On Thursday, Shares of AK Steel Holding Corporation (NYSE:AKS), lost -3.40% to $3.13.
AK Steel Holding Corporation stated its financial results for the second quarter of 2015.
AK Steel stated a net loss of $64.0 million, or $0.36 per diluted share of common stock, for the second quarter of 2015, contrast to a net loss of $17.1 million, or $0.13 per diluted share, for the second quarter of 2014 and a net loss of $306.3 million, or $1.72 per diluted share, for the first quarter of 2015. The company stated adjusted EBITDA (as defined in the “Non-GAAP Financial Measures” section below) of $47.6 million, or $26 per ton, for the second quarter of 2015 contrast to adjusted EBITDA of $64.5 million, or $46 per ton, for the year-ago second quarter and adjusted EBITDA of $57.5 million, or $33 per ton, for the first quarter of 2015.
“Continued strength in the automotive market contributed to an overall enhance in automotive market and total shipments quarter-over-quarter for the company,” said James L. Wainscott, Chairman, President and CEO of AK Steel. “Unfortunately, however, continued high levels of what we believe are unfairly traded imports significantly influenced selling prices in the carbon steel spot market, which negatively influenced the company’s results.”
Net sales for the second quarter of 2015 were $1.69 billion on shipments of 1,811,700 tons, contrast to net sales of $1.53 billion on shipments of 1,397,500 tons for the year-ago second quarter and net sales of $1.75 billion on shipments of 1,750,500 tons for the first quarter of 2015. The company’s shipments in the second quarter of 2015 were higher than the first quarter of 2015, primarily as a result of raised shipments to the carbon spot market and continued strength in the automotive market. The enhance in shipments and sales for the second quarter of 2015 contrast to the year-ago period was due principally to the addition of shipments from Dearborn Works (attained in September of 2014) and continued strong shipments of carbon and stainless products to the automotive market.
AK Steel Holding Corporation, through its partner, AK Steel Corporation, produces flat-rolled carbon, stainless and electrical steel, and tubular products in the United States and internationally. It produces flat-rolled value-added carbon steels, counting coated, cold-rolled, and hot-rolled carbon steel products; and specialty stainless and electrical steels in sheet and strip forms.
Shares of Exxon Mobil Corporation (NYSE:XOM), declined -0.16% to $83.01, during its last trading session.
ExxonMobil is among the companies whose shares are predictable to see active trade in Friday’s session, as it is projected to report second-quarter earnings of $1.11 a share, according to a FactSet survey of analysts. The oil company earned $1.66 a share a year ago.
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania.
Finally, Texas Instruments Inc. (NASDAQ:TXN), ended its last trade with 0.56% gain, and closed at $50.24.
University electrical engineering design projects from across North America offered a glimpse into the future through the annual Texas Instruments (TI) (NASDAQ:TXN) Innovation Challenge North America Design Contest award ceremony held July 27, 2015. Drawing upon TI technology, winning projects from the 2015 design contest comprised of advanced solutions that will change how the physically disabled create music; how the hearing impaired communicate with others; and how unmanned search and rescue missions are carried out.
Troy Bryant and Sean Lyons from the University of Florida were named the overall winners for their project, Seven Deadly Synths: A non-contact synthesizer. Inspired by the early analog synthesizers of the 1960s and 70s, Bryant and Lyons sought to create a musical device that could be operated without advanced motor skills. Featuring a complete design based on TI technology, from power administration to a microcontroller (MCU) to signal chain, the team created a synthesizer instrument that can be used by musicians of all skill levels. The device specifically allows disabled musicians to create sounds using simple movements, like the wave of a hand.
The winning project features 35 TI components in its build design, counting a real-time MCU, eight power administration solutions and 26 signal chain products.
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates through two segments, Analog and Embedded Processing. The Analog segment offers high volume analog and logic products for automotive safety devices, touch screen controllers, low voltage motor drivers, and integrated motor controllers; and power administration products to enhance the efficiency of powered devices using battery administration solutions, portable power conversion devices, power supply controls, and point-of-load products.
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