On Friday, Shares of Frontier Communications Corp (NASDAQ:FTR), gained 3.39% to $4.88.
Frontier Communications Corporation, and the International Brotherhood of Electrical Workers (IBEW) Local 543 are happy to declare the signing of a contract that will benefit IBEW-represented employees in California and Frontier’s future customers in the state. The agreement is an important step forward in the process to complete Frontier’s planned $10.54 Billion acquisition of Verizon’s wireline business and assets in California, Florida and Texas. The IBEW supports the projected acquisition and believes it is in the public interest and the interest of its members. The acquisition is predictable to close at the end of the first quarter 2016.
IBEW Local 543 represents about 200 Verizon workers in California; about 80,000 workers at private employers and public utilities in the state are represented by various IBEW locals. This agreement provides the IBEW Local 543-represented workforce at Verizon assurances for the acquisition and how it will affect them. It also comprises operational benefits to allow Frontier to implement its local engagement model in the new California markets. Reaching this agreement early allows these dedicated men and women to focus on ongoing to deliver state-of-the-art broadband, voice and video services to Frontier’s future residential and business customers.
Frontier Communications Corporation is a communications company. The Company is engaged in providing services to rural areas and small and medium-sized towns and cities in the United States. It offers a range of voice, data and video services and products. The Company offers a portfolio of communications services for residential and business customers in each of its markets.
Shares of eBay Inc (NASDAQ:EBAY), inclined 2.49% to $25.53, during its last trading session.
eBay, declared the appointment of Paul Pressler to its board of directors. As a director on eBay’s Board, Mr. Pressler will serve on the Audit Committee in addition to the Corporate Governance and Nominating Committee.
“I am very happy to welcome Paul to eBay’s Board of Directors,” said Devin Wenig, President and CEO of eBay. “As an independent director, Paul brings valuable experience managing major retail and consumer brands in addition to noteworthy leadership and financial expertise to eBay’s Board.”
“It is a particularly exciting time to be joining eBay as the company embarks on its next chapter,” said Mr. Pressler. “eBay is an e-commerce pioneer and a leading global commerce player, and I look forward to working with eBay’s leadership team and my fellow directors as the company sets its sights on the future.”
eBay Inc.(eBay) is a global technology company. The Company has created an open source platform that provides software developers and merchants access to its applications programming interfaces (APIs), to develop software and solutions for commerce. The Company enables commerce through three segments: Marketplaces, Payments and Enterprise. The Company’s Marketplaces segment comprises its ebay.com platform and its localized counterparts and its other online platforms, such as its online classifieds sites and StubHub.
Shares of Corning Incorporated (NYSE:GLW), inclined 1.25% to $17.05, during its last trading session.
Xtera Communications, Inc., a leading global provider of optical networking solutions, and State Grid Information & Telecommunication (SGIT) of China, the telecommunication arm of the world’s largest power grid builder and operator, declared the demonstration of record unrepeatered transmission distances using Xtera’s commercial Wise Raman™ solution and large effective area ultra-low loss fiber from Corning Incorporated (NYSE: GLW), a leading provider of optical fibers. With the support of Accelink, Xtera’s partner in China, 100G and 10G transmissions were demonstrated over 627 km and 645 km, respectively, with no active equipment between the end points of the links.
These industry’s leading achievements outline the unrivaled unrepeatered reach performance obtained by combining Xtera’s Wise Raman™ optical amplification solution and Corning® Vascade® EX2000 optical fiber. Both products are commercially available recently and already deployed in the field.
Ultra-long, “thin” (low-capacity) unrepeatered transmission systems provide a cost-effective and simpler-to-operate solution over a repeatered solution for many applications, counting subsea links connecting sparsely populated islands and communication links to offshore oil and gas platforms, and over power utility grids to remote areas.
Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company creates and makes keystone components that enable systems for consumer electronics, mobile emissions control, optical communications and life sciences.
Finally, Vereit Inc (NYSE:VER), ended its last trade with 0.52% gain, and closed at $7.77.
Vereit, declared that Michael J. Bartolotta, CPA, has been named Executive Vice President, Chief Financial Officer and Treasurer effective October 5, 2015.
Mr. Bartolotta most recently served as Executive Vice President and CFO for global real estate services firm Cushman & Wakefield. A 35-year veteran of the commercial real estate and financial industries, Mr. Bartolotta has extensive experience in administration, business leadership and working with boards of directors, financial institutions and investors, in addition to an established track record of success in improving finance, IT and general business operations.
“Having worked closely with Michael Bartolotta at Cushman & Wakefield, I was consistently impressed with his ability to manage the financial operations of a company that was navigating a series of transitions. Mike is a true business leader and I am excited to again have the opportunity to work with him at VEREIT,” said Glenn J. Rufrano, Chief Executive Officer of VEREIT. Rufrano noted that outgoing CFO Michael Sodo will assist with the transition, and said, “I also want to thank Mike Sodo for his contributions as he assisted return the Company to financial good-standing.”
VEREIT, Inc., formerly American Realty Capital Properties, Inc., is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets, counting about 4,645 properties totaling 101.8 million square feet. In addition, the Company manages real estate investments on behalf of the Cole Capital non-traded real estate investment trust (REITs).
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