On Monday, in the course of Afternoon trade, Shares of MasTec, Inc. (NYSE:MTZ), dropped -3.04%, and is now trading at $17.89.
MasTec, declared it will be filing its 2014 Annual Report on Form 10-K on July 31, 2015. The Audit Committee established and observed a process that the Company followed in the preparation of its 2014 Form 10-K, counting a detailed review of percentage-of-completion accounting at the Company’s Electrical Transmission segment and a detailed review of accounting judgments, estimates and entries over a multi-year period across the balance of the Company’s segments selected to further test the reliability of the formerly issued financial statements.
The Company has concluded that certain accounting adjustments are appropriate with respect to interim periods during the Company’s fiscal year ended December 31, 2014. In the aggregate, these interim period adjustments enhance the Company’s formerly revealed unaudited, preliminary net income attributable to MasTec, Inc. (“Net Income”) for the year ended December 31, 2014 by $0.3 million to an aggregate of $115.9 million.
MasTec, Inc., an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for energy, utility, and communications infrastructure primarily in the United States.
During an Afternoon trade, Shares of Kimco Realty Corp (NYSE:KIM), climbed 1.34%, and is now trading at $25.03.
Kimco Realty Corp., stated results for the second quarter ended June 30, 2015.
Highlights:
- Stated funds from operations (FFO) of $0.44 per diluted share for the second quarter of 2015 representing a 29.4% enhance over the comparable 2014 period; FFO as adjusted was $0.37 per diluted share for the second quarter of 2015 reflecting a 5.7% enhance over the same period in 2014;
- S. same-property net operating income (NOI) raised 3.7% for the second quarter contrast to the same period in 2014;
- S. portfolio pro-rata rental-rate leasing spreads raised 11.9% with rental rates for new leases up 26% and renewals/options increasing 8.7%;
- Business simplification continued – reduced joint venture ownership with the acquisition of the remaining 24.7% ownership interest in the $341.1 million KIF II portfolio and sold last remaining retail properties in Mexico; and
- Recognized $32.4 million gain on sale of 6.4 million shares of SUPERVALU Inc. (SVU) common stock.
Kimco Realty Corporation is an independent real estate investment trust. The firm invests in the real estate markets across North America. It is primarily engaged in acquisitions, development, and administration of neighborhood and community shopping centers.
Shares of Gold Fields Limited (ADR) (NYSE:GFI), during its Monday’s current trading session fell -6.70%, and is now trading at $2.58.
Gravitas Financial, declared that through its wholly owned partner New India Investment Corp (“NIIC”), it has made a planned investment into Innoviti Embedded Solution Pvt Ltd (“Innoviti”), a fast growing payments solutions company in India . NIIC co-invested with Catamaran Ventures (“Catamaran”), the family office of Mr. Narayana Murthy , co-founder and former CEO of Infosys Ltd., which invests in growing companies in India and overseas.
Innoviti’s technology platform facilitates real-time processing and distribution of credit to small and medium enterprises (SMEs). The platform recently serves a marquee base of merchants counting Reliance, Titan, Indigo, Yatra, Walmart, Sikkim Manipal University and several others. Leading banks such as HDFC, ICICI, Axis, SBI, Standard Chartered, Kotak, Citibank and NBFCs such as Bajaj Finance and others use the platform to distribute loans to customers of these merchants.
Gold Fields Limited operates as a gold mining company. The company engages in the exploration, extraction, processing, and smelting of gold and copper properties. It holds interests in eight operating mines in South Africa, Ghana, Australia, and Peru.
Finally, Eaton Corporation plc (NYSE:ETN), lost - 0.76% Monday.
Power administration company Eaton Corporation plc, declared that operating earnings per share, which exclude charges of $0.02 per share to integrate recent acquisitions, were $1.16 for the second quarter of 2015, up 5 percent over the second quarter of 2014, adjusted for the Aerospace divestitures and the litigation settlements recorded in the second quarter of 2014. Sales in the second quarter of 2015 were $5.4 billion, 7 percent lower than the same period in 2014. Operating earnings for the second quarter of 2015, not taking into account pre-tax charges of $12 million to integrate recent acquisitions, were $543 million.
Alexander M. Cutler, Eaton chairman and chief executive officer, said, “Our second quarter operating earnings per share came in above the midpoint of our guidance for the quarter. Operating earnings per share were up 5 percent over the second quarter of 2014, driven by strong operating margin performance and tightly controlled costs, partially offset by a 5 percent negative impact from currency translation. Without the negative currency impact, our second quarter operating earnings per share would have grown 10 percent.
Eaton Corporation plc operates as a power administration company worldwide. Its Electrical Products segment offers electrical components, industrial components, residential products, wiring devices, and structural support systems, in addition to single phase power quality, emergency lighting, fire detection, circuit protection, and lighting products.
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