On Wednesday, Brocade Communications Systems, Inc. (NASDAQ:BRCD)’s shares inclined 0.69% to $12.42.
Brocade Communications Systems, Inc. (BRCD) unveiled the results of a federal IT survey revealing that less than 15 percent of respondents feel their agency’s current network infrastructure will be able to fully support the solutions necessary to deliver world-class digital services for government.
Commissioned by Brocade and conducted by Market Connections, the study polled 200 IT decision makers across 64 federal agencies. Other key findings comprise:
- Ninety percent of respondents believe open standards are important and although almost half (47 percent) are considering or planning to adopt them in the next few years, only 11 percent have made the transition. Security concerns were the commonly cited reason for not considering open standards.
- Seventy percent of respondents are considering, planning or have already moved to software-defined networking (SDN), citing performance and ease of administration as major advantages.
- Eighty-eight percent of respondents have deployed virtualized services on the network counting firewalls, load balancers and routers.
Brocade Communications Systems, Inc. provides storage area networking (SAN) and Internet protocol networking solutions for businesses and organizations worldwide. It operates through SAN Products, IP Networking Products, and Global Services segments. The SAN Products segment offers infrastructure products and solutions, such as fiber channel SAN backbones, directors, fabrics, and embedded switches that assist customers in the development and delivery of storage and server consolidation, disaster recovery and data security, and compliance issues regarding data administration; and fabric extension, switching, and routing solutions.
DavidsTea Inc (NASDAQ:DTEA)’s shares dropped -24.55% to $22.00.
DavidsTea Inc (DTEA) declared financial results for the thirteen weeks ended May 2, 2015.
For the thirteen weeks ended May 2, 2015:
- Sales raised by 29% to C$35.8 million from C$27.8 million in the first quarter of fiscal 2014. Comparable sales raised 6.3%.
- Gross profit raised 21% to C$19.1 million while gross profit as a percent of sales reduced to 53.3% from 56.6% in the first quarter of fiscal 2014. The decrease in gross profit as a percent of sales was driven primarily by the adverse impact from the stronger U.S. dollar on U.S. dollar denominated purchases, in addition to an investment in supply chain.
- Selling, general and administration expenses (“SG&A”) raised to C$21.0 million from C$13.3 million in the first quarter of fiscal 2014. Not taking into account IPO-related and other one-time costs, SG&A raised to C$17.0 million from C$13.3 million in the first quarter of fiscal 2014. As a percent of sales, SG&A not taking into account these one-time costs reduced to 47.4% from 47.8%.
- Results from operating activities were C$(2.0) million as contrast to C$2.4 million in the first quarter of fiscal 2014. Not taking into account the impact of the IPO and other one-time costs, results from operating activities reduced to C$2.1 million from C$2.4 million in the first quarter of fiscal 2014.
- The Company opened 7 new stores in the first quarter and ended the quarter with 161 stores in Canada and the U.S. This represents an enhance of 28% from the end of the first quarter of fiscal 2014.
- Adjusted EBITDA was C$4.0 million contrast to C$3.9 million in the first quarter of fiscal 2014. Adjusted EBITDA excludes IPO-related and other non-cash or one-time costs (see Reconciliation of Adjusted EBITDA table).
- Net income was C$(93.2) million contrast to C$1.4 million in the first quarter of fiscal 2014. Adjusted net income, which excludes IPO-related and other one-time costs in the first quarter of fiscal 2015 (see Reconciliation of IFRS basis to Adjusted net income table), was C$1.1 million contrast to C$1.4 million for the first quarter of fiscal 2014.
- Fully diluted income per common share was C$(7.73) contrast to C$0.07 in the first quarter of fiscal 2014. Adjusted fully diluted income per common share, which is adjusted net income on an adjusted fully diluted weighted average shares outstanding basis (see Reconciliation of fully diluted weighted average common shares outstanding table), was C$0.04 per share contrast to C$0.06 per share in the first quarter of fiscal 2014.
DAVIDsTEA Inc., a beverage company, provides a selection of loose-leaf teas, pre-packaged teas, tea sachets, and tea-related gifts and accessories in Canada and the United States. It offers about 150 varieties of loose-leaf teas and tea blends spanning 8 tea categories, such as white, green, oolong, black, pu’erh, mate, rooibos, and herbal tea.
At the end of Wednesday’s trade, Prudential Financial Inc (NYSE:PRU)‘s shares dipped -0.66% to $89.14.
Five major global macroeconomic themes could drive financial markets through 2020 as global expansion slowly continues, according to a new Global Insights paper from Prudential Fixed Income, a $560 billion asset administration business of Prudential Financial, Inc., (PRU) and among the world’s largest fixed income managers.
Prudential Financial, Inc. provides insurance, investment administration, and other financial products and services to individual and institutional customers in the United States and internationally. The company principally offers life insurance, annuities, retirement-related services, mutual funds, and investment administration products. Its U.S. Retirement Solutions and Investment Administration division offers individual variable and fixed annuity products; recordkeeping, plan administration, actuarial advisory, tailored participant education and communication, trustee, and institutional and retail investments services; and guaranteed investment contracts, funding agreements, institutional and retail notes, structured settlement annuities, and other group annuities.
Voya Financial Inc (NYSE:VOYA), ended its Wednesday’s trading session with 0.19% gain, and closed at $47.23.
Voya Financial, Inc. (VOYA) declared that its Employee Benefits business has launched a newly-designed Group Term Life1 product, offering employers raised ease and flexibility when providing life insurance options to their employees.
Industry research shows that simply having the opportunity to purchase coverage through the workplace prompts the majority of employees to pursue life insurance coverage. This is particularly true among Generation X and Y, who make up about three-quarters of workplace life insurance customers.2
Voya Employee Benefits’ Group Term Life offering complements the company’s existing portfolio of voluntary benefits solutions, which are designed with a focus on simplicity and ease of use for employers and employees. The improved features comprise a variety of coverage options for employees, and life insurance benefits that can be used to assist cover everyday expenses counting funeral costs, medical bills, mortgage payments and college tuition. Through an optional rider, an insured employee may be eligible to receive a portion of their benefit if they should become permanently confined to a healthcare facility. This benefit can be paid on a monthly basis, providing a stream of income for an employee or their family.
Voya Financial, Inc. operates as a retirement, investment, and insurance company in the United States. The company has five segments: Retirement, Annuities, Investment Administration, Individual Life, and Employee Benefits. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services in corporate, education, healthcare, and government markets; and rollover individual retirement accounts and other retail financial products, in addition to financial advisory services to individual customers. This segment sells its products to small companies, corporations, and government entities directly, in addition to through third-party administrators, wirehouse associated brokers, registered investment advisors, independent sales agents, and consulting firms.
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