On Wednesday, Automatic Data Processing (NASDAQ:ADP)’s shares declined -0.26% to $77.51.
ADP TotalSource®, the largest Professional Employer Organization (PEO) in the United States with more than 387,000 co-employed operatesite employees, recently declared that it will now offer its services to companies in the State of Washington. Clients retain ADP TotalSource to assist reduce their compliance risk, streamline their HR operations, accelerate their growth, and keep costs stable while providing access to Fortune 500®-caliber benefits.
By working with a PEO like ADP TotalSource, a company benefits from a co-employment relationship where they retain the day-to-day control over administration of their employees, and the PEO handles HR and employee benefits administration responsibilities. ADP TotalSource assists business owners focus on making their business a success by offering a suite of benefits and tools focused on health, wealth, life and work, all designed to support employee growth and development and assist build a better workforce.
Throughout the year, compliance and risk specialists from a PEO like ADP TotalSource stay current with the thousands of annual changes to regulations so businesses can focus even more on driving success. For example, under the Affordable Care Act (ACA), applicable large employers (ALEs) must offer minimum essential coverage that meets affordability and minimum value requirements.
Automatic Data Processing, Inc., together with its auxiliaries, provides business process outsourcing services worldwide. The company operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled human capital administration (HCM) solutions, counting payroll services, benefits administration services, recruiting and talent administration solutions, human resources administration solutions, time and attendance administration solutions, insurance services, retirement services, and payment and compliance solutions.
Ambarella Inc (NASDAQ:AMBA)’s shares dropped -6.04% to $68.47.
Ambarella, Inc. (AMBA), a leading developer of low-power, HD video compression and image processing semiconductors, recently declared that Dr. Fermi Wang, CEO, and George Laplante, CFO, will present at the Deutsche Bank Technology Conference on Wednesday, Sept. 16th at The Cosmopolitan hotel in Las Vegas.
Ambarella, Inc. develops semiconductor processing solutions for video that enable high-definition (HD) video capture, sharing, and display worldwide. The companys system-on-a-chip designs integrated HD video processing, image processing, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption. Its solutions enable the creation of video content for wearable sports cameras, automotive aftermarket cameras, professional and consumer Internet Protocol (IP) security cameras, telepresence cameras, and unmanned aerial vehicles in the camera market; and manage IP video traffic, broadcast encoding and transcoding, and IP video delivery applications in the infrastructure market.
At the end of Wednesday’s trade, CA, Inc. (NASDAQ:CA)‘s shares dipped -2.46% to $27.39.
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at CA, Inc. (“CA” or the “Company”).
The investigation focuses on the role of the Company’s officers and directors in defrauding the General Services Administration (“GSA”) and other federal agencies in connection with the defective pricing of computer software products and maintenance. Specifically it has been alleged that the Company offered inaccurate commercial discounting information to the GSA during contract negotiations and that, as a result, the GSA’s contract discount was lower than it otherwise would have been. In addition, it is alleged that the Company failed to apply the full negotiated discount in some instances and to pay sufficient rebates following the contract’s price reduction clause.
As a result of these allegations, the Company now faces a whistleblower suit in which the plaintiff seeks excess of $100 million. Additionally, the GSA, based on these allegations issued a show cause letter to the Company, which may result in CA becoming ineligible from receiving any future government contracts. Government contracts account for 8% of the Company’s revenue and their termination “could materially adversely affect [the Company’s] business, financial condition, operating results and cash flow” according to the Company’s most recent annual report.
CA, Inc. provides information technology (IT) administration software and solutions that assist organizations plan, develop, manage, and secure applications and IT infrastructure in the United States and internationally. The company operates through three segments: Mainframe Solutions, Enterprise Solutions, and Services. The Mainframe Solutions segments’ products portfolio comprise systems and database administration, automation, application development, and security; and technologies comprise CA Application Lifecycle Conductor and vStorm Connect Data Streaming for big data.
Spirit Airlines Incorporated (NASDAQ:SAVE), ended its Wednesday’s trading session with -1.10% loss, and closed at $50.58.
The “Hot” in “Hotlanta” refers to the many wonderful activities to do in Atlanta. Los Angeles is world renowned for its night life, beaches, and beautiful people. Now, more people can live it up in Atlanta and Los Angeles while saving money because, starting recently, Spirit Airlines (SAVE) is offering convenient nonstop service that makes traveling between Atlanta and Los Angeles more affordable than ever.
“Spirit continues to grow in Atlanta and Los Angeles, liberating these cities from their high airfares,” said Mark Kopczak, Spirit Airlines’ Vice President of Network Planning. “We like to listen to what our customer want and make it happen.”
As part of the planned growth in these cities, Spirit will also start new service from Atlanta to/from Boston and Fort Myers on September 10, 2015. Spirit will also offer nonstop service from Los Angeles to/from Oakland starting on November 12, 2015. This expansion will allow more travelers to take advantage of Spirit’s Bare Fare(TM) with Frill Control(TM).
Spirit Airlines, Inc. provides low-fare airline services. As of June 30, 2015, it operated about 360 daily flights to 57 destinations in the United States, Caribbean, and Latin America. As of December 31, 2014, the company had a fleet of 65 Airbus single-aisle aircraft comprising 29 A319s, 34 A320s, and 2 A321s. Spirit Airlines, Inc. was founded in 1964 and is headquartered in Miramar, Florida.
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