On Monday, Shares of CNH Industrial N.V. (NYSE:CNHI), lost -1.37% to $8.66.
CNH Industrial, declared merged revenues of $5,960 million for the first quarter 2015, a decrease of 11.1% contrast to Q1 2014 on a constant currency basis (down 21.0% on a stated basis). Net sales of Industrial Activities were $5,625 million in Q1 2015, down 11.9% contrast to Q1 2014 on a constant currency basis (down 22.0% on a stated basis). Net of the negative impact of currency translation, net sales raised for Commercial Vehicles (+5.6%), mainly driven by positive volume and mix in EMEA offsetting challenging trading conditions in LATAM. This enhance was more than offset by the forecasted decline in Agricultural Equipment, due to unfavorable industry volume and mix in all regions primarily in the row crop sector of the business, in Construction Equipment, due to negative volume and mix primarily in LATAM, and in Powertrain, due to lower sales to captive customers.
CNH Industrial N.V. designs, produces, markets, sells, and finances agricultural and construction equipment, trucks, commercial vehicles, buses, and specialty vehicles, engines, transmissions, and axles worldwide.
Shares of Sprint Corporation (NYSE:S), declined -1.34% to $5.15, during its last trading session.
Sprint’s CEO Marcelo Claure has joined the Board of Directors of My Brother’s Keeper (MBK Alliance), a new independent nonprofit organization aimed at eliminating opportunity and achievement gaps for African American and Hispanic boys and young men of color. President Barack Obama delivered remarks at the MBK Alliance launch event, which was attended by CEOs from Fortune 50 companies, entertainers, athletes, leading nonprofits, and current and former government officials. Sprint (NYSE:S) also pledged $2 million and about $3 million of in-kind donations to expand the availability of critical broadband resources for students who need access to a wireless network inside and outside the classroom.
“We are honored to welcome Mr. Claure to the MBK Alliance Board of Directors. His leadership, entrepreneurial spirit and commitment to serving and inspiring young adults will be instrumental in our success”
Sprint Corporation provides wireless and wireline communications services to consumers, businesses, and government users in the United States, Puerto Rico, and the U.S. Virgin Islands. It operates in two segments, Wireless and Wireline.
At the end of Monday’s trade, Shares of Avago Technologies Limited (NASDAQ:AVGO), dipped -1.34% to $121.16.
Emulex Corporation (ELX), declared its financial results for the third quarter of fiscal 2015 ending March 29, 2015.
On February 25th, 2015, Emulex reached a definitive agreement with Avago Technologies Limited (AVGO) under which Avago agreed to acquire Emulex for $8.00 per share in an all-cash transaction valued at about $606 million as of the offer date. In anticipation of this transaction, which is predictable to close during Avago’s second half of the fiscal year ending November 1, 2015, Emulex will not issue financial guidance for the forthcoming quarter or conduct a third quarter results conference call. Emulex has also suspended its share repurchases under the formerly declared authorization.
Third Quarter Financial Highlights
- Third quarter 2015 revenue of $96 million with non-GAAP EPS of $0.16 as contrast to initial guidance of $0.11-$0.15. A GAAP net loss of ($0.82) contrast to preceding guidance of a loss of ($0.06) to ($0.10), the latter of which excluded a $0.79 charge incurred in the third quarter for impairment of goodwill and intangible assets related to the Company’s Network Visibility Products (NVP) operations.
- Fibre Channel (FC) revenue performance exceeded preceding expectations of mid-single-digit annual declines, led by the Gen 5 (16Gb) FC family of products, which were up more than 100% over the preceding year.
- Skyhawk™-based 10Gb Ethernet products designed for current x86 server offerings grew revenue greater than 30% contrast to the preceding quarter and over six-fold over the preceding year.
- Non-GAAP gross margin of 67.5% expanded about 180 basis points year-over-year and 120 basis points as contrast to the preceding quarter.
- Cash, cash equivalents and investments at the end of the quarter of $203 million.
Avago Technologies Limited designs, develops, and supplies semiconductor devices with a focus on analog III-V based products. The company operates through four segments: Wireless Communications, Wired Infrastructure, Enterprise Storage, and Industrial & Other segments.
Finally, Weyerhaeuser Co. (NYSE:WY), ended its last trade with -1.31% loss, and closed at $31.59.
Weyerhaeuser, stated first quarter net earnings to common shareholders of $90 million, or 17 cents per diluted share, on net sales of $1.7 billion. This compares with net earnings of $183 million, or 31 cents per diluted share, on net sales from ongoing operations of $1.7 billion for the same period last year.
Not taking into account after-tax charges of $9 million for special items, the company stated net earnings of $99 million, or 19 cents per diluted share for the first quarter. This compares with net earnings from ongoing operations before special items of $143 million for the same period last year and $145 million for fourth quarter 2014.
Weyerhaeuser Co. is a real estate investment trust. It primarily invests in United States. The firm operates under four business segments, timberlands, wood products, cellulose fibers and real estate. It owns timberlands primarily in the U.S and has long-term licenses in Canada. The firm manufactures wood and specialty cellulose fibers products, and develops real estate, primarily as a builder of single-family homes. Weyerhaeuser Co was founded in 1900 and is based in Federal Way, Washington.
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