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CG Stocks in Hub! Ball Corporation (BLL), Crocs, Inc. (CROX)

Shares of Ball Corporation (NYSE:BLL) increased +0.66% and closed at $0.84 after opening 79.26 with the overall traded volume of 532,320.00 shares. The company’s Market capitalization reached to $13.93 billion, $174.23 million outstanding shares. Its low price was $79.10 and highest price was $79.79. The Distance from 50 day Simple moving average was -0.27% and Distance from 200 day Simple moving average 9.31%.The EPS is 2.14.

Ball Corporation (BLL) announced an agreement to sell its specialty tin manufacturing facility in Baltimore, Maryland, to U.S.-based Independent Can Company for approximately $25 million.

The transaction is expected to close during the fourth quarter of 2016 and the proceeds are subject to customary closing adjustments.

“We continue to focus on maximizing value and generating positive EVA® dollars in our core businesses,” said Jim Peterson, chief operating officer, food and aerosol packaging. “While parting with dedicated employees is difficult, the Baltimore plant is an ideal complement to ICC’s specialty tin can-focused business and this agreement helps Ball to better align with our strategic focus on food and aerosol packaging.”

The Baltimore plant employs approximately 50 people and manufactures a diverse range of specialty and custom tinplate cans for a range of applications from cosmetics to promotional items. Ball acquired the plant in 2006 as part of the company’s acquisition of U.S. Can Corporation.

Shares of Crocs, Inc. (NASDAQ:CROX) decreased -0.36% and closed at $8.28 after opening 8.38 with the overall traded volume of 307,353.00 shares. The company’s Market capitalization reached to $606.26 million, $73.49 million outstanding shares. Its low price was $8.23 and highest price was $8.41. The Distance from 50 day Simple moving average was -2.68% and Distance from 200 day Simple moving average was -12.77%. The EPS is -1.18.

Crocs, Inc. (CROX)  reported financial results for the three months ended June 30, 2016.

Second Quarter Highlights:

  •  Revenue decreased 6.3% to $323.8 million compared to the three months ended June 30, 2015. On a constant currency basis, revenue decreased 6.2%.
  •  Net income attributable to common stockholders on a GAAP basis increased 21.1% to $11.7 million or $0.13 per diluted share, compared to the three months ended June 30, 2015.

Gregg Ribatt, Chief Executive Officer, said: “Despite a decline in our revenue, I am encouraged by our strategic progress which has enabled us to help mitigate the top-line pressure on profitability by delivering better than expected gross margins and managing expenses while reducing inventories. The global retail environment became more challenging as the second quarter progressed. This impacted our wholesale reorder opportunities and contributed to our sales shortfall relative to expectations. These headwinds were partially offset by a 2.9% increase in global direct-to-consumer comparable store sales, which is a positive indication that consumers are responding favorably to our new product line and enhanced marketing efforts. We remain confident that we have successfully repositioned the business and built the platform to provide sustained growth and profitability over the long-term.”

 

 

 

 

About Steve Johnson

Steve Johnson was previously writing news on part time basis with many consumer goods websites. Now Steve Johnson is writing columns with us on consumer goods. He has no match the way he presents the news on consumer goods. Customers like his news, analysis and predictions.

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