Crude oil prices managed to touch a four-month low as concerns over a supply imbalance, along with China’s stock market crash, weighed upon the commodity. There continues to be mounting concern over slowing demand within China and the global crude oil glut that just will not abate. Despite the growing concerns, Brent has managed to remain above the $50 a barrel level, whilst WTI crude is facing pressure at the $47.00 handle. This is significantly higher than forward analysis would have suggested some months back. However, whilst this excessive supply issue remains in frame oil prices must move lower to establish stable price equilibrium.
Ahlstrom, a global high performance fiber-based materials company, launches today Ahlstrom GenCollectTM and GenCollectTM Color, two products designed for forensics and genomics community to provide an easy and cost effective solution for collection of DNA from biosamples, short term storage at ambient temperature, and simplify downstream extraction processes. Ahlstrom GenCollectTM cards are recommended for easily identified samples such as whole blood. Ahlstrom GenCollectTM Color cards are used with clear samples such as saliva, buccal cells or urine. The cards deliver an ideal solution for a wide range of applications including Polymerase chain reaction (PCR), real-time PCR and short tandem repeats (STR) analysis.
Stora Enso has signed an agreement to divest its Barcelona mill, which produces recycled-fibre based consumer board, to the private equity fund Quantum. The transaction is in line with Stora Enso’s strategy to focus its consumer board offering on high quality virgin-fibre products.
Brands vying for the consumer’s attention face a challenge: to cut through the noise in the lives of people lead awash in digital content, whose attention span expires in seconds. Now new research offers fresh insights into why an enduring marketing tool breaks through the noise so effectively. Breaking Through the Noise is an ethnographic study that explores how consumers behave with mail, their attitudes and emotions toward it, and how they interact with it. The findings reveal a power in the familiar and the physical: the tactile ritual of receiving, sorting and reading mail. The fact that it occurs in one’s hands and home, combined with the repeated brand exposure from keeping it in the home, helps marketing mail to get noticed, trigger action and even enhance customer value and loyalty.
McGraw Hill Financial, Inc. (NYSE: MHFI) today reported second quarter 2015 results with revenue of $1.34 billion, an increase of 3% compared to the same period last year. Net income and diluted earnings per share from continuing operations were $353 million and $1.28, respectively. Adjusted net income from continuing operations increased 17% to $335 million and adjusted diluted earnings per share from continuing operations increased 17% to $1.21. The adjustments in the second quarter of 2015, which netted to a gain, were primarily related to insurance recoveries related to legal settlements, additional restructuring actions, and a gain on the sale of a legacy construction business asset.
Oil-field services providers that help drill wells have quietly revealed job cuts that were deeper than initially announced, and warned of more layoffs to come. Halliburton Co. and Baker Hughes Inc., two big service companies that plan to merge, disclosed last week that they had cut 27,000 jobs between them, double the 13,500 they announced in February. Nearly 50,000 energy jobs have been lost in the past three months on top of 100,000 employees laid off since oil prices started to tumble last fall, according to Graves & Co., a Houston energy consultancy. Initial rounds of layoffs this year tended to be blue-collar jobs, such as roughnecks on drilling sites, fracking crews and workers at industrial-equipment manufacturers. Now the job cuts are starting to extend to engineers and scientists.
The WWF has published a ‘Timber Scorecard’ report assessing over 100 companies’ performance in terms of sourcing sustainable timber and timber products. Pearson was given a ranking of ‘two trees’ out of a possible three in the scorecard. This indicates Pearson has made a very good start on the sustainability journey through the commitments the company has made to source FSC, PEFC and recycled products as well as establishing control mechanisms over the way it uses timber products. Peter Hughes, Sustainability Director at Pearson said: “At Pearson, our commercial success goes hand in hand with a focus on operating sustainably and responsibly. This is the right thing to do and positions us strongly to succeed in a fast-changing global environment. “We have been members of WWF’s Global Forest and Trade Network for over a decade and understand the importance of sustainable sourcing and efficient usage of paper. We’re pleased with the WWF scorecard rating, but will continually look at ways of improving our impact on the environment.”
R. R. Donnelley & Sons Company (Nasdaq:RRD) announced today that its RRD ActiveDisclosure cloud-based, financial disclosure management solution has completed a Service Organization Control (SOC) 2 Type II audit resulting in an unqualified opinion from Deloitte & Touche LLP that critical controls are in place and operating effectively to address security, availability and confidentiality of client information. The RRD ActiveDisclosure solution allows pre-IPO and public companies of all sizes and vertical industries to collaborate on documents and to comply with disclosure requirements mandated by the Securities and Exchange Commission, and other regulatory agencies, by speeding up and simplifying the process of creating, managing, and submitting the required disclosure documentation.
For the second quarter of 2014, net income from continuing operations was $91.6 million, or $1.03 per share, and included, among other items, a combined pre-tax gain of $145.9 million primarily from McClatchy's share of the gain from Classified Ventures' sale of Apartments.com and to a lesser extent a gain on the sale of its 50% partnership interest in McClatchy‑Tribune Information Services ("MCT"). Total revenues, based on gross sales of Cars.com and certain other digital products and services, in the second quarter of 2015 were $269.4 million, down 7.7% compared to the second quarter of 2014. Advertising revenues, based upon gross sales, were $165.6 million, down 12.5% compared to the same quarter last year.
Second Quarter Highlights •Q2 Adjusted Earnings per Diluted Share were $0.19 compared to $0.20 in the prior year period. •Q2 Adjusted EBITDA was $192.1 million compared to $190.8 million in the prior year period. •Q2 Adjusted EBITDA margin increased 110 basis points to 18.2% from 17.1% in the prior year period. Graphic Packaging Holding Company (NYSE: GPK), (the "Company"), a leading provider of paper-based packaging solutions to food, beverage and other consumer products companies, today reported Net Income for second quarter 2015 of $57.6 million, or $0.17 per share, based upon 330.9 million weighted average diluted shares. This compares to the second quarter 2014 Net Loss of $(40.0) million, or $(0.12) per share, based on 328.7 million weighted average diluted shares.