On Wednesday, Shares of Emerson Electric Co. (NYSE:EMR), gained 0.07% to $55.47.
Emerson Electric, declared it plans to spin off its Network Power business via a tax-free distribution to shareholders as part of a plan to streamline its portfolio, drive growth, and accelerate value creation for shareholders. Emerson will also explore planned alternatives for its motors and drives, power generation and remaining storage businesses. In addition, the company will conduct a complete review and assessment of its corporate services and structure to bring them into alignment with its smaller scale and sharper focus.
The spinoff of Network Power will result in two separate, industry-leading companies with distinct strategies and investment profiles. Following completion of all actions, Emerson will continue to be a global leader in bringing technology and engineering together to provide solutions for customers in the process, industrial, commercial and residential markets. These actions offer noteworthy opportunities for improved growth, profitability, cash flow, and returns to shareholders.
Emerson Electric Co. provides technology and engineering solutions to industrial, commercial, and consumer markets worldwide. It operates through five segments: Process Administration, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL), inclined 0.87% to $13.30, during its last trading session.
Marvell, declared that SDI Technologies, a 60 year CE giant and parent company of iHome, a major consumer electronics manufacturer with products in 50+ million US homes and sold at retailers in 70 countries worldwide, has selected Marvell’s EZ-Connect IoT platform and SDK to power its iHome iSP5 SmartPlug.
“Marvell is thrilled to see the launch of iHome SmartPlug, as the first product in the iHome Control series of smart home products,” said Philip Poulidis, Vice President and General Manager, Wireless and Internet of Things Business Units at Marvell. “This partnershipwith iHome reflects our efforts to empower consumers with the most innovative connected devices accessible.”
“We are delighted to collaborate with Marvell to declare the new iHome Control series of smart home products,” said Gary Schultz, Director of Business and Product Development, SDI Technologies. “Marvell has established itself as a leader in the IoT market and has greatly assisted in accelerating our product development and launch. We look forward to ongoing our close partnership with Marvell as we bring additional Smart-Home IoT products to the market.”
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers mobile and wireless products comprising communications and applications processors; thin modems; and connectivity solutions, counting Wi-Fi, Bluetooth, near field communication, and FM; and mobile computing products, in addition to silicon solutions and Kinoma software.
Finally, Southern Co (NYSE:SO), ended its last trade with 0.61% gain, and closed at $42.15.
Southern, declared $4.6 million in grants to establish and enhance more than 173,000 acres of longleaf pine. Among the grants are 11 projects within the Southern Company system service area in Alabama, Florida, Georgia and Mississippi.
The 2015 grants will support 22 projects that are a part of NFWF’s Longleaf Stewardship Fund, a landmark public-private partnership that comprises the U.S. Department of Agriculture’s Forest Service and Natural Resources Conservation Service; the U.S. Department of Defense; the U.S. Fish and Wildlife Service; Southern Company; International Paper’s Forestland Stewards Initiative; and Altria Group.
These projects are designed to establish more than 11,600 acres and enhance more than 163,000 additional acres of longleaf pine habitat across the historic longleaf range. The 11 projects within the Southern Company system service territory are predictable to impact more than 132,000 acres. Two of these projects are also receiving funding through the company’s Power of Flight program, in partnership with NFWF.
The Southern Company, together with its auxiliaries, operates as a public electric utility company. It is involved in the generation, transmission, and distribution of electricity through coal, nuclear, oil and gas, and hydro resources in the states of Alabama, Georgia, Florida, and Mississippi.
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