On Monday, Shares of Sprint Corp (NYSE:S), gained 3.88% to $4.41.
Sprint Corporation, tumbled behind T-Mobile into fourth place among U.S. wireless carriers. And now Sprint CEO Marcelo Claure has the company on the verge of drastic cost cuts.
Sprint told USA RECENTLY that it plans to significantly reduce spending, but it didn’t specify dollar amounts or how many of the company’s 31,000 employees might be at risk.
The Wall Street Journal reports that Sprint could slash as much as $2.5 billion over the next six months and that layoffs are likely. In an internal memo cited by the Journal, Sprint Chief Financial Officer Tarek Robbiati wrote that cuts “inevitably will result in job reductions,” and that employees must watch every expenditure.
“The main thing to consider when requesting to spend money is to take an owner’s mindset by treating every dollar as if it were your own,” Robbiati wrote in the memo
Sprint Corporation is a holding company. The Company, along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline.
Shares of Host Hotels and Resorts Inc (NYSE:HST), inclined 2.46% to $16.65, during its last trading session.
Host Hotels and Resorts, will report financial results for the third quarter 2015 before market open on Thursday, October 29, followed by a conference call at 9:00 a.m. Eastern Time (ET). Administration will discuss the Company’s third quarter 2015 results and its business outlook for the remainder of 2015.
Host Hotels & Resorts, Inc. (Host Inc.) operates as a self-managed and self-administered real estate investment trust (REIT). Host Inc. owns properties and conducts operations through Host Hotels & Resorts, L.P. (Host L.P.) of which Host Inc.
Shares of Emerson Electric Co. (NYSE:EMR), inclined 4.14% to $46.02, during its last trading session.
Emerson Electric, declared that its top-rated Wi-Fi thermostat is now compatible with Wink home automation systems. The Sensi™ Wi-Fi Programmable Thermostat with an intuitive app has achieved tremendous growth since its launch last year, and is now one of the best-reviewed Wi-Fi thermostats on the market. As a result, Home Depot recently began carrying the Sensi thermostat, which is also available through select retail and online stores, professional HVAC contractors and at SensiComfort.com.
The Sensi thermostat gives homeowners remote access to its settings from smartphones, tablets or PCs, while the thermostat’s Wink compatibility offers consumers even more convenience by enabling universal connectivity with other home smart products such as lights, locks and garage doors – all from one Wink app. Sensi Wi-Fi Thermostat users save up to 33 percent in energy costs by easily adjusting their thermostat plans around their busy lives.
The Sensi thermostat is Emerson’s first entry into the Wi-Fi thermostat market, a category which is predictable to grow to $600 million globally by 2018, according to ABI Research. The research group earlier this year also comprised Wink in its list of 118 up-and-coming tech innovators set to disrupt tech markets.
Emerson Electric Co. is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions. The Process Management segment provides measurement, control and diagnostic capabilities for automated industrial processes.
Finally, Bunge Ltd (NYSE:BG), ended its last trade with 0.59% gain, and closed at $75.01.
Bunge North America, the North American operating arm of Bunge Limited (BG), declared that it purchased Whole Harvest Foods, LLC, a leading refiner and packager of expeller pressed commercial cooking oil. Whole Harvest Foods products, which counting frying oils, pan sprays and liquid butter alternatives are manufactured at its vegetable oil refinery and packaging facility in Warsaw, North Carolina, and its packaging plant in Las Vegas, Nevada.
Whole Harvest Foods’ products are made from expeller pressed canola, cottonseed and soy oils and will provide solutions to both Bunge’s consumer food manufacturer and foodservice customers. The company has about 35 employees at its two locations who will become a part of the Bunge team.
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: The Agribusiness segment is involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
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