On Tuesday, Harman International Industries Inc./DE/ (NYSE:HAR)’s shares inclined 1.69% to $93.34.
HARMAN International Industries, Incorporated (HAR), the premier connected technologies company for automotive, consumer and enterprise markets, recently launched a refresh of its corporate brand, unveiling a new logo and new division names. HARMAN’s new logo represents the Company’s mission to enable seamless, connected lifestyles for the home, car, stage and enterprise through its leading audio products, infotainment systems, software and connected services.
For nearly 70 years, HARMAN and its iconic brands have delivered innovative products and technologies for homes, automobiles, recording studios and venues across the world, growing from an audio pioneer into a broader connected technology partner. With a legacy of designing industry first audio technologies, the Company expanded its presence in the car by becoming a leader in automotive infotainment, developing some of the earliest technologies for navigation, connectivity and safety and security solutions. Recently, HARMAN is the partner of choice for global auto manufacturers with a presence in 80 percent of the luxury cars on the road and supplying nine of the top 15 automakers. In 2015, recognizing the increasing role of software and services in the markets it served, HARMAN expanded its capabilities around cloud, mobility and analytics with the recent acquisitions of Symphony Teleca and Redbend, the emerging de fact standard for over-the-air (OTA) updates and an essential part of cyber security solutions. With these additions, HARMAN transformed itself into a connected technologies company poised to leverage the Internet of Things.
Memorial Production Partners LP (NASDAQ:MEMP)’s shares gained 3.92% to $5.83.
Memorial Production Partners LP (MEMP) declared its operating and financial results for the three and six months ended June 30, 2015. In addition, MEMP offered an update of its commodity hedge positions presented in the Hedge Summary table below together with updated 2015 guidance.
Key Highlights
- Average daily production raised 10% to 247.8 MMcfe for the second quarter 2015, contrast to 224.8 MMcfe for the second quarter 2014.
- Revolver availability of about $642 million as of July 31, 2015.
- Strong commodity hedge portfolio with 85% of current predictable total production hedged in 2015, 84% in 2016, 70% in 2017, 64% in 2018 and 49% in 2019.
- Mark-to-market hedge book value of about $609 million as of July 31, 2015. All of MEMP’s current hedges are costless, fixed price swaps and collars.
Memorial Production Partners LP, through its partner, engages in the acquisition, development, exploitation, and production of oil and natural gas properties. Its properties comprise of operated and non-operated working interests in producing and undeveloped leasehold acreage, and working interests in identified producing wells located in Texas, Louisiana, Colorado, Wyoming, New Mexico, and offshore Southern California. As of December 31, 2014, its total estimated proved reserves were about 1,454 billion cubic feet of natural gas equivalent. Memorial Production Partners GP LLC serves as the general partner of Memorial Production Partners LP.
At the end of Tuesday’s trade, Olin Corporation (NYSE:OLN)‘s shares dipped -2.49% to $18.77.
Olin Corporation (OLN) declared that its second quarter 2015 income from ongoing operations was $42.3 million, or $0.54 per diluted share, which compares to income from ongoing operations of $36.6 million, or $0.46 per diluted share in the second quarter of 2014. Sales in the second quarter of 2015 were $535.4 million contrast to $570.4 million in the second quarter of 2014.
Second quarter 2015 results comprised of a pretax gain of $52.2 million related to property damage and business interruption insurance recoveries resulting from the June 2014 incident at one of the two chlor alkali production units at our Becancour, Canada facility. Second quarter 2015 results also comprised of pretax acquisition-related financing and other costs of $22.1 million, raised legacy environmental costs of $3.9 million and pretax restructuring charges of $0.7 million.
Olin Corporation manufactures and sells chlor alkali products in the United States and internationally. The company operates through three segments: Chlor Alkali Products, Chemical Distribution, and Winchester. The Chlor Alkali Products segment provides chlorine/caustic soda that is used in pulp and paper processing, chemical manufacturing, and water purification, in addition to in the manufacture of vinyl chloride, bleach, swimming pool chemicals, and urethane chemicals; sodium hypochlorite for use in household cleaners, laundry bleaching, swimming pool sanitizers, semiconductors, water treatment, textile, pulp and paper, and food processing; and hydrogen used in fuel source, hydrogen peroxide, and hydrochloric acid.
PMC-Sierra Inc (NASDAQ:PMCS), ended its Tuesday’s trading session with -2.10% loss, and closed at $5.84.
PMC-Sierra, Inc. (PMCS), the semiconductor and software solutions innovator transforming netoperates that connect, move and store big data, recently stated results for the second quarter ended June 27, 2015.
Net revenues in the second quarter of 2015 totaled $124.8 million, a decrease of 1.6 percent, contrast to $126.8 million in the second quarter of 2014, and a decrease of 6.2 percent from $133.1 million in the first quarter of 2015.
GAAP net loss in the second quarter of 2015 totaled $8.6 million or $0.04 per share, contrast to GAAP net loss in the second quarter of 2014 of $3.5 million or $0.02 per share, and GAAP net income in the first quarter of 2015 of $4.7 million or $0.02 per diluted share.
Non-GAAP net income in the second quarter of 2015 totaled $18.0 million or $0.09 per diluted share, contrast to non-GAAP net income in the second quarter of 2014 of $18.3 million or $0.09 per diluted share, and to non-GAAP net income in the first quarter of 2015 of $20.9 million or $0.10 per diluted share.
PMC-Sierra, Inc. designs, develops, markets, and supports semiconductor solutions for communications network infrastructure equipment worldwide. Its semiconductor devices enable networking equipment primarily in three markets, counting storage, optical, and mobile netoperates.
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