On Thursday, General Dynamics Corporation (NYSE:GD)’s shares declined -0.20% to $141.56.
The U.S. Navy has awarded a $321.7 million contract option to General Dynamics Electric Boat to provide planning yard work, engineering and technical support for nuclear submarines. Electric Boat is a wholly owned partner of General Dynamics (GD).
Under this option, Electric Boat will provide design, engineering, material and logistics support, and research and development activities for active U.S. submarines and submersibles. Electric Boat also will provide information services, planning, scheduling and technical support for submarine maintenance and modernization activities, training and facility support, and affordability/cost reduction support.
The contract will be worth about $1.5 billion over five years if all options are exercised and funded.
General Dynamics Corporation operates as aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, manufactures, and outfits business-jet aircrafts; provides aircraft services, such as maintenance, repair work, fixed-based operations, and aircraft administration services; and performs aircraft completions for aircraft. T
Lattice Semiconductor (NASDAQ:LSCC)’s shares gained 2.46% to $4.16.
MHL Consortium declared the appointment of Gordon Hands as president. Mr. Hands will oversee the day-to-day operations of the Consortium, focusing on the continued promotion and adoption of the superMHL™ and MHL® specifications worldwide.
Mr. Hands is a seasoned executive with more than 20 years of engineering and marketing experience in the semiconductor industry. Most recently, he served as the director of marketing at Lattice Semiconductor where he successfully launched several important product families. In addition, he led Lattice’s USB Type-C initiative to establish Lattice as a planned enabler of this emerging, smart connectivity standard. He also managed the definition and execution of Lattice’s strategy to enter the mobile consumer space.
The MHL Consortium would like to thank Rob Tobias for his dedication and contribution in advancing the MHL standard. During his tenure, Rob played an instrumental role in taking the MHL specification to the next level with the release of superMHL—the first A/V specification to support up to 8K 120 fps video resolution. He also continued to grow MHL’s adopter base to further expand the product ecosystem.
Lattice Semiconductor Corporation designs, develops, and markets programmable logic products and related software in Asia, Europe, and the Americas. It offers products based on field programmable gate arrays (FPGAs) and complex programmable logic devices (CPLDs) architectures.
At the end of Thursday’s trade, RR Donnelley & Sons Co (NASDAQ:RRD)‘s shares dipped -1.58% to $15.59.
RR. Donnelley & Sons Company (RRD) declared that it was recognized with 37 awards in the 2015 Gold Ink Award competition, one of the print industry’s most prestigious competitions open to all print providers worldwide. This year’s Gold Ink Award winners were selected from about 1,000 entries presented in nearly 50 different categories. Winning pieces surpassed their competitors based on print quality, technical difficulty and overall visual effect. Now in its 28th year, a panel of distinguished graphic arts professionals judged this competition over the course of four days.
Sixteen RR Donnelley facilities produced the pieces that were recognized with an award across five primary categories, counting 15 awards in Commercial Printing, 12 awards in Books, five awards in Magazines, three awards in Catalogs, and two awards in Packaging.
R.R. Donnelley & Sons Company provides integrated communications solutions to private and public sector clients in the United States and internationally. The company operates through Publishing and Retail Services, Variable Print, Planned Services, and International segments. Its product and service offerings comprise magazines, catalogs, retail inserts, books, directories, and packaging products; commercial and digital print, direct mail, office products, labels, statement printing, and forms; and logistics services, financial print products and related services, print administration products, and digital and creative solutions.
Post Holdings Inc (NYSE:POST), ended its Thursday’s trading session with 1.35% gain, and closed at $69.73.
Post Holdings, Inc. (POST), a consumer packaged goods holding company, recently declared it will close its Dymatize manufacturing facility in Farmers Branch, Texas and permanently transfer production to third party facilities under co-manufacturing agreements. The decision will impact about 115 employees. Post has committed to providing severance and transition assistance to all affected employees.
As a result of plant operational and quality issues, the manufacturing facility has ceased production, resulting in a write-off of about $9.2 million of unsalable inventory. Final closure of the facility is predictable to be accomplished by December 1, 2015, and through Dymatize’s strong relationships with certain co-manufacturers, production of the Dymatize products by third parties has begun.
In connection with the closure, Post anticipates to incur pretax charges of about $11 million to $16 million, which will be treated as adjustments for purposes of calculating Adjusted EBITDA and other non-GAAP measures. These charges comprise about $4 million to $6 million for severance, retention and other plant closure costs and a reserve of about $7 million to $10 million for usable inventory rendered less than fully recoverable by the decision to close the manufacturing facility. These charges are predictable to be incurred primarily in Post’s fourth quarter of fiscal 2015, of which about $2.5 million to $3.5 million will be incurred in fiscal 2016.
Post Holdings, Inc. manufactures, markets, and sells refrigerated, active nutrition, and private label food products in the United States and Canada. The company operates through five segments: Post Foods, Michael Foods, Active Nutrition, Private Brands, and Attune Foods. It offers egg products, refrigerated potato products, and cheese and other dairy case products; branded and private label natural and organic cereals, granola, and snacks; dry pasta, peanut butter and other nut butters, dried fruits, and baking and snacking nuts; and high protein shakes, bars, and powders, in addition to nutritional supplements.
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