On Wednesday, Shares of BlackBerry Limited (NASDAQ:BBRY), gained 2.56% to $8.
Morgan Stanley upgraded BlackBerry Limited to equal-weight from underweight citing the company’s cash stockpile and plans to cut costs. BlackBerry’s cash balance is worth roughly $3.50 to $3.75 a share, more than half of its current share-price value, the bank stated. The company had $3.3 billion of cash and short-term investments as of the end of its May quarter, according to FactSet.
BlackBerry Limited provides wireless communications solutions worldwide. The company offers BlackBerry wireless solutions, which comprise the sale of BlackBerry handheld devices; and the provision of data communication, and compression and security infrastructure services enabling BlackBerry handheld wireless devices to send and receive wireless messages and data.
Shares of AK Steel Holding Corporation (NYSE:AKS), inclined 11.72% to $3.24, during its last trading session.
AK Steel Holding Corporation stated its financial results for the second quarter of 2015.
2nd Quarter 2015 Performance Summary
- Shipments of 1,811,700 tons
- Sales of $1.69 billion with an average selling price of $931 per ton
- Net loss of $64.0 million, or $0.36 per diluted share
- Adjusted EBITDA of $47.6 million
- Liquidity of about $800 million
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 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.
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.
Finally, Scorpio Tankers Inc. (NYSE:STNG), ended its last trade with -1.81% loss, and closed at $10.87.
Scorpio Tankers stated its results for the three and six months ended June 30, 2015.
Results for the three months ended June 30, 2015 and 2014
- For the three months ended June 30, 2015, the Company’s adjusted net income was $57.5 million, or $0.35 basic and $0.32 diluted earnings per share, which excludes an unrealized gain on derivative financial instruments of $0.1 million, or $0.00 per basic and diluted shares. For the three months ended June 30, 2015, the Company had net income of $57.6 million, or $0.35 basic and $0.32 diluted earnings per share.
- For the three months ended June 30, 2015, the Company’s basic and diluted weighted average number of shares were 162,457,319 and 199,202,256, respectively. The diluted weighted average number of shares comprises the potentially dilutive shares regarding company’s Convertible Senior Notes due 2019 representing 31,094,568 potential common shares.
Scorpio Tankers Inc., together with its auxiliaries, engages in the seaborne transportation of refined petroleum products and crude oil worldwide. As of July 13, 2015, it owned 67 tankers comprising 16 LR2 tankers, 15 Handymax tankers, and 45 MR tankers with an average age of 0.9 years; and time charters-in 17 product tankers, counting 4 LR2, 4 LR1, 4 MR, and 5 Handymax tankers.
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