On Friday, XO Group Inc (NYSE:XOXO)’s shares declined -1.29% to $16.03.
XO Group Inc (XOXO) issued a press release announcing its financial results as of and for the quarter ended March 31, 2015. A copy of the Company’s press release announcing these financial results is attached as Exhibit 99.1 hereto, and is incorporated by reference into this report. The information comprised of in this Current Report on Form 8-K (counting Exhibit 99.1 hereto) that is furnished following this Item 2.02 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference into such filing.
XO Group Inc. provides consumer Internet multiplatform media services to the wedding, pregnancy and parenting, and nesting markets. It operates a network of Websites under various brands, such as The Knot, which offers wedding resources through wedding Website and mobile apps, national and local wedding magazines, and nationally published books; The Bump, a pregnancy and parenting brand that provides personalized information, content, and tools for anyone at any stage of their journey from fertility to pregnancy and parenting through the toddler years; and The Nest, which focuses on young nesters setting up homes and navigating new lives together.
ARM Holdings plc (ADR) (NASDAQ:ARMH)’s shares dropped -0.30% to $52.48.
ARM Holdings plc (ADR) (ARMH) has signed an expansive long-term graphics technology agreement with Samsung to enable the creation of next generation devices capable of delivering even more compelling visual experiences. The subscription license covers ARM® Mali™ graphics processing units (GPUs) counting the Mali-T820/830/860, the recently declared Mali-T880 and all future Mali GPUs.
This long term contract with ARM allows Samsung to continue creating innovative products addressing a range of price and performance points to meet the evolving needs of multiple markets. Samsung is already utilizing ARM Mali technology in SoCs powering an impressive range of leading consumer products.
ARM Holdings plc, together with its auxiliaries, designs microprocessors, physical intellectual property (IP), and related technology and software. The company also sells development tools that enhance the performance of embedded applications. Its products comprise microprocessor cores that comprise of specific functions, such as video, graphics, and display technology IP; and physical IP components for the design and manufacture of integrated circuits, which comprise embedded memory, standard cell, and input/output components.
At the end of Friday’s trade, Moody’s Corporation (NYSE:MCO)‘s shares dipped -0.04% to $108.71.
Moody’s Corporation (MCO) has recently updated its methodology for the financial statement adjustments it uses in rating analysis for non-financial corporates globally. The main changes are revised standard adjustments for operating leases and refinement of the criteria for when adjustments are made for securitizations and factoring arrangements.
The updated methodology, “Financial Statement Adjustments in the Analysis of Non-Financial Corporations,” is now accessible on www.moodys.com and can be accessed via this link: http://www.moodys.com/viewresearchdoc.aspx?docid=PBC_181430. The update follows a market consultation initiated via a Request for Comment that was published in April 2015.
The most noteworthychanges relate to Moody’s approach to operating leases, placing greater emphasis on capitalizing the minimum legal obligation under lease commitments, which the rating agency estimates by a present value calculation. Moody’s previous approach to capitalizing operating leases derived a debt adjustment for most issuers from a multiple of annual rent. The multiples Moody’s used varied by sector and were established to align with a scenario in which a company borrows to buy assets rather than leasing them. The lower adjusted debt amounts that result in most cases under Moody’s updated approach align with a view that companies leasing assets have more flexibility in their legal and financial arrangements than when they incur debt to purchase the assets.
Under the updated methodology, Moody’s will continue adjusting debt by calculating a present value for each company. The rating agency will use this amount or the amount derived from the use of a sector multiple applied to annual rent. However, present value will be the basis for the capitalized debt amount for many more companies than before because the sector multiples will be lower than they were formerly in almost all cases. Ranging from 3x to 6x, rather than 5x to 8x, the new multiples will serve as a minimum floor to the present value calculation because Moody’s anticipates that companies with very short lease tenors will renew most leases.
Moody’s Corporation provides credit ratings; and credit, capital markets, and economic related research, data, and analytical tools worldwide. The company operates through Moody’s Investors Service and Moody’s Analytics segments. The Moody’s Investors Service segment publishes credit ratings on debt obligations and entities that issue such obligations comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs. This segment provides ratings in about 120 countries.
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