On Friday, Shares of Linn Energy LLC (NASDAQ:LINE), gain 13.79% to $3.30.
Linn Energy LLC, and LinnCo, LLC (LNCO) declared that David B. Rottino has been designated as Executive Vice President and Chief Financial Officer of both LINN and LinnCo, effective right away. Mr. Rottino joined the Company in June 2008 as Senior Vice President and Chief Accounting Officer and has served as Executive Vice President, Business Development and Chief Accounting Officer since January 2014. Formerly, he served as Senior Vice President of Finance, Business Development and Chief Accounting Officer from July 2010 to January 2014. Mr. Rottino has more than 20 years of experience in the oil and natural gas industry and has also held leadership positions with El Paso Corporation, ConocoPhillips and Burlington Resources. He holds a BBA from Texas Tech University and received his MBA from Texas Christian University. In his new role, Mr. Rottino will lead the Company’s existing finance and investor relations teams, together with his continued oversight of the accounting and business development functions at the Company.
“David has demonstrated tremendous leadership in the Company’s transformational initiatives over the past two years, which have resulted in a more stable asset base and an improved ability to weather this current challenging environment,” said Mark E. Ellis, Chairman, President and Chief Executive Officer. “We believe his extensive industry knowledge, in addition to his noteworthy finance and accounting experience, will serve us well as we navigate an uncertain period of low commodity prices and position the Company for the future.”
Kolja Rockov, Executive Vice President and Chief Financial Officer, will be leaving the Company to pursue other opportunities. This mutually agreed departure is not related to any disagreement with the Company’s policies or practices.
Shares of Aeropostale Inc (NYSE:ARO), declined -26.54% to $0.926, during its last trading session.
Aeropostale Inc (ARO), stated results for the second quarter of fiscal 2015, and offered guidance for the third quarter of fiscal 2015.
Second Quarter Performance
For the second quarter of fiscal 2015, net sales reduced 17% to $326.9 million, from $396.2 million in the year ago period. Comparable sales, counting the e-commerce channel, for the second quarter of fiscal 2015 reduced 8%, contrast to a decrease of 13% for the corresponding 13-week period ended August 2, 2014.
The Company stated a net loss for the second quarter of fiscal 2015 of $43.7 million, or $0.55 per diluted share, which comprised of:
- an after-tax charge of about $2.9 million, or $0.04 per diluted share, resulting from store closing costs;
- and an after-tax charge of $2.4 million, or $0.03 per diluted share, due to consulting fees; offset by
- an after-tax benefit of $6.4 million, or $0.08 per diluted share, due to reversals of formerly established exit cost obligation liabilities resulting from subsequent lease terminations.
Not taking into account the aforementioned charges, the Company stated an adjusted net loss of $44.8 million, or $0.56 per diluted share in the second quarter of fiscal 2015 (see Exhibit D).
The Company stated an operating loss for the second quarter of fiscal 2015 of $37.4 million or, not taking into account the aforementioned charges, an adjusted operating loss of $38.6 million.
Julian R. Geiger, Chief Executive Officer, commented, “The second quarter was an important transitional time for us in which we set the stage for the second half of the year. We attained very high levels of merchandise currency, we delivered our new back to school merchandise, and we refocused our marketing efforts around key items, all while attaining operating results comprising with the better end of our guidance.”
Aéropostale, Inc. operates as a specialty retailer of casual apparel and accessories for 14 to 17 year-old young women and men. It operates through two segments, Retail Stores and E-Commerce, and International Licensing.
Finally, Lowe’s Companies, Inc (NYSE:LOW), ended its last trade with -0.88% loss, and closed at $68.45.
The Board of Directors for Lowe’s Companies, Inc. (LOW) has declared a quarterly cash dividend of twenty eight cents ($0.28) per share, payable November 4, 2015, to shareholders of record as of October 21, 2015.
Lowe’s Companies, Inc. operates as a home improvement retailer. The company offers products for maintenance, repair, remodeling, and home decorating. It provides home improvement products under the categories of kitchens and appliances; lumber and building materials; tools and hardware; fashion fixtures; rough plumbing and electrical; lawn and garden; seasonal living; paint; home fashions; storage and cleaning; flooring; millwork; and outdoor power equipment.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
