On Monday, Shares of Alibaba Group Holding Limited (NYSE:BABA), gained 0.58% to $75.19.
Alibaba Group Holding Limited declared the launch of Suning Commerce’s official flagship store (http://suning.tmall.com) on Tmall.com, China’s largest third-party B2C platform for brands and retailers, a move that closely follows the declaration of Alibaba Group’s investment in Suning Commerce Group Limited made last week.
Alibaba Group and Suning Commerce Group have reached a planned alliance, through Alibaba’s 19.99% stake investment in Suning declared last week, in order to build on synergies in e-commerce, logistics, and new businesses through joint omni-channel initiatives. Through the cooperation, Alibaba and Suning will be able to provide holistic and more convenient shopping experiences for consumers in China.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Shares of Ascent Solar Technologies, Inc. (NASDAQ:ASTI), declined -20.88% to $0.17, during its last trading session, hitting its lowest level.
Ascent Solar Technologies stated results for the second quarter ending June 30, 2015.
Q2 & H1-2015 Financial Results
Total revenue for the second quarter of 2015 was $2.2M, up about 105% from the same period last year. Loss from Operations in the quarter was ($6.9M), an improvement of about $1M or 12.6% from ($7.9M) in the same period last year.
For the six months ended June 30, 2015, total revenue was $2.9M, up from $1.8M in H1-2014 or about 57% growth. Loss from Operations improved by about 11% or $1.7M from ($15.5M) in H1-2014 to ($13.8M) in H1-2015, due to a combination of increasing sales and improved operational efficiencies while keeping operating expenses marginally down. These expenses are predictable to remain relatively flat while we continue to ramp up on revenue growth.
Ascent Solar Technologies, Inc., a development stage company, designs and manufactures photovoltaic integrated consumer electronics; and portable power applications for commercial and military users.
Finally, Fairmount Santrol Holdings Inc. (NYSE:FMSA), ended its last trade with 0.19% gain, and closed at $5.30.
Fairmount Santrol Holdings declared results for the second quarter ended June 30, 2015.
Second-quarter 2015 revenue totaled $221.3 million, down 34% from $334.3 million for the same period in 2014, and down 27% from $301.5 million in the first quarter of 2015. Overall sales volumes were 2.2 million tons for the quarter, about an 8% decrease contrast with 2.4 million tons in the second quarter of 2014 and a 4% sequential decrease from 2.3 million tons. The decrease in volumes in the second quarter of 2015 over the preceding-year period was primarily a result of reduced demand for proppants due to the continued decline in U.S. oil and gas land drilling activity driven by sustained low oil and gas prices.
For the second quarter, net income was $ 14.1 million, or $0.08 per diluted share, contrast with net income of $43.9 million, or $0.27 per diluted share, for the same period a year ago and $30.8 million, or $0.18 per diluted share, in the first quarter of 2015. Adjusted earnings per diluted share were $0.02, contrast with $0.27 for the second quarter of 2014 and $0.19 in the first quarter of 2015. Adjusted earnings per share exclude the after-tax impact of non-recurring charges of $0.06 per share taken in the second quarter and the benefit recorded in the quarter of $0.12 per share from a decrease in the Company’s estimated full-year tax rate from 25% to a negative 55%. Adjusted EBITDA of $36.5 million was down 62% from the same period a year ago and down 51% sequentially. The decline in adjusted earnings resulted primarily from lower proppant volumes and pricing, in addition to a mix shift toward uncoated products.
Fairmount Santrol Holdings Inc., together with its auxiliaries, provides sand-based proppant solutions for exploration and production companies to enhance the productivity of their oil and gas wells. The company operates in two segments, Proppant Solutions and Industrial & Recreational (I&R) Products.
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