On Tuesday, International Business Machines Corp. (NYSE:IBM)’s shares declined -0.76% to $155.56.
IBM ( IBM) and Hootsuite declared plans to integrate several of their respective cloud and social technologies in addition to expertise, to provide Hootsuite clients a fast and reliable social experience.
Hootsuite will migrate its popular App Directory to IBM Cloud’s Infrastructure as a Service, SoftLayer. The Hootsuite App Directory is a collection of extensions and applications that business professionals add to their Hootsuite dashboard to create custom views of the social outlets and metrics most important to them.
To provide reliability and speed for a global customer base, Hootsuite requires high-performance computing on a platform that is both stable and scalable. By running App Directory on the IBM Cloud, Hootsuite will be able to provide clients a dedicated, scalable infrastructure with an easy-to-use toolkit for provisioning and administration.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support. Its Global Business Services segment offers consulting and systems integration services for strategy and transformation, application innovation services, enterprise applications, and smarter analytics; and application administration, maintenance, and support services.
Sothebys (NYSE:BID)’s shares dropped -3.10% to $37.52.
Sotheby’s (BID) stated financial results for the second quarter and six months ended 30 June 2015.
For the three and six months ended 30 June 2015, Sotheby’s stated total revenues of $332.0 million and $487.7 million, respectively, a decrease of 1% in both periods as contrast to the preceding year. This slight decline is largely due to a change in the timing of the summer evening sale of Contemporary Art in London, which was held in the third quarter in 2015 after being held in the second quarter in 2014, in addition to unfavorable movements in foreign currency exchange rates which contributed $12.4 million and $20.5 million to the overall decreases in total revenues for the second quarter and first half periods, respectively. Total revenues not taking into account the impact of foreign currency exchange rate changes* raised by $8.6 million (3%) and $15.5 million (3%), for the three and six month periods, respectively.
For the three and six months ended 30 June 2015, Adjusted Operating Income* of $125.5 million and $147.7 million, respectively, reduced by $23.5 million (16%) and $11.1 million (7%), respectively. The decline is due to the calendar shift of the summer evening sale of Contemporary Art in London, in addition to a loss incurred on a painting attained by Sotheby’s earlier in the year and sold at auction in the second quarter. This painting was attained together with another painting that was sold at auction for an offsetting profit which will be recognized later in the year when payment is received and title passes to the buyer. Also unfavorably influencing the comparison to the preceding periods is the impact of provisions recorded in the second quarter as a result of recent developments, counting a cancelled sale provision and costs associated with a client claim, both related to property sold in preceding years.
Sotheby’s operates as an auctioneer of authenticated fine art, decorative art, and jewelry in the United States, the United Kingdom, China, France, Switzerland, and internationally. It operates through three segments: Agency, Principal, and Finance. The Agency segment accepts property on consignment, stimulates buyer interest through professional marketing techniques, and matches sellers to buyers through the auction or private sale process.
At the end of Tuesday’s trade, Baldwin Technology Co. (NYSEMKT:BLD)‘s shares surged 2.76% to $29.77.
TopBuild Corp. (BLD), the leading installer and distributor of insulation products to the United States construction industry based on revenue, declared financial results for the second quarter ended June 30, 2015.
Second Quarter 2015 Highlights
- Net sales were $404 million, an enhance of 5.5% from $383 million in the second quarter of 2014. The enhance was driven primarily by sales volume growth in the Installation segment, both residential and commercial lines of business.
- Adjusted operating profit improved to $20 million, as contrast with $13 million for the second quarter of 2014.
- Adjusted operating margins improved to 5.0%, from 3.4% for the comparable period in 2014.
- Adjusted diluted earnings per share were $0.27 as contrast to $0.17 in the preceding quarter.
- Adjusted net income from ongoing operations was $10M contrast to $6M in the preceding year quarter.
- Adjusted selling, general and administrated expenses as a percentage of sales was 220 bps improved from preceding year quarter.
- The Company had cash and cash equivalents and availability under its revolving credit facility totaling $131M.
- TopBuild Home Services, the Company’s building science group, was named 2015 Energy Star® Partner of the Year.
TopBuild Corp. installs insulation and other building products in the United States. The company operates in two segments, Installation and Distribution. It offers residential insulation services; and installs indoor and outdoor fireplaces, gutters, garage doors, closet shelves, shower doors, and others, in addition to roofing. T
Methanex Corporation (USA) (NASDAQ:MEOH), ended its Tuesday’s trading session with -2.90% loss, and closed at $45.61.
Methanex Corporation (MEOH) declared that its Board of Directors has declared a quarterly dividend of US$0.275 per share that will be payable on September 30, 2015 to holders of common shares of record on September 16, 2015.
Methanex Corporation produces and supplies methanol in the Asia Pacific, North America, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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