On Wednesday, Shares of Electronic Arts Inc. (NASDAQ:EA), gained 2.99% to $60.93, hitting its highest level.
Electronic Arts, declared preliminary financial results for its fourth fiscal quarter ended March 31, 2015.
Stock Repurchase Program
EA has declared that its Board of Directors has authorized a new program to repurchase up to $1 billion of EAs common stock. This new stock repurchase program, which expires on May 31, 2017, supersedes and replaces the existing stock repurchase authorization approved by a special committee of EAs Board of Directors in May 2014.
Under the program, EA may purchase stock in the open market or through privately negotiated transactions in accordance with applicable securities laws, counting following pre-arranged stock trading plans. The timing and actual amount of the stock repurchases will depend on several factors counting price, capital availability, regulatory requirements, alternative investment opportunities and other market conditions. EA is not obligated to repurchase any specific number of shares under the program and the repurchase program may be modified, suspended or suspended at any time.
Electronic Arts Inc. develops, markets, publishes, and distributes game software content and services for video game consoles, personal computers, mobile phones, and tablets. The company operates through EA Games, EA SPORTS, Maxis, PopCap, and All Play segments.
Shares of Molycorp, Inc. (NYSE:MCP), declined -16.25% to $0.67, during its last trading session.
Molycorp, declared that its opened world-class integrated casino resort City of Dreams Manila has become the first property in Entertainment City to receive the regular gaming license from the Philippine Amusement and Gaming Corporation (PAGCOR) for having met the minimum US$1 billion investment under PAGCOR’s regular license requirement. On May 4, 2015, PAGCOR’s President and COO, Mr. Jorge Sarmiento, on behalf of the Chairman and CEO, Mr. Cristino L. Naguiat, Jr., and the rest of the PAGCOR Board of Directors, presented the regular gaming license to Mr. Lawrence Ho, Co-chairman and Chief Executive Officer of Melco Crown Entertainment. Details can be found in the Company’s declaration filed with the Philippine Stock Exchange on May 4, 2015.
A provisional license was issued to the consortium on January 28, 2013. The regular gaming license issued recently is valid until July 11, 2033.
City of Dreams Manila features the ultimate in entertainment, hotel, retail and dining and lifestyle experiences with VIP and mass-market gaming facilities with up to about 375 gaming tables, 1,700 slot machines and 1,700 electronic table games. The integrated resort offers Crown, Nobu and Hyatt hotels; unique and distinctive entertainment attractions, counting Manila’s first branded Family Entertainment Center, DreamPlay by DreamWorks, which opened in March; a live performance central lounge inside the casino, the CenterPlay; a night club, Chaos, situated at the iconic Fortune Egg, an architecturally-unique dome-like structure; and Pangaea, an ultra-lounge.
Molycorp, Inc. produces and sells rare earths and rare metal materials in the United States and internationally. The company’s Resources segment extracts rare earth minerals, counting light rare earth concentrates; rare earth oxides (REO), such as lanthanum, cerium, and neodymium-praseodymium; heavy rare earth concentrates, which comprise samarium, europium, gadolinium, terbium, dysprosium, and others; and SorbX and PhosFIX, a line of rare earth-based water treatment products.
At the end of Wednesday’s trade, Shares of Xerox Corporation (NYSE:XRX), lost -1.47% to $11.38.
Xerox Corporation, declared the appointment of Bruce W. Jones as group president of its Financial Services Business.
Reporting to Bob Zapfel, president of Xerox Services, Jones will lead Xerox’s global financial services industry business group, which serves clients in the banking and capital markets, professional services and insurance industries.
“Bruce has spent his entire career in the business process outsourcing and IT services industries, and he brings deep global expertise in business development and sales, especially in financial services,” said Zapfel. “His arrival at Xerox completes the strong Services leadership team we’ve built to implement our industry-focused operating model. And, we are confident he will be a true partner to our clients in assisting them achieve their business aims.”
Xerox Corporation provides business process and document administration solutions worldwide. The company’s Services segment offers various business process outsourcing services, such as customer care, transaction processing, human resources, communication and marketing, and consulting and analytics services, in addition to finance, accounting, and procurement services.
Finally, The Coca-Cola Company (NYSE:KO), ended its last trade with -0.22% loss, and closed at $40.66.
The Board of Directors of The Coca-Cola Company promoted J. Alexander “Sandy” Douglas Jr., presently Senior Vice President and President, Coca-Cola North America to Executive Vice President, and promoted Dr. Ed Hays, presently Vice President and Chief Technical Officer to Senior Vice President. Additionally, it elected two new Vice Presidents – Julie Hamilton, Chief Customer and Commercial Leadership Officer; and Kelly Johnstone, Global Operations Director, Planned Security. Each of the appointments is effective right away.
The Board also declared a regular quarterly dividend of 33 cents per common share. The dividend is payable July 1, 2015 to shareowners of record as of June 15, 2015.
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company primarily offers sparkling beverages and still beverages. Its sparkling beverages comprise nonalcoholic ready-to-drink beverages with carbonation, such as carbonated energy drinks, and carbonated waters and flavored waters.
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