On Monday, Shares of PayPal Holdings, Inc. (NASDAQ:PYPL), gained 5.42% to $40.47, hitting its highest level.
PayPal Holdings, declared that it has accomplished its separation from eBay Inc. (“eBay”) and is now an independent public company trading on the Nasdaq Stock Market under the ticker symbol “PYPL.” The company’s leadership team joined with employees and merchants to push the iconic PayPal button to ring the opening bell at Nasdaq to mark the milestone.
“As the world’s open, digital payments platform and most trusted and popular digital wallet, we are excited to celebrate our listing day and embark on our next chapter,” said Dan Schulman, President and Chief Executive Officer of PayPal. “Mobile technology is transforming payments, making it easier, safer and more affordable for people to move and manage their money than ever before. As an independent company, we see a tremendous opportunity for PayPal to expand our role as a champion for consumers and partner to merchants, and to assist shape the industry as money becomes digital at an increasingly rapid pace.”
PayPal formerly was listed on the Nasdaq under the same ticker symbol “PYPL” before it was attained by eBay Inc. in 2002 for $1.5 billion. “We’d like to thank our friends at eBay for their tremendous support and partnership over the past 12-plus years,” concluded Schulman.
Under the terms of the separation, on July 17, 2015, stockholders who held eBay common stock at the close of business on July 8, 2015 (the “Record Date”) received a distribution of one PayPal common share for every one share of eBay common stock held as of the Record Date. No fractional shares of PayPal were distributed.
Shares of Comcast Corporation (NASDAQ:CMCSA), inclined 0.08% to $64.32, during its last trading session.
Comcast Business declared that it has been selected by Connecticut United for Research Excellence, Inc. (CURE) as the founding technology network services partner for the CURE Innovation Commons, a 24,000-square-foot incubator in Groton, Connecticut, focused on advancing bioscience entrepreneurship and commercialization in the state. Governor Dannel P. Malloy joined the Chamber of Commerce of Eastern Connecticut and Comcast Business officials during a special groundbreaking ceremony earlier recently to commemorate this new partnership, which also marked the availability of multi-Gigabit Ethernet services across Comcast’s entire Connecticut footprint of 83 local communities.
Officially formed in 1990 as a joint educational initiative between Yale University, UCONN and leaders of pharmaceutical companies like Pfizer and Boehringer-Ingelheim, CURE recently is addressing a very practical need in southeastern Connecticut for community lab space where entrepreneurs may access services, equipment and mentors to assist grow their businesses. By connecting local entrepreneurs in the life sciences industry with universities, government agencies, scientists, investors and more, CURE aims to build a statewide community and be a catalyst for innovation that keeps the Connecticut economy strong.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments.
Finally, Jarden Corp. (NYSE:JAH), ended its last trade with 2.70% gain, and closed at $56.25, hitting its highest level.
Jarden Corporation, declared that it has commenced, subject to market and other conditions, an underwritten public offering of 14,000,000 shares of its common stock, following an effective shelf registration statement formerly filed with the Securities and Exchange Commission. In connection with the offering, Jarden anticipates to grant the underwriters an option for a period of 30 days to purchase up to an additional 2,100,000 shares of common stock.
The Company anticipates to use the net proceeds of the offering to fund a portion of the purchase price and related fees and expenses for the recently declared acquisition of Waddington Group, Inc.. The offering is not conditioned on the closing of the acquisition of Waddington and the Company cannot assure you that such acquisition will be accomplished. If the acquisition of Waddington is not accomplished, the Company intends to use the net proceeds from the offering for general corporate purposes.
Barclays Capital Inc., Credit Suisse Securities (USA) LLC and UBS Securities, LLC are acting as lead book-running managers for the offering. RBC Capital Markets, LLC, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.
Jarden Corporation manufactures, markets, and distributes consumer products worldwide. The company’s Outdoor Solutions segment offers camping and outdoor equipment; fishing and team sports equipment; alpine and nordic skiing, snowboarding, snowshoeing, and in-line skating products; technical and outdoor apparel and equipment; personal flotation devices, water sports equipment, and all-terrain vehicle gears; and inflatable air beds and accessories.
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