On Tuesday, Shares of Quiksilver Inc. (NYSE:ZQK), lost -31.58% to $0.85, hitting its lowest level.
Quiksilver, suffered its worst stock decline in more than a year after posted disappointing second-quarter results and abandoning its annual forecast, stoking concern that the teen-apparel chain is in turmoil.
Ongoing operations lost 22 cents a share last quarter, the Huntington Beach, California-based company said in a statement Tuesday. Analysts had predicted a 14-cent deficit on average, according to data compiled by Bloomberg. Sales fell 16 percent to $333.1 million in the period, also missing estimates. Bloomberg Reports.
Quiksilver replaced its top executives in March after struggling to pull out of a slump, and the latest results signal that its woes aren’t close to over. The company is ditching its forecast because an predictable improvement in profit later this fiscal year is further away than anticipated, Chief Executive Officer Pierre Agnes said in Tuesday’s statement. Bloomberg added.
Quiksilver, Inc. designs, develops, and distributes branded apparel, footwear, accessories, and related products primarily for men, women, and children. The company provides its products for various activities, counting casual and outdoor lifestyle associated with surfing, skateboarding, snowboarding, BMX and motocross, rally car, and other activities.
Shares of Morgan Stanley (NYSE:MS), inclined 0.10% to $39.13, during its last trading session.
Morgan Stanley declared that it has closed on the issuance of a $500 million green bond, the Firm’s inaugural green bond and the latest step in the Firm’s ongoing strategy to advance market-based solutions to social and environmental challenges. Since 2006, the Firm has facilitated over $61 billion of capital for clean tech and renewable energy businesses.
Funds equal to the net proceeds of Morgan Stanley’s green bond will be allocated to various renewable energy and energy efficiency projects. A substantial amount of these funds will correspond with investments in existing and future third-party renewable energy projects, primarily wind farms, counting Route 66 Wind, a 150 MW wind farm under construction in Texas, and Rattlesnake Wind Energy Center, a 207 MW wind power project also under construction in Texas.
Ahead of this offering, Morgan Stanley created a green bond framework that is aligned with the Green Bond Principles. The framework describes the process through which projects are selected to receive funding, with the aim of ensuring that the Morgan Stanley green bond operates with high levels of transparency, disclosure and verification. Proceeds from the sale of the notes will be deposited into a segregated Morgan Stanley account for tracking disbursements. Morgan Stanley’s green bond has received a comprehensive review from an independent certification expert in renewables and energy efficiency, and an independent accountant will report with respect to stated disbursements.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide.
Finally, NRG Energy, Inc. (NYSE:NRG), ended its last trade with -0.71% loss, and closed at $23.86.
Blue sky and sunshine have returned after weeks of rain and intense flooding, but a long recovery effort looms for many in Texas. More than 35 trillion gallons of rain – enough to cover the entire state in eight inches of water – fell in May, according to the National Weather Service, affecting thousands of lives.
To come to the aid of people who have been affected, Reliant, an NRG company, is donating $100,000 to support the American Red Cross’ ongoing disaster relief and emotional counseling efforts. In addition, NRG’s mobile power support vehicle, Power2Serve, has deployed to Wimberley and is set up to provide power and connectivity to Team Rubicon, a non-profit disaster relief organization of veterans, first responders and civilians coordinating clean-up, debris removal and volunteer administration in Hays and Caldwell counties.
NRG’s Power2Serve vehicle provides hands-on support when disasters strike. Power2Serve is a 26-foot long truck, equipped with solar and diesel generators and a custom canopy, dispatched to locations in need of support. The NRG Power2Serve team:
- Creates a transportable, climate-controlled pavilion where emergency personnel can gather to charge electronics, access Wi-Fi, stay up-to-date on news and more.
- Brings 40 kW of diesel and solar electric generators to power operations, lighting in the pavilion and a heavy extension cord to emergency administration centers.
NRG Energy, Inc., together with its auxiliaries, operates as a power company. The company provides electricity; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; carbon administration and specialty services; and various energy services, such as operations, maintenance, technical, development, and asset administration services. It owns and operates about 52,000 MWs of generation.
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