On Monday, Shares of Micron Technology, Inc. (NASDAQ:MU), gained 2.65% to $19, lifted by an article in the Economic Daily News of Taiwan relating that Samsung Electronics (005930KS), one of two big competitors to Micron, is going to cut its output of “standard” DRAM. Barrons.com Reports
The Economic Times article was picked up by Korbin Lan of trade pub CTimes, and it is not clear from his version just where Economic Times is getting its information. The article statedly states that Samsung is planning to shift capacity to production of the mobile version of DRAM, to accommodate Apple‘s (AAPL) iPhone. It also apparently states that Samsung’s prices will at least hold firm for DRAM and may very well rise. Barrons.com added.
Micron Technology, Inc., together with its auxiliaries, provides semiconductor solutions worldwide. The company manufactures and markets dynamic random access memory (DRAM), NAND flash, and NOR flash memory products; and packaging solutions and semiconductor systems.
Shares of Oasis Petroleum Inc. (NYSE:OAS), declined -8.83% to $8.78, during its last trading session, hitting its lowest level, dragged down by steepening declines in the price of oil.
Energy companies in the S&P 500 were the biggest decliners in the index, falling 2%. Major oil companies Chevron Corp. and Exxon Mobil Corp., which led declines in the Dow industrials on Friday, continued to drag the market lower, falling 3.3% and 1.5%, respectively. WSJ Reports
Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin.
Finally, LyondellBasell Industries N.V. (NYSE:LYB), ended its last trade with -4.01% loss, and closed at $90.07.
LyondellBasell Industries declared earnings from ongoing operations for the second quarter 2015 of $1.33 billion, or $2.81 diluted earnings per share. Second quarter 2015 EBITDA was about $2.19 billion.
The second quarter comprised of a $9 million non-cash, pre-tax credit for the impact of a lower of cost or market (LCM) inventory adjustment ($6 million after tax), which for certain segments represented a reversal of some or all of the LCM adjustment charged in the first quarter of 2015. Not taking into account the LCM adjustment, earnings from ongoing operations during the first quarter totaled $1.3 billion, or $2.79 per share, and EBITDA was $2.2 billion.
LyondellBasell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil, producer of gasoline blending components, and developer and licensor of technologies for production of polymers.
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