On Wednesday, QEP Resources Inc (NYSE:QEP)’s shares declined -1.30% to $12.88.
QEP Resources, Inc. (QEP) stated second quarter 2015 financial and operating results. The Company stated a net loss from ongoing operations of $76.3 million, or $0.43 per diluted share, for the second quarter 2015 contrast with a net loss from ongoing operations of $106.1 million, or $0.59 per diluted share, in the second quarter 2014.
Net income or loss comprises non-cash gains and losses associated with the change in the fair value of derivative instruments, gains and losses from asset sales, a non-cash pension curtailment expense and impairment charges. Not taking into account these items, the Company’s second quarter 2015 Adjusted Net Income (a non-GAAP measure) was $16.0 million, or $0.09 per diluted share, contrast with Adjusted Net Income from ongoing operations of $54.1 million, or $0.30 per diluted share, for the comparable 2014 period. The decrease in Adjusted Net Income was due primarily to significantly lower average field-level prices for crude oil, natural gas and NGL, partially offset by higher crude oil volumes, lower production taxes and higher proceeds from realized commodity derivatives.
QEP Resources, Inc., through its auxiliaries, operates as an exploration and production company. The company acquires, explores, develops, and produces natural gas, oil, and natural gas liquids (NGLs) primarily in the Pinedale Anticline in western Wyoming; the Williston Basin in North Dakota; the Uinta Basin in eastern Utah; the Permian Basin in western Texas; the Haynesville/Cotton Valley in northwestern Louisiana; and other proven properties in Wyoming, Utah, and Colorado.
Invesco Ltd. (NYSE:IVZ)’s shares gained 0.15% to $32.96.
Invesco Canada has declared a change to the risk rating on three of its funds.
The updated risk ratings provide investors with a more accurate description of the risk profiles they can expect from these three investment options. The new risk ratings do not reflect any changes to the investment objectives, investment strategies or administration of these funds.
Commissions, trailing commissions, administration fees and expenses may all be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the simplified prospectus before investing. Copies are accessible from your advisor or Invesco Canada Ltd.
Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds. It manages separate client focused equity, balanced, and fixed income portfolios. The firm also launches equity, fixed income, commodity, multi-asset, and balanced mutual funds for its clients.
At the end of Wednesday’s trade, Cadence Design Systems Inc (NASDAQ:CDNS)‘s shares surged 1.06% to $19.93.
Cadence Design Systems Inc (CDNS) and Applied Materials, Inc. (AMAT) recently declared the companies are collaborating on a development program to optimize the chemical-mechanical planarization (CMP) process through silicon characterization and modeling for advanced-node designs at 14 nanometer (nm) and below. The program allows design teams to predict the impact of CMP on both functional yield and parametric yield, and for manufacturing teams to boost planarization performance, which is increasingly critical for advanced FinFET architectures.
The Cadence® and Applied Materials joint development program is focused on front end-of-line (FEOL) and wafer-level CMP modeling. Applied Materials can use the Cadence CMP Process Optimizer, a tool that allows silicon calibration of semi-physical models and optimization of CMP material and process parameters such as pressure, polish time and overall CMP uniformity, to enhance the precision performance of its Reflexion® LK Prime™ CMP system.
Cadence Design Systems, Inc. develops, sells, leases, and licenses electronic design automation (EDA) software, emulation and prototyping hardware, verification intellectual property (VIP), and design intellectual property (design IP) for semiconductor and electronics systems industries worldwide.
Platform Specialty Products Corp (NYSE:PAH), ended its Wednesday’s trading session with 0.71% gain, and closed at $18.34.
Platform Specialty Products Corporation (PAH) a global, diversified specialty chemicals company, declared its financial results for the three and six months ended June 30, 2015.
For the three months ended June 30, 2015:
- Net sales for the second quarter 2015 were $675 million, an enhance of 257% contrast to $189 million in the second quarter of 2014.
- Performance Applications segment: Sales were $182 million, a decline of 4.0% from $189 million in the second quarter of 2014. On a constant currency basis, sales for this segment grew 4.5%.
- Agricultural Solutions segment: Sales were $494 million, a 17.2% decline from $596 million of pro forma as adjusted sales in the second quarter of 2014. On a constant currency basis, pro forma as adjusted sales grew 1.9%.
- Total constant currency sales for the quarter were $690 million, an enhance of 2.5% from second quarter 2014 pro forma constant currency sales of $672 million.
Adjusted EBITDA for the second quarter 2015 was $168 million, an enhance of 248% contrast to $48 million from the year-preceding period.
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, Asia, and Europe. The company’s Performance Materials segment manufactures and markets plating products that are used to plate holes; final finishes, which are used on printed circuit boards; circuit formation products to promote adhesion and form circuit patterns; oxides that are used in the fabrication of multilayer circuit boards; and pre-treatment and cleaning solutions.
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