On Wednesday, Shares of Alibaba Group Holding Limited (NYSE:BABA), lost -1.03% to $73.12.
Alibaba Group Holding Limited declared the appointment of Wan Ling Martello to serve as an independent director on the Company’s board of directors.
Ms. Martello has 30 years of global business and finance experience working in the consumer packaged goods industry, retail sector, and e-commerce across a diverse set of companies. Ms. Martello is presently Nestlé S.A. executive vice president responsible for Asia, Oceania and Sub-Saharan Africa. Preceding to this role, she was chief financial officer of Nestlé S.A. Before joining Nestlé S.A., Ms. Martello worked at Walmart Stores Inc. where she served first as senior vice president and chief financial officer, Walmart International, and then executive vice president, global ecommerce. Before Walmart, Ms. Martello was President, U.S. at NCH Marketing Services Inc. She also worked at Borden Foods Corporation and Kraft Foods, Inc. where she held various senior administration positions.
Ms. Martello received a master’s degree in business administration, administration information systems from the University of Minnesota and a bachelor’s degree in business administration and accountancy from the University of the Philippines. She is a certified public accountant in the Philippines.
Ms. Martello’s appointment to the Alibaba Group board will be effective on September 1, 2015. Her appointment brings the total number of board members to 11. Ms. Martello will serve as a member of the audit committee.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Shares of Noble Corporation plc (NYSE:NE), declined -2.90% to $12.40, during its last trading session, as Copper and oil prices at a six-year low are reducing profits for commodity companies around the world, according to Bloomberg.
Shares of oil-related firms were hammered Wednesday after the U.S. Energy Information Administration stated an enhance in crude-oil supplies even as prices hit record lows.
Crude-oil futures for September delivery were off more than 4% after the EIA report revealed the rise in oil inventories. The energy sector, off 2.6%, was driving the S&P 500′s 10 main sectors lower.
Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It owns and operates a fleet of mobile offshore drilling units.
Finally, Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF), ended its last trade with 0.48% gain, and closed at $27.35.
Blue Buffalo declared its second quarter 2015 results.
Net sales raised $35.3 million, or 16.2%, to $254.0 million, driven primarily by volume growth. Net sales of Dry Foods raised $29.5 million, or 16.8%, to $205.6 million while net sales of Wet Foods, Treats and Other Products raised $5.8 million, or 13.6%, to $48.4 million.
Gross profit raised $14.8 million, or 17.4%, to $99.8 million and gross margin was 39.3%, up 40 bps contrast with 38.9% in the second quarter of 2014. The enhance in gross margin was driven primarily by lower costs associated with new product introductions in 2015 as contrast to 2014.
Selling, general, and administrative expenses raised $13.6 million, or 29.4%, to $59.7 million. Adjusted SG&A, which excludes litigation expenses and costs incurred in preparing for our initial public offering, raised $9.8 million, or 22.3%. This enhance was primarily due to our ongoing investments in advertising and marketing consistent with its strategy to continue to invest in its brand and investments made in planned initiatives.
Blue Buffalo Pet Products, Inc. operates as a holding company, which through its auxiliaries, produces and distributes pet food. The company offers dog and cat food made with whole meats, fruits, and vegetables under its Blue brand.
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