On Thursday, American Electric Power Company Inc (NYSE:AEP)’s shares declined -1.10% to $54.60.
Affiliates of American Electric Power (AEP), Berkshire Hathaway Energy, Duke Energy (DUK), Edison International (EIX), Eversource Energy (ES), Exelon (EXC), Great Plains Energy (GXP), and Southern Company (SO) have signed a memorandum of understanding to pursue development of Grid Assurance™, a limited liability company that expects to offer subscribers cost-effective solutions for enhancing grid resiliency and protecting customers from prolonged transmission outages.
As proposed, Grid Assurance will own and provide subscribers with timely access to an inventory of emergency spare transmission equipment that can otherwise take months to acquire. Grid Assurance filed a petition with the Federal Energy Regulatory Commission (FERC) late yesterday seeking confirmation that this service can be part of a transmission-owning entity’s strategy to effectively address grid resiliency mandates. Grid Assurance will not be FERC regulated, but plans to charge cost-based subscription fees, similar to FERC-regulated transmission formula rates. Cost-based subscription fees are expected to facilitate subscribers’ ability to recover expenses.
Restoration of the transmission grid can be hampered by long lead times required to design, build and deliver critical replacement equipment including large transformers, circuit breakers and other specialized electrical equipment. As proposed, Grid Assurance will be more cost-effective than companies independently securing emergency spare equipment for high-impact, low-frequency events due to economies of scale, diversification and improved logistics.
American Electric Power Company, Inc., a public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers. The company generates electricity using coal and lignite, natural gas, nuclear, and hydroelectric and other energy sources.
F5 Networks, Inc. (NASDAQ:FFIV)’s shares gained 7.75% to $127.68.
For the third quarter of fiscal 2015, F5 Networks, Inc. (FFIV) declared revenue of $483.6 million, up 2 percent from $472.1 million in the preceding quarter and 10 percent from $440.3 million in the third quarter of fiscal 2014.
GAAP net income was $93.2 million ($1.29 per diluted share), contrast to $85.7 million ($1.18 per diluted share) in the preceding quarter and $79.5 million ($1.05 per diluted share) in the third quarter a year ago.
Not taking into account the impact of stock-based compensation and amortization of purchased intangible assets, non-GAAP net income was $120.2 million ($1.67 per diluted share), contrast to $115.3 million ($1.59 per diluted share) in the preceding quarter and $104.6 million ($1.39 per diluted share) in the third quarter of last year.
A reconciliation of GAAP net income to non-GAAP net income is comprised of on the attached Merged Statements of Operations.
F5 Networks, Inc. develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems. It offers Local Traffic Manager, which provides intelligent load-balancing and traffic administration; Global Traffic Manager that automatically directs users to the closest or best-performing data center; Link Controller, which monitors the health and availability of each connection in organizations with more than one Internet service provider; Advanced Firewall Manager to guard data centers against incoming threats that enter the network on the deployed protocols; and Application Security Manager, an application firewall that provides comprehensive, proactive, and application-layer protection against generalized and targeted attacks.
At the end of Thursday’s trade, Boeing Co (NYSE:BA)‘s shares dipped -0.25% to $146.11.
Boeing [BA] declared that Oman Air has contracted for a suite of services to support the forthcoming entry into service of the airline’s 787 Dreamliners and to ensure ongoing efficiency and cost savings for its fleet.
Boeing will support Oman Air’s 787s with its Component Services (formerly Rotables Exchange) program, Loadable Software Airplane Parts service and Airplane Health Administration. Together, these services will assist Oman Air minimize the time and cost of maintenance while increasing airplane availability.
With the Component Services program, Oman Air will have access to a Boeing-managed, dedicated pool of high-value, mission-critical parts, enabling the airline to greatly reduce their inventory administration costs while improving component availability.
The Boeing Company, together with its auxiliaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in five segments: Commercial Airplanes, Boeing Military Aircraft, Network & Space Systems, Global Services & Support, and Boeing Capital. The Commercial Airplanes segment develops, produces, and markets commercial jet aircraft for various passenger and cargo requirements, in addition to provides related support services to the commercial airline industry.
Continental Resources, Inc. (NYSE:CLR), ended its Thursday’s trading session with 1.54% gain, and closed at $35.67.
Continental Resources, Inc. (CLR) plans to declare second quarter 2015 earnings on Wednesday, August 5, 2015 following the close of trading on the New York Stock Exchange. The Company plans to host a conference call to talk about second quarter 2015 results on Thursday, August 6, 2015 at 12:00 p.m. ET (11:00 a.m. CT). Those wishing to listen to the conference call may do so via the Company’s website at www.CLR.com or by phone:
Continental Resources, Inc. explores, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil production to end users, in addition to midstream marketing companies or crude oil refining companies at the lease. As of December 31, 2014, its estimated proved reserves were 1,351 million barrels of crude oil equivalent (MMBoe), with estimated proved developed reserves of 502 MMBoe. Continental Resources, Inc. was founded in 1967 and is headquartered in Oklahoma City, Oklahoma.
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