On Tuesday, Shares of Starbucks Corporation (NASDAQ:SBUX), gained 1.37% to $62.18.
Starbucks Corporation, declared a noteworthy hiring milestone and investments to further bridge the gap between the military and civilians since only 12 percent of the U.S. public understands the service and sacrifice of the one percent who have served.1 The company has hired more than 5,500 veterans and military spouses, surpassing the halfway mark to reaching its commitment made in 2013 to hire 10,000 by 2018. Additionally, to better address the needs of partners (employees) who are active duty or reservists in the U.S. Armed Forces or National Guard, Starbucks declared a new pay-for-service-benefit, which will cover up to 80 hours of pay each year for service obligations.
As a company that already offers a tuition-free education to eligible U.S. partners through the Starbucks College Achievement Plan, the company also shared recently that it is providing partners who are current or former members of the U.S. Armed Forces with an additional tuition-free education to extend to a spouse or child. More than 4,000 partners already take advantage of this education benefit in partnership with Arizona State University (ASU) to earn a bachelor’s degree with 100 percent tuition coverage. ASU, with nearly 4,200 veterans and 1,000 military family members enrolled at the university, also demonstrates a strong commitment to veterans and military families through scholarships and the Pat Tillman Veterans Center and has been named one of the nation’s “Best for Vets” colleges by the Military Times.
“We have a responsibility as a nation to honor our veterans and their families for their service and sacrifice, but it goes beyond saying thank you – we must put our thanks into action and collectively assist those who are making the transition from military to civilian life,” said Starbucks chairman and ceo Howard Schultz. “Not only do we have a moral duty to engage veterans once they leave the service, we know that doing so in a meaningful way will ultimately strengthen our nation.”
Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; Europe, Middle East, and Africa; China/Asia Pacific; and Channel Development. The company’s stores offer coffee and tea beverages, packaged roasted whole bean and ground coffees, single serve products, and juices and bottled water.
Shares of Galena Biopharma Inc (NASDAQ:GALE), declined -11.05% to $1.53, during its last trading session.
Galena Biopharma, stated its financial results for the quarter ended September 30, 2015. The Company also declared it has accomplished a planned review of the organization and has elected to focus its efforts and financial resources exclusively on the continued development of its high value oncology pipeline led by NeuVax(TM) (nelipepimut-S), and divest its commercial business which comprises of Abstral(R) (fentanyl) Sublingual Tablets and Zuplenz(R) (ondansetron) Oral Soluble Film.
For financial and accounting purposes, Galena has classified its commercial business activities as suspended operations effective as of the third quarter, and the Company removes all revenue and expense guidance as it relates to its commercial business. Galena has engaged a financial advisor to provide planned advice and a process to divest the commercial business, and the Company anticipates exiting the commercial business by the end of the first quarter of next year. Providers and patients will have ongoing access to both drugs until we have transitioned out of the business.
“Led by NeuVax, Galena has an extremely robust clinical development pipeline targeting areas of high unmet medical need that represent noteworthy high-value market opportunities for the company,” said Mark W. Schwartz, Ph.D., President & CEO. “Over the past year, we have met several key development milestones while also expanding our clinical pipeline to four assets in eight ongoing or planned clinical trials. Our strategy going forward is to advance these programs while exploring additional indications in the immuno-oncology field where our assets can potentially make a difference in the treatment of cancer or in addressing the rapidly growing patient population of cancer survivors by harnessing the power of the immune system to prevent their cancer recurrence.”
Galena Biopharma, Inc., a biopharmaceutical company, focuses on developing and commercializing oncology therapeutics that address major unmet medical needs across cancer care. Its commercial products comprise Abstral, a sublingual tablet that is used for the administration of breakthrough pain in patients with cancer; and Zuplenz, an oral soluble film for use in the prevention of chemotherapy-induced, radiotherapy-induced, and post-operative nausea and vomiting.
Finally, Shares of Seagate Technology PLC (NASDAQ:STX), ended its last trade with -4.55% loss, and closed at $36.54.
Seagate Technology plc, stated financial results for the first quarter of fiscal year 2016 ended October 2, 2015. For the first quarter, the Company stated revenue of about $2.9 billion, gross margin of 23.6%, net income of $34 million and diluted earnings per share of $0.11. On a non-GAAP basis, which excludes the net impact of certain items, Seagate stated gross margin of 24.2%, net income of $165 million and diluted earnings per share of $0.54. For a detailed reconciliation of GAAP to non-GAAP results, see the accompanying financial tables.
During the first quarter, the Company generated about $824 million in operating cash flow, paid cash dividends of $163 million and repurchased about 20 million ordinary shares for $983 million. There were 299 million ordinary shares issued and outstanding as of the end of the quarter. Cash, cash equivalents, and short-term investments totaled about $1.9 billion at the end of the quarter.
“During the quarter, we made solid progress against our core initiatives to bolster our product portfolio, contain costs and return capital to shareholders,” said Steve Luczo, Seagate’s chairman and chief executive officer. “While lower than planned nearline enterprise demand temporarily influenced our financial results, we are happy with the momentum we have across our products, which will be further supported by the newly attained assets of Dot Hill and our ability to now completely integrate the Samsung hard drive business. As we look forward, we are focused on delivering storage solutions for a noteworthy range of existing, growing and emerging areas, and believe we have the right strategy and portfolio to deliver value to shareholders.”
Seagate Technology Public Limited Company designs, manufactures, and sells electronic data storage products in the Asia Pacific, the Americas, and EMEA countries. It provides hard disk drives, solid state hybrid drives, solid state drives, PCIe cards, and serial advanced technology architecture controllers that are designed for enterprise servers and storage systems in mission critical and nearline applications; for client compute applications comprising desktop and mobile computing; and for client non-compute applications, such as digital video recorders, personal data backup systems, portable external storage systems, digital media systems, and surveillance systems.