On Monday, Shares of Sprint Corporation (NYSE:S), surged 13.95% to $3.84.
Sprint Corporation and Shentel (NASDAQ:SHEN) declared they have amended their associate agreement and reached several other agreements concurrent with Shentel entering into a contract to acquire NTELOS Holdings Corp. (nTelos) (NASDAQ:NTLS). The related agreements call for Sprint to pay Shentel up to $252 million over about 5-6 years through a reduction in Sprint’s retained revenues under the associate agreement in consideration for spectrum, customers, and value derived from the amended Shentel associate relationship and related commercial terms.
Upon closing of Shentel’s purchase of nTelos, Sprint will receive nTelos spectrum assets covering 5.4 million people in parts of Virginia, West Virginia, Pennsylvania, Maryland, Ohio, Kentucky and North Carolina. Shentel will terminate the existing network wholesale agreements between Sprint and nTelos, continue to upgrade the nTelos network to 4G LTE and expand coverage in the areas with at least an additional 150 sites over the next three years, using spectrum attained by Sprint and made accessible to Shentel as part of the transaction. Shentel will also be able to utilize Sprint’s 2.5 GHz spectrum within its footprint. This will provide an improved and more complete network for the new and existing Sprint customers.
Sprint Corporation, through its auxiliaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the U.S. Virgin Islands.
Shares of Marathon Oil Corporation (NYSE:MRO), inclined 3.15% to $18.98, during its last trading session.
Oppenheimer downgraded Marathon Oil Corporation from Outperform to Perform.
Marathon Oil last released its earnings results on Wednesday, August 5th. The company stated ($0.23) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.23). The company had revenue of $1.53 billion for the quarter, contrast to the consensus estimate of $2.94 billion. During the same quarter last year, the company posted $0.89 EPS. The company’s quarterly revenue was down 47.9% on a year-over-year basis. Equities analysts predict that Marathon Oil will post ($1.06) earnings per share for the current year.
Marathon Oil Corporation operates as an energy company. It operates in three segments: North America Exploration and Production, International Exploration and Production, and Oil Sands Mining.
Finally, Net Element, Inc. (NASDAQ:NETE), ended its last trade with -22.71% loss, and closed at $0.26.
Net Element launched “Restoactive”, a comprehensive mobile restaurant solution. Restoactive all-in-one mobile application works with the merchant’s existing point-of-sale (“POS”) system, which allows value-added offerings to be accessible in the current merchant environment. This removes much of the effort needed to adopt new technology or replace existing ones on restaurant administration platforms.
Restoactive was developed through a combined effort between our in-house engineers, and third party payments and hospitality experts. We believe Restoactive is the first of its kind integrated platform, which introduces all-in-one digital menu, kiosk and mobile POS application into an existing POS environment without the need to displace existing restaurant administration platforms. Restoactive platform seamlessly plugs into a current restaurant environment through integration with some of the biggest POS and restaurant administration platforms such as: MICROS®, POSitouch®, Aloha® and Symphony®. By integrating into the leading POS and restaurant administration platforms, Restoactive is now accessible to over 500,000 restaurants in the United States.
According to Hospitality Technology 2014 POS Software Trends Report, when asked to ID the key business drivers pushing restaurants to make a POS upgrade, the vast majority, 69.6% of restaurant operators, named “adding a mobile POS.” Coming in a close second, 62.5% chose “enabling new payment options.” Rounding out their top three business drivers, almost half of restaurants surveyed, 46.4%, named “delivering personalized guest promotions” as a major objective.
Net Element, Inc., a global payments-as-a-service, operates as a technology provider with an integrated mobile and transactional services platform serving emerging market clients.
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