On Tuesday, HSBC Holdings plc (ADR) (NYSE:HSBC)’s shares declined -0.80% to $44.81.
HSBC Bank USA, N.A. (HSBC) has designated Pablo Sanchez Head of Retail Banking and Wealth Administration, effective June 1, 2015. In this New York City based role, Sanchez leads the U.S. Retail Banking and Wealth Administration business, counting Mortgage and Insurance, with oversight responsibility for the same business in Canada.
Patrick Burke, President and Chief Executive Officer, HSBC USA, said: “Pablo’s proven leadership skills and retail banking experience will be invaluable as we focus on further developing our Premier, Advance and Wealth Administration offerings and expanding the customer base.”
Sanchez joins HSBC from JPMorgan Chase, where he held a number of retail banking leadership roles since 2006, counting most recently as National Director, Consumer Banking. Before that he held executive positions at Home Loan Direct and in lending, mortgage, and retail operations at CitiMortgage - a partner of Citigroup.
HSBC Holdings plc provides banking and financial products and services. It operates through four businesses Retail Banking and Wealth Administration, Commercial Banking, Global Banking and Markets, and Global Private Banking. The company’s Retail Banking and Wealth Administration business offers a range of personal banking products and services, counting current and savings accounts, mortgages and personal loans, credit cards, debit cards, and local and international payment services; and wealth administration services comprising insurance and investment products, asset administration services, and financial planning services.
Adobe Systems Incorporated (NASDAQ:ADBE)’s shares dropped -0.33% to $81.01.
Adobe (ADBE) stated financial results for its second quarter fiscal year 2015 ended May 29, 2015.
Quarterly Financial Highlights
- Adobe achieved record quarterly revenue of $1.16 billion.
- Digital Media Annualized Recurring Revenue (“ARR”) grew to $2.35 billion exiting the quarter, driven by an enhance in Creative ARR of $230 million to $2.02 billion.
- Adobe Marketing Cloud achieved revenue of $327 million.
- Diluted earnings per share were $0.29 on a GAAP-basis, and $0.48 on a non-GAAP basis.
- Year-over-year, operating income grew 43 percent and net income grew 67 percent on a GAAP-basis; operating income grew 28 percent and net income grew 30 percent on a non-GAAP basis.
- Cash flow from operations was $471 million, and deferred revenue grew to an all-time high of $1.23 billion.
- The company repurchased about 2.6 million shares during the quarter, returning $200 million of cash to stockholders.
A reconciliation between GAAP and non-GAAP results is offered at the end of this press release and on Adobe’s website.
Adobe Systems Incorporated is a diversified software company worldwide. It operates in three segments: Digital Media, Digital Marketing, and Print and Publishing. The Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment’s flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.
At the end of Tuesday’s trade, Dresser-Rand Group Inc. (NYSE:DRC)‘s shares surged 0.01% to $85.18.
S&P SmallCap 600 constituent Cracker Barrel Old Country Store Inc. (CBRL) will replace Dresser-Rand Group Inc. (DRC) in the S&P MidCap 400, and Marten Transport Ltd. (MRTN) will replace Cracker Barrel Old Country Store in the S&P SmallCap 600 after the close of trading on Wednesday, July 1. Siemens AG is acquiring Dresser-Rand Group in a deal predictable to be accomplished soon.
Cracker Barrel Old Country Store develops and operates the Cracker Barrel Old Country Store concept. Headquartered in Lebanon, TN, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Restaurants Sub-Industry index.
Marten Transport operates as a temperature-sensitive truckload carrier for shippers. Headquartered in Mondovi, WI, the company will be added to the S&P SmallCap 600 GICS Trucking Sub-Industry index.
Dresser-Rand Group Inc., together with its auxiliaries, designs, manufactures, sells, and services rotating equipment solutions to the oil, gas, chemical, petrochemical, process, power generation, military, and other industries worldwide. It operates in two segments: New Units, and Aftermarket Parts and Services. The New Units segment provides engineering, manufacturing, project administration, packaging, testing, sales, and administrative support services for centrifugal and reciprocating compression equipment and steam turbines; power turbines; special-purpose gas turbines; power recovery expanders; diesel, gas, and dual fuel engines; trip, trip throttle, and non-return valves; and magnetic bearings and control systems.
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