On Tuesday, Shares of Youku Tudou Inc (ADR) (NYSE:YOKU), gained 1.41% to $18.65.
Youku Tudou Inc., will report its second quarter 2015 unaudited financial results on Wednesday August 19, 2015, after the close of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 9:00 p.m. U.S. Eastern Time, August 19, 2015 (9:00 a.m. Beijing / Hong Kong time, August 20, 2015). Youku Tudou’s administration will be on the call to talk about the quarterly results and answer questions.
Youku Tudou Inc. operates as an Internet television company in the People’s Republic of China. Its Internet television platform enables users to search, view, and share video content across various devices.
Shares of Kraft Heinz Co (NASDAQ:KHC), declined -0.80% to $75.19, during its last trading session.
The Kraft Heinz Company stated second quarter results for Kraft Foods Group, Inc. (“Kraft”) and H.J. Heinz Holding Corporation (“Heinz”) for the periods ended June 27, 2015, and June 28, 2015, respectively. Kraft Heinz filed a Form 8-K with the U.S. Securities and Exchange Commission (“SEC”) containing a detailed talk aboution of Kraft’s second quarter results in addition to a Form 10-Q containing a detailed talk aboution of Heinz’s second quarter results. Subsequent to the end of the second quarter, the company successfully accomplished the merger of Kraft and Heinz.
“The company is focused on the difficult and challenging process of integrating our two businesses,” said Kraft Heinz CEO Bernardo Hees. “We have a lot of hard work ahead of us as we continue to design our new organization, always putting our consumers first.”
The company remains confident in its ability to deliver against its initial financial expectations for the merger of Kraft and Heinz, counting its expectation to generate aggressive, run-rate cost savings of $1.5 billion by the end of 2017, inclusive of savings from productivity and cost savings initiatives contemplated preceding to the merger. As a matter of practice, however, Kraft Heinz does not expect to issue or update earnings guidance going forward.
The Kraft Heinz Company, through its auxiliaries, operates as a food and beverage company in North America and internationally. It primarily offers food and beverage products, counting cheese, meats, refreshment beverages, coffee, packaged dinners, refrigerated meals, snack nuts, dressings, ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition, and other food and grocery products.
At the end of Tuesday’s trade, Shares of Radian Group Inc (NYSE:RDN), lost -1.14% to $18.24.
Radian Group, stated net income for the quarter ended June 30, 2015, of $50.0 million, or $0.22 per diluted share, which comprised of the following pre-tax items: a loss of $91.9 million on induced conversion and debt extinguishment from recent actions to strengthen the company’s capital structure, and net gains of $28.4 million on investments and other financial instruments. This compares to net income for the quarter ended June 30, 2014, of $174.8 million, or $0.78 per diluted share, which comprised of pre-tax net gains of $25.3 million on investments and other financial instruments, and $71.3 million of net income from suspended operations. The company also stated an income tax provision of $34.8 million for the quarter ended June 30, 2015, contrast to an income tax benefit of $10.7 million for the quarter ended June 30, 2014.
Adjusted pretax operating income for the quarter ended June 30, 2015, was $147.3 million, contrast to adjusted pretax operating income for the quarter ended June 30, 2014, of $74.1 million.
SECOND QUARTER HIGHLIGHTS AND RECENT EVENTS
Mortgage Insurance
- New mortgage insurance written (NIW) was $11.8 billion for the quarter, contrast to $9.4 billion in the first quarter of 2015 and $9.3 billion in the preceding-year quarter.
- Of the $11.8 billion in new business written in the second quarter of 2015, 68 percent was written with monthly premiums and 32 percent with single premiums. This compares to a mix of 63 percent monthly premiums and 37 percent single premiums in the first quarter of 2015.
- Refinances accounted for 23 percent of total NIW in the second quarter of 2015, contrast to 33 percent in the first quarter of 2015, and 13 percent a year ago.
- NIW continued to comprise of loans with excellent risk characteristics.
- Total primary mortgage insurance in force was $172.7 billion, contrast to $172.1 billion as of March 31, 2015, and $165.0 billion as of June 30, 2014. Persistency, which is the percentage of mortgage insurance in force that remains on the company’s books after a twelve-month period, was 80.1 percent as of June 30, 2015, contrast to 82.6 percent as of March 31, 2015, and 83.9 percent as of June 30, 2014.
Radian Group Inc., through its auxiliaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance, and Mortgage and Real Estate Services (MRES).
Finally, Ameren Corp (NYSE:AEE), ended its last trade with -0.46% gain, and closed at $43.20.
Ameren Corporation, declared second quarter 2015 net income in accordance with generally accepted accounting principles (GAAP) of $150 million, or 61 cents per share, contrast to second quarter 2014 GAAP net income of $149 million, or 61 cents per share. Not taking into account results from suspended operations and a 2015 loss provision for disongoing pursuit of a construction and operating license (COL) for a second nuclear unit at Ameren Missouri’s Callaway Energy Center, Ameren recorded second quarter 2015 core (non-GAAP) net income of $141 million, or 58 cents per share, contrast with second quarter 2014 core net income of $150 million, or 62 cents per share.
The year-over-year decrease in second quarter 2015 core earnings reflected lower retail electric sales volumes driven primarily by milder early summer temperatures in 2015. In addition, the earnings comparison was negatively affected by a seasonal rate redesign and the timing of revenues under formula ratemaking related to Ameren Illinois electric delivery, in addition to higher depreciation and amortization expenses. The effects of these factors were partially offset by earnings on raised investments in electric transmission and delivery infrastructure made under formula ratemaking and a lower effective income tax rate.
Ameren Corporation operates as a public utility holding company in the United States. The company engages in the rate-regulated electric generation, transmission, and distribution; and rate-regulated natural gas transmission and distribution businesses.
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