On Monday, Shares of Microsoft Corporation (NASDAQ:MSFT), lost -1.48% to $43.29.
Microsoft Corporation declared that it will change the reporting of its financial results to reflect the company’s strategy and ambitions to build best-in-class platforms and productivity services for a mobile-first, cloud-first world. Starting in fiscal year 2016, the company will report revenue and operating income based on three operating segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing.
The Productivity and Business Processes segment comprises results from Office and Office 365 for commercial and consumer customers, in addition to Dynamics and Dynamics CRM Online.
The Intelligent Cloud segment comprises results from public, private and hybrid server products and services such as Windows Server, SQL Server, System Center, Azure, and Enterprise Services.
The More Personal Computing segment comprises results from licensing of the Windows operating system, devices such as Surface and phones, gaming counting Xbox consoles, and search.
The company will declare its financial results for the first quarter on October 22, 2015, and will report financial performance based on these three operating segments. To aid investors with the transition, for the first quarter results only, revenue and gross margin will also be offered for the operating segments that Microsoft stated during fiscal year 2015.
Microsoft Corporation is engaged in developing, licensing and supporting a range of software products and services. The Company also designs and sells hardware, and delivers online advertising to the customers. The Company operates in five segments: Devices and Consumer (D&C) Licensing, D&C Hardware, D&C Other, Commercial Licensing, and Commercial Other.
Shares of Republic Airways Holdings Inc. (NASDAQ:RJET), inclined 81.79% to $5.29, during its last trading session.
Teamsters Local 357 and Republic Airways Holdings Inc. (NASDAQ/NM: RJET) declared recently that they have reached a consensual tentative agreement on the terms of a new three-year contract for the 2,100 Republic pilots represented by the International Brotherhood of Teamsters.
The parties are preparing the document for publication, at which point Local 357 will distribute copies of the tentative agreement to its members. The union plans to hold a series of road shows and other forums to afford its members the opportunity to review the tentative agreement and to ask questions. Ratification voting is planned to conclude in late October. Further details on this process will be offered to our Pilots by the union in the coming days.
Both parties wish to express their thanks to the National Mediation Board, and specifically to board member Linda Puchala and to senior mediator Terri Brown, for their ongoing guidance and assistance during this process. The parties also express their appreciation to the staff and specifically, Director, Captain David Bourne of the Teamster’s Airline Division for their assistance.
Republic Airways Holdings Inc. is a holding company. The Company offers scheduled passenger services through its wholly owned operating air carrier subsidiaries: Chautauqua Airlines, Inc. (Chautauqua), Shuttle America Corporation (Shuttle) and Republic Airline Inc.
Shares of KeyCorp (NYSE:KEY), declined -3.33% to $12.76, during its last trading session.
KeyBank, declared a planned partnership and minority investment in AvidXchange, a world class leader in accounts payable automation solutions. This partnership marks the most recent in a series of partnerships with emerging FinTech providers, solidifying Key’s commitment to deliver innovative products and services to market.
The AvidXchange platform will allow Key’s clients to transform the invoicing to payment process by replacing a traditionally paper-based process with end-to-end digital capabilities. The SaaS based nature of the platform, coupled with integrations into more than 100 of the most commonly used accounting systems, means companies are able to get up and running right away, with little need for heavy IT resources. Combining this innovation with Key’s broad range of payment capabilities has created one of the most dynamic solutions in the market.
AvidXchange, recently accomplished a $225 million minority growth financing led by Bain Capital Ventures, with contributions from Foundry Group, NYCA Partners, KeyBank, Square 1 Bank, and TPG Special Situations Partners.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association, which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Bank provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services.
Finally, Magnum Hunter Resources Corp (NYSE:MHR), ended its last trade with -8.55% loss, and closed at $0.347.
Magnum Hunter Resources declared that the Board of Directors has designated Chris Hewitt as Vice President - Finance and Capital Markets effective September 15, 2015. Mr. Hewitt, age 45, will report directly to Gary C. Evans, Chairman and Chief Executive Officer of Magnum Hunter.
Mr. Hewitt brings more than 14 years of investment banking experience, counting 12 years providing equity and debt capital markets and mergers and acquisition advisory services for large independent oil and gas exploration and production companies. Mr. Hewitt has extensive experience in executing capital market transactions, counting initial public and follow-on equity offerings in addition to investment grade and high yield debt offerings. Before his appointment at Magnum Hunter, Mr. Hewitt served as Director of energy investment banking at Wells Fargo Securities since 2010. During his 9 year tenure at Wells Fargo Securities (formerly Wachovia Capital Markets) he also served as Vice President of energy investment banking. Before joining Wells Fargo / Wachovia, Mr. Hewitt served in various investment banking roles at both Lehman Brothers and Bear Stearns & Company. Mr. Hewitt earned a Bachelor of Arts degree in International Relations from the University of Notre Dame. In addition, Mr. Hewitt holds a Juris Doctorate from the University of Texas School of Law and a Masters of Business Administration from the Fuqua School of Business at Duke University.
Magnum Hunter Resources Corporation (Magnum Hunter), an independent oil and gas company, is engaged primarily in the exploration for and the exploitation, acquisition, development and production of natural gas and natural gas liquids (NGLs) resources in the United States.
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