On Monday, Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD), added 0.43% and closed at $9.30 in the last trading session. The last trading range of the stock ranges between $9.21 and $9.52. The company’s Market capitalization is $3.67 Billion with the total Outstanding Shares of 400.87 million. Brocade Communications Systems, Inc. provides storage area networking (SAN) and Internet protocol (IP) networking solutions for businesses and organizations worldwide. It operates through three segments: SAN Products, IP Networking Products, and Global Services. The SAN Products segment offers infrastructure products and solutions, such as fiber channel SAN backbones, directors, and fabric/embedded switches that assist customers in the development and deployment of storage and server consolidation, and disaster recovery and data security, in addition to to meet compliance requirements regarding data administration; and fabric extension, switching, and routing solutions. The IP Networking Products segment provides Layer 2 and Layer 3 switches and routers that are designed to connect users over private and public networks, counting local area, metro, and within and across data centers. This segment also provides converged network products; a portfolio of related software and hardware-based data networking offerings; and Layer 4-7 platforms, counting ADX and virtual application delivery controller products that are designed for application traffic administration and server load balancing activities. The Global Services segment offers break/fix maintenance, installation, consulting, network administration and software maintenance, and customer support services.
Ascena Retail Group Inc (NASDAQ:ASNA), dropped -1.58% and closed at $5.62 in the last trading session. The last trading range of the stock ranges between $5.62 and $5.92. The company’s Market capitalization is $1.09 Billion with the total Outstanding Shares of 194.21 million. During the 52-week trading session the minimum price at which share price traded, registered at $5.33 and reached to max level of $14.76. After more than six months of extensive planning, ascena retail group, inc. (ASNA) (the “Company”) recently begins the execution phase of its major enterprise transformation plan. In addition to the ongoing implementation of its $235 million cost-savings program associated with its integration of ANN INC., the Company anticipates its new Change for Growth program will deliver an incremental $100 – $150 million of cost savings by fiscal 2019. The Change for Growth program will refine ascena’s operating model to increase its focus on key customer segments, improve its time-to-market, reduce working capital, and enhance its ability to serve its customer on any purchasing platform, all while better leveraging the Company’s powerful shared services platform.
The Company is making noteworthyorganizational changes as part of its accelerated execution plan, and has restructured its business into four operating segments. Reporting of future results will be based on this new segment structure:
- Premium Fashion – Ann Taylor, LOFT, and Lou & Grey
- Plus Fashion – Lane Bryant and Catherines
- Value Fashion – maurices and dressbarn
- Kids Fashion – Justice
The Company also declared the creation of its new ascena Brand Services (aBS) team, which will assume the responsibilities for its existing centralized Shared Services Group functions, counting supply chain, logistics, sourcing, and IT, in addition to additional brand support functions to be developed through its Change for Growth program.
On the otherhand Diamond Offshore Drilling Inc (NYSE:DO), jumped 3.16% and closed at $17.62 in the last trading session. The last trading range of the stock ranges between $17.32 and $17.66. The company’s Market capitalization is $2.46 Billion with the total Outstanding Shares of 137.17 million. During the 52-week trading session the minimum price at which share price traded, registered at $14.18 and reached to max level of $26.72. Diamond Offshore Drilling, Inc. (DO) has been notified by its customer, BP, that BP will no longer pursue a drilling campaign in the Great Australian Bight. In 2013, BP reached a contract with Diamond for Diamond’s harsh environment ultra-deepwater semi, the Ocean GreatWhite, and had intended to use the rig on the Great Australian Bight campaign. BP has confirmed that its decision will not impact Diamond’s rig contract. BP and Diamond are exploring alternative locations for the Ocean GreatWhite.