During Tuesday’s Morning trade, Shares of Nike Inc (NYSE:NKE), lost -0.53% to $131.76.
NIKE, declared that its Board of Directors approved a new four-year, $12 billion program to repurchase shares of NIKE’s Class B Common Stock. The Company anticipates that the current $8 billion share repurchase program will be accomplished before the end of fiscal 2016, and the new program will commence upon the completion of the current program.
Repurchases under the Company’s new program will be made in open market or privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements, and other relevant factors. This share repurchase plan does not obligate the Company to acquire any particular amount of common stock, and it may be suspended at any time at the Company’s discretion. NIKE had about 678 million shares of Class B Common Stock outstanding as of November 16, 2015.
“In a growing sports industry, NIKE is the clear leader,” said Mark Parker, President and CEO of NIKE, Inc. “We are built for growth, while also staying committed to creating shareholder value over the long term. We’ve proven it time and again, having returned over $23 billion to shareholders over the last 14 years through share repurchases and dividends. Moving forward, we see even greater potential for NIKE as we continue to unlock new markets, new experiences and new products.”
NIKE, Inc., together with its auxiliaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories for men, women, and kids worldwide. The company offers products in eight categories, counting running, basketball, football, men’s training, women’s training, sportswear, action sports, and golf under the NIKE and Jordan brand names.
Shares of Jumei International Holding Ltd (ADR) (NYSE:JMEI), declined -1.39% to $8.51, during its current trading session.
Jumei International Holding Limited, stated its unaudited financial results for the third quarter ended September 30, 2015. The Company will host a conference call to discuss the results at 8:00 AM U.S. Eastern Standard Time on November 20, 2015 (9:00 PM China time on the same day).
Third Quarter 2015 Highlights
- Net revenues raised by 99.9% year-over-year to RMB1.9 billion (US $305.5 million).
- Total net GMV raised by 35.6% year-over-year to RMB2.3 billion (US$358.7 million), driven primarily by a 30.8% year-over-year improvement in the number of active customers and a noteworthy89.5% year-over-year improvement in total orders.
- Gross profit as a percentage of net revenues reduced to 26.2% from 38.0% in the same period of 2014. Gross profit as a percentage of total net GMV raised slightly to 22.3% from 21.9% in the same period of 2014. The improvement was primarily due to the Company’s shift in strategy from beauty product marketplace sales to merchandise sales that started in September 2014, and inventory optimization activities for Jumei Global.
- Net loss attributable to Jumei’s ordinary shareholders was RMB86.9 million (US$13.7 million), contrast with net income attributable to Jumei’s ordinary shareholders of RMB120.0 million in the same period of 2014. Net margin attributable to Jumei’s ordinary shareholders was negative 4.5%, contrast with positive 12.4% in the same period of 2014.
- Non-GAAP net loss attributable to Jumei’s ordinary shareholders was RMB77.4 million (US$12.2 million), contrast with non-GAAP net income attributable to Jumei’s ordinary shareholders of RMB129.3 million in the same period of 2014. Non-GAAP net margin attributable to Jumei’s ordinary shareholders was negative 4.0%, contrast with positive 13.3% in the same period of 2014.
Jumei International Holding Limited operates as an online retailer of beauty products in the People’s Republic of China. The company offers beauty products, such as cosmetics, skin care, cosmetic applicators, fragrance, and body care products; and beauty products for men, and baby and children.
Finally, Shares of Seagate Technology PLC (NASDAQ:STX), lost -1.95%, and is now trading at $34.04.
Reduxio Systems, declared the release of the Reduxio Storage Manager (RSM) for VMware vSphere. RSM enables VMware customers to use Reduxio’s HX 550 Flash Hybrid storage system’s Back Dating mechanism to instantly clone and recover Virtual Machines (VMs) and data stores at the granularity of one second directly from VMware v Center. Obsoleting snapshots, Back Dating with RSM for VMware v Sphere reduces recovery time from hours to seconds, simplifies data protection administration, and eliminates excessive overhead associated with conventional snapshot technologies for VMware customers.
With Back Dating, when a data store or a VM has an issue, VMware customers can clone or revert the data store to the second before the issue occurred. Backdating also offers the smallest recovery window for a virtualization environment.
“Back Dating provides automatic consistency, which makes it possible to recover complex environments across data stores with no upfront configuration,” said Mark Weiner, Reduxio’s CEO and co-founder. “These capabilities, combined with our flash hybrid storage system’s innovative deduplication, compression and tiering, deliver breakthrough storage efficiency and performance — and not just for VMware, but also for datacenter applications from Microsoft®, Oracle® and other major software providers.”
Reduxio is backed by Seagate Technology PLC (NASDAQ: STX), a world leader in storage solutions, Jerusalem Venture Partners (JVP), Carmel Ventures and Intel Capital.
Seagate Technology Public Limited Company designs, manufactures, and sells electronic data storage products in the Asia Pacific, the Americas, and EMEA countries. It provides hard disk drives, solid state hybrid drives, solid state drives, PCIe cards, and serial advanced technology architecture controllers that are designed for enterprise servers and storage systems in mission critical and nearline applications; for client compute applications comprising desktop and mobile computing; and for client non-compute applications, such as digital video recorders, personal data backup systems, portable external storage systems, digital media systems, and surveillance systems.