On Friday, Shares of JDS Uniphase Corporation (NASDAQ:JDSU), gained 0.27% to $11.09.
JDS Uniphase Corporation will declare its fiscal fourth quarter and year-end 2015 financial results for the period ended June 27, 2015, on Tuesday, August 11, 2015, after close of market.
JDSU anticipates to complete the spinoff of its Communications and Commercial Optical Product business segment as Lumentum Holdings Inc. on Saturday, August 1, 2015, at which time JDSU will be renamed Viavi Solutions Inc.
JDS Uniphase Corporation provides network and service enablement solutions and optical products worldwide. The company’s Network and Service Enablement segment offers network and service enablement solutions that enable the design, development, deployment, and maintenance of communication equipment and networks.
Shares of ConocoPhillips (NYSE:COP), declined -3.32% to $50.34, during its last trading session, hitting its lowest level.
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.
Finally, AbbVie Inc. (NYSE:ABBV), ended its last trade with -0.21% loss, and closed at $70.01.
The U.S. Department of Veterans Affairs was authorized to spend as much as $500 million for hepatitis C treatments through Oct. 1 as part of the emergency highway funding bill signed into law on Friday, according to Bloomberg.
The spending could provide a short-term sales boost for Gilead Sciences Inc., which makes the hepatitis C treatments Harvoni and Sovaldi, and for AbbVie Inc., which makes a similar drug, Viekira Pak. Gilead sold $4.9 billion of its hepatitis C pills in the second quarter, while AbbVie sold $385 million of its treatment in the same period. Bloomberg Reports
The drugmakers said funding shortages at the VA have affected sales. Overall patient volumes in the U.S. may have declined in part because of fewer patients treated by the VA, AbbVie’s Chief Executive Officer Rick Gonzalez said on a July 24 conference call with analysts. Bloomberg added.
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company’s products comprise HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; VIEKIRA PAK, an all-oral, short-course, interferon-free therapy, with or without ribavirin, for adult patients with genotype 1 chronic hepatitis, counting those with compensated cirrhosis; Kaletra, an anti-HIV-1 medicine used with other anti-HIV-1 medications as a treatment that maintains viral suppression in people with HIV-1; Norvir, a protease inhibitor indicated in combination with other antiretroviral agents to treat HIV-1 infection; and Synagis to prevent respiratory syncytial virus infection in high risk infants.
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