On Wednesday, Colfax Corp (NYSE:CFX)’s shares inclined 2.32% to $38.83.
Colfax Corporation (CFX), a leading global manufacturer of gas- and fluid-handling and fabrication technology products and services, declared its financial results for the second quarter ended June 26, 2015.
For the second quarter of 2015, net income was $53.1 million, or $0.42 per dilutive share. Adjusted net income (as defined below) was $63.0 million, or $0.50 per share, contrast to $59.6 million for the second quarter of 2014, or $0.48 per share.
Net sales were $1,025.4 million in the second quarter, a decrease of 14.5% from the preceding year. Net sales reduced 4.5% organically contrast to the second quarter of 2014. Second quarter operating income was $96.6 million, with adjusted operating income (as defined below) of $105.4 million. Adjusted operating income margin (as defined below) was 10.3% in the second quarter, an enhance of 120 basis points from the preceding year.
Second quarter gas- and fluid-handling orders reduced by 15.4% to $502.3 million contrast to orders of $593.8 million for the second quarter of 2014, an organic order decrease of 4.7%. Gas- and fluid-handling finished the period with backlog of $1,364.4 million.
Colfax Corporation, an industrial manufacturing and engineering company, provides gas-and fluid-handling, and fabrication technology products and services to commercial and governmental customers worldwide. The company operates in two segments, Gas and Fluid Handling, and Fabrication Technology.
Extreme Networks, Inc (NASDAQ:EXTR)’s shares gained 3.56% to $2.33.
Extreme Networks, Inc. (EXTR) declared new customers and raised adoption of its connectivity solutions in the K-12 education market. With the recent overhaul of the E-rate program, reliable Internet access is a national precedingity for recently’s schools. In addition to equipping school districts across the country with reliable Wi-Fi access, Extreme Networks is assisting education IT administrators improve network access, bandwidth control, application connectivity and analytics with its solutions platform. Extreme Networks’ connectivity solutions provide affordable Internet access and world-class features to teachers, students and administrators. These solutions will be showcased at ISTE 2015 this week, where attendees can hear more about the company’s solutions and industry trends at booth #2528.
Extreme Networks, Inc., together with its auxiliaries, provides wired and wireless network infrastructure equipment, software, and services for enterprises, data centers, and service providers. The company offers Black Diamond products, which deliver modular or chassis-based Ethernet connectivity solutions that have a range of administration and line cards allowing customers to configure and re-purpose the systems; and Summit product family of stackable Ethernet switching systems, which provide a range of connection speeds, various physical presentations, and options to deliver PoE or unpowered standard Ethernet ports.
At the end of Wednesday’s trade, Geron Corporation (NASDAQ:GERN))‘s shares surged 0.50% to $4.02.
Geron Corporation (GERN) held its 2015 Annual Meeting of Stockholders at the Westin San Francisco Airport, One Old Bayshore Highway, Millbrae, CA 94030, and via conference call, following notice duly given. Only stockholders of record as of the close of business on March 23, 2015 were entitled to vote at the Annual Meeting. As of March 23, 2015, the record date for the Annual Meeting, 157,845,799 shares of common stock of the Company were outstanding and entitled to vote at the Annual Meeting, of which 123,541,278 shares of common stock of the Company were represented, in person or by proxy, constituting a quorum. The final results of the stockholder vote on each proposal brought before the Annual Meeting were as follows:
(a) Proposal 1. Each of the two (2) named nominees to hold office as Class I members of the Board of Directors to serve for a three-year term expiring at the Company’s 2018 Annual Meeting of Stockholders was elected based upon the following votes:
Nominee Votes For Votes Withheld Broker Non-Votes John A. Scarlett, M.D. 51,492,805 1,383,090 70,665,383 Robert J. Spiegel, FACP, M.D. 51,768,134 1,107,761 70,665,383
(b) Proposal 2. The non-binding advisory vote on named executive officer compensation was approved based upon the following votes:
Votes For Votes Against Abstentions Broker Non-Votes 48,276,988 3,838,683 760,224 70,665,383
Geron Corporation, a clinical stage biopharmaceutical company, focuses on the development of telomerase inhibitor, imetelstat, for treating hematologic myeloid malignancies. It has partnership and license agreement with Janssen Biotech, Inc. to develop and commercialize imetelstat worldwide for indications in oncology, counting hematologic myeloid malignancies and other human therapeutic uses.
Abraxas Petroleum Corp. (NASDAQ:AXAS), ended its Wednesday’s trading session with -6.04% loss, and closed at $1.71.
Abraxas Petroleum Corporation (AXAS) commented on recent market conditions.
Aside from weakness in the general commodity markets, Abraxas is unaware of any fundamental reason for the Company’s recent stock price underperformance. Abraxas notes that the Company exited June 30, 2015 $108 million borrowed on the Company’s $165 million borrowing base. With an additional nine well completions during the quarter, and only bank debt (in addition to nominal amounts for a building mortgage and rig loan) in the Company’s capital structure, the Company is very comfortable with its asset coverage. Additionally, with a $55 million capital program that approximates forecasted cash flow, the Company remains comfortable this strong financial positioning should continue through 2015. Moreover, the Company reiterates that in outer years, it presently forecasts it can hold production at over 7,000 boepd running a one rig Bakken program, which approximates a $50-$60 million capital program. Abraxas also reiterates the Company’s 2015 production guidance of 6,500-7,000 boepd.
Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, exploitation, development, and production of oil and gas properties in the United States. The company operates oil and gas assets in the Rocky Mountain, Permian Basin, and onshore Gulf Coast regions.
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