On Thursday, Shares of Quantum Corporation (NYSE:QTM), lost -1.90% to $2.06.
Quantum Corporation, declared it has created a new US healthcare marketing and distribution company, Provmark LLC. Provmark is led by two professionals with deep relationships across the United States and noteworthy healthcare experience and sales track records. Mr. David Perry as President and Mr. Joe Giamichael as CEO will head Provmark’s efforts, which will focus on the marketing, distribution and delivery of healthcare products and service solutions to over 400,000 primary care physicians (“Providers”) across the United States .
Provmark’s value proposition to the Provider market is driven by highly reimbursable ancillary services to better serve patient needs. The Affordable Care Act’s underlying concept is to reduce overall healthcare costs by focusing on wellness and prevention and empowering the Provider, as a gatekeeper, to treat increasingly complex diseases formerly referred to an expensive specialist. Providers have therefore become a larger consumer/facilitator of reimbursable healthcare services such as testing, labs, imaging and surgical procedures among many others; Provmark gives Quantum access to the full revenue cycle generated by a Provider practice and the opportunity to monetize these ancillary service revenue streams through owned facilities. Provmark will also provide new source referrals into Quantum’s existing Ambulatory Surgical Center (“ASC”) to further enhance profitability. The patient sourcing and ASC facilities business model can be replicated across the United States .
Quantum Corporation provides scale-out storage, archive, and data protection solutions for small businesses to major enterprises in the Americas, Europe, and the Asia Pacific. Its scale-out storage and archive products comprise StorNext File System software, which provides file sharing, storage, and archive for content workflows, digital libraries, and data repositories; StorNext Storage Manager software that automatically copies and migrates data between different tiers of storage based on user-defined policies.
Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL), gained 0.21% to $14.09, during its last trading session.
Marvell Technology Group, declared its next-generation industry-leading 88MZ300 802.15.4/ZigBee wireless microcontroller system-on-chip (SoC), the newest member of Marvell’s wireless microcontroller family of Internet of Things solutions. The high-performance, low-power, cost-effective SoC offers superior radio frequency (RF) performance that more than doubles the transmission range and reduces power consumption by 50 percent over Marvell’s previous generation 88MZ100 SoC, while maintaining the least amount of external components due to the high integration in silicon. Together with its support for open standards, counting the forthcoming ZigBee 3.0 and Thread protocols, the 88MZ300 SoC, together with a ZigBee to Wi-Fi bridge reference design and an ecosystem of hardware manufacturers and system integration partners, it enables original equipment manufacturers (OEMs) to rapidly bring new, innovative IoT applications to market. The 88MZ300 SoC is sampling now.
Key features comprise:
- 120dBm link-budget with 13dBm integrated PA and -107dBm receiving sensitivity.
- Best-in-class Wi-Fi coexistence performance with 56dBc WiFi ACI.
- 26mA transmitting current at 13dBm, 8.5mA receiving current and 1uA standby with memory retention.
- On-chip 512kB Flash and 164.5kB SRAM.
- QFN-32 package measures at 5mm by 5mm.
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.
At the end of Thursday’s trade, Shares of Key Energy Services Inc. (NYSE:KEG), lost -3.05% to $2.54.
Key Energy Services, stated first quarter 2015 merged revenues of $267.8 million and a pre-tax GAAP loss of $91.1 million, or $0.39 per share. The results for the first quarter comprise:
- a pre-tax charge of $21.7 million, or $0.09 per share, for a true-up to the impairment charge recorded in the fourth quarter 2014 associated with the Coiled Tubing Services segment;
- pre-tax costs of $18.0 million, or $0.08 per share, related to the formerly revealed Foreign Corrupt Practices Act (“FCPA”) investigations;
- a pre-tax charge of $4.0 million, or $0.02 per share, for a reserve associated with the receivable from the Company’s 2012 sale of its’ Argentine business;
- pre-tax costs of $3.3 million, or $0.01 per share, due to severance; and
- a pre-tax charge of $2.2 million, or $0.01 per share, related to assets destroyed in Mexico.
Key Energy Services, Inc. operates as an onshore rig-based well servicing contractor in the United States and internationally. It offers rig-based services, counting the maintenance, workover, and recompletion of existing oil wells; completion of newly-drilled wells; and plugging and abandonment of wells at the end of their lives, in addition to specialty drilling services to oil and natural gas producers.
Finally, U.S. Bancorp (NYSE:USB), ended its last trade with no change, and closed at $43.10.
U.S. Bancorp, has hired industry veteran Rex Rudy to head its commercial real estate division, succeeding Joe Hoesley, who retired in March. Rudy brings more than 20 years of experience in the industry, most recently as managing director and group head of real estate investment trust (REIT) finance at Wells Fargo.
As division head, Rudy will oversee 350 employees in the bank’s 24 commercial real estate offices across the country. The division focuses on establishing long-term relationships with commercial real estate developers, REITs, and commercial property owners located across the United States.
Rudy will be based in Charlotte, a market in which U.S. Bank has grown tremendously in recent years. The bank now employs 350 people in the market, nearly double what it did in 2008. The expansion is largely the result of growth in the bank’s wholesale banking, corporate trust and compliance divisions.
Rudy earned bachelor’s and master’s degrees in business administration from Ohio State University. He and his wife, Lisa, have three children: Connor, Cameron and Kristin.
U.S. Bancorp, a financial services holding company, provides a range of financial services in the United States. It offers depository services, which comprise checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products, in addition to credit card services, leasing, financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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