On Thursday, Shares of MBIA Inc. (NYSE:MBI), lost -2.21% to $5.75.
MBIA Inc., declared that the Puerto Rico Electric Power Authority (PREPA) and all other Puerto Rico-related obligors with National-insured debt service payments due July 1, 2015, made such payments as planned. As a result, there were no claims on any of National’s insurance policies.
By honoring its legal obligations to bondholders, PREPA can return its full attention to addressing its operational and financial challenges. National looks forward to ongoing what has been an active and constructive dialogue on how to best position PREPA to meet its aims while respecting the interests of all stakeholders. Importantly, in order to strengthen PREPA’s liquidity position while these vital negotiations continue, the forbearing bond insurers, counting National, have agreed to provide $128 million of short-term bridge financing through the execution of a Bond Purchase Agreement and committing to purchase interest-bearing securities planned to mature on January 1, 2016. National’s share of the total $128 million of short-term financing is $45 million. These securities are being issued under PREPA’s existing Power Revenue Bond Trust Agreement as parity indebtedness with the same terms and rights to repayment as PREPA’s existing revenue debt. The forbearing bond insurers have also agreed to extend the forbearance agreement to September 15, 2015 subject to certain milestones that creditors and PREPA have agreed upon.
MBIA Inc. provides financial guarantee insurance services to public finance markets in the United States and internationally. The company operates through U.S. Public Finance Insurance, and International and Structured Finance Insurance segments.
Shares of Activision Blizzard, Inc. (NASDAQ:ATVI), declined -0.40% to $24.63, during its last trading session.
Activision Blizzard, intended to release its second quarter 2015 results after the close of the market on Tuesday, August 4, 2015. In conjunction with this release, Activision Blizzard will host a conference call that will be broadcast over the Internet.
A presentation corresponding with the conference call will be accessible in Adobe Acrobat format at http://investor.activision.com/events.cfm. A replay of the call will also be accessible about three hours after the call’s conclusion and archived for one year in the Investor Relations section at www.activisionblizzard.com.
Activision Blizzard, Inc. develops and publishes online, personal computer (PC), video game console, handheld, mobile, and tablet games worldwide. The company develops and publishes interactive entertainment software products through retail channels or digital downloads; and downloadable content to a range of gamers.
Finally, Violin Memory Inc (NYSE:VMEM), ended its last trade with -4.68% loss, and close at $2.24.
Violin Memory Inc, declared that its Violin 7300 Flash Storage Platform (FSP) has achieved VMware Ready™ status, and has been certified with VMware Horizon Fast Track 2.0 Proven Storage. The VMware Ready designation indicates that after a detailed validation process the Violin 7300 FSP has achieved VMware’s highest level of endorsement.
“Violin Memory’s 7300 Flash Storage Platform is built with the feature set required to address the performance, cost and scalability challenges faced in any virtual desktop environment,” said Amy Love, Chief Marketing Officer, Violin Memory. “With the Violin 7300 FSP achieving VMware Ready status, and certification for VMware Horizon Fast Track 2.0 Proven Storage, end users have a seamless and easy to manage VDI platform that can cost-effectively scale as business requires.”
Violin Memory, Inc. develops and supplies memory-based storage systems to bring storage performance in line with high-speed applications, servers, and networks worldwide.
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