During Wednesday’s current trade, Zillow Group Inc (NASDAQ:Z)’s shares decreased -1.17%, to $91.89.
Zillow Group, Inc. (Z) which houses a portfolio of the largest and most vibrant real estate and home-related brands on mobile and Web, recently declared that northern Colorado-based Information and Real Estate Services, LLC, (IRES Multiple Listing Service) has signed a direct agreement allowing their 6,000 brokers the ability to send their listings to Zillow® and Trulia®. As a part of the new partnership, Zillow Group will also offer expanded metrics on IRES listings through ListTrac - making IRES the first MLS to offer its members expanded, customized reporting metrics about their listings on Zillow and Trulia through ListTrac.
Zillow Group also offers expanded reporting options through Zillow Tech Connect: Reports, the third and newest pillar of the popular Zillow Tech Connect program. Through Zillow Tech Connect: Reports, MLSs and brokerages who send their listings directly to Zillow will have access to expanded reporting on their listings by their vendor of choice. Companies interested in joining Zillow Tech Connect: Reports can email [email protected] for more information.
Zillow Group, Inc. operates real estate and home-related information marketplaces on mobile and the Web in the United States. It offers a portfolio of brands and products to assist people find vital information about homes, and connect with local professionals. The company product portfolio comprises Zillow, a real estate and rental marketplace dedicated to consumers with data, inspiration, and knowledge around the place they call home, and connecting them with the local professionals who can assist; and Trulia, a home shopping marketplace, focused on giving home buyers, sellers, and renters the information they need to make better decisions about where to live.
Unum Group (NYSE:UNM)’s shares jumped 1.60% to $36.13, during the current trading session Wednesday’s.
Unum Group (UNM) announced that its board of directors has authorized the repurchase of up to $750 million of the company’s outstanding common stock through Nov. 21, 2016. This new authorization replaces the previous authorization of $750 million that was scheduled to expire on June 12, 2015.
The timing and amount of any share repurchases under the new authorization, which may be made in the open market or in privately negotiated transactions, including accelerated share repurchase transactions, will be determined by management based on market conditions and other considerations. The program can be modified, extended, or terminated by the board at any time.
Unum Group, together with its auxiliaries, provides group and individual disability insurance products in the United States and the United Kingdom. The company operates through three segments: Unum US, Unum UK, and Colonial Life. It provides group long-term and short-term disability, group life, accidental death and dismemberment, individual disability, supplemental and voluntary products, and group and individual long-term care insurance products, in addition to accident, sickness and disability products, life products, and cancer and critical illness products.
In a mid-morning trade, xG Technology Inc (NASDAQ:XGTI)‘s shares dropped -0.37%, to $0.270.
xG Technology, Inc. ( XGTI), a developer of patented wireless communications and spectrum sharing technologies, declares that its xMax private wireless broadband system will be FirstNet-ready, having demonstrated interoperability with the commercial LTE cellular network. FirstNet is the planned U.S. nationwide broadband high-speed network that will be reserved for use by the first responder community, and having a solution which is LTE-capable is a key requirement. With LTE capability comprised of in the xMax system, these authorities can update their infrastructure by deploying the xMax wireless broadband system in their area to meet mission-essential needs, with confidence that it will meet their FirstNet needs in the future.
Scott Garlington, Vice President of Engineering for xG Technology, said, “xG’s product development team has demonstrated LTE network connectivity as a proof of concept by integrating an embedded module within the xMax CN3200 Dual-Band Routing Modem. This integration will allow xMax to serve as either a turnkey communications platform or a system to back up LTE networks that become congested or compromised, in addition to transitioning to a forward-compatible FirstNet solution. The modular design of our product family will give customers the option of upgrading xMax systems with commercial LTE to Band 14 LTE modules in the future. This set of attributes and capabilities is unique to the xMax solution.
xG Technology, Inc. develops communications technologies for wireless networks worldwide. The company’s intellectual property is embedded in proprietary software algorithms designed to offer cognitive interference mitigation and spectrum access solutions to organizations in a various industries, counting national defense and rural broadband. Its products comprise xMax, a mobile voice over Internet protocol (VoIP) and broadband data system that utilizes an end-to-end Internet protocol (IP) system architecture, which incorporates OFDM and multiple in multiple out and orthogonal frequency-division multiple to enhance interference tolerance, allow mobility, and improve resistance to fading.
MRC Global Inc (NYSE:MRC), during its Wednesday’s current trading session gained 0.71% to $15.67.
MRC Global Inc. (MRC), the largest global distributor, based on sales, of pipe, valves and fittings (PVF) and related products and services to the energy industry, recently declared first quarter 2015 results.
The company’s sales were $1.292 billion for the first quarter of 2015, which were 1% lower than the first quarter of 2014 and 14.5% lower than the fourth quarter of 2014. As contrast to the first quarter of 2014, sales were negatively influenced by $46.1 million in the first quarter of 2015 due to weaker foreign currencies relative to the U.S. dollar. Net income for the first quarter of 2015 was $29.1 million, or $0.28 per diluted share, contrast to a first quarter 2014 net income of $23.5 million, or $0.23 per diluted share.
MRC Global’s first quarter 2015 gross profit of $219.9 million, or 17.0% of sales, declined from first quarter 2014 gross profit of $232.1 million, or 17.8% of sales. The 80 basis point decline was a result of the impact of product mix changes and margin pressure in certain product categories related to the decline in oil prices. Gross profit for the first quarter 2015 and 2014 reflected a benefit of $0.2 million and a charge of $1.3 million, respectively, in cost of sales regarding the use of the LIFO method of inventory cost accounting.
Selling, general and administrative (“SG&A”) expenses were $159.4 million, or 12.3% of sales, for the first quarter of 2015 contrast to $171.4 million, or 13.1% of sales, for the same period of 2014. SG&A for the first quarter of 2015 comprised of $1.8 million of severance and related charges resulting from cost reduction efforts in addition to $2.9 million of incremental expenses related to our MSD Engineering Pte. Limited (“MSD”) and Hypteck AS (“Hypteck”) acquisitions. No such severance charges occurred during the first quarter of 2014.
MRC Global Inc., through its auxiliaries, distributes pipes, valves, fittings, and related products and services to the energy and industrial sectors in the Unites States, Canada, and internationally.
SM Energy Co (NYSE:SM), ended its Wednesday’s trading session with 1.40% gain, and closed at $53.54.
SM Energy Company (SM) declares that it has closed the sale of its formerly declared divestiture of Arkoma Basin properties. The Company received net proceeds of about $270 million, subject to post-closing adjustments, which the Company anticipates to be accomplished within 120 days. The effective date of the divestiture was March 1, 2015. The Company anticipates the formerly declared pending separate divestiture of its assets in the ArkLaTex area to close by the end of the second quarter of 2015. As formerly declared, lenders under the Company’s credit agreement have agreed not to reduce the Company’s $2.4 billion borrowing base due to these divestitures.
RBC Richardson Barr served as an advisor to SM Energy in these transactions.
SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and condensate, natural gas, and natural gas liquids in onshore North America. It primarily has operations in the South Texas and Gulf Coast region, which focuses primarily on Eagle Ford shale program; Rocky Mountain region comprising the Bakken/Three Forks formations in the North Dakota portion of the Williston Basin; Permian region covering western Texas and southeastern New Mexico; and Mid-Continent region, which manages Haynesville and Woodford shale assets.
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