totaling $110.0 million, or $1.33 per diluted share after-tax, associated with the May 30, 2014 spin-off of Oil States’ accommodations segment into a stand-alone, publicly traded corporation, Civeo Corporation or Civeo.
During the second quarter of 2015, the Company generated revenues of $269.3 million and Adjusted EBITDA (A) of $43.2 million (not taking into account $1.7 million of severance and downsizing related charges). These results compare to revenues of $459.6 million and Adjusted EBITDA (A) of $109.1 million (not taking into account $9.6 million of transaction costs stated in the second quarter of 2014), representing year-over-year declines of 41% and 60%, respectively. Activity declines were broad based and comprised of lower North American activity levels resulting from the noteworthydecline in crude oil prices, the corresponding precipitous drop in the U.S. land drilling rig count which continued throughout the second quarter, further activity declines due to certain customers who have elected to drill wells but not complete them, reduced pricing for our completion service offerings, and a reduction in short-cycle revenues in the offshore products business.
Oil States International, Inc., through its auxiliaries, provides specialty products and services to oil and natural gas companies worldwide. It operates through two segments, Offshore Products and Well Site Services.
Shares of Fluor Corporation (NEW) (NYSE:FLR), during its Friday’s current trading session fell -6.68%, and is now trading at $47.52.
Fluor Corporation, declared that it has signed an agreement to divest 50 percent of shares in its Spanish operations, Fluor S.A., to Sacyr Industrial S.L.U., a leading multinational Spanish construction company. The new entity, SacyrFluor, will be headquartered in Fluor’s Madrid operations center. The value of the divestiture is €39 million.
SacyrFluor will provide project administration, engineering, procurement, construction administration and self-perform construction services for the energy and chemicals industry in Spain, Southern Europe, North Africa and certain countries in South America.
Fluor Corporation, through its auxiliaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project administration services worldwide.
Finally, DENTSPLY International Inc. (NASDAQ:XRAY), gained 1.34% Friday.
DENTSPLY International, declared sales and earnings for the three months ended June 30, 2015.
Second Quarter Results
Net sales in the second quarter of 2015 of $698.0 million reduced 8.8% contrast to $765.2 million in the second quarter of 2014. Net sales, not taking into account metals content, of $674.7 million reduced 7.7% contrast to $730.9 million in the second quarter of 2014. The revenue decline, not taking into account precious metals, primarily reflects constant currency growth of 3.2% that was more than offset by a 10.9% headwind from foreign currency translation.
Net income attributable to DENTSPLY International for the second quarter of 2015 was $44.1 million, or $0.31 per diluted share, contrast to $90.0 million, or $0.62 per diluted share in the second quarter of 2014. On an adjusted basis, not taking into account certain items, net earnings per diluted share grew 6% to $0.73 contrast to $0.69 in the second quarter of 2014. A reconciliation of the adjusted earnings per share, a non-US GAAP measure, to earnings per share calculated on a US-GAAP basis is offered in the attached table.
DENTSPLY International Inc. designs, develops, manufactures, and markets various consumable dental products for the professional dental market in the United States and internationally.
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.
