On Thursday, Shares of WPX Energy Inc (NYSE:WPX), gain 3.65% to $7.66, as oil prices rebounded.
WTI crude oil for October delivery was up 3.2% to $47.73 a barrel Thursday morning, and Brent crude oil for October delivery was up 2.28% to $51.65 a barrel.
Crude oil prices were rising due to an equity market rally which offset improvements in U.S. oil stockpiles and a strong dollar, according to Reuters. Holidays in China which closed the country’s stock markets assisted stabilize oil prices which were volatile earlier in the week, according to the news source.
Pledges from the European Central Bank to keep monetary policy loose also assisted boost oil prices.
“This seems to be driven largely by hopes of further intervention by central banks,” Suden analyst Kash Kamal told Reuters. “Short term, this is bullish for crude, but that optimism could fade quickly as investors are reminded of the fundamentals.”
WPX Energy, Inc., an independent natural gas and oil exploration and production company, engages in the exploitation and development of unconventional properties in the United States. The company focuses on exploiting natural gas reserves base and related natural gas liquids in the Piceance Basin of the Rocky Mountain region, in addition to developing and growing oil positions in the Williston Basin in North Dakota and the San Juan Basin in the southwestern United States.
Shares of Ciena Corporation (NYSE:CIEN), inclined 2.18% to $22.98, during its last trading session.
Ciena ® (CIEN), the network specialist, declared that François Locoh-Donou has been designated senior vice president and chief operating officer, effective November 1, 2015, reporting directly to President and CEO Gary B. Smith. Locoh-Donou has served as senior vice president of Ciena’s Global Products Group since August 2011.
“In filling this new role that was created to facilitate greater organizational alignment between our product and customer teams to continue driving Ciena’s growth and diversification, François brings deep knowledge of the industry, our company and, most importantly, our customers’ business precedingities and future technology strategies,” said Mr. Smith. “This appointment reinforces the strength of Ciena’s administration team and succession plan, and we look forward to François’ contributions in building on our trusted customer relationships to assist them create open, on-demand network environments.”
Ciena Corporation provides equipment, software, and services that support the transport, switching, aggregation, service delivery, and administration of voice, video, and data traffic on communications networks worldwide.
Finally, Mentor Graphics Corp (NASDAQ:MENT), ended its last trade with 0.60% gain, and closed at $25.35.
Mentor Graphics Corp, declared financial results for the companys fiscal second quarter ended July 31, 2015. The company stated revenues of $281.1 million, non-GAAP earnings per share of $0.36, and GAAP earnings per share of $0.26.
Revenue was an all-time second quarter record and Mentor exceeded non-GAAP earnings per share guidance for the 26 th successive quarter, said Walden C. Rhines, chairman and CEO. Customer need for raised amounts of software drove early renewal activity and the upside in the quarter. Demand was strongest in both Design to Silicon and Scalable Verification. During the quarter we added five new emulation customers, counting both a Top Ten chip company and a start-up.
During the quarter, the company declared Veloce® Power Application software, which captures real power consumption during emulation and passes the information efficiently to power analysis tools. Mentor also declared its next-generation MicReD® Industrial Power Tester, which now provides 1500 amp electronic component power cycling and thermal testing for up to 12 devices simultaneously, to benefit automotive, railway, power generation and renewable energy industries. The quarter also had a major new release of the Mentor® Enterprise Verification Platform, with new levels of Questa® performance and productivity in areas counting simulation, debug, and low-power verification.
In the second quarter the company also declared the newest version of the FloTHERM® XT product, with EDA connectivity for advanced thermal administration of electronic systems, printed circuit boards and packages of any geometric complexity. In addition Mentor introduced the latest release of the Flowmaster® computational fluid dynamics software targeting network systems in automotive, aerospace and power generation. The company also declared a new release of the Mentor® Embedded Nucleus® Real-Time Operating System targeting connected embedded devices for high-performance Internet of Things applications.
Second quarter results highlight both our continued rigorous attention to cost control and the operating leverage in our business, said Gregory K. Hinckley, president of Mentor Graphics. On an 8% improvement in revenue, GAAP and non-GAAP operating expenses grew less than 1.5% year on year. Second quarter revenue exceeded guidance by 12% while non-GAAP EPS was up over 150% as compared to guidance. Cash flow, another important metric, was strong with cash flow from operations of $49 million in the second quarter and $95 million in the first half of fiscal 2016.
Mentor Graphics Corporation provides electronic design automation software and hardware solutions to automate the design, analysis, and testing of electro-mechanical systems, electronic hardware, and embedded systems software.
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