On Tuesday, The 4th of August the market wasn’t a good place for General Growth Properties; They saw their shares going down by a slight decrease of -0.68%.
The reason behind this slight decline is a bit astonishing since the company recently announced its operational and financial results for two time periods: 3 month time period and 6 month time period which both ended on the 30th of June of this year.
Albeit, the company saw an incline in their Net Income which previously was 524 million dollars and now after an increase of almost 3.4 percent, it has reached 543 million dollars as well. On the other hand they also managed to raise their income before any taxes, interest depreciation plus amortization. It was previously 485 million dollars and now stands at 505 million dollars, over all raising them 4.9 percent. More over the company’s diluted shares also saw an increase from being 0.31 dollar per share to 0.34 dollar per share. These results should have gotten General Growth Properties the raise in the market they deserve, but apparently these results weren’t what they stake holders had in mind.
The company was founded in 1954 and since then has managed to make a name for itself in the real estate industry. The company mostly focuses on building and managing shopping malls and centers throughout the United States of America. It has its headquarters in Chicago.
ACCO Brands on the other hand was a bit lucky at the stock market on Tuesday, the company saw a slight incline at the market of 0.13%.
The company who recently released its second quarter financial and operational results released a statement, they stated that they were pretty pleased by the overall performance of the company and they managed to raise their full-year adjusted EPS or earning per share guidance in between $0.75 and $0.78. The reason behind their good results were due to their operational activities and the boom in sales in their business. The company further stated that they are working on some performance changes which will further enhance their performance.
ACCO brands is the result of a merger which happened between General Binding Corp and Fortune Brands. The company is just a decade old since it was founded in 2005. It is in the manufacturing industry for office supplies and products.
Bank of New York Mellon Corp also saw the same fate as ACCO and saw a slight splurge in the market of about 0.92%, which got its shares to be sold and traded at a cost of $43.80.
As such no reason behind the incline could be found but it should be noted that the United States corporate pension plan fell about 1.1 percentage points in August and came down to 86.7 percent.
BNY mellon is an American company which offers financial and banking services. It was founded in 2007 and is the largest deposit bank in the world.