On Wednesday, Lincoln National Corporation (NYSE:LNC)’s shares inclined 4.68% to $49.48.
Tyco (TYC) stated $0.44 in GAAP diluted earnings per share (EPS) from ongoing operations for the fiscal third quarter of 2015 and diluted EPS from ongoing operations before special items of $0.59. Revenue of $2.5 billion in the quarter reduced 6% as compared to the preceding year, primarily due to a 7% negative impact of the stronger U.S. dollar against foreign currencies. Organic revenue declined 1% in the quarter. Acquisitions contributed 2 percentage points of growth, which was partially offset by the impact of a divestiture.
Tyco International Ltd. designs, sells, installs, and services security, fire detection, suppression, and life safety products worldwide. It operates in three segments: North America Installation & Services, Rest of World Installation & Services, and Global Products. Its electronic security systems comprise detection devices; asset protection and security administration systems; anti-theft systems; access control solutions, such as integrated security administration systems, access control solutions applications, alarm administration panels, door controllers, readers, keypads, and cards; video system solutions, such as digital video administration systems, matrix switchers and controllers, digital multiplexers, programmable cameras, monitors, and liquid crystal interactive displays; and burglar alarms and interactive security systems, such as alarm control panels, keypads, sensors, and central station receiving equipment for homes and businesses.
International Paper Co (NYSE:IP)’s shares gained 3.27% to $42.01.
International Paper (IP) Chairman and Chief Executive Officer Mark S. Sutton, will speak at the UBS Global Paper and Forest Products Conference on September 10, 2015, in New York City. The presentation is planned to start at 9:00 a.m. ET, followed by a question and answer session. All interested parties are invited to view the presentation and/or listen to the webcast live via International Paper’s Internet site http://www.internationalpaper.com by clicking on the “Investors” tab and then clicking on the “Webcasts & Presentations” link. A replay of the webcast will be accessible on the website about three hours after the presentation.
International Paper Company operates as a paper and packaging company in North America, Europe, Latin America, Russia, Asia, Africa, and the Middle East. The company operates through three segments: Industrial Packaging, Printing Papers, and Consumer Packaging. The Industrial Packaging segment manufactures containerboards, counting linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft. The Printing Papers segment produces printing and writing papers, such as uncoated papers for end use applications, counting brochures, pamphlets, greeting cards, books, annual reports, and direct mail, in addition to envelopes, tablets, business forms, and file folders. This segment sells uncoated papers under the Hammermill, Springhill, Williamsburg, Postmark, Accent, Great White, Chamex, Ballet, Rey, Pol, and Svetocopy brand names.
At the end of Wednesday’s trade, Authentidate Holding Corp. (NASDAQ:ADAT)‘s shares surged 20.69% to $0.350.
Authentidate Holding Corp. (ADAT), a provider of secure web-based revenue cycle administration applications and telehealth products and services for healthcare organizations, and Peachstate Health Administration, LLC d/b/a AEON Clinical Laboratories, an expanding clinical laboratory based in Gainesville, GA (“AEON”), recently declared that the companies have reached a non-binding letter of intent (the “Letter of Intent”) for the acquisition of all of the outstanding membership interests of AEON in exchange for shares of a newly created class of Series E Preferred Stock of Authentidate (the “Series E Shares”).
The Letter of Intent contemplates the AEON members will be issued such number of Series E Shares as shall be convertible into 19.9% of the outstanding shares of the Company’s Common Stock on the date of the closing of the merger transaction, and an additional 5% of the outstanding shares of the Company’s Common Stock upon approval of the merger transaction by the shareholders of the Company. Additional Series E Shares will be issued to AEON members in 2016 and 2020 if AEON achieves certain financial results. The additional 2016 Series E Shares will be convertible into 24% of the outstanding shares of the Company’s Common Stock on the date of the closing and will be issued to the AEON members offered AEON achieves $16 million of EBITDA in calendar year 2015. The AEON members will be issued another tranche of Series E Shares in 2020 which, counting the formerly issued Series E Shares, will be convertible into 85% of the outstanding shares of the Company’s Common Stock (on a partially diluted basis) offered AEON achieves $65.9 million in EBITDA, in the aggregate, in calendar years 2017 and 2018, or $99 million in EBITDA, in the aggregate, for calendar years 2016, 2017 and 2018. The Letter of Intent also provides for the issuance of Series E Shares as bonus shares for the achievement of $117 million in net income for the four fiscal years ending December 31, 2019, convertible into 5% of the outstanding shares of the Company’s Common Stock (on a partially diluted basis). The holders of the Series E Shares will have certain preferential rights, counting the right to vote separately as a class to nominate and elect one director for each 10% of the outstanding shares of Authentidate’s Common Stock into which the outstanding Series E Shares shall be convertible.
Authentidate Holding Corp. provides Web-based software applications, and telehealth products and services in the United States. The company offers Inscrybe Healthcare, a secure Web-based workflow automation solution that enables healthcare industry participants to exchange and track various documents, certificates, authorizations, and other information in various modes of communication, such as electronic and fax delivery; Inscrybe Office, a Web-based service to sign, seal, and confirm receipt of documents over the Web for business or personal use; and AuthentiProof, a content integrity and time-and-date stamp application to verify the authenticity of a document or file sent electronically.
Pioneer Natural Resources (NYSE:PXD), ended its Wednesday’s trading session with 1.49% gain, and closed at $108.84.
Pioneer Natural Resources Company (PXD) declared financial and operating results for the quarter ended June 30, 2015.
Pioneer stated a second quarter net loss attributable to common stockholders of $218 million, or $1.46 per diluted share. Without the effect of noncash derivative mark-to-market losses and other unusual items, adjusted income for the second quarter was $15 million after tax, or $0.10 per diluted share.
Second quarter and other recent highlights comprised of:
- producing 197 thousand barrels oil equivalent per day (MBOEPD) in the second quarter, of which 51% was oil; second quarter production reflected strong Spraberry/Wolfcamp production growth driven by Pioneer’s successful horizontal drilling program partially offset by lower-than-predictable production in the Eagle Ford Shale and the West Panhandle field;
- maintaining a production growth forecast for 2015 of 10%+, reflecting an enhance in forecasted Spraberry/Wolfcamp production growth from 20%+ to 22% to 24% offset by a reduction in the full-year growth rate for the Eagle Ford Shale;
Pioneer Natural Resources Company engages in the exploration and production of oil and gas in the United States. The company produces and sells oil, natural gas liquids (NGLs), and gas. It has operations primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeastern Colorado, and the West Panhandle field in the Texas Panhandle.
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