On Friday, Shares of Quanta Services Inc (NYSE:PWR), lost -28.49% to $18.74. 24.41 million shares of the company were exchanged.
Quanta Services, Inc. (PWR) declared that after an initial review of its third quarter operating results, the company now anticipates revenues slightly below the midpoint of its formerly declared range of $1.9 billion to $2.0 billion and anticipates diluted earnings per share from ongoing operations of $0.22 to $0.24. This compares to the company’s previous expectation that diluted earnings per share from ongoing operations would range between $0.34 and $0.40. In addition, Quanta anticipates several of the factors which adversely influenced the company’s third quarter results to continue and adversely impact the company’s fourth quarter results as compared to preceding expectations. Quanta’s actual third quarter 2015 results and an update to its full year financial guidance will be offered on November 5, 2015, and the company will hold its third quarter 2015 earnings conference call on the same day.
Although a contributing factor to the company’s revised estimates are Electric Power Infrastructure Services segment revenues for the third quarter at the lower end of Quanta’s formerly predictable range, the revised estimates are largely due to operating margins below the company’s previous expectations. As formerly talk about, larger electric transmission projects across the industry have practiced noteworthy delays.
This has led to an increasingly competitive smaller transmission market, as competitors more aggressively pursue work volume to absorb fixed costs. A greater mix of smaller transmission work also negatively impacts margins due to the inefficiency of transitions between smaller projects as compared to the continuous production on larger work. Quanta believe that the delay in larger transmission projects is temporary, as a number of large projects are awaiting permitting and other approvals. As such, Quanta has maintained a portion of its workforce and equipment in an underutilized capacity to ensure the company is planned ally positioned to deliver on larger, more complicated electric transmission projects as they move forward.
Quanta Services, Inc. provides specialty contracting services to the electric power, and oil and gas industries in North America and internationally. The company’s Electric Power Infrastructure Services segment provides network solutions comprising design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities.
Shares of EMC Corporation (NYSE:EMC), declined -0.07% to $27.77, during its last trading session.
The share price of this stock traded recently in a range of $27.72 to $27.99. The company now has a market value of $53.49 billion.
For this company, beta value at 1.60 represents it is more volatile to the shift in the market. If we take a look on its volatility, 2.059% was seen in a week and for the month it was 2.39%.
EMC Corporation develops, delivers, and supports information infrastructure and virtual infrastructure technologies, solutions, and services. It offers enterprise storage systems and software deployed in storage area networks (SAN), networked attached storage (NAS), unified storage combining NAS and SAN, object storage, and/or direct attached storage environments, in addition to provides a portfolio of backup products that support a range of enterprise application workloads.
Finally, Shares of Intel Corporation (NASDAQ:INTC), ended its last trade with 0.89% gain, and closed at $33.04.
Intel Corporation, in conjunction with the founders of Arduino*, declared the forthcoming release of Arduino 101 (U.S.) and Genuino 101 (outside the U.S.), an affordable learning and development board ideal for entry-level makers and education environments. Arduino 101 is the first widely accessible development board based on the tiny, low-power Intel® CurieTM module.
In addition to being easy to use and well-suited for foundational learning exercises, Arduino 101 can be used to prototype technology-based products that connect and compute, thanks to the powerful features of the Intel Curie module. It is priced comparably to entry-level microcontroller boards accessible recently and features an accelerometer, gyroscope and Bluetooth Smart* connectivity to enable the development of smart, connected devices.
The board joins the ranks of Arduino’s open-source electronics platform, which combines freely accessible hardware designs, an extensive ecosystem of third-party extension components, and a software programming environment that makes it easy for anyone to create interactive projects.
Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. It operates through PC Client Group, Data Center Group, Internet of Things Group, Mobile and Communications Group, Software and Services, and All Other segments.
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