On Friday, Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN), lost -2.70% to $10.82.
Huntington Bancshares Incorporated, declared that its prime rate is increasing from 3.25 percent to 3.50 percent, effective Dec. 17, 2015.
The rate was last changed on Dec. 18, 2008, when Huntington reduced its prime rate from 4.00 percent to 3.25 percent.
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company’s Retail and Business Banking segment offers financial products and services, counting checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, insurance, interest rate risk protection, foreign exchange hedging, and treasury administration services.
Shares of Mobileye NV (NYSE:MBLY), inclined 1.15% to $40.62, during its last trading session.
Mobileye N.V., declared financial results for the quarter ended September 30, 2015.
“Our third quarter results highlight the growing interest from OEMs, consumers and regulatory agencies to comprise advanced safety features in vehicles,” stated Ziv Aviram, co-founder, president and chief executive officer of Mobileye. “We launched new programs with autonomous emergency braking, a feature being standardized around the world, and recently released semantic free-space and holistic path prediction, the most innovative vision technologies for road scene interpretation. Our commitment to innovation, ability to add successful program launches and provide best-in-class technologies for autonomous driving further strengthens our leadership in the ADAS and autonomous driving market.”
Third Quarter 2015 Financial Highlights
- Revenue: Total revenue for the third quarter of 2015 was $70.6 million, an improvement of 104% contrast to $34.7 million in the prior-year period. Within total revenue, original equipment manufacturing (OEM) revenue was $60.8 million, contrast to $28.8 million in the prior-year period. After market (AM) revenue contributed the remaining $9.8 million of total revenue for the third quarter of 2015 contrast to $5.9 million in the prior-year period.
- Net Income (loss) and Earnings (loss) per Share: GAAP net income for the third quarter of 2015 was $24.2 million, or $0.10 per diluted share. This compares to GAAP net loss of $(13.1) million or $(0.09) on a per share basis for the third quarter of 2014. GAAP results comprised share-based compensation expense of $10.7 million for the third quarter of 2015 and $22.8 million for the third quarter of 2014.
Non-GAAP net income for the third quarter of 2015 was $34.9 million, or $0.15 per share, based on 238.5 million weighted average diluted shares outstanding. This compares to non-GAAP net income of $9.7 million, or $0.04 per share, based on 232.9 million weighted average diluted shares outstanding during the third quarter of 2014. Non-GAAP net income excludes share-based compensation expense.
- Cash, restricted bank deposits, marketable securities and cash flow: At September 30, 2015, Mobileye had cash and cash equivalents, restricted bank deposits, and marketable securities of $448.3 million, contrast to $422.2 million at June 30, 2015.
The company generated $26.2 million in net cash from operating activities for the third quarter of 2015 contrast to $10.9 million for the third quarter of 2014. The company generated $25.6 million in free cash flow for the 2015 third quarter contrast to $10.4 million for the comparable 2014 quarter. Free cash flow represents net cash offered by operating activities minus capital expenditures.
Mobileye N.V., together with its auxiliaries, designs and develops software and related technologies for camera-based advanced driver assistance systems primarily in Israel. It operates through two segments, Original Equipment Manufacturing and After Market.
Finally, Voltari Corp (NASDAQ:VLTC), ended its last trade with -7.30% loss, and closed at $5.21.
Volatility can be your friend or your enemy. Yesterday, April 30th, on the final trading day of the month, following disappointing data, U.S. stocks extended their losses from recent market highs achieved earlier in April with the Dow Jones Industrial Average declining 195 points, or 1.1% to 17,840. The S&P 500 index dropped 21 points, or 1%, to 2085. SPY, the largest ETF tracking the S&P 500 Index, has recently failed to close above all-time highs this month, marking a potential inflection point in long-term market sentiment.
Despite a continued improvement in negative economic data, particularly quarterly and yearly declines in GAAP earnings of the largest publicly traded companies listed on the S&P 500, short-term investors can reduce their risk exposure by limiting their allocations to equity with a shift into cash as overvalued and overbought market valuations continue to experience price discovery following the conclusion of quantitative easing in quarter three of 2014. Despite the recent appreciation of the USD and our preference for short-term cash holdings, we believe that the USD is overvalued in the long-term and will not ascend indefinitely, as concerns regarding the growth of the US economy will be prominently displayed in the following months, with the already deteriorating data surfacing.
Voltari Corporation, together with its auxiliaries, provides relevance-driven merchandising, digital marketing, and advertising solutions, primarily over smart phones and other mobile devices to brands, marketers, and advertising agencies. It also offers predictive analytics services. The company was founded in 2001 and is headquartered in New York, New York.