On Thursday, in the course of current trade, Shares of Mondelez International Inc (NASDAQ:MDLZ), climbed 4.99%, and is now trading at $45.12.
Mondelēz International, stated its second quarter 2015 results, reflecting strong Adjusted Operating Income margin expansion and Adjusted EPS growth on a constant currency basis, in addition to solid Organic Net Revenue growth. In addition, the company raised its share repurchase authorization by $6.0 billion and extended the expiration by two years to December 31, 2018.
“Our strong second quarter results reflect continued execution of our transformation agenda,” said Irene Rosenfeld, Chairman and CEO. “With the creation of the coffee joint venture now complete, our portfolio is focused even more on snacks. In addition, we’re ongoing to make excellent progress driving supply chain productivity and overhead cost reductions to deliver top-tier margin expansion and earnings growth. This provides additional fuel to step up investments in marketing, sales and capacity expansion to accelerate revenue growth and improve market share, both now and over the long term.
Mondelez International, Inc., through its auxiliaries, manufactures and markets snack food and beverage products worldwide. The company offers biscuits, counting cookies, crackers, and salted snacks; chocolates, and gums and candies; powdered beverages and coffee; and cheese and grocery products.
During an Afternoon trade, Shares of Magnum Hunter Resources Corp (NYSE:MHR), dipped -9.01%, and is now trading at $1.01.
Magnum Hunter Resources Corporation, declared that it has received and accepted a firm commitment (the “Commitment”) from Bank of Montreal, which is the administrative agent and lead lender under the Company’s senior secured revolving credit facility (the “Facility”), to (i) consent to certain amendments and waivers with respect to the Facility (the “Amendments”) and (ii) assume the interests under the Facility of each other current member of the Facility’s lending syndicate that may not choose to consent to the Amendments contemplated by the new Commitment.
The Amendments will, among other things, permanently eliminate the Company’s obligation under the Facility to raise $65 million in net cash proceeds from certain specified transactions by July 10, 2015. As of the date of the Commitment, the Company had raised an aggregate of about $55.6 million in net cash proceeds from certain of these specified transactions in connection with this obligation, to which the Company will no longer be subject following the effective date of the Amendments. In addition, the Amendments will comprise waivers of compliance by the Company with the current ratio and total secured net debt to EBITDAX ratio covenants presently existing under the Facility until the earlier of (i) the fiscal quarter ending December 31, 2015 or (ii) the fiscal quarter during which the Company closes on the sale of all or substantially all of the Company’s equity ownership interest in Eureka Hunter Holdings, LLC (“Eureka Hunter”). The Company formerly declared its intention to pursue the sale of 100% of its equity ownership interest in Eureka Hunter following a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on June 25, 2015. Based upon current market conditions, the Company believes that a sale of all of its equity interest in Eureka Hunter could generate up to about $600 - $700 million in gross cash proceeds to Magnum Hunter.
Magnum Hunter Resources Corporation, an independent oil and gas company, explores for, exploits, acquires, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States.
Finally, Quintiles Transnational Holdings Inc (NYSE:Q), lost -0.43% on Thursday.
Quintiles Transnational Holdings, stated its financial results for the quarter ended June 30, 2015.
For the three months ended June 30, 2015, the Company’s growth in service revenues, not taking into account the impact of foreign currency fluctuations (“constant currency”), was 9.8% with 22.9% growth in the Integrated Healthcare Services segment and 5.5% growth in the Product Development segment. The Company’s service revenues were $1.07 billion which at actual rates represents growth of 3.8%, or $38.9 million, counting an unfavorable foreign currency impact of $62.2 million contrast to the same period last year.
Quintiles Transnational Holdings Inc., through its partner, Quintiles Transnational Corp., provides biopharmaceutical development services and commercial outsourcing services in the Americas, Europe, Africa, and the Asia-Pacific.
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