On Friday, Shares of Natural Health Trends Corp. (NASDAQ:NHTC), inclined 3.30% to $39.41, during its last trading session.
Natural Health Trends Corp., declared it is set to join the Russell Global Index, the Russell 3000(R) Index and the Russell Microcap Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes after the close of market on Friday, June 26, 2015, according to a preliminary list of additions posted June 12, 2015 on Russell Indexes Reconstitution.
Membership in the Russell Global Index, which remains in place for one year, means automatic inclusion in the appropriate large-cap, small-cap, all-cap indexes in addition to the applicable style, sector and country indexes. Membership in the Russell Microcap(R) Index, which also remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell equity indexes primarily by objective, market-capitalization rankings and style attributes.
Natural Health Trends Corp., a direct-selling and e-commerce company, provides wellness, beauty, and lifestyle products for consumers or business builders under the NHT Global brand name.
At the end of Friday’s trade, Shares of Valley National Bancorp (NYSE:VLY), lost -0.30% to $10.08.
Valley National Bancorp, declared that it priced $100 million of its Subordinated Debentures due June 30, 2025 and 4,600,000 shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A .The Notes have a fixed interest rate of 4.55% per annum, payable semi-annually, a 10 year term and were issued at a discount of 0.042% to par. The Preferred Stock will be issued at a public offering price of $25.00 per share. Dividends on the Preferred Stock will accrue and be payable quarterly in arrears, at a fixed rate per annum equal to 6.25% from the original issue date to, but not taking into account, June 30, 2025, and thereafter at a floating rate per annum equal to three-month LIBOR plus a spread of 3.85%.
Valley intends to use the net proceeds from these offerings for general corporate purposes, potential planned acquisitions and investments in Valley National Bank as regulatory capital. The Company intends to apply to list the shares of Preferred Stock on the New York Stock Exchange. If approved for listing, trading of the Preferred Stock on the New York Stock Exchange is predictable to commence within 30 days after the shares are first issued. The offerings are predictable to close on June 19, 2015, subject to customary closing conditions.
Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, insurance, and wealth administration financial services products. The company operates through Commercial Lending, Consumer Lending, and Investment Administration segments.
Finally, Finisar Corporation (NASDAQ:FNSR), ended its last trade with -10.25% loss, and closed at $19.88.
Finisar Corporation (NASDAQ:FNSR), declared financial results for its fourth quarter and full year fiscal 2015, ended May 3, 2015.
Financial Statement Highlights for the Fourth Quarter of Fiscal 2015:
- Revenues raised to $320.0 million, up $13.8 million, or 4.5%, from $306.3 million in the preceding quarter.
- Sales of products for data com applications raised by $7.6 million, or 3.2%, contrast to the preceding quarter, primarily driven by the benefit from an extra week in the fourth quarter, partially offset by the impact of Chinese New Year.
- Sales of products for telecom applications raised by $6.2 million, or 8.6%, contrast to the preceding quarter, primarily due to the benefit of an extra week in the fourth quarter partially offset by the impact of three month of the annual telecom price reduction that typically takes effect on January 1 and the impact of Chinese New Year.
- GAAP gross margin raised to 27.9% from 25.5% in the preceding quarter, primarily due to a $5.7 million non-cash charge for the impairment of long-lived assets during the preceding quarter, not present in the fourth quarter.
- Non-GAAP gross margin improved to 30.3% contrast to 30.0% in the preceding quarter, primarily due to the improvement in yields for a new optical engine product for supercomputing applications that we started to ramp in the third quarter of fiscal 2015 that had negatively influenced gross margin during that third quarter, partially offset by the impact of the full three months of the annual telecom price reduction that typically takes effect on January.
- GAAP operating expenses raised $4.4 million to $78.9 million from $74.6 million in the preceding quarter.
- Non-GAAP operating expenses raised $3.1 million to $68.2 million from $65.1 million in the preceding quarter, primarily due to the extra week of salaries in Q4 relative to Q3, higher R&D project materials associated with the qualification of our new products, and higher S&M expenses due to the higher revenue level.
- GAAP operating income raised $6.9 million, to $10.3 million or 3.2% of revenues, contrast to $3.4 million or 1.1% of revenues in the preceding quarter.
- Non-GAAP operating income raised $1.9 million to $28.8 million, or 9.0% of revenues, contrast to $26.9 million, or 8.8% of revenues, in the preceding quarter.
- Cash, cash equivalents and short term investments raised $1.3 million to $490.2 million at the end of the fourth quarter, contrast to $488.9 million at the end of the preceding quarter.
Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, Malaysia, China, and internationally. Its optical subsystems primarily comprise of transmitters, receivers, transceivers, transponders, and active optical cables that provide optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in building communication networks, counting the switches, routers, and servers used in wireline networks, in addition to the antennas and base stations for wireless networks.
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