During Thursday’s current trade, Fastenal Company (NASDAQ:FAST)’s shares incline 1.25% to $43.23.
Fastenal Company (FAST) released its sales figures for May, which were lower than April sales.
May net sales rose a marginal 0.3% year over year to $314.4 million compared with $334.5 million last month. In fact, April net sales had risen 6.1% year over year. Daily sales grew 5.3% to $15.72 million, down from 6.1% rise in April. The daily growth rate was much weaker than 13.5% recorded in May last year. Currency had an unfavorable impact of 0.9% in the month, compared with 0.5% negative impact last month.
This industrial and construction supplies wholesale distributor serves customers in the manufacturing and non-residential construction markets. Both the end markets witnessed decelerating growth in the month.
Daily sales to manufacturing customers (representing almost 50% of revenues) grew 4.1%, weaker than a 4.6% enhance in Apr 2015.
Fastenal Company, together with its auxiliaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. The company offers fasteners, and other industrial and construction supplies primarily under the Fastenal name. Its fastener products comprise threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and building projects, in addition to in the maintenance and repair of machines and structures.
Lincoln National Corporation (NYSE:LNC)‘s shares gain 0.02% to $60.28, during the current trading session Thursday’s, hitting its highest level.
Lincoln Financial Group (LNC) declared the next generation of its Lincoln AssetEdge® Variable Universal Life (VUL) insurance offering, featuring expanded investment options for tax-efficient cash accumulation with downside protection, and supplemental income potential, as well as life insurance protection.
In addition to offering clients an income tax-free death benefit and more than 80 market-driven variable investment options from the Lincoln Elite Series of Funds for maximum growth potential, Lincoln AssetEdge® VUL now offers three indexed accounts for moderate growth potential with guaranteed downside protection, and a fixed account for more conservative, predictable growth. Clients have the ability to adjust investment allocations over time to align with changing needs and financial goals.
Lincoln National Corporation, through its auxiliaries, engages in multiple insurance and retirement businesses in the United States. It operates through Annuities, Retirement Plan Services, Life Insurance, and Group Protection segments.
In a mid-morning trade, Huntsman Corporation (NYSE:HUN)‘s shares surge 0.75% to $22.71.
Huntsman Corporation (HUN) declared that Monte Edlund will succeed Stu Monteith as president of Huntsman’s Performance Products division (HPP), effective July 1.
Most recently vice president for the Americas region in Huntsman’s Advanced Materials division, Edlund joined Huntsman with the acquisition of the Rexene Corporation and has been a senior leader with the company since 1997, when he was designated vice president-polymers. Prior to his role in Advanced Materials, Edlund served as vice president of global specialty textiles for Huntsman’s Textile Effects division based in Singapore.
After more than 35 years’ experience in the chemical industry, 21 of them with Huntsman, Monteith elected to retire as of August 31. He joined Huntsman in 1994 and served as the division’s vice president for global markets and business development before being named Performance Products division president in 2011.
Huntsman Corporation, together with its auxiliaries, manufactures and sells differentiated organic and inorganic chemical products worldwide. The company operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives. The Polyurethanes segment offers polyurethane chemicals, counting methyl diphenyl diisocyanate, propylene oxide, polyols, propylene glycol, thermoplastic polyurethane, aniline, and methyl tertiary-butyl ether products, which are used to produce rigid and flexible foams, in addition to coatings, adhesives, sealants, and elastomers.
FMC Technologies, Inc. (NYSE:FTI), during its Thursday’s current trading session -1.34% loss and closed at $42.04.
FMC Technologies, Inc. (FTI) declared the completion of the formation of a joint venture (JV) – Forsys Subsea – wherein the oilfield equipment manufacturer and Technip SA have 50% ownership each.
The JV started operations from Jun 1, 2015. By combining the technology and expertise of the two subsea industry leaders, the joint venture company will be capable of assisting the upstream energy players in efficiently getting their first oil at a minimum cost.
John Gremp − the chairperson, president and chief executive officer of FMC Technologies – revealed that the global market is demanding new sources of crude, generally accessible at the deepwater. But extracting crude from the ocean bed is quite challenging and most expensive. Hence, the exploration and production players will not explore those operations until the cost to pump first oil gets reduced considerably.
Consequently, after using Forsys Subsea’s new technology, the upstream players can enhance their profits by lowering operating costs in this weak crude pricing environment.
FMC Technologies, Inc. provides technology solutions for the energy industry worldwide. The company operates through Subsea Technologies, Surface Technologies, and Energy Infrastructure segments. The Subsea Technologies segment offers subsea systems for the offshore production of crude oil and natural gas; and well access and flow administration services, counting installation and workover tools, service technicians for installation assistance, and field support services.
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