On Tuesday, Trimble Navigation Limited (NASDAQ:TRMB)’s shares inclined 1.96% to $23.46.
Trimble (TRMB) declared TILOS version 9.0 time and location planning software for highways, railways, pipelines, tunnels, water engineering, transmission line construction and other linear civil engineering projects. Trimble® TILOS merges technical and plan information into one dynamic plan, giving users more information than Gantt charts or network diagrams alone. The new version of TILOS offers better linear construction project visualization and improved integration with Primavera project administration software and Trimble Business Center – HCE office software for heavy civil construction takeoff and data preparation.
Trimble Navigation Limited provides technology solutions to enhance the work processes of office and mobile field professionals worldwide. The company’s Engineering and Construction segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; BIM software for design, construction, and maintenance; integrated site layout and measurement systems; application products; integrated workplace administration services software; capital program and facility administration solutions; and field based data collection systems and software, communications systems, and back-office software.
Ares Capital Corporation (NASDAQ:ARCC)’s shares gained 0.77% to $16.46.
Ares Capital Corporation (ARCC) and Varagon Capital Partners recently declared that they are establishing a new joint venture that will make senior secured loans to middle-market companies. The new joint venture will be called the Senior Direct Lending Program (SDLP). The SDLP will work to follow on with the success that Ares Capital enjoyed with its previous senior loan joint venture, the Senior Secured Loan Program (SSLP), with GE Capital.
Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.
At the end of Tuesday’s trade, PDL BioPharma Inc (NASDAQ:PDLI)‘s shares surged 1.10% to $6.43.
PDL BioPharma, Inc. (PDLI) declared that it has reached a credit agreement with CareView Communications, Inc. (CRVW) whereby PDL will provide CareView with up to $40 million of secured debt financing. CareView is an information technology provider to the healthcare industry focused on patient care monitoring.
Under the credit agreement, PDL will provide CareView with up to $40 million of debt financing in two tranches of $20 million, based upon the achievement of specified milestones. Each tranche has a five year maturity. PDL will receive interest on the principal amount outstanding and has a security interest in substantially all of CareView’s assets. As part of the transaction, PDL received a warrant to purchase about 4.4 million shares of common stock of CareView at an exercise price of $0.45 per share.
PDL BioPharma, Inc. manages a portfolio of patents and royalty assets in the United States and Europe. The company is involved in the humanization of monoclonal antibodies and the discovery of a new generation of targeted treatments for cancer and immunologic diseases.
Allstate Corp (NYSE:ALL), ended its Tuesday’s trading session with 0.29% gain, and closed at $64.87.
The Allstate Corporation (ALL) became fully independent, marking a pivotal moment in its evolution as a public company.
On June 30, 1995, Sears, Roebuck and Co. accomplished the spin-off of its one-time insurance partner by divesting all its Allstate shares to Sears shareholders – just two years after offering 20 percent of its Allstate shares to investors in an initial public offering.
For Allstate – founded in 1931 – the spin-off heralded a period of growth and progress. The company expanded its relationship with customers, defined its shared purpose and persevered through severe weather and economic storms.
Since the spin-off, Allstate’s total shareholder return of 610 percent has exceeded the 460 percent return of the S&P 500 stock index, in addition to the 375 percent return of the S&P Property-Casualty Index. Over the past 20 years, Allstate has offered more than $36 billion in cash returns to common shareholders.
The Allstate Corporation, through its auxiliaries, engages in the property-liability insurance and life insurance businesses in the United States and Canada. The company’s Allstate Protection segment sells private passenger auto and homeowners insurance products under the Allstate, Encompass, Esurance brand names. It also provides specialty auto products, counting motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products comprising renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; roadside assistance products; and commercial products for small business owners, in addition to insurance agency services.
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