On Wednesday, Analog Devices, Inc. (NASDAQ:ADI)’s shares inclined 0.61% to $59.74.
Analog Devices, Inc. ( ADI) declared it will release financial results for the third quarter fiscal year 2015, after the market closes on Tuesday, August 18, 2015. Following the issuance of a press release containing financial results for the quarter, the company will hold a conference call at 5:00 p.m. Eastern time, the same day.
Analog Devices, Inc. engages in the design, manufacture, and marketing of analog, mixed-signal, and digital signal processing integrated circuits (ICs) for use in industrial, automotive, consumer, and communication markets worldwide. It offers signal processing products that convert, condition, and process real-world phenomena, such as temperature, pressure, sound, light, speed, and motion into electrical signals.
Unum Group (NYSE:UNM)’s shares dropped -0.17% to $35.65.
Unum Group (UNM) stated net income of $224.3 million ($0.90 per diluted common share) for the second quarter of 2015, contrast to net income of $239.4 million ($0.93 per diluted common share) for the second quarter of 2014.
After-tax operating income, which excludes after-tax realized investment gains and losses on the Company’s investment portfolio, counting a second quarter of 2014 hedge gain associated with the retirement of debt, the amortization of preceding period actuarial losses on the Company’s pension plans, and costs related to the second quarter of 2014 early retirement of debt, was $222.6 million ($0.89 per diluted common share) in the second quarter of 2015, contrast to $231.7 million ($0.90 per diluted common share) in the second quarter of 2014. The combined impact of the amounts excluded resulted in a net after-tax gain of $1.7 million ($0.01 per diluted common share) for the second quarter of 2015, contrast to a net after-tax gain of $7.7 million ($0.03 per diluted common share) in the second quarter of 2014.
Unum Group, together with its auxiliaries, provides group and individual disability insurance products in the United States and the United Kingdom. The company operates through three segments: Unum US, Unum UK, and Colonial Life. It provides group long-term and short-term disability, group life, accidental death and dismemberment, individual disability, supplemental and voluntary products, and group and individual long-term care insurance products, in addition to accident, sickness and disability products, life products, and cancer and critical illness products.
At the end of Wednesday’s trade, TTM Technologies, Inc. (NASDAQ:TTMI)‘s shares dipped -4.51% to $7.63.
Stifel analyst Matthew Sheerin downgraded the rating on TTM Technologies, Inc. (TTMI) from Buy to Hold. The analyst believes that the successful integration of Viasystems Group, Inc. (NASDAQ: VIAS) is already priced into the stock.
The rating on the company had been upgraded in April 2014 after TTM Technologies successfully ramped new product lines for Apple Inc. (NASDAQ: AAPL) in 2H14, which led to margin expansion and revenue growth for the former company. TTM Technologies also successfully trimmed its portfolio and implemented cost cutting initiatives, while also concluding the Viasystems acquisition.
The company has been able to achieve cost savings worth about $55 million, most of which was driven by overhead reduction, while the rest was contributed by operating plant efficiencies. The analyst anticipates further cost saving to be gradual, with most of the benefits coming in during 1HF16. However, the analyst also anticipates incremental expenses due to the recent loan.
TTM Technologies, Inc., together with its auxiliaries, provides various printed circuit board (PCB) products and backplane assemblies worldwide. The company offers high density interconnect, conventional, flexible, and rigid-flex PCBs, in addition to backplane assemblies and IC substrates. It also offers various services, such as design for manufacturability support during new product introduction stages; PCB layout design; simulation and testing services; quick turnaround production; and drilling and routing services.
FedEx Corporation (NYSE:FDX), ended its Wednesday’s trading session with -1.85% loss, and closed at $165.31.
FedEx Express, a wholly owned partner of FedEx Corp. (FDX), agreed to purchase 50 additional 767-300F aircraft from The Boeing Company as it continues to modernize its aircraft fleet to more effectively serve its customers. In addition to the 50 confirmed orders, FedEx also has options to purchase a total of 50 767F aircraft.
The 50 firm-order aircraft will be delivered from fiscal 2018 through fiscal 2023. Total capital spending for fiscal 2016 remains at $4.6 billion. The impact to capital spending in fiscal 2017 from this new order is immaterial. With this order, FedEx Express now holds a total of 106 firm orders for 767Fs from The Boeing Company through fiscal 2023.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; international trade advisory services, such as assistance with the customs-trade partnership against terrorism program; and customs clearance services, in addition to global trade data, an information tool that allows customers to track and manage imports.
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