On Thursday, Shares of Intel Corporation (NASDAQ:INTC), gained 0.25% to $31.99.
Intel Corporation, and Honeywell International Inc. (HON) are partnering up to integrate a platform that will assist protect businesses from being the targets of future hacks.
Both companies declared that they will collaborate to bolster protection of critical industrial infrastructure and the Industrial Internet of Things (IoT). Basically, Intel’s McAfee technologies will be integrated with Honeywell’s Industrial Cyber Security Solutions. The end aim is to provide Honeywell customers with improved security software to protect their control systems from malware and misuse.
Ultimately, this partnership between Intel Security and HPS will combine advances in cybersecurity technology with Honeywell’s unique industrial process domain knowledge to provide tailored security solutions for the industrial environment.
Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. It operates through PC Client Group, Data Center Group, Internet of Things Group, Mobile and Communications Group, Software and Services, and All Other segments.
Shares of Methode Electronics, Inc. (NYSE:MEI), declined -27.14% to $31.38, during its last trading session, hitting its lowest level.
Methode Electronics, declared financial results for the Fiscal 2015 fourth quarter and year ended May 2, 2015.
Fourth-Quarter Fiscal 2015
Methode’s fourth-quarter Fiscal 2015 net sales grew $2.4 million, or 1.1 percent, to $227.3 million from $224.9 million in the same quarter of Fiscal 2014. Year over year, in the fourth quarter of Fiscal 2015, the strengthening of the US dollar contrast to the Euro had the effect of reducing net sales by $7.5 million, or 3.2 percent.
Net income reduced $21.5 million to $26.6 million, or $0.68 per share, in the fourth quarter of Fiscal 2015 from $48.1 million, or $1.25 per share, in the same period of Fiscal 2014.
Year over year, fourth-quarter Fiscal 2015 net income benefitted from:
- higher sales volumes in the Automotive and Power Products segments;
- raised manufacturing efficiencies in the Automotive segment; and
- the pre-tax gain on the sale of the assets of Trace Laboratories of $7.7 million.
Year over year, fourth-quarter Fiscal 2015 net income was negatively affected by:
- lower income tax benefit of $20.5 million;
- higher impairment of pre-tax goodwill and intangible asset charges of $9.4 million;
- higher compensation expense of $4.0 million, counting $2.5 million related to long-term incentive plan compensation due to stock appreciation;
- pricing concessions in the Automotive segment of $6.6 million;
- the absence of the gain on the Fiscal 2014 sale of the Company’s Lumidigm investment of $3.2 million; and
- higher travel and other general expenses of $1.1 million.
Methode Electronics, Inc. designs, manufactures, and markets components and subsystem devices worldwide. Its Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.
Finally, Teck Resources Limited (NYSE:TCK), ended its last trade with -4.90% loss, and closed at $10.67.
Teck Resources Limited, stated that unpredictable ground movement has been observed in the area of the SX-EW plant at its Quebrada Blanca Operations in Chile. As a precautionary measure cathode production has been suspended and appropriate authorities have been notified. The duration of the production interruption and the impact on production are unknown at this time.
We are presently investigating the cause of the ground movement. The preliminary investigation is predictable to take at least a week. Mine operations not affected by the SX-EW plant are ongoing at this time.
Teck Resources Limited explores, develops, and produces natural resources in the Americas, the Asia Pacific, Europe, and Africa. Its principal products comprise copper, counting copper concentrates and cathode copper; steelmaking coal; and refined zinc and zinc concentrates.
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