On Tuesday, Following U.S. Stocks were among the “Top Losers”: NN Inc. (NASDAQ:NNBR), Inventergy Global, Inc. (NASDAQ:INVT), xG Technology, Inc. (NASDAQ:XGTI), Barnes & Noble, Inc. (NYSE:BKS)
- NN Inc. (NASDAQ:NNBR)’s with shares dwindled -26.41%, closed at $19.73.
- Inventergy Global, Inc. (NASDAQ:INVT), with shares declined -10%, settled at $0.72.
- xG Technology, Inc. (NASDAQ:XGTI), with shares dipped -17.14%, and closed at $0.31, hitting new 52-week low of $0.29.
- Barnes & Noble, Inc. (NYSE:BKS), dropped -10.06%, and closed at $22.36.
Latest NEWS regarding these Stocks are depicted underneath:
NN Inc. (NASDAQ:NNBR):
NN Inc. (NNBR), a diversified industrial corporation, stated its financial results for the fourth quarter and twelve months ended December 31, 2014.
Full Year 2014 Results:
Net sales for full year 2014 raised $115.4 million, or 31% to $488.6 million, contrast to net sales of $373.2 million for full year 2013. This comprised of about $101.0 million in net sales from the four attainments made during 2014. Adjusted revenue from operations for the twelve months ended December 31, 2014 raised $11.5 million or 40% to $39.9 million, contrast to $28.4 million for the same period in 2013. Adjusted net revenue for the year 2014 was $23.5 million, or $1.29 per diluted share, contrast to adjusted net revenue of $17.7 million, or $1.03 per diluted share for the year 2013.
The primary drivers behind these results were the four attainments, organic and adjacent market growth coupled with improved operating performance.
Stated revenue from operations for the year 2014 was $27.7 million counting $12.2 million in charges related to the four attainments made during the year, contrast to $27.8 million for the year 2013. Stated net revenue for full year 2014 was $8.2 million or $0.45 per diluted share which comprised of $15.3 million in attainment, integration, impairment expenses and foreign exchange losses on intercorporation loans. This compares to $17.2 million or $1.00 per diluted share for the year 2013.
Richard Holder, President and Chief Executive Officer, commented, “2014 was a transformative year for NN. We emerged a new and revitalized corporation with a larger, more diverse portfolio which opens up new end markets and opportunities for growth into the future. During the fourth quarter, we witnessed the first full quarter of sales and operating results from the four businesses we attained during 2014.
NN, Inc., a diversified industrial corporation manufactures and supplies high precision metal bearing components, industrial plastic and rubber products and precision metal components to a variety of markets on a global basis. Headquartered in Johnson City, Tennessee, NN has 25 manufacturing plants in the United States, Western Europe, Eastern Europe, South America and China.
Inventergy Global, Inc. (NASDAQ:INVT)
Inventergy Global, Inc. (INVT), declared that it has launched a collaborative new Mobile User Device licensing initiative for its 3G/LTE mobility patent portfolio, providing standardized rates and terms to mobile equipment manufacturers. The portfolio comprises Standards Essential Patents (SEPs); that is, patents covering technologies that must be used to comply with a technical standard.
Inventergy attained over 500 patent assets in Mobile Broadband (3G-LTE) Technologies from Panasonic, a global leader in telecommunications and consumer electronics.
Inventergy’s Mobile User Device Portfolio comprises at least 34 mobile broadband patent families, compriseing of nearly 350 patents having claims directed to mobile end user devices, such as mobile phones, tablets, PCs, modems and mobile hotspots. Inventergy believes at least 15 patent families in this portfolio, comprising of at least 189 patents, contain SEPs covering 3G and LTE communications functionality in end user devices. Such User Device SEPs would generally be subject to fair, reasonable, and non-discriminatory (FRAND) licensing which Inventergy is honoring through its Mobile User Device licensing program.
According to the International Data Corporation (IDC), the worldwide market for mobile handsets is projected to reach over 1 billion worldwide units sold in 2015 and nearly 10 billion cumulatively over the next five years.
Inventergy is actively engaged with a number of companies in various market segments. On February 12, 2015, Inventergy declared a $2 million license arrangement with a mid-tier telecommunication corporation in its IMS/VoIP infrastructure segment.
Inventergy Global, Inc. is Silicon Valley-based intellectual property corporation dedicated to identifying, acquiring and licensing the patented technologies of market-noteworthy technology leaders.
xG Technology, Inc. (NASDAQ:XGTI)
Formerly on February 26, xG Technology, Inc. (XGTI), a developer of patented wireless communications and spectrum sharing technologies, declared that, effective March 1, 2015, it will implement cost reduction initiatives that will comprise a decrease in the Corporation’s current full, part-time and contracted workforce. These initiatives will result in a reduction in monthly operating expenses to about $800,000 — an improvement of over 30 percent.
George Schmitt, CEO and Board Chairman of xG Technology, said, “These cost-cutting initiatives will reduce our costs by over 30 percent through a combination of both personnel and other expense reductions, which will right-size our operations. The reduction of staff is always painful, and we would like to express our sincere appreciation to our affected employees for their contributions to xG Technology. We are confident that we have retained an excellent team that is capable of effectively moving xG forward while maintaining our tradition of innovation and product development in cutting-edge wireless solutions.”
The Corporation also declared that it has secured $1.8 million in new funding through the execution of a stock purchase contract with institutional investors, following the Corporation’s current shelf registration statement.
xG Technology has created a broad portfolio of intellectual property that makes wireless networks more intelligent, accessible, affordable and reliable. The corporation has created xMax, a patented all-IP cognitive radio technology that enables robust mobile broadband communications for private, consumer and government networks.
Barnes & Noble, Inc. (NYSE:BKS)
Barnes & Noble, Inc. (BKS), stated sales and earnings for its fiscal 2015 third quarter ended January 31, 2015.
Third quarter merged proceeds of $1.96 billion declined $35 million as contrast to the preceding year. Third quarter merged earnings before interest, taxes, depreciation and amortization (EBITDA) raised 14% as contrast to the preceding year to $197 million.
Third Quarter 2015 Results from Retail Operation:
The Retail segment, which comprises the Barnes & Noble bookstores and BN.com, had proceeds of $1.4 billion for the quarter, decreasing 1.0% as contrast to the preceding year. The sales decrease was primarily attributable to lower sales of NOOK products, leading to a comparable store sales decline of 0.3% for the quarter, in addition to store closures. “Core” comparable store sales, which exclude sales of NOOK products, raised 1.7% for the quarter on higher sales of both book and non-book core categories.
Retail generated EBITDA of $199 million in the quarter, essentially flat as contrast to a year ago. Retail EBITDA benefitted from a higher mix of higher margin core products and lower core product markdowns, which was offset by the formerly revealed charge of $7 million regarding the termination of the Corporation’s pension plan.
Merged Results:
Merged third quarter net earnings were $72 million, or $0.93 per share, contrast to net earnings of $63 million, or $0.86 per share, in the preceding year.
Barnes & Noble, Inc. (BKS) is a Fortune 500 corporation and the leading retailer of content, digital media and educational products. The Corporation operates 649 Barnes & Noble bookstores in 50 states, and one of the Web’s largest e-commerce sites, BN.com (www.bn.com).
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