On Monday, International Business Machines Corp. (NYSE:IBM)’s shares declined -1.21% to $165.38.
IBM ( IBM) declared its partnership with China National Building Materials Group Corporation’s (CNBM), OKorder.com, China’s leading B2B online commerce exchange that serves thousands of suppliers and buyers around the world, to deliver a seamless experience regardless of borders.
Cross-border e-commerce is gradually becoming the key growth point of the e-commerce market in China, according iResearch. To meet the global market demands that knows no borders, boundaries or time zones, manufacturers are under constant pressure to execute millions of orders with a new level of speed and accuracy. One error can not only result in the loss of a contract or business but can also impact a company’s brand reputation.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support. Its Global Business Services segment offers consulting and systems integration services for strategy and transformation, application innovation services, enterprise applications, and smarter analytics; and application administration, maintenance, and support services.
Masco Corporation (NYSE:MAS)’s shares dropped -1.31% to $27.06.
Masco Corporation (MAS) declared that its Board of Directors has approved the formerly-declared spin-off of TopBuild Corp. (NYSE:BLD), which will, upon completion of the spin-off, hold the assets and operations of Masco’s Installation and Other Services businesses.
In the spin-off, Masco will distribute 100% of the shares of common stock of TopBuild. The distribution of TopBuild shares is predictable to be accomplished after the New York Stock Exchange market closing on June 30, 2015, with Masco stockholders receiving one share of TopBuild common stock for every nine shares of Masco common stock held at the close of business on the record date of June 19, 2015. Following the distribution of TopBuild common stock, TopBuild will be an independent, publicly-traded company. TopBuild has received approval for the listing of its common stock on the New York Stock Exchange under the symbol “BLD.”
Masco stockholders who hold their shares through a brokerage account will receive a credit to their brokerage account reflecting their ownership of TopBuild common stock. Masco stockholders who hold their shares in certificated form will receive a book-entry account statement reflecting their ownership of TopBuild common stock and should retain their Masco stock certificates. Fractional shares of TopBuild common stock will not be distributed. Any fractional share of TopBuild common stock otherwise issuable to a Masco stockholder will be sold in the open market on such stockholder’s behalf, and such stockholder will receive a cash payment for the fractional share based on the stockholder’s pro rata portion of the net cash proceeds from sales of all fractional shares.
Masco Corporation manufactures, distributes, and installs home improvement and building products worldwide. The company’s Cabinets and Related Products segment provides cabinetry for kitchen, bath, storage, home office, and home entertainment applications; and kitchen countertops, and integrated bathroom vanity and countertop solutions. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bathing units, and toilets; acrylic tub and shower systems, bath and shower enclosure units, shower trays, and laundry tubs, in addition to spas; and brass and copper plumbing system components, and other plumbing specialties.
At the end of Monday’s trade, Resolute Forest Products Inc (NYSE:RFP)‘s shares surged 0.26% to $11.63.
Resolute Forest Products Inc. (RFP) declared a major decision to build a state-of-the-art facility to manufacture at-home, premium private label tissue paper, counting bath and towel.
Resolute’s tissue paper machine and converting operations will be built at the Calhoun mill in Tennessee . This $270 million project represents the largest investment made by Resolute since 2010. At full capacity, the new tissue and converting facilities will produce about 60,000 metric tons per year of at-home, premium bath tissue and towel, focused on the growing private label market. With market feasibility studies, technology selection and project engineering nearly complete, construction is predictable to start shortly, with ramp-up predictable to start in the first quarter of 2017. The tissue machine will use excess slush pulp over and above the additional dried market pulp capacity associated with the formerly declared continuous pulp digester project.
Unlike many other paper products, tissue demand has grown steadily for the past 20 years, and it is predictable to continue growing in the future. Recently, the at-home segment accounts for the majority of all tissue sold in North America . Over the next ten years, most of the sector’s growth is predictable to be in the premium quality tier, Resolute’s target market.
The decision to enter the tissue market and to build at its existing Calhoun site further capitalizes on Resolute’s unique ability to capture synergies by:
- integrating Resolute’s high-quality, low-cost, excess slush pulp for 100% of the tissue machine’s fiber requirement;
- utilizing the full capacity of the tissue machine in a state-of-the-art converting operation;
- taking advantage of capital expenditure and fixed cost efficiencies by extending existing infrastructure;
- having access to an attractive and cost-competitive fiber basket; and
- being ideally located to serve Eastern U.S. markets.
The Calhoun mill also benefits from a strong working relationship with local labor unions. This investment will create 105 new jobs at the mill, in addition to the 50 positions associated with the continuous pulp digester.
Resolute Forest Products Inc. operates in the forest products industry in the United States, Canada, and South Korea. It operates through four segments: Newsprint, Specialty Papers, Market Pulp, and Wood Products. The Newsprint segment produces newsprint and sells to newspaper publishers all over the world and also to commercial printers in North America for uses such as inserts and flyers.
salesforce.com, inc. (NYSE:CRM), ended its Monday’s trading session with -2.35% loss, and closed at $71.82.
Salesforce (CRM), the Customer Success Platform and world’s #1 CRM company, declared that Salesforce executives will take part in the following investor events:
Wednesday, June 10, 2015: Tyler Prince, Executive Vice President, Worldwide Alliances and Channels, will take part in the William Blair Growth Stock Conference at 8:40 a.m. (PDT) / 10:40 a.m. (CDT) in Chicago, IL.
Wednesday, June 17, 2015: Mark Hawkins, Chief Financial Officer, Scott McCorkle, Chief Executive Officer, Marketing Cloud, and Michael Lazerow, Chief Strategy Officer, will take part in a question and answer session at Salesforce Connections at 11:00 a.m. (PDT) / 2:00 p.m. (EDT) in New York, NY.
salesforce.com, inc. provides enterprise cloud computing solutions, with a focus on customer relationship administration to various businesses and industries worldwide. The company offers enterprise cloud computing apps and platform services, counting Sales Cloud for sales force automation, which enables companies to store data, access accurate customer and prospect information, track leads and progress, forecast opportunities, and collaborate around any sale on desktop and mobile devices; Service Cloud that enables companies to connect address customers service and support needs; and Marketing Cloud, which enables companies to map customer journeys to digital marketing interactions through email, mobile, social, Web, and connected products.
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