On Monday, Shares of BlackBerry Ltd (NASDAQ:BBRY), lost -2.93% to $6.30.
BlackBerry stated financial results for the three months ended August 29, 2015.
Q2 Highlights
- Non-GAAP software and services revenue of $74 million, a 19% improvement over Q2 FY15 driven by 33% growth in software licensing revenue
- Positive free cash flow of $100 million in the quarter
- Cash and investments balance of $3.35 billion at the end of the fiscal quarter, an improvement of $37 million over Q1 FY16 after using $47 million on share repurchases
- Non-GAAP loss of ($0.13) per share, basic GAAP earnings of $0.10 per share
- Non-GAAP operating loss of ($84) million, with GAAP operating income of $33 million
- Non-GAAP gross margin of 40.9% and GAAP gross margin of 37.8%
- Adjusted EBITDA of $68 million
- After the close of the quarter, BlackBerry closed the acquisition of AtHoc and declared a contract to acquire Good Technology
- Recently, the company also confirmed plans to launch a flagship handheld device that will run on the Android operating system with BlackBerry security
BlackBerry Limited (BlackBerry) is a provider of mobile communications and services. The Company is engaged primarily in the provision of the BlackBerry wireless solution, consisting of smartphones, service and software.
Shares of Vale SA (ADR) (NYSE:VALE), declined -10.18% to $4.06, during its last trading session.
Vale SA became the latest commodities giant to take a scalpel to its dividend as a rout in metal prices deepens, according to Bloomberg.
The world’s largest iron-ore and nickel producer said Monday it aims to pay $500 million for the second tranche of its 2015 dividend, half the $1 billion the company projected in January. If the new target is approved by Vale’s board in an Oct. 15 meeting, the company will be handing out $1.5 billion in dividends for this year after having made a $1 billion payment in April.
The reduction in the second dividend installment reflects “the more uncertain scenario for mineral commodities prices and the focus on managing the balance sheet,” Vale said in a statement. Bloomberg Reports
The Bloomberg World Mining Index of 81 producers has tumbled 70 percent from a 2011 peak as prices of iron ore to industrial metals collapsed amid weaker demand in China, the largest consumer. Glencore Plc, the Swiss producer and trader of raw materials, earlier this month suspended dividend payments as it seeks to reduce its $30 billion in debt.
Vale’s $1.5 billion dividend payment this year is the Rio de Janeiro-based company’s lowest since 2006 and compares with $4.2 billion disbursed last year. The second payment will be made on Oct. 30 after approval from the board, Vale said in its statement. Bloomberg added.
Vale S.A. (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company also produces manganese ore, ferroalloys, metallurgical and thermal coal, copper, platinum group metals (PGMs), gold, silver, cobalt, potash, phosphates and other fertilizer nutrients. The Company operates through four business segments: Bulk Material, Base metals, Fertilizers and Other.
Shares of Exelon Corporation (NYSE:EXC), declined -0.88% to $29.24, during its last trading session.
Pepco Holdings Inc. (POM) and Exelon Corporation (EXC) recently have filed a petition for reconsideration of their merger with the Public Service Commission of the District of Columbia. The companies are working with the District of Columbia government to reach a settlement agreement.
The District of Columbia government recently issued a statement confirming that it is engaged in substantive negotiations with the companies on a settlement agreement. It added that any settlement agreement would be presented in a new application to the PSC for review, public comment and final determination.
Exelon Corporation (Exelon) is a utility services holding company. The Company operates through nine segments consisting of Exelon Generation Company, LLC’s (Generation) six marketing segments, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO) and Baltimore Gas and Electric Company (BGE).
Finally, Whole Foods Market, Inc. (NASDAQ:WFM), ended its last trade with -1.13% loss, and closed at $30.75.
Whole Foods Market is cutting 1,500 jobs over the next two months, or about 1.6% of its workforce, as it focuses on its strategy to lower prices for customers, the grocery chain said Monday, according to USA Today.
The cuts come after Whole Foods added more than 9,000 jobs in the past year. The company said it anticipates “a noteworthy percentage” of employees being let go to find other jobs among Whole Foods’ open positions, counting those available due to more than 100 new stores that are set to open. Whole Foods has about 91,000 employees and 431 stores across the U.S., U.K., and Canada.
“We believe this is an important step to evolve Whole Foods Market in a rapidly changing marketplace,” co-CEO Walter Robb said in a statement. The company also said that the job cuts will let it focus more on upgrading technology.
Whole Foods Market, Inc. (Whole Foods Market) is a retailer of natural and organic foods and grocer. The Company has one operating segment, natural and organic foods supermarkets. As of September 29, 2013, Whole Foods Market operated 362 stores in the United States, Canada, and the United Kingdom.
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