On Thursday, Shares of Conoco Phillips (NYSE:COP), lost -1.51% to $52.10.
ConocoPhillips, stated a second-quarter 2015 net loss of $179 million, or ($0.15) per share, contrast with second-quarter 2014 earnings of $2.1 billion, or $1.67 per share. Not taking into account special items, second-quarter 2015 adjusted earnings were $81 million, or $0.07 per share, contrast with second-quarter 2014 adjusted earnings of $2.0 billion, or $1.61 per share. Special items for the current quarter primarily related to a deferred tax charge from a change in Canada’s tax law and non-cash impairments.
Highlights
- Raised quarterly dividend to $0.74 per share in July.
- Achieved second-quarter production of 1,595 MBOED; on track to achieve higher end of 2015 growth target.
- Four percent year-over-year production growth from ongoing operations, adjusted for Libya, downtime and dispositions.
- Eleven percent year-over-year reduction in operating costs; 14 percent reduction when adjusted for pension settlement and restructuring charges of $69 million pre-tax.
- Achieved major project startup at Enochdhu in Europe and first steam at Surmont 2 in Canada; on track for first production at Surmont 2, APLNG, CD5 and Drill Site 2S by year end.
- Declared reductions in future deepwater exploration spending.
- Lowering 2015 capital expenditures guidance from $11.5 billion to $11.0 billion and operating cost guidance from $9.2 billion to $8.9 billion.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids worldwide. Its portfolio comprises shale and oil sands assets; lower-risk legacy assets in North America, Europe, Asia, and Australia; various international developments; and exploration prospects. ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas.
Shares of Baidu Inc (ADR) (NASDAQ:BIDU), inclined 2.62% to $174.47, during its last trading session.
Baidu, declared that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$1 billion of its shares over the next 12 months.
The Company’s projected repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company plans to fund repurchases from its existing cash balance.
Baidu, Inc. provides Internet search services in China and internationally. It offers Chinese language search platform on its Baidu.com Website that enables users to find relevant information online, counting Web pages, news, images, documents, and multimedia files through links offered on its Website; and international products and services to users in other countries.
Finally, CommVault Systems, Inc. (NASDAQ:CVLT), ended its last trade with 4.13% gain, and closed at $37.60.
Commvault, declared its financial results for the first quarter ended June 30, 2015.
Commvault is the leader in enterprise data protection and information management
N. Robert Hammer, Commvault’s Chairman, President and CEO stated, “Our fiscal first quarter proved to be more challenging than we predictable. However, during the quarter we made excellent progress on our business transformation plan. The core foundational elements are now in place to propel improvement in the second half of the fiscal year. We believe the substantial changes we are making will strengthen our competitive position, enhance our accessible market, make it easier for our channel partners to sell, and enable us to execute our plans to significantly improve revenue and earnings growth. On a separate note, I am happy to report that Gartner has positioned Commvault in the “Leaders” quadrant of the Magic Quadrant for Enterprise Backup Software and Integrated Appliances for a fifth successive year. We believe this is a validation of the strength of our products and our company vision.”
CommVault Systems, Inc., together with its auxiliaries, provides data and information administration software applications and related services primarily in North America, Europe, Australia, and Asia.
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