Shares of Reynolds American, Inc. (NYSE:RAI) ended Monday session in green amid volatile trading. The shares closed up +0.73 points or 1.55% at $47.88 with 1.43 billion shares getting traded. Post opening the session at $46.82 the shares hit an intraday low of $46.69 and an intraday high of $48.06 and the price vacillated in this range throughout the day. The company has a market cap of $64.67 billion and the numbers of outstanding shares have been calculated to be 1.43 billion shares.
Reynolds American, Inc. (RAI) manufactures, and sells cigarettes and other tobacco products in the United States. It operates through RJR Tobacco, Santa Fe, and American Snuff segments. The RJR Tobacco segment offers cigarettes under the NEWPORT, CAMEL, PALL MALL, DORAL, MISTY, and CAPRI brands; and CAMEL Snus, a smoke-free tobacco product, as well as manages various licensed brands, including DUNHILL and STATE EXPRESS 555. The Santa Fe segment manufactures and markets cigarettes and other tobacco products under the NATURAL AMERICAN SPIRIT brand.
Shares of Archer Daniels Midland Company (NYSE:ADM) ended Monday session in green amid volatile trading. The shares closed up +0.94 points or 2.24% at $42.96 with 581.76 million shares getting traded. Post opening the session at $41.91 the shares hit an intraday low of $41.54 and an intraday high of $43.07 and the price vacillated in this range throughout the day. The company has a market cap of $24.29 billion and the numbers of outstanding shares have been calculated to be 581.76 million shares.
Archer Daniels Midland Company (ADM) on August 2, 2016 reported financial results for the quarter ended June 30, 2016.
Second Quarter 2016 Highlights (continued):
- EPS as reported of $0.48 includes a $0.09 per share charge related to LIFO, $0.17 per share of gains related to sales or revaluation of assets, and other charges of $0.01 per share. Excluding these items, adjusted EPS is $0.41.
- Trailing four-quarter-average adjusted ROIC was 5.7 percent, 90 basis points below our annual WACC of 6.6 percent.
- The effective tax rate for the quarter was 29 percent compared to 27 percent in the year-ago quarter. This quarter’s taxes included about $20 million of discrete tax items (about $0.03 per share).
- During the first six months of 2016, the company returned $0.8 billion to shareholders through dividends and share repurchases.
“After a challenging start to the year, general market conditions began to turn at the end of the second quarter, providing us with improved opportunities for the second half of the year,” said ADM Chairman and CEO Juan Luciano. “Weak grain handling margins and merchandising results continued for Ag Services. Results for Corn included strong performance in sweeteners and starches offset by lower ethanol results. Our Oilseeds operations leveraged their flex capacity to crush record volumes of soybeans in the second quarter as global protein demand continues to grow. WFSI saw strong growth in flavors and systems, with operating profit in line with the year-ago quarter.