On Wednesday, Shares of Axion Power International Inc. (NASDAQ:AXPW), surged 24.14% to $0.18.
The top performers on the NASDAQ Composite were Synergy Pharmaceuticals Inc (NASDAQ:SGYP) which rose 67.72% to 7.782, Joes Jeans Inc (NASDAQ:JOEZ) which was up 48.69% to settle at 0.233 and Axion Power International Inc (NASDAQ:AXPW) which gained 24.14% to close at 0.180.
Axion Power, declared that on Saturday it signed a binding Letter of Intent (LOI) for a technology development and licensing program with LCB International, Inc. (“LCB”). LCB is a privately owned entity incorporated in the British Virgin Islands with its principal business office in Shanghai, China.
The LOI defines and confirms the intent of the parties to execute the final agreements within 60 days of the signing the LOI. These agreements will grant LCB the right to manufacture and sell PbC batteries and other Axion products on an exclusive basis in the People’s Republic of China, Taiwan, Macao and Hong Kong. Axion will receive a non-refundable payment of $250,000 right away, and further staged payments after final agreements are signed. Under the terms of the LOI, Axion would receive an aggregate of up to $10 million over a period of two years in a combination of technology license fees, the sale of convertible preferred stock and senior convertible notes. Axion would also be paid royalties for the longer of the last to expire patent licensed or up to 15 years.
Axion Power International, Inc. designs, develops, manufactures, and sells advanced energy storage devices, components, and systems based on its patented PbC Technology. Its PbC batteries and battery components are used in various energy system storage functions. The company was founded in 2003 and is based in New Castle, Pennsylvania.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM), inclined 0.14% to $66.55, during its last trading session.
In a report presented to the DC-based SEC on June 17, 2015, Derek Aberle, President of QUALCOMM, Inc. (NASDAQ:QCOM) and an insider, made a sale of 14,794 shares of the corporation for about $981,465 U.S Dollars at average stock price per share of $66.3. Derek Aberle now owns 48,168 shares or 0.00% of the company’s market capitalization.
On June 10, Qualcomm Incorporated, declared the appointment of Frank Meng as chairman of Qualcomm China and the departure of Xiang Wang, senior vice president and president of Qualcomm Greater China. Meng’s appointment will be effective June 15, 2015 and he will report directly to Derek Aberle, president of Qualcomm Incorporated.
Meng has 30 years of telecommunications experience, eight of those with Qualcomm, which comprised of serving as senior vice president and president of Qualcomm Greater China from 2008 to 2010. Most recently, Meng was President of 21Vianet Group in Beijing, where he was responsible for planned planning, branding and marketing, government affairs and planned initiatives. Preceding to 21Vianet Group, he was with Motorola Mobility in Beijing where he served as senior vice president and president of Greater China, responsible for overseeing all aspects of Motorola’s Mobile Devices business and sales operations for China, Hong Kong and Taiwan.
Meng holds a bachelor’s degree of science in Microwave and Fiber Optic Communications from Beijing University of Posts and Telecommunications, and a master’s degree of science in Electrical Engineering from the Polytechnic University of New York.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, and the United States. The company operates through three segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Planned Initiatives (QSI).
Finally, Noble Corporation plc (NYSE:NE), ended its last trade with 0.37% gain, and closed at $16.24.
Oil prices swung over a wide range but ended little changed Wednesday, as a dovish Federal Reserve statement assisted the market recover from a selloff after disappointing U.S. stockpile data.
Light, sweet crude for July ended the day down 5 cents, or 0.1%, at $59.92 a barrel on the New York Mercantile Exchange, after ranging more than 4% between intraday highs and lows contrast with Tuesday’s settlement, according to WSJ.
Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It owns and operates a fleet of mobile offshore drilling units. As of December 31, 2014, the company operated a fleet of 15 jackups, 9 drillships, and 8 semisubmersibles, counting 1 high-specification, harsh environment jackup under construction.
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