On Wednesday, TJX Companies Inc (NYSE:TJX)’s shares inclined 0.14% to $70.07.
The TJX Companies, Inc. (TJX), the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, recently declared that it has signed a definitive agreement to purchase Trade Secret, an off-price retailer that operates 35 stores in Australia, from Gazal Corporation Limited (GZL.AX) for a purchase price of AUD$80 million. The potential acquisition of Trade Secret provides TJX an opportunistic entry into Australia, where TJX presently operates one of its 13 buying offices. TJX anticipates the transaction, which has customary conditions to closing, to be consummated by the end of calendar 2015.
Trade Secret offers branded apparel for women, men and children, as well as footwear, accessories and home fashions at great values. Virtually all of the Trade Secret stores are located in the eastern part of Australia. Trade Secret opened its first store in 1992 and since then, has grown to AUD$164.5 million in revenue for its fiscal year ended June 2015.
The TJX Companies, Inc. operates as an off-price apparel and home fashions retailer in the United States and internationally. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX Europe. The company sells family apparel, counting footwear and accessories; home fashions, such as home basics, accent furniture, lamps, rugs, wall décor, decorative accessories, and giftware; and other merchandise.
C&J Energy Services, Ltd. (NYSE:CJES)’s shares dropped -5.01% to $7.40.
C&J Energy Services Ltd. (CJES) stated net loss of ($65.1 million), or ($0.56) per diluted share, on revenue of $511.2 million for the second quarter of 2015, and Adjusted Net Loss(1) of ($53.8 million), or ($0.46) per diluted share(1). Adjusted Net Loss excludes a $5.4 million, or $0.05 per diluted share, after-tax charge related to costs associated with the March 2015 combination (the “Transaction”) of C&J Energy Services, Inc. (“Legacy C&J”) with the completion and production services business (the “C&P Business”) of Nabors Industries Ltd.; in addition to severance costs of $1.2 million, or $0.01 per diluted share; customer settlement/bad debt write-off charges of $2.9 million, or $0.02 per diluted share; and an inventory write-down of $1.8 million, or $0.02 per diluted share. Adjusted EBITDA(1) was $20.3 million for the second quarter of 2015.
C&J Energy Services, Ltd. provides completion and production services for oil and gas industry primarily in North America. The company provides a range of well services involved in the completion, life-of-well maintenance, and plugging and abandonment of a well to oil and natural gas drilling and production companies.
At the end of Wednesday’s trade, Platform Specialty Products Corp (NYSE:PAH)‘s shares surged 0.73% to $23.44.
OM Group, Inc. (OMG) declared that at a special meeting held recently, stockholders voted to approve the proposal to adopt the merger agreement reached with funds managed by associates of Apollo Global Administration, LLC (APO) (“Apollo”) and an associate of Platform Specialty Products (PAH) (“Platform”).
On June 1, 2015, OM Group, Apollo and Platform declared that they had reached the definitive merger agreement under which Apollo will acquire OM Group for $34.00 per share in cash, representing an about 28% premium above OM Group’s closing share price on May 29, 2015, the last trading day preceding to the declarement of the merger. Platform will acquire OM Group’s Electronic Chemicals and Photomasks businesses from Apollo. Following the transactions, Apollo will own OM Group’s Magnetic Technologies, Battery Technologies and Advanced Organics businesses.
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, Asia, and Europe. The company’s Performance Materials segment manufactures and markets plating products that are used to plate holes; final finishes, which are used on printed circuit boards; circuit formation products to promote adhesion and form circuit patterns; oxides that are used in the fabrication of multilayer circuit boards; and pre-treatment and cleaning solutions.
Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), ended its Wednesday’s trading session with -0.59% loss, and closed at $6.76.
Himax Technologies, Inc. (HIMX) declares financial results for the second quarter ended June 30, 2015.
Himax’s second quarter revenue of $169.2 million represented a 13.9% decrease from the second quarter of 2014 and a 5.5% sequential decrease from the first quarter of 2015. Revenue from large panel display drivers was $54.3 million, an enhance of 6.9% from the second quarter of 2014, and down 5.7% sequentially. Large panel driver IC accounted for 32.1% of total revenues for the second quarter, contrast to 25.9% a year ago and 32.2% in the last quarter. The year-over-year enhance in total revenue was a result of market share gain from its Chinese panel customers and accelerated 4K TV shipments during the quarter, yet the sequential decrease was caused by continued weakness in the monitor market.
Revenue for small and medium-sized drivers was $82.8 million, down 22.6% from the same period last year and down 4.9% sequentially. Driver ICs for small and medium-sized applications accounted for 48.9% of total sales for the second quarter, as contrast to 54.5% a year ago, and 48.6% in the previous quarter. While the overall demands in mobile devices are still trending down, the decline of Himax’s small and medium driver IC business was much smaller during the quarter contrast to the last quarter. This was mainly because sales from its Chinese branded smartphone end customers, who were trailing behind the competition in the first quarter, rebounded strongly in the second quarter. The growth from Chinese branded smartphone customers was however largely offset by business from key Korean end customer who was going through product transition during the quarter. The Company’s Chinese end customers are using a multi-branding strategy in new sales channels such as e-commerce and direct sales points to gain market share back in China and exploring the long-awaited export opportunities. Meanwhile, Himax’s key Korean customer has decided to plannedally enhance the weight of AMOLED panels in their smartphone product portfolio. The transition in product development left a gap in Himax’s second quarter smartphone driver IC business as Himax has been its major TFT LCD driver IC outsourcing partner since 2012. The Company has foreseen this issue and worked on the development of AMOLED driver products. Himax believes that shipments of AMOLED panel drivers to both Korean and Chinese customers starting the second half of 2015 will assist lift its smartphone driver sales going forward. For driver ICs used in tablets, sales stabilized after 3 successive quarters of decline. As for driver ICs used in automotives, revenues remained robust during the quarter.
Himax Technologies, Inc., a fabless semiconductor company, provides display imaging processing technologies to consumer electronics worldwide. The company operates through Driver IC and Non-Driver Products segments. It offers display driver integrated circuits (ICs) and timing controllers used in televisions (TVs), laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and other consumer electronics devices.
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