On Thursday, Shares of Frontier Communications Corporation (NASDAQ:FTR), lost -7.06% to $5.
Frontier Communications Corporation, declared that it has priced its formerly declared registered offerings of $750 million of common stock, par value $0.25 per share, at a public offering price of $5.00 per share, and $1.750 billion of 11.125% Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share, at a public offering price of $100.00 per share. Following the offerings, Frontier has granted the underwriters a 30-day option to purchase from Frontier up to an additional 15,000,000 shares of common stock and up to an additional 1,750,000 shares of Mandatory Convertible Preferred Stock, in each case at the public offering price per share. The offerings are predictable to close on or about June 10, 2015, subject to customary closing conditions.
Frontier intends to use the proceeds from the offerings to finance a portion of the cash consideration payable in connection with Frontier’s formerly declared acquisition of the wireline properties of Verizon Communications Inc. in California, Florida and Texas and to pay related fees and expenses. The acquisition is predictable to close in the first half of 2016. The closings of these offerings are not conditioned on each other or on the closing of the acquisition.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States.
Shares of Atmel Corporation (NASDAQ:ATML), inclined 1.68% to $9.10, during its last trading session.
Atmel Corporation, declared its first-ever wearable solution integrating Atmel’s broad portfolio. Atmel designed a 7cm x 9cm demonstrator around a smart badge concept, combining low-power embedded processing, wireless, touch and sensor technologies to create a turnkey system. By leveraging industry-leading Atmel technology, this complete system solution makes it simple to demonstrate virtually any type of wearable application.
This demonstrator brings together hardware and software technologies, from Atmel and partners, into a highly optimized and comprehensive out-of-the-box solution that addresses the complex requirements for the wearable market while bringing their designs quickly to market. Users can wear it around their neck and display different applications (compass, watch, spirit level, slide show, battery gauge) specialized for the Andriod operating system (OS) and made by Adeneo Embedded, an Atmel partner. Based on Atmel’s embedded connectivity, the demonstrator can interact with other Android mobile phones. The badge uses a 3.5-inch display from Precision Design Associates (PDA Inc.) and embeds MEMS and sensor technology from Bosch Sensortec in addition to memory multi-chip package from Micron combining 4Gb of LPDDR2 + 4GB of eMMC in a single package demonstrator running on the Android KitKat OS. Atmel is also developing a software framework that will allow various software partners to plug in their software and seamlessly work together.
According to the most recent forecast data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker, vendors will ship a total of 45.7 million units in 2015, up a strong 133.4 percent from the 19.6 million units shipped in 2014. By 2019, total shipment volumes are forecasted to reach 126.1 million units, resulting in a five-year compound annual growth rate (CAGR) of 45.1 percent.
Atmel Corporation designs, develops, manufactures, and sells semiconductor integrated circuit products primarily in the United States, Asia, Europe, South Africa, and Central and South America. It operates in four segments: Microcontroller, Nonvolatile Memory, Automotive, and Multi-Market and Other.
At the end of Thursday’s trade, Shares of Denbury Resources Inc. (NYSE:DNR), lost -3.44% to $7.02, as Crude prices tumbled about 2 percent for a second day on Thursday ahead of an OPEC decision likely to keep the market oversupplied and on worry rising European bond yields could tighten the availability of speculative money that had been invested in oil.
The Organization of the Petroleum Exporting Countries, meeting in Vienna, is predictable to affirm on Friday an output target of 30 million barrels per day, ignoring calls from some producers to cut supply and support prices. OPEC actually produces about 2 mill lion bpd above the target. Reuters Reports.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide. It holds properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
Finally, Youku Tudou Inc. (NYSE:YOKU), ended its last trade with 0.03% gain, and closed at $29.97, after the Chinese Internet media platform declared that it reached an exclusive marketing agreement with The Walt Disney Co. (DIS).
Youku will become the exclusive online movie marketing platform for Disney’s Marvel super hero franchises in China.
The deal comprises rights to online ticketing, live events and original programming and promotional trailers.
“We are committed to expanding our media and entertainment ecosystem by working with strong partners,” said Youku CEO Victor Koo.
Youku Tudou Inc. operates as an Internet television company in the People’s Republic of China. Its Internet television platform enables users to search, view, and share video content across various devices. The company’s services for users comprise online video content library comprising primarily of professionally produced content, counting television serial dramas, movies, current event reports, variety shows, and music videos.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
