On Friday, Shares of Kansas City Southern (NYSE:KSU), lost -10.83% to $87.39. 8.33 million shares of the company were exchanged.
Kansas City Southern (KCS) (KSU) declared third quarter 2015 revenues of $632 million, a decrease of 7% compared to third quarter 2014. Overall, carload volumes were 2% lower than in third quarter 2014. Excluding the estimated impacts of Mexican peso depreciation and lower U.S. fuel prices, revenue increased 1% compared to the third quarter of 2014.
Compared to 2014, third quarter revenue included a 6% increase in Agriculture & Minerals and a 5% increase in Chemical & Petroleum. All other commodity groups were down compared to 2014.
Operating expenses in the third quarter were $412 million, 8% lower than 2014. Excluding the estimated impacts of Mexican peso depreciation and lower U.S. fuel prices, operating expenses increased 2% compared to the third quarter of 2014.
Kansas City Southern, through its auxiliaries, engages in the freight rail transportation business. It operates north/south rail route between Kansas City, Missouri, and various ports along the Gulf of Mexico in Alabama, Louisiana, Mississippi, and Texas in the midwest and southeast regions of the United States.
Shares of Net Element International Inc (NASDAQ:NETE), inclined 0.58% to $0.139, during its last trading session.
Net Element, Inc. ( NETE) declared the termination of $5 million senior convertible notes, which were declared as part of the financing on May 1, 2015 and extended through moratorium agreement with the investors until October 10, 2015.
As formerly stated on Form 8-K filed with the Securities and Exchange Commission (SEC) on August 4, 2015, Net Element reached two letter agreements dated August 4, 2015 with the certain qualified institutional investors and certain accredited investors listed in the Securities Purchase Agreement (the “Letter Agreement”). Among other things, the Letter Agreements offered that, absent a written agreement otherwise, all Notes (as defined in the Letter Agreements) will be automatically (i.e., without any further action by the Company or the investors) null and void as of the Moratorium Date with no obligations or liabilities whatsoever on the Company relating thereto; (ii) the investor’s right to purchase, and the Company’s obligation to issue, Additional Notes and Additional Warrants (each, as defined in the Debt Securities Purchase Agreement) will be automatically (i.e., without further action by the Company or the investors) null and void as of the Moratorium Date with no obligations or liabilities whatsoever of the Company relating thereto; and (iii) within five (5) business days from the Moratorium Date, the investors will return to the Company the originals of all Notes for cancellation by the Company. The Moratorium Date (as extended to 11:59 pm EST on October 11, 2015 as formerly stated on Current Reports on Form 8-K filed with the Securities and Exchange Commission on September 3, 2015, September 14, 2015, and October 1, 2015, respectively) has expired.
Net Element, Inc., a global payments-as-a-service, operates as a technology provider with an integrated mobile and transactional services platform serving emerging market clients.
At the end of Friday’s trade, Shares of QUALCOMM, Inc. (NASDAQ:QCOM), inclined 1.10% to $59.91.
Qualcomm Incorporated (QCOM), through its partner, Qualcomm Connected Experiences, Inc., declared it has signed a definitive agreement to sell its Vuforia business to PTC (PTC), a global provider of technology platforms and solutions that transform how companies create, operate, and service the “things” in the Internet of Things (IoT). Under terms of the agreement, PTC will acquire the award-winning Vuforia business, counting the developer ecosystem.
Vuforia is a mobile vision platform that enables applications to see, connecting the physical world with digital experiences that demand attention, drive engagement and deliver value. Over the 5 years since its inception, Vuforia has become an industry leading platform that has been supported by a global ecosystem of developers.
The transaction is predictable to close by the end of calendar year 2015, subject to customary closing conditions.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, and the United States.
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