On Wednesday, Shares of National Bank of Greece S.A. (NYSE:NBG), gained 4.29% to $1.46, following reports that the debt riddled country’s creditors are ready to compromise in order to avoid a default.
Creditors’ willingness to compromise comes even as Greece has warned that it may skip an IMF loan payment that is due this week, Reuters reports, adding that after months of tense negotiations the creditors have come up with a “take-it-or-leave-it” offer.
Greece’s Prime Minister Alexis Tsipras is in Brussels meeting with senior European officials and hearing terms of a plan created by the IMF, European Commission, and the European Central Bank.
The prime minister has drawn up his own plan, Reuters noted, saying that Tsipras intends on discussing this in Brussels and is calling on euro zone partners to show some “realism” and is pushing a deal that would allow the country an escape from “economic asphyxiation.”
National Bank of Greece S.A., together with its auxiliaries, provides diversified financial services. The company is involved in retail and commercial banking, asset administration, investment banking, brokerage, and insurance activities.
Shares of CSX Corp. (NYSE:CSX), closed at $34.10, during its last trading session.
CSX Corporation, Chief Financial Officer Fredrik Eliasson reviewed the company’s quarter-to-date volume and service performance and reaffirmed second quarter and full-year 2015 earnings expectations at the Deutsche Bank Global Industrials & Basic Material Conference in Chicago.
Eliasson also reviewed the company’s decade of strong financial performance, during which CSX expanded margins more than 1,600 basis points and delivered average annual growth in earnings per share of 20 percent. This performance was achieved while managing through a noteworthy decline in the company’s coal business, historically its most profitable market.
“While overall volume is tracking slightly below the levels in the second quarter of last year, service is improving steadily and we remain on track to deliver second quarter earnings per share that are flat to slightly up,” Eliasson said. “Delivering excellent service continues to underpin CSX’s ability to create strong shareholder value by pricing above inflation, driving ever more efficient operations, and growing merchandise and intermodal businesses faster than the economy.”
Key service measures continue to improve in the second quarter, as resources come on line in critical areas of the network. On-time originations and arrivals, dwell time and velocity have all improved during the quarter, and more meaningful improvements are predictable in the second half of the year.
CSX Corporation, together with its auxiliaries, provides rail-based transportation services in the United States and Canada. It offers traditional rail services, and transports intermodal containers and trailers.
At the end of Wednesday’s trade, Shares of Guess’ Inc. (NYSE:GES), gained 2.31% to $19.08.
Guess?, declared that Michael Relich, Chief Operating Officer, Sandeep Reddy, Chief Financial Officer, and other members of the executive team will take part in a fireside chat at the Piper Jaffray 35th Annual Consumer Conference on Tuesday, June 9, 2015 at 4:05 p.m. Eastern Time. The conference is being held at The New York Palace in New York City, NY.
Guess?, Inc. designs, markets, distributes, and licenses lifestyle collections of contemporary apparel and accessories for men, women, and children that reflect the American lifestyle and European fashion sensibilities. It operates through North American Retail, Europe, Asia, North American Wholesale, and Licensing segments.
Finally, The Michaels Companies, Inc. (NASDAQ:MIK), ended its last trade with 1.07% gain, and closed at $28.25.
The Michaels Companies, declared financial results for the quarter ended May 2, 2015.
For the Quarter Ended May 2, 2015:
- Net sales raised by 2.4%, or 3.6% on a constant currency basis, to $1.08 billion from $1.05 billion in the first quarter of fiscal 2014. Comparable store sales raised by 0.3% or 1.4% on a constant currency basis. Comparable store sales raised 3.8% in the first quarter of fiscal 2014, which comprised of about $30 million in sales of the Rainbow Loom product. The first quarter of fiscal 2015 also saw less favorable weather than the previous year and the impact of a strong U.S. dollar exchange rate.
- Gross profit raised 20 basis points to 41.0% of net sales contrast to 40.8% of net sales in the first quarter of fiscal 2014. The enhance reflects leverage in occupancy costs from lapping the remodel activity in Boston last year, merchandise margin benefits from a lower mix of Rainbow Loom sales and raised private brand penetration, partially offset by promotional activity driven by cadence of the quarter.
The Michaels Companies, Inc. owns and operates a chain of arts and crafts specialty retail stores under the Michaels and Aaron Brothers names in North America. The company’s Michaels stores offer about 35,000 stock-keeping units in arts, crafts, framing, floral, home décor and seasonal, scrapbooking, and seasonal merchandise.
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