On Tuesday, Jabil Circuit, Inc. (NYSE:JBL)’s shares declined -0.59% to $23.70.
Jabil Circuit, Inc. (JBL) was named the second place winner of this year’s Institute of Industrial Engineers (IIE) Lean Best Practice Award for their Lean design of a new Healthcare Manufacturing Facility in Waterford, Ireland project.
The award was presented to two of Jabil’s Nypro Healthcare team members, Ken McClannon and Sean Roche, by IIE Executives at an awards ceremony in Nashville, Tennessee on June 1. The Nypro team competed against five other teams, counting The Bill and Melinda Gates Foundation, Bosch Hungary, Boeing, Nokia and Jabil’s team from Venray. Judged by IIE members and Lean experts from various industries, the team was ranked based on their innovation, clarity, tools used, results and the project’s sustainability.
Jabil Circuit, Inc., together with its auxiliaries, provides electronic manufacturing services and solutions worldwide. It offers electronics design, production, and product administration services to companies in the aerospace, automotive, computing, defense, digital home, energy, healthcare, industrial, instrumentation, lifestyles, mobility, mold, networking, packaging, peripherals, storage, telecommunications, and wearable technology industries.
Navistar International Corp (NYSE:NAV)’s shares gained 3.03% to $24.81.
Navistar International Corp (NAV) declared a second quarter 2015 net loss of $64 million, or $0.78 per diluted share, contrast to a second quarter 2014 net loss of $297 million, or $3.65 per diluted share. Revenues in the quarter were $2.7 billion. Chargeouts in the company’s core markets (Class 6-8 trucks and buses in the United States and Canada) were up 38 percent over last quarter.
Second quarter 2015 EBITDA was $85 million as compared to an EBITDA loss of $119 million in the same period one year ago. The $204 million year-over-year improvement was driven by an enhance in truck segment sales, favorable product mix and the continuation of lower warranty expense and cost reductions. Prior year results comprised of $149 million in asset impairment charges related to the company’s South American engine operations.
Second quarter 2015 adjusted EBITDA was $102 million contrast to $82 million in the second quarter of 2014. The second quarter comprised of one-time net charges of $17 million, contrast to one-time charges of $201 million in the second quarter of 2014.
The company was cash flow positive in the second quarter 2015 and finished the quarter with $784 million in manufacturing cash, cash equivalents and marketable securities.
Navistar International Corporation manufactures and sells commercial and military trucks, diesel engines, and school and commercial buses; and provides service parts for trucks and diesel engines worldwide. It operates through four segments: North America Truck, North America Parts, Global Operations, and Financial Services.
At the end of Tuesday’s trade, Pep Boys-Manny Moe and Jack (NYSE:PBY)‘s shares surged 9.18% to $11.54.
Pep Boys-Manny Moe and Jack (PBY) declared the following results for the thirteen weeks (first quarter) ended May 2, 2015.
Sales
Sales for the thirteen weeks ended May 2, 2015 raised by $3.4 million, or 0.6%, to $542.3 million from $538.8 million for the thirteen weeks ended May 3, 2014. Comparable sales raised 0.8%, comprising of an enhance of 1.3% in comparable service revenue and an enhance of 0.6% in comparable merchandise sales. In accordance with GAAP, service revenue is limited to labor sales, while merchandise sales comprise merchandise sold through both our service center and retail lines of business. Re-categorizing sales into the respective lines of business from which they are generated, comparable service center revenue raised 1.9%, while comparable retail sales reduced 0.5%.
Earnings
Net earnings for the first quarter of fiscal 2015 were $11.9 million ($0.22 per share) as contrast to net earnings of $1.6 million ($0.03 per share) recorded in the first quarter of fiscal 2014. Operating profit for the first quarter of fiscal 2015 raised to $23.1 million from $6.0 million recorded in the first quarter of fiscal 2014.
The Pep Boys Manny, Moe & Jack, together with its auxiliaries, engages in the automotive aftermarket service and retail business in the United States and Puerto Rico. The company’s service locations offer a range of automotive maintenance and repair services; and install tires, parts, and accessories.
KKR & Co. L.P. (NYSE:KKR), ended its Tuesday’s trading session with -0.95% loss, and closed at $22.85.
Bayer AG has reached a definitive agreement to sell its Diabetes Care business to Panasonic Healthcare Holdings Co., Ltd., a company which is backed by funds sponsored by leading global investment firm KKR & Co. L.P. (KKR) and the Panasonic Corporation. The total consideration for the transaction is EUR 1,022 million ( JPY 138 billion ). The sale will comprise the leading Contour™ portfolio of blood glucose monitoring meters and strips, in addition to other products such as Breeze™2, Elite™ and Microlet™ lancing devices. Closing of the transaction is subject to customary conditions, counting relevant antitrust clearance, and is predictable to occur in the first quarter of 2016.
Bayer: Science For A Better Life
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech polymer materials. As an innovation company, it sets trends in research-intensive areas. Bayer’s products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2014, the Group employed 118,900 people and had sales of EUR 42.2 billion. Capital expenditures amounted to EUR 2.5 billion, R&D expenses to EUR 3.6 billion.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments.
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