During Monday’s Current trade, Shares of T. Rowe Price Group Inc (NASDAQ:TROW), lost -2.52% to $70.27.
T.Rowe Price Group, Inc. (TROW) stated its second quarter of 2015 results, counting net revenues of $1.1 billion, net income of $333.2 million, and diluted earnings per common share of $1.24. On a comparable basis, net revenues were $984.3 million, net income was $305.8 million, and diluted earnings per common share was $1.13 in the second quarter of 2014.
For the three-month period ended June 30, 2015, the net cash inflows after client transfers into the mutual funds of $1.4 billion comprise net inflows of $1.5 billion into the fixed income funds and $.4 billion into the stock and blended asset funds. These net inflows were offset by net outflows from money market funds of $.5 billion. The net cash outflows during the second quarter of 2015 from the other investment portfolios were largely concentrated among a small number of institutional and subadvised clients who redeemed primarily from large-cap U.S. equity strategies. The firm’s overall net cash flows for the second quarter of 2015 comprise $5.2 billion that originated in the firm’s target-date retirement strategies, which totaled $166.5 billion in assets under administration at June 30, 2015. These target-date assets contribute to the nearly $213 billion of assets under administration in the firm’s asset allocation portfolios.
T.Rowe Price Group, Inc. is a publicly owned asset administration holding company. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. Through its auxiliaries, it launches and manages equity and fixed income mutual funds. The firm also launches balanced mutual funds and private equity funds.
Shares of Cheetah Mobile Inc (ADR) (NYSE:CMCM), declined -4.99% to $16.94, during its current trading session.
Cheetah Mobile Inc. (CMCM) a leading mobile internet company that provides mission critical applications to assist make the internet and mobile experience speedier, simpler, and safer for users worldwide, declared its unaudited financial results for the quarter ended June 30, 2015.
Second Quarter 2015 Financial Highlights
- Overseas revenues[1] raised by 1,832.0% year-over-year and 68.3% quarter-over-quarter to RMB431.4 million (US$69.6 million), which was driven by a noteworthy ramp-up in mobile advertising revenues in overseas markets. Overseas revenues accounted for 50% of total revenues and 77% of mobile revenues.
- Mobile revenues[2] raised by 634.0% year-over-year and 52.3% quarter-over-quarter to RMB559.6 million (US$90.3 million), which was primarily driven by a noteworthy growth in mobile advertising revenues in both the overseas and domestic markets. Mobile revenues accounted for 64% of total revenues.
- Total revenuesraised by 128.9% year-over-year and 29.5% quarter-over-quarter to RMB870.5 million (US$140.4 million).
Cheetah Mobile Inc. operates a platform that offer mobile and PC applications for users and global content distribution channels for business partners in China. The company’s suite of applications optimizes mobile and PC Internet system performance and provides real time protection against known and unknown security threats. Its mobile and PC applications for users comprise Clean Master, a junk file cleaning, memory boosting, and privacy protection tool for mobile devices; CM Security, an anti-virus and security application for mobile devices; Battery Doctor, a power optimization tool for mobile devices; Cheetah Browser, a safe Web browser for PCs and mobile devices; and CM Launcher, which is a secure launcher that offers acceleration, secure protection, and stylish wallpapers, in addition to automatically organizes mobile phones based on personal behavior; Photo Grid, a photo collage application that allows users to create professional looking collages of photos through an intuitive interface for mobile devices; and Duba Anti-virus, an Internet security application for PC and mobile devices.
Emerson Electric Co. (NYSE:EMR), during its Monday’s current trading session decreased -2.59% to $46.73.
Emerson Process Administration, a global business of Emerson (EMR), is automating the Shehong Liushu Hydropower Project that will bring clean electrical power to China’s Sichuan province.
Hydropower development, particularly small hydropower, has been gaining traction in China as a clean energy source that can supplement thermal power sources and electrify rural areas. This project by Tuopai Power Development Co. Ltd. comprises of three 16-megawatt units to assist meet the growing energy needs of the Shehong region in southwest Sichuan. The first unit is predictable to be operational in March 2016.
Emerson will provide its Ovation™ control and SCADA technology to manage hydropower operations. Tuopai Power Development is among the first hydropower generators in China to adopt distributed control system technology that provides tighter overall control, improved diagnostics, improved plant efficiency, reliable grid synchronization, improved cybersecurity and more efficient operator deployment.
Emerson Electric Co. provides technology and engineering solutions to industrial, commercial, and consumer markets worldwide. It operates through five segments: Process Administration, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions. The Process Administration segment offers products and technology, and engineering, project administration, and consulting services for precision measurement, control, monitoring, asset optimization, and safety and reliability of oil and gas reservoirs and plants. This segment serves end markets in oil and gas, refining, chemicals, power generation, pharmaceuticals, food and beverages, pulp and paper, metals and mining, and municipal water supplies.
Finally, Tesla Motors Inc (NASDAQ:TSLA), decreased -2.96%, to $223.94.
Tesla ( TSLA) declared that it intends to offer, subject to market and other conditions, $500 million of additional shares of common stock in an underwritten registered public offering. In addition, Tesla intends to grant the underwriters a 30-day option to purchase up to $75 million of additional shares of common stock.
Elon Musk, Tesla’s CEO, intends to purchase $20 million of common stock in this offering at the public offering price.
Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the United States, China, Norway, and internationally. It also provides development services to develop electric vehicle powertrain components and systems for other automotive manufacturers.
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