On Thursday, Shares of Broadcom Corporation (NASDAQ:BRCM), lost -3.13% to $51.00.
Broadcom Corporation, declared its next-generation BroadR-Reach automotive Ethernet switch portfolio with integrated PHYs for automotive central gateway, Advanced Driver Assistance Systems(ADAS), infotainment, head units and time-sensitive applications. The new 28 nm devices utilize a unique design that delivers 30 percent power savings to provide the industry’s lowest power automotive switch solution. For more news, visit Broadcom’s Newsroom.
The dramatic rise of in-car applications has led to an improvement in demand for bandwidth, creating strain on the car’s network. Through the use of Broadcom’s high-performance BroadR-Reach Ethernet technology, automotive manufacturers not only address bandwidth concerns but also ensure compliance with the latest standards and enable a secure network. Serving as the car’s network gateway, wired Ethernet connectivity provides device authentication to protect the car from malicious attacks, eavesdropping and the installation of non-approved devices. Additionally, Broadcom’s new BCM8953x family creates a centralized switch that brings together formerly standalone connections such as back-up camera, instrumentation, audio and video streaming to share data across various applications and improve the user experience.
Broadcom Corporation (Broadcom) provides semiconductor solutions for wired and wireless communications. The Company offers a portfolio of system-on-a-chip solutions (SoCs) that deliver voice, video, data and multimedia connectivity in the home, office and mobile environments. The Company’s solutions are used globally by manufacturers and are embedded in an array of communications products.
Shares of Marathon Petroleum Corp (NYSE:MPC), inclined 2.85% to $51.26, during its last trading session.
Marathon Petroleum Corp, stated third-quarter 2015 net income attributable to MPLX of $41.5 million, or $0.41 per common limited partner unit, contrast with $29.1 million, or $0.37 per common limited partner unit, for the third quarter of 2014. Third-quarter 2015 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) attributable to MPLX were $64.6 million and distributable cash flow attributable to MPLX was $52.5 million.
As declared on Oct. 20, the board of directors of MPLX`s general partner declared a distribution of $0.47 per common unit. This represents an improvement of $0.03 per unit, or 6.8 percent, over the second-quarter 2015 distribution and an improvement of $0.1125 per unit, or 31.5 percent, over the third-quarter 2014 distribution. Since the partnership`s initial public offering in October 2012, the MPLX board has authorized distribution improvements for 11 successive quarters, representing a compound annual growth rate of 23.6 percent over the minimum quarterly distribution established at the partnership`s formation.
“Our strong earnings in the third quarter supported a distribution representing a 31.5 percent improvement over the third quarter of last year,” said MPLX Chairman and CEO Gary R. Heminger. “We continue to execute our strategy of accelerating the growth of the partnership and providing our unitholders an attractive distribution growth profile over an extended period of time.”
Marathon Petroleum Corporation (MPC) is engaged petroleum product refining, marketing, retail and transportation businesses. It has three segments: Refining & Marketing, which refines crude oil and other feedstocks at its seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products; Speedway, which sells transportation fuels and convenience products in the retail market in the Midwest, East Coast and Southeast, and Pipeline Transportation, which transports crude oil and other feedstocks to its refineries and other locations, delivers refined products to wholesale and retail market areas and comprises the aggregated operations of MPLX LP.
Finally, Shares of Rent-A-Center Inc (NASDAQ:RCII), ended its last trade with 4.02% gain, and closed at $18.61.
Rent-A-Center, Inc. declared results for the quarter ended September 30, 2015.
Highlights on the quarter comprise the following:
- On a GAAP basis, loss per diluted share was $0.08 in the third quarter contrast to earnings of $0.49 for the third quarter of the preceding year, due primarily to the $34.7 million write-down of smartphones as talked about below
- Earnings per diluted share, not taking into account special items, was $0.47 contrast to $0.50 for the third quarter of the preceding year (see non-GAAP reconciliation below)
- Merged total revenues raised 3.6 percent to $791.6 million and same store sales raised 5.2 percent over the preceding year
- Acceptance Now same store sales raised 24.5 percent, driven by the continued ramp-up of existing locations and the introduction of 90 day option pricing. During the third quarter, 30 Acceptance Now staffed locations and 208 direct locations were opened, 18 staffed locations were merged with existing locations, and three staffed locations were converted to direct locations.
- Core U.S. same store sales reduced by 0.2 percent, representing an improvement of 340 basis points contrast to preceding year. Since the first quarter of 2014, the two-year same store sales comp has improved by 1,100 basis points. The improvement is primarily due to the new smartphone product category and higher merchandise sales, offset by headwinds in oil industry affected markets and continued pressure in the computers and tablets category.
Rent-A-Center, Inc. is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (counting tablets and smartphones), furniture and accessories, under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.