During Tuesday’s Current trade, Shares of Quantum Corp (NYSE:QTM), lost -4.85% to $1.57.
Quantum Corp (QTM) has signed a definitive agreement (the “Agreement”) to acquire Columbus Hospital LTACH, LLC (the “LTACH”) http://columbusltach.org/, a company operating a long term acute care hospital in New Jersey (the “Acquisition”).
The LTACH is presently running on a four month unaudited annualized basis of about US$40,000,000 in revenue and about US$13,500,000 of EBITDA. QIIC’s legal counsel engaged independent consultants, Navigant Consulting Inc., to conduct a compliance review which has been accomplished. In addition, an independent external auditor was retained to conduct a financial review of the LTACH, which is ongoing.
Quantum Corporation provides scale-out storage, archive, and data protection solutions for small businesses to major enterprises in the Americas, Europe, and the Asia Pacific. Its scale-out storage and archive products comprise StorNext File System software, which provides file sharing, storage, and archive for content workflows, digital libraries, and data repositories; StorNext Storage Manager software that automatically copies and migrates data between different tiers of storage based on user-defined policies; StorNext appliances that offer predictable file sharing and in purpose-built configurations of metadata controllers, expansion appliances, and disk and archive enabled libraries; and Lattus Object Storage solutions, which enable high volumes of data to be accessible at any time to extract valuable information.
Shares of PPG Industries, Inc. (NYSE:PPG), declined -1.38% to $113.51, during its current trading session.
PPG Industries (PPG) held a meeting for securities analysts in Cabo San Lucas, Mexico. The meeting comprised of presentations by Michael McGarry, PPG president and chief operating officer; and Marcos Achar Levy, PPG vice president, architectural coatings, Latin America, and chief executive officer, PPG-Comex.
During the meeting, PPG reviewed details of PPG-Comex Mexican operations, offered information about the growth of the Mexican economy and PPG-Comex, and toured PPG-Comex concessionaire locations. The company indicated during the meeting it anticipates cost synergies associated with the Comex acquisition to be $45 million to $50 million by the end of 2016, up from the company’s previous guidance of $30 million to $40 million.
PPG also issued new acquisition-related revenue synergy targets for the PPG-Comex acquisition. The company anticipates to generate $40 million to $50 million in revenue within two years from sales of legacy PPG products through the PPG-Comex distribution network. PPG set a separate revenue target of $60 million to $70 million within five years for incremental coatings sales in Central America. PPG had formerly issued no incremental revenue guidance regardingComex.
PPG Industries, Inc. manufactures and distributes coatings, specialty materials, and glass products. The company’s Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; sealants, coatings, maintenance cleaners, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor for specialty applications; and chemical administration services.
Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS), during its Tuesday’s current trading session decreased -1.83% to $3.22.
Sunesis Pharmaceuticals, Inc. (SNSS) declared that Daniel Swisher, Chief Executive Officer of Sunesis, will present at the Cantor Fitzgerald Inaugural Healthcare Conference on Wednesday, July 8th at 9:00 AM Eastern Time at Le Parker Meridien Hotel in New York City.
Sunesis Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers. The company is developing vosaroxin, an anti-cancer quinolone derivative for the treatment of acute myeloid leukemia (AML). It has accomplished a Phase III, randomized, double-blind, and placebo-controlled trial of vosaroxin in combination with cytarabine in patients with relapsed or refractory AML.
Finally, CarMax, Inc (NYSE:KMX), decreased -1.04%, to $65.63.
CarMax, Inc. (KMX) stated record results for the first quarter ended May 31, 2015.
Net sales and operating revenues raised 7.1% to $4.01 billion.
Used unit sales in comparable stores raised 4.9%.
Total used unit sales rose 9.3%.
Total wholesale unit sales raised 4.7%.
CarMax Auto Finance (CAF) income raised 15.3% to $109.1 million.
Net earnings grew 7.3% to $182.0 million. Net earnings per diluted share rose 13.2% to $0.86.
First Quarter Business Performance Review
Sales. Total used vehicle unit sales grew 9.3% and comparable store used unit sales raised 4.9% as compared to the prior year’s first quarter. Comparable store used unit sales benefited from a combination of factors, counting improved conversion and continued growth in customer traffic.
Wholesale vehicle unit sales grew 4.7% as compared to the first quarter of fiscal 2015. Wholesale unit sales benefited from the growth of our store base, partially offset by a decline in our vehicle buy rate.
Other sales and revenues raised 14.3% year-over-year. Extended protection plan revenues rose 12.5% as compared to the prior year’s quarter, primarily due to the growth in our retail unit sales. Net third-party finance fees were relatively flat contrast with last year’s first quarter, reflecting the net effect of changes in mix among providers and the overall enhance in units sold. Vehicles financed by the Tier 3 providers and those comprised of in the CAF loan origination test represented 14.5% of retail unit sales in the current quarter as compared to 16.1% in the corresponding prior year period.
CarMax, Inc., through its auxiliaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, counting domestic and imported vehicles; sells vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and provides extended protection plans to customers at the time of sale. In addition, the company offers reconditioning and vehicle repair services; and provides financing alternatives for retail customers across a range of credit spectrum through its CarMax Auto Finance and arrangements with other financial institutions. .
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