On Tuesday, Aeropostale Inc (NYSE:ARO)’s shares inclined 5.56% to $1.80.
Aeropostale Inc (ARO) stated results for the first quarter of fiscal 2015, and offered guidance for the second quarter of fiscal 2015.
First Quarter Performance
For the first quarter of fiscal 2015, net sales reduced 20% to $318.6 million, from $395.9 million in the year ago period. Comparable sales, counting the e-commerce channel, for the first quarter reduced 11%, contrast to a decrease of 13% for the corresponding 13-week period ended May 3, 2014.
The Company stated a net loss for the first quarter of fiscal 2015 of $45.3 million, or $0.57 per diluted share, which comprised of:
- an after-tax charge of $2.3 million, or $0.03 per diluted share, resulting from store closing costs, partially offset by
- an after-tax benefit of $1.1 million, or $0.02 per diluted share, resulting from a retirement plan settlement adjustment.
Not taking into account the aforementioned charges, the Company stated an adjusted net loss of $44.0 million, or $0.56 per diluted share in the first quarter of fiscal 2015 (see Exhibit C).
Aéropostale, Inc. operates as a specialty retailer of casual apparel and accessories for 14 to 17 year-old young women and men. It operates through two segments, Retail Stores and E-Commerce, and International Licensing.
Hartford Financial Services Group Inc (NYSE:HIG)’s shares gained 0.05% to $41.03.
Hartford Financial Services Group Inc (HIG)’s board of directors recently declared a quarterly dividend of $0.18 per share of common stock, payable on July 1, 2015, to shareholders of record at the close of business on June 1, 2015.
The Hartford Financial Services Group, Inc., through its auxiliaries, provides insurance and financial services to individual and business customers primarily in the United States. The companys Commercial Lines segment offers workers compensation, property, automobile, marine, umbrella, liability, and livestock coverages, in addition to customized insurance products and risk administration services, counting professional liability, bond, and specialty casualty coverages. Its Personal Lines segment provides standard automobile, homeowners, and personal umbrella coverages to individuals.
At the end of Tuesday’s trade, Cadence Design Systems Inc (NASDAQ:CDNS)‘s shares surged 0.71% to $19.95.
Cadence Design Systems Inc (CDNS) is planned to demonstrate the latest advancements and solutions to key technology challenges, solved in partnershipwith customers and partners, at the Design Automation Conference (DAC) 2015.
WHEN:
Sunday, June 7 through Thursday, June 11, 2015
WHERE:
DAC 2015 will take place at the South Hall of Moscone Center in San Francisco, CA. Cadence is located in Booth 3515.
Cadence Design Systems, Inc. develops, sells, leases, and licenses electronic design automation (EDA) software, emulation and prototyping hardware, verification intellectual property (VIP), and design intellectual property (design IP) for semiconductor and electronics systems industries worldwide. It offers functional verification products, counting logic verification software that enables customers to coordinate verification activities across multiple teams and various specialists for verification planning and closure; and system design and verification products for hardware-software verification, in addition to for system power exploration, analysis, and optimization.
Goodyear Tire & Rubber Co (NASDAQ:GT), ended its Tuesday’s trading session with -0.59% loss, and closed at $32.22.
Goodyear Tire & Rubber Co (GT) declared it has entered into an investment agreement with an associate of Brookfield Asset Administration Inc. under which Brookfield will acquire $150 million of 7% convertible preferred shares of GrafTech in a private offering. The investment agreement follows the letter of intent declared by GrafTech on April 29, 2015.
The convertible preferred share issuance, which was unanimously approved by GrafTech’s Board of Directors, is predictable to close once customary closing conditions, counting applicable regulatory approvals, are satisfied.
Under the terms of the investment agreement, upon issuance, the convertible preferred shares will be issued in two series, Series A shares and Series B shares. The series A shares will be right away convertible into GrafTech common shares equal to about 19.9% of the presently outstanding shares of GrafTech common stock, at a conversion price of $5.00 per common share, subject to customary anti-dilution adjustments. The series B shares will become convertible into common shares equal to about 2% of the presently outstanding shares only upon approval by GrafTech stockholders in accordance with New York Stock Exchange requirements. If approved, the two series will be combined into one series.
GrafTech International Ltd. manufactures and sells graphite and carbon material science-based solutions. It operates through two segments, Industrial Materials and Engineered Solutions.
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