During Monday’s current trade, Capital One Financial Corp.(NYSE:COF)’s shares gained 0.50%, to $82.34.
Capital One Financial Corp (COF), declared its Board of Directors approved an enhance in its quarterly dividend from $0.30 per share to $0.40 per share payable May 21, 2015 to stockholders of record as of May 11, 2015. The company has declared dividends on its common stock every quarter since it became an independent company on February 28, 1995. Dividends declared by the company are eligible for direct reinvestment in the company’s common stock under its Dividend Reinvestment and Stock Purchase Plan. For additional Plan information, stockholders should contact Computershare Trust Company, N.A., at 1-888-985-2057 (inside the U.S. and Canada) or 1-781-575-2725 (outside the U.S. and Canada).
The company also declared a quarterly dividend on the outstanding shares of its 6.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock”). Each outstanding share of the Series B Preferred Stock is represented by depositary shares, each representing a 1/40th interest in a share of Series B Preferred Stock. The dividend of $15.00 per share (equivalent to $0.375 per outstanding depositary share) will be paid on June 1, 2015 to stockholders of record at the close of business on May 15, 2015.
he company also declared a quarterly dividend on the outstanding shares of its 6.25% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series C (the “Series C Preferred Stock”). Each outstanding share of the Series C Preferred Stock is represented by depositary shares, each representing a 1/40th interest in a share of Series C Preferred Stock. The dividend of $15.625 per share (equivalent to $0.390625 per outstanding depositary share) will be paid on June 1, 2015 to stockholders of record at the close of business on May 15, 2015.
Capital One Financial Corporation operates as the bank holding company for the Capital One Bank (USA), National Association (COBNA); and Capital One, National Association (CONA), which provide various financial products and services in the United States, the United Kingdom, and Canada. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking. The company offers various non-interest bearing and interest-bearing deposits, such as demand deposits, money market deposits, time deposits, negotiable order of withdrawal accounts, and savings accounts.
MeadWestvaco Corp (NYSE:MWV)’s shares jumped 0.16% to $49.52, during the current trading session Monday’s.
Today, MeadWestvaco Corp (MWV) introduced MiniMod™, the company’s new airless pump and pouch dispensing system.
MiniMod’s airless design incorporates an easy-to-push button actuator for comfortable and controlled dispensing, and a flexible pouch, which is accessible in “stock” 25ml and 40ml sizes – or can be fully customized to a desired shape or volume. The dispensing solution works well with low-to-medium viscosity products, such as skincare crèmes, lotions or hair care products. MWV partnered with Ampac to develop the pouch technology and Marietta Corporation/KIK Custom Products to assist with customers’ product filling needs.
“We all have busy lifestyles recently, but that’s no reason to sacrifice excellent brand experiences with our favorite beauty products. Through our consumer insights research, we’ve found consumers store their favorite products in desk drawers, purses, backpacks and in the car. Many consumers use these products more frequently on-the-go than at home,” said Amber Ellis, vice president, MWV Beauty. “It’s in these instances where MiniMod is most valuable. The slim, compact design can fit almost anywhere, so consumers can take their favorite brands everywhere.”
The solution represents MWV’s leadership in creating dispensing solutions designed to fit consumers’ lifestyle and beauty rituals. Increasingly, portability and convenience are key packaging needs as brands work to deliver solutions that align with consumers’ increasingly mobile lifestyles. MiniMod offers consumers the convenience of carrying their favorite brands everywhere they go, without having to compromise their routines or limit the use of their favorite products.
“The beauty and personal care industry is trending towards convenience and portability, but on-the-go packaging for beauty brands is still dominated by travel and sample-size packages,” said Kevin Clark, president, MWV Home & Beauty. “Consumers want more from their beauty brands than a smaller version of their at-home dispensing solution, especially when it comes to functionality. MiniMod offers unmatched consumer benefits, ensuring that every use of their favorite brands lives up to the brand promise—every time and everywhere.”
MWV will introduce MiniMod at Luxe Pack New York in New York City on May 13-14, 2015. The company will occupy booth B-306 at the show where MWV will also display its full portfolio of beauty and personal care and fragrance dispensing solutions.
MeadWestvaco Corporation provides packaging solutions to the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and agricultural industries worldwide. The company operates through Food & Beverage; Home, Health & Beauty; Industrial; Specialty Chemicals; and Community Development and Land Administration segments.
In an mid-morning trade, Avon Products, Inc (NYSE:AVP)’s shares dipped -0.86%, to $8.09.
Avon Products, Inc (AVP) stated first-quarter 2015 results. “Overall, the first quarter was in line with our expectations despite currency pressures that were greater than anticipated. Ongoing on the momentum we saw in the second half of 2014, I’m encouraged to see improvement in our Active Representative trends and constant-dollar revenue growth in the majority of our top markets,” said Sheri McCoy, Chief Executive Officer of Avon Products, Inc. “Despite continued foreign exchange pressure, I’m really impressed with how well our teams in market are managing in this volatile environment. This is a payoff for the work we’ve done over the past two years on strengthening our talent and improving core processes.”
First-Quarter 2015 Income Statement Review (contrast with first-quarter 2014)
- Revenues for Avon Products, Inc. reduced 18% to $1.8 billion, but raised 1% in constant dollars, driven by strong growth in Europe, Middle East & Africa.
- Active Representatives2 were down 1% year-over-year but reflect a sequential improvement from preceding quarters. The overall decline in Active Representatives was driven by North America, partially offset by growth in a number of markets, most significantly Russia. Average order2 raised 2%, which benefited from price enhances in markets experiencing high inflation (Venezuela and Argentina).
- Total units reduced 2%, driven by a decline in North America. Price/mix was up 3% during the quarter, aided by pricing in markets experiencing high inflation.
- Beauty sales declined 17%, but raised 3% in constant dollars. Fashion & Home sales declined 19%, or 3% in constant dollars.
- Gross margin was 60.6%, up 440 basis points. Adjusted gross margin was 61.4%, down 10 basis points, primarily due to the unfavorable impact of foreign exchange, partially offset by lower supply chain costs.
- Operating margin was (2.1)% in the quarter, up 20 basis points. Adjusted operating margin was 5.7%, down 40 basis points, primarily due to the unfavorable impact of foreign exchange. Raised advertising, primarily for new product launches of color cosmetics in Brazil, was also a factor. These unfavorable impacts were partially offset by continued benefits from cost savings initiatives.
- The effective tax rate from ongoing operations was (77.2)%, contrast with (18.6)% in the preceding-year period. The Adjusted effective tax rate was 67.9% for the first quarter of 2015, contrast with 46.3% for the first quarter of 2014. The higher 2015 Adjusted effective tax rate is primarily due to the inability, in accordance with GAAP, to recognize additional deferred tax assets related to the Company’s current-year, U.S.-based operating results, as a result of the valuation allowance recorded in fourth-quarter 2014. This caused an approximate 22 point negative impact on our 2015 Adjusted effective tax rate.
- Net loss was $146 million, or a loss of $0.33 per diluted share, contrast with a net loss of $167 million, or a loss of $0.38 per diluted share, for the first quarter of 2014. Adjusted net income was $17 million, or $0.04 per diluted share, contrast with Adjusted net income of $52 million, or $0.12 per diluted share, for the first quarter of 2014.
Avon Products, Inc. manufactures and markets beauty and related products worldwide. It offers beauty products, such as skincare, and personal care products, in addition to fragrances and color cosmetics; and fashion and home products comprising of jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children’s products, and nutritional products. The company markets its products through direct selling and independent representatives. Avon Products, Inc. was founded in 1886 and is headquartered in New York, New York.
CME Group Inc (NASDAQ:CME), during its Monday’s current trading session declined -0.78% to $90.07.
Today, CME Group Inc (CME), declared that April 2015 volume was 252 million contracts, down 2 percent from April 2014. Of the total volume, 87 percent was traded electronically. April 2015 volume averaged 11.5 million contracts per day, down 6 percent from April 2014. Options volume in April averaged 2.3 million contracts per day, down 1 percent as compared to April 2014, with electronic options growing 6 percent over the same period. Of the total options volume, 52 percent was traded electronically in April.
CME Group interest rate volume averaged 5.1 million contracts per day in April 2015, down 14 percent contrast with April 2014. Eurodollar futures volume averaged 1.8 million contracts per day, down 18 percent from the same period a year ago. Eurodollar options volume averaged 791,000 contracts per day, up 8 percent from April last year. Treasury futures volume averaged 2.0 million contracts per day, down 17 percent contrast with April 2014. Treasury options volume averaged 457,000 contracts per day, down 20 percent from the same period last year.
CME Group foreign exchange (FX) volume averaged 838,000 contracts per day, up 50 percent from April 2014. The average daily notional value of FX contracts traded in April was $86 billion. CME Group equity index volume in April 2015 averaged 2.1 million contracts per day, down 24 percent from the same period a year ago.
CME Group energy volume averaged 1.8 million contracts per day in April 2015, up 23 percent contrast with the preceding-year period. CME Group agricultural commodities volume averaged 1.3 million contracts per day, up 11 percent from April 2014. CME Group metals volume averaged 324,000 contracts per day, up 1 percent contrast with the preceding April.
CME Group Inc., through its auxiliaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products for trading and/or clearing across various asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals. The products comprise exchange-traded; and privately negotiated futures and options contracts and swaps.
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