Category: Business

Business News from around the world.

AXIS Capital Reports First Quarter Net Income of $63 Million, or $0.75 Per Diluted Common Share; Operating Income of $123 Million, or $1.46 Per Diluted Common Share

For the first quarter of 2018, the Company reports: Annualized return on average common equity of 5.5% Annualized operating return on average common equity of 10.8% Diluted book value per common share of $52.57 PEMBROKE, Bermuda–(BUSINESS WIRE)–AXIS Capital Holdings Limited (“AXIS Capital” or “the Company”) (NYSE: AXS) today reported net income available to common shareholders …

Read more

Mexichem Reports First Quarter 2018 Results

TLALNEPANTLA DE BAZ, Mexico–(BUSINESS WIRE)–Mexichem, S.A.B. de C.V. (BMV: MEXCHEM*) (“the Company” or “Mexichem”) announced its unaudited results for the first quarter of 2018. Click here for the press release Management will host a Conference Call on Thursday, April 26th, 2018 to review results and operations of the quarter as follows: Conference Call 11:00 a.m. (US …

Read more

Bankwell Financial Group Reports First Quarter Net Income of $4.6 Million or $0.59 Per Share, Representing 24% Year over Year Growth and Declares Second Quarter Dividend

NEW CANAAN, Conn.–(BUSINESS WIRE)–Bankwell Financial Group, Inc. (NASDAQ:BWFG) reported GAAP net income of $4.6 million or $0.59 per share for the first quarter of 2018, versus $3.7 million or $0.48 per share for the same period in 2017. The Company’s Board of Directors declared a $0.12 per share cash dividend, payable May 25, 2018 to …

Read more

Cadence Bancorporation Reports Record First Quarter 2018 Results

HOUSTON–(BUSINESS WIRE)–“We are very pleased to report to you our first quarter of 2018 financial results,” stated Paul B. Murphy, Jr., Chairman and Chief Executive Officer of Cadence Bancorporation. “April 2018 marks the one-year anniversary since we took Cadence Bancorporation public. Since that time, our loans are up $1.1 billion or 14%, our core deposits …

Read more

Barclays and PayPal Announce Industry Leading Partnership

Barclays and PayPal join forces to help customers enhance their digital payments LONDON–(BUSINESS WIRE)–Barclays (LON:BARC) has announced a new strategic partnership with PayPal (NASDAQ:PYPL) that is designed to enable customers to manage and use their Barclays and PayPal accounts together with greater ease, for the first time. The partnership is expected to benefit millions of …

Read more

Mullen Group Ltd. Reports First Quarter Financial Results including Record Revenue in our Trucking/Logistics Segment

OKOTOKS, Alberta, April 25, 2018 (GLOBE NEWSWIRE) — (TSX:MTL)  Mullen Group Ltd. (“Mullen Group“, “We“, “Our” and/or the “Corporation“), one of Canada’s largest suppliers of trucking and logistics services as well as specialized transportation services to the oil and natural gas industry in Canada, today reported its financial and operating results for the period ended …

Read more

Dalton Submits Minority Shareholder Proposal to Shinsei Bank

Encourages shareholders to support change in compensation structure for the Board of Directors Proposed compensation structure promotes alignment of interest between business owners and Directors SANTA MONICA, Calif.–(BUSINESS WIRE)–Dalton Investments LLC (together with its affiliated entities, “Dalton”), announced today that it has submitted a proposal to Shinsei Bank, Limited (the “Bank”) encouraging shareholders to support …

Read more

New Mountain Capital Agrees to Sell Medical Specialties Distributors to McKesson

NEW YORK–(BUSINESS WIRE)–New Mountain Capital, LLC (“New Mountain”), a growth-oriented investment firm that currently manages more than $20 billion in assets, today announced that it has agreed to sell Medical Specialties Distributors (“MSD”) to McKesson Corporation. New Mountain acquired MSD in December 2013. MSD’s enterprise value approximately tripled during New Mountain’s ownership driven by growth …

Read more

NewMarket Corporation Reports First Quarter 2018 Results

First Quarter Net Income of $60.6 Million and Earnings Per Share of $5.14 Record Quarterly Shipments Continued Margin Compression Due to Raw Material Costs RICHMOND, Va.–(BUSINESS WIRE)–NewMarket Corporation (NYSE:NEU) Chairman and Chief Executive Officer, Thomas E. Gottwald, released the following earnings report of the Company’s operations for the first quarter of 2018. Net income for …

Read more

Methanex Reports Record First Quarter 2018 Results

VANCOUVER, British Columbia , April 25, 2018 (GLOBE NEWSWIRE) — For the first quarter of 2018, Methanex (TSX:MX) (NASDAQ:MEOH) reported net income attributable to Methanex shareholders of $169 million ($2.00 per common share on a diluted basis) compared to net income of $68 million ($0.81 per common share on a diluted basis) in the fourth …

Read more

Ladder Capital Corp to Report First Quarter 2018 Results

NEW YORK–(BUSINESS WIRE)–Ladder Capital Corp (NYSE:LADR) will release its first quarter 2018 results on May 2, 2018 after the close of markets that day. The Company will host a conference call and webcast for investors at 5:00 p.m. Eastern Time that day to discuss the financial results. The conference call can be accessed by dialing (877) …

Read more

First Interstate BancSystem, Inc. Enters Definitive Agreement to Acquire Northwest Bancorporation, Inc. and Expand Its Presence in the Pacific Northwest

BILLINGS, Mont. & SPOKANE, Wash.–(BUSINESS WIRE)–First Interstate BancSystem, Inc. (“First Interstate”) (NASDAQ: FIBK) and Northwest Bancorporation, Inc. (“Northwest”) (OTC Pink: NBCT) today announced that they have entered into a definitive agreement under which First Interstate, parent company of First Interstate Bank, will acquire Northwest, parent company of Inland Northwest Bank (“INB”), in an all-stock transaction …

Read more

MVIS Announces April 2018 Monthly Index Review Results of MVIS CryptoCompare Digital Assets Indices

FRANKFURT, Germany–(BUSINESS WIRE)–MV Index Solutions (MVIS) today announced the results of the monthly MVIS CryptoCompare Digital Assets Indices. The table below summarizes the results for the indices which contain more than one component. Detailed review results can be found on www.mvis-indices.com. The following changes will be implemented on April 30, 2018 and will become effective …

Read more

Superior Plus Announces Completion of the Sale of U.S. Wholesale Refined Fuel Assets

TORONTO–(BUSINESS WIRE)–Superior Plus Corp. (“Superior”) (TSX:SPB) is pleased to announce the completion of the previously announced sale of its wholesale refined fuels business and refined fuel terminal assets located in New York to Sunoco LP, following satisfaction of customary closing conditions for total cash consideration of approximately US $39.5 million, plus estimated net working capital …

Read more

Bluestem Group Inc. Announces Unaudited Consolidated Fourth Quarter and Fiscal 2017 Earnings Results

EDEN PRAIRIE, Minn.–(BUSINESS WIRE)–Bluestem Group Inc. (“Bluestem Group” or the “Company”)(OTCMKTS:BGRP) today reported unaudited consolidated financial results that include its wholly-owned subsidiary, Bluestem Brands, Inc. and its subsidiaries (“Bluestem Brands”), for the 13-weeks ended February 2, 2018 and the 14-weeks ended February 3, 2017 and audited consolidated financial results for the 52-weeks ended February 2, 2018 and the …

Read more

Financial Engines to Announce First Quarter 2018 Results on May 9, 2018

SUNNYVALE, Calif.–(BUSINESS WIRE)–Financial Engines (NASDAQ:FNGN) today announced that the Company will host a conference call to discuss first quarter 2018 financial results on Wednesday, May 9, 2018 at 5:00pm ET. Hosting the call will be Larry Raffone, President and Chief Executive Officer and Craig Foster, Chief Financial Officer. A press release with first quarter financial …

Read more

First Trust Announces Adjournment of Special Shareholder Meeting to Approve New Investment Sub-Advisory Agreements with Heitman for First Trust Heitman Global Prime Real Estate ETF

WHEATON, Ill.–(BUSINESS WIRE)–First Trust Advisors L.P. (“FTA”) announced today that the special meeting of shareholders of First Trust Heitman Global Prime Real Estate ETF (NYSE Arca: PRME) (the “Fund”), a series of First Trust Exchange-Traded Fund IV (the “Trust”), has been adjourned in order to allow shareholders additional time to vote on new investment sub-advisory …

Read more

Employers Holdings, Inc. Reports First Quarter 2018 Results

Net income of $25.6 million ($0.77 per diluted share), adjusted net income of $29.3 million ($0.88 per diluted share). Gross premiums written of $211.6 million, up 7% year-over-year. Underwriting income of $18.3 million versus $8.9 million a year ago. Combined ratio of 89.6%, combined ratio before the impact of the LPT of 91.1%. RENO, Nev.–(BUSINESS …

Read more