During Monday’s Current trade, Shares of Cenovus Energy Inc (USA) (NYSE:CVE), gain 1.44% to $14.13.
Cenovus Energy Inc. (CVE) continues to deliver strong operational performance, with dependable oil sands production growth and meaningful cost reductions. The company has undertaken a number of noteworthy initiatives to strengthen its financial resilience and is now taking further steps intended to enhance value for shareholders during this extended period of low oil prices and market volatility. The company’s actions are aimed at maintaining its balance sheet and assisting to ensure Cenovus is operating with the greatest efficiency. In addition, Cenovus has adjusted its previous capital investment strategy and plans to take a more moderate approach to the growth of its oil sands assets.
Cenovus has already delivered on a number of its 2015 commitments, counting reducing capital and discretionary spending, achieving meaningful improvements in its operating, capital and general and administrative (G&A) costs, making initial workforce reductions, and crystallizing noteworthyvalue for shareholders by selling its royalty and fee land business at an attractive price. Recently, Cenovus is announcing further measures, counting an adjustment to its dividend and additional cost-cutting initiatives, to further align the company with the economic realities facing the oil and gas industry and assist ensure it can remain competitive with oil production across North America.
Cenovus Energy Inc., an integrated oil company, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada with refining operations in the United States. The company’s Oil Sands segment engages in the development and production of bitumen assets at Foster Creek, Christina Lake, Narrows Lake, and the Athabasca natural gas assets, in addition to projects in the early stages of development, such as Grand Rapids and Telephone Lake. Its Conventional segment develops and produces conventional crude oil, NGLs, and natural gas in Alberta and Saskatchewan, counting the heavy oil assets at Pelican Lake.
Shares of Sierra Wireless, Inc. (USA) (NASDAQ:SWIR), declined -0.18% to $22.15, during its current trading session.
Sierra Wireless, Inc. (SWIR) stated results for its second quarter, ending June 30, 2015. All results are stated in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (GAAP), except as otherwise indicated below.
GAAP RESULTS
- Gross margin was $50.9 million, or 32.3% of revenue, in the second quarter of 2015, contrast to $43.3 million, or 32.1% of revenue, in the second quarter of 2014.
- Operating expenses were $46.8 million and earnings from operations were $4.1 million in the second quarter of 2015, contrast to operating expenses of $49.6 million and a loss from operations of $6.3 million in the second quarter of 2014.
- Net earnings were $4.1 million, or $0.12 per diluted share, in the second quarter of 2015, contrast to a net loss of $8.2 million, or $0.26 per diluted share, in the second quarter of 2014.
Sierra Wireless, Inc., together with its auxiliaries, provides cellular wireless solutions to the machine-to-machine (M2M) and connected device markets in North America, Europe, and the Asia Pacific. It operates in two segments, Original Equipment Manufacturer (OEM) Solutions and Enterprise Solutions.
Tesoro Corporation (NYSE:TSO), during its Monday’s current trading session gained 2.57% to $104.65.
Tesoro Corporation ( TSO ) stated second quarter 2015 net earnings of $582 million, or $4.59 per diluted share contrast to net earnings of $224 million, or $1.70 per diluted share for the second quarter of 2014. Net earnings from ongoing operations for the second quarter were $586 million or $4.62 per diluted share. Adjusted EBITDA for the second quarter 2015 was $1.2 billion contrast to $548 million last year.
For the second quarter 2015, the Company recorded segment operating income of $1.1 billion contrast to segment operating income of $494 million in the second quarter of 2014. The enhance was largely driven by strong demand, continued growth in the logistics segment and business improvements.
The refining segment`s operating income was $753 million for the quarter, contrast to $358 million in the second quarter of 2014. Our refineries benefited from a substantially improved margin environment and lower operating expenses partially offset by turnarounds and maintenance activities.
Tesoro Corporation, through its auxiliaries, engages in petroleum refining and marketing activities in the United States. It operates in three segments: Refining, Tesoro Logistics LP (TLLP), and Retail. The Refining segment refines crude oil and other feed stocks into transportation fuels, such as gasoline, gasoline blend stocks, jet fuel, and diesel fuel, in addition to other products, counting heavy fuel oils, liquefied petroleum gas, petroleum coke, calcined coke, and asphalt.
Finally, WestRock Co (NYSE:WRK), gained 0.68%, to $62.61.
WestRock Company (WRK) declared that D. Michael Wilson will be the chief executive officer of the company’s specialty chemicals business that is predictable to become a publicly traded company, Ingevity, early next year as a result of a spin-off from WestRock. He will join the company on September 1, 2015.
WestRock Company manufactures and sells paper and packaging solutions for consumer and corrugated markets in North America, South America, Europe, and the Asia-Pacific. It offers folding cartons for use in various food and non-food applications; superior pumps, sprayers, and dispensing closures for home cleaning, healthcare, and beauty and personal care products; and corrugated containers for home appliances, electric motors, small machinery, produce, books, furniture, and other products.
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