On Friday, Shares of Solera Holdings Inc (NYSE:SLH), gained 4.04% to $44.54.
Solera Holdings declared that Suncorp Group Limited, which comprises a portfolio of leading general insurance brands in Australia and New Zealand, has selected Solera’s Risk Administration Solutions platform following an extensive trial covering 20,000 auto repairs.
The advanced auto repair software, which is the first of its kind in the Australian market, will allow Suncorp to evolve with the increasingly complex auto industry while managing rising customer expectations.
With this new agreement, Solera’s damage assessment and claims processing platform will be rolled out across the Suncorp network in Australia, starting in October. In addition to claims processing, Suncorp also selected Solera’s vehicle identification and customer communications solutions to improve the end-to-end claims process, making it faster and more transparent.
Solera worked hand-in-hand with Suncorp throughout the trial period to customize the platform to meet the unique needs of the region and integrate seamlessly with Suncorp’s Claim Administration System. Through rapid innovations, Solera compiled local data to cover 95% of the Australian car parc and built VIN decoding for 88% of the Australian car parc. As a result, Solera’s database now comprises data on more than 800 models unique to the Australian market.
Solera Holdings, Inc. provides software and services to insurance companies, collision repair facilities, independent assessors, automotive recyclers, auto dealers, and households. The company offers estimating and workflow software that manages the overall claims process, estimates the cost to repair a damaged vehicle, and calculates the pre-collision fair market value of a vehicle; and salvage, salvage disposition, and recycling software that connects buyers and sellers through an electronic auction network.
Shares of Comerica Incorporated (NYSE:CMA), inclined 1.15% to $47.45, during its last trading session.
Comerica Bank’s California Economic Activity Index grew in May, increasing 0.8 percentage points to a level of 120.5. May’s reading is 36 points, or 43 percent, above the index cyclical low of 84.0. The index averaged 113.7 points for all of 2014, seven and one-half points above the average for all of 2013. April’s index reading was 119.7.
“The California economy continued to gain momentum in May after picking up speed in April. In May we see the second monthly enhance in our California Economic Activity Index, reversing a three-month slide through the first quarter of this year. Job creation in the state remains well above the U.S. average. Through June, payroll job growth in California was up 3.0 percent over the previous 12 months, bringing the state unemployment rate down to 6.3 percent, the lowest it has been since February 2008,” said Robert Dye, Chief Economist at Comerica Bank. “Real estate markets continue to firm up, supported by the strong performance of the IT sector.”
The California Economic Activity Index comprises of eight variables, as follows: nonfarm payrolls, exports, hotel occupancy rates, and ongoing claims for unemployment insurance, housing starts, national defense spending, home prices, and the NASDAQ-100-Technology Sector Index (NDXT). All data are seasonally adjusted, as necessary, and indexed to a base year of 2008. Nominal values have been converted to constant dollar values. Index levels are expressed in terms of three-month moving averages.
Comerica Incorporated, through its auxiliaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Administration. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash administration, capital market products, international trade finance, letters of credit, foreign exchange administration services, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
At the end of Friday’s trade, Shares of BSQUARE Corporation (NASDAQ:BSQR), gained 18.18% to $7.28.
BSQUARE Corporation declared financial results for the second quarter and first half of 2015.
Second Quarter 2015 Financial Highlights
- Revenue was $28.9 million, a 10% enhance contrast to the first quarter of 2015 and a 25% enhance over the second quarter of 2014.
- Net income was $1.9 million, or $0.15 per share, contrast to net income of $1.8 million, or $0.15 per share, in the first quarter of 2015 and net income of $0.7 million, or $0.06 per share, in the year-ago quarter.
- Adjusted EBITDAS was $2.3 million, about the same as stated in the first quarter of 2015, and an enhance of about $1.2 million contrast to $1.1 million in the year-ago quarter.
- Cash and investments at June 30, 2015 were $29.7 million, up $2.8 million from March 31, 2015.
BSQUARE Corporation provides software solutions and related engineering services to companies that develop connected systems in North America, Asia, and Europe. Its proprietary software products comprise HTML5 rendering engine that is based on the open-source WebKit platform and facilitates device makers to create applications and user interfaces for their devices; TestQuest 10, a software testing automation tool, which offers test solutions for testing smart connected systems; DataV, a data solution that comprises software products, applications, and services that turn raw device data into actionable data; and MobileV, which provides a common platform for original equipment manufacturers to build multiple device form factors.
Finally, CIT Group Inc. (NYSE:CIT), ended its last trade with 0.39% gain, and closed at $46.62.
CIT Group Inc., declared that CIT Maritime Finance offered a $32 million senior secured credit facility to Norstar Tankers Ltd. to acquire two long range (LR1) product tankers. Financing was offered by CIT Bank, N.A., the principal bank partner of CIT. Terms of the transaction were not revealed.
“Evolving refinery dynamics favor product tankers, as U.S., Middle Eastern and Indian refinery capacity has raised, and European refinery capacity, burdened by higher costs, continues to decline,” said Chris Bonehill, Principal, Norstar Shipping Group. “Thanks to their deep knowledge of the maritime sector, CIT understood the impact of these trends and quickly arranged a flexible financial solution that allowed us to seize the opportunities we saw in the market. We look forward to working with CIT again.”
CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products; and a suite of savings options in the United States. Its Transportation & International Finance segment offers leasing and financing solutions to operators and suppliers in the aviation and railcar industries.
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