On Thursday, in the course of current trade, Shares of Cirrus Logic, Inc. (NASDAQ:CRUS), climbed 19.90%, and is now trading at $36.81.
Cirrus Logic, posted on its investor relations website at http://investor.cirrus.com the quarterly Shareholder Letter that contains the complete financial results for the first quarter fiscal year 2016, which ended June 27, 2015, in addition to the company’s current business outlook.
“Q1 was a great quarter for Cirrus Logic. We delivered solid financial results as demand for our smart codecs and amplifiers pushed revenue above the high end of our guidance,” said Jason Rhode, president and chief executive officer. “FY16 looks to be an outstanding year with a noteworthy enhance in revenue being driven by new products. We expect strong demand for our audio and voice solutions to fuel additional growth in FY17.”
Cirrus Logic, Inc., a fabless semiconductor company, develops analog and mixed-signal integrated circuits for a range of consumer and industrial markets. It offers audio products, counting codecs, analog-to-digital converters, digital-to-analog converters, active noise cancelling circuits, amplifiers, and micro-electromechanical system microphones, in addition to standalone digital signal processors.
During an Afternoon trade, Shares of Navient Corp (NASDAQ:NAVI), dipped -0.06%, and is now trading at $16.22.
Navient, released second-quarter 2015 financial results that comprise $1 billion of student loan purchases and $300 million of common share repurchases.
“Even though the financial performance of many elements of our business was strong, several factors negatively influenced second-quarter results,” said Jack Remondi, president and CEO. “The overwhelming majority of our private education loans continue to demonstrate strong credit performance consistent with our expectations, but private education loan credit quality overall fell short of our forecast due to unfavorable trends for a small and declining segment of borrowers who re-entered repayment after returning to school during the recession. We revised our guidance based on our assessment of default trends for this segment, in addition to based on marketplace conditions for private loan purchases and opportunities to lower cost of funds that did not materialize. Still, our industry-leading default prevention work combined with an improving job market makes a meaningful difference to assist student loan borrowers succeed.”
Navient Corporation provides financial products and services in the United States. The company operates in four segments: FFELP Loans, Private Education Loans, Business Services, and Other.
Shares of KB Home (NYSE:KBH), during its Thursday’s current trading session fell -2.11%, and is now trading at $15.79.
KB Home, declared the grand opening of The Cottages, The Reserve and The Retreat at Vineyard Crossing, a highly anticipated master-planned community in Livermore. Located near Interstate 580 and directly across the street from an ACE train station, Vineyard Crossing is a commuter-friendly community offering convenience to major employers, historic downtown Livermore, and premier shopping and dining.
KB Home is introducing three communities at Vineyard Crossing—The Cottages, The Reserve and The Retreat—featuring a diverse mix of home designs and desirable price points tailored to appeal to a discerning clientele:
- The Cottages: The single-family, courtyard-style homes range in size from 1,640 to 2,079 square feet, with up to four bedrooms, three baths and two-car garages. Pricing starts in the high-$600,000s.
- The Reserve: The two-story floor plans accessible range in size from 1,973 to 2,270 square feet, with up to five bedrooms and three baths. Pricing starts in the high-$700,000s.
- The Retreat: Homebuyers have their choice of three, two-story floor plans that can be built with up to four bedrooms and two-and-a-half baths, priced from the low-$600,000s.
KB Home operates as a homebuilding company in the United States. It constructs and sells various homes, counting 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.
Finally, American Express Company (NYSE:AXP), lost -2.94% Thursday.
American Express Company stated second-quarter net income of $1.47 billion, down from $1.53 billion a year ago. Diluted earnings per share reduced 1 percent to $1.42, from $1.43 a year ago.
Results for the quarter were negatively affected by the noteworthy impact of a stronger U.S. dollar on international operations. The year-ago quarter comprised of business travel operations and a gain related to the business travel joint venture transaction.
American Express Company, together with its auxiliaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. The company operates through four segments: U.S. Card Services, International Card Services, Global Commercial Services, and Global Network & Merchant Services.
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