Shares of Meritor Inc (NYSE:MTOR) ended Thursday session in green amid volatile trading. The shares closed up +0.10 points or 0.93% at $10.91 with 511,949.00 shares getting traded. Post opening the session at $10.76, the shares hit an intraday low of $10.75 and an intraday high of $10.95 and the price vacillated in this range throughout the day. The company has a market cap of $932.78 million and the numbers of outstanding shares have been calculated to be 86.76 million shares.
On May 20, 2016 Dressed in pink Meritor shirts and exercising to high-energy, upbeat music, more than 350 employees of Meritor, Inc. (MTOR) created the company’s first-ever exercise flash mob event. Overall, the company and its employees contributed approximately $15,000 for the Susan G. Komen Detroit Race for the Cure®.
Led by five professional fitness instructors, employees participated in 30 minutes of low-impact, warm-up calisthenics outside the company’s Troy headquarters. The action-packed exercise event reinforced an ongoing commitment by Meritor and its employees to do their part and make a difference for the greater good – while having fun.
“Many organizations across Southeast Michigan from health and human services to educational and cultural programs have benefitted from our employees’ generosity – and we really do have a good time planning and organizing activities that help others,” said Krista Sohm, vice president, Marketing & Communications.
Shares of Owens-Illinois Inc (NYSE:OI) ended Thursday session in green amid volatile trading. The shares closed up +0.16 points or 0.89% at $18.06 with 939,143.00 shares getting traded. Post opening the session at $17.86, the shares hit an intraday low of $17.78 and an intraday high of $18.15 and the price vacillated in this range throughout the day. The company has a market cap of $2.86 billion and the numbers of outstanding shares have been calculated to be 162.08 million shares.
Owens-Illinois Inc (OI) on July 28, 2016 reported financial results for the second quarter ended June 30, 2016.
Second Quarter Highlights
- Earnings from continuing operations were $0.65 per share (diluted), which was on the high end of management`s guidance of $0.60 to $0.65 per share, despite continued economic pressures. This compares favorably with earnings from continuing operations in the second quarter of 2015 of $0.26 per share (diluted), and, on an adjusted basis, of $0.60 per share.
- Net sales were $1.8 billion, up 14 percent from the prior year second quarter, a clear benefit derived from the Company`s acquisition of Vitro`s food and beverage business (the “acquired business”). Excluding the acquired business, sales volumes were 1 percent above the prior year period, in line with management`s full year expectations.
- Earnings from continuing operations before income taxes were $141 million in the quarter, more than double prior year results. Segment operating profit of reportable segments1 was $233 million, a 25 percent increase compared with prior year, driven by stability and operational performance of the legacy business, as well as the impact of the acquired business. All regions except Asia Pacific posted higher segment operating profit compared with prior year.
- Strategic initiatives are on track to deliver 2016 targets.
- The Company is reaffirming its full year guidance for earnings and cash flow.
Commenting on the Company`s second quarter results and outlook, CEO Andres Lopez stated, “We are very pleased with the solid progress on the execution of our strategy. Our meaningful performance improvement is the result of significant focus on improving our efficiency, stabilizing both revenue and operating performance, and continued success with the integration of the Mexico acquisition. In addition, we are gaining momentum by enhancing customer service, implementing a more robust end-to-end global supply chain and transforming our organization to deliver improved quality, agility, speed, flexibility and innovation – all at a competitive price. We have been delivering steady improvement, which has resulted in margin expansion and a year-over-year increase in earnings. Looking ahead, we remain committed to our earnings and cash flow guidance.”