On Friday, Shares of Paragon Offshore PLC (NYSE:PGN), gained 8.71% to $0.750.
Paragon Offshore declared that Steven A. Manz, Senior Vice President and Chief Financial Officer of Paragon, will present at the Pareto Securities Oil & Offshore Conference in Oslo, Norway starting at 5:10 p.m. Central European Time on Wednesday, September 2, 2015.
Paragon Offshore plc, together with its subsidiaries, provides offshore drilling rigs. The company is involved in contracting its rigs, related equipment, and work crews to conduct oil and gas drilling and work over operations for its exploration and production customers on a day rate basis.
Shares of KB Home (NYSE:KBH), inclined 0.56% to $14.43, during its last trading session.
KB Home declared the grand opening of its Lakewood Pines community, nestled within the desirable West Lake Houston corridor, close to shopping and entertainment, in addition to major area employers. Residents in this gated neighborhood will enjoy exclusive access to a host of excellent planned community amenities and the opportunity to live on exclusive lakefront properties.
Lakewood Pines is conveniently located in close proximity to great shopping at the Atascocita Town Center and the local H-E-B® Summerwood Market, in addition to major employment centers, counting the Houston Ship Channel and forthcoming Generation Park.
KB Home operates as a homebuilding company in the United States. It constructs and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, move-up, and active adult homebuyers under the name KB Home.
At the end of Friday’s trade, Shares of Express, Inc. (NYSE:EXPR), gained 2.03% to $20.39.
Express declared its financial results for the second quarter of 2015. These results cover the thirteen and twenty-six week periods ended August 1, 2015 and compare to the thirteen and twenty-six week periods ended August 2, 2014.
Second Quarter 2015 Operating Results:
- Net sales raised 11% to $535.6 million from $481.4 million in the second quarter of 2014.
- Comparable sales (counting e-commerce sales) raised 7%, contrast to a 5% decrease in the second quarter of 2014.
- E-commerce sales rose 21% to $75.0 million.
- Merchandise margin grew by 240 basis points as we continued to manage inventory levels and promotions with restraint. Buying and occupancy as a percentage of net sales also improved by 240 basis points as costs were leveraged against higher sales. These led to a gross margin improvement of 480 basis points, with gross margin of 33.1% contrast to 28.3% in last year’s second quarter.
- Selling, general, and administrative (SG&A) expenses were $140.6 million as compared to $121.9 million in last year’s second quarter, primarily due to the addition of outlet related expenses and incentive compensation. As a percentage of net sales, SG&A expenses raised by 90 basis points to 26.2% contrast to 25.3% in last year’s second quarter.
- Operating income was $35.9 million, or 6.7% of net sales, contrast to $14.6 million, or 3.0% of net sales in the second quarter of 2014.
- Income tax expense was $13.2 million, at an effective tax rate of 38.5%, contrast to $1.8 million, at an effective tax rate of 20.6% in last year’s second quarter. The tax rate for the second quarter of 2014 reflected the release of uncertain tax positions following the conclusion of a multi-year IRS tax examination.
- Net income was $21.0 million, or $0.25 per diluted share. This compares to net income of $6.9 million, or $0.08 per diluted share, in the second quarter of 2014.
- Real estate activity for the second quarter of 2015 is presented in Plan 5.
Express, Inc. operates as a specialty apparel and accessories retailer. It offers apparel and accessories for women and men between 20 and 30 years across various aspects of lifestyles, including work, casual, jeanswear, and going-out occasions.
Finally, International Paper Co (NYSE:IP), ended its last trade with 1.37% gain, and closed at $43.74.
The National Fish and Wildlife Foundation (NFWF) and International Paper (IP) declared $2.1 million in grants to support forestland restoration and working forests in three priority regions in the Southeast: The Carolina Low Country Forests; Cumberland Plateau of Alabama, Georgia, Kentucky and Tennessee; and the Piney Woods of Texas and Louisiana. Thirteen projects have been selected to receive grants through the Forestland Stewards Initiative, a partnership of NFWF and International Paper. These grants will leverage nearly $4.8 million in additional funds and in-kind support from agency and project partners and will ultimately establish more than 6,100 new acres and enhance about 22,600 existing acres of longleaf and shortleaf pine and riparian forest habitat.
Established in March 2013, the Forestland Stewards Initiative is a pioneering partnership created to conserve and restore southern forestlands representing some of America’s most iconic landscapes. These forests provide critical habitats for endangered wildlife and economic opportunities for local communities. Through the initiative, International Paper has committed $7.5 million over five years to restore native forests, strengthen important fish and wildlife populations, and protect watersheds — while at the same time promoting and supporting working forests in eight states across the southeastern United States.
International Paper Company operates as a paper and packaging company in North America, Europe, Latin America, Russia, Asia, Africa, and the Middle East. The company operates through three segments: Industrial Packaging, Printing Papers, and Consumer Packaging.
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