On Wednesday, VeriFone Systems Inc (NYSE:PAY)’s shares inclined 1.79% to $38.94.
Visa Inc. (NYSE:V), and Verifone (PAY), a leader in point of sale payments, recently declared a partnership that will enable merchants to offer their customers a more streamlined, secure purchase experience across digital and face-to-face commerce environments, often referred to as omni-channel commerce. As part of the partnership, the companies will integrate industry leading platforms: Verifone will connect its point of sale gateway to Visa’s CyberSource global merchant payment administration platform. This will provide merchants with a single platform to protect customer payment data, mitigate fraud, and integrate digital and offline payment systems.
Securely and efficiently managing payments across digital and face-to-face sales channels are critical success factors for retailers as they seek to keep consumer payment data safe. This trend is confirmed by a recent study from CyberSource and Retail Systems Research, which reveals the following as the top three payment concerns among retailers:
- Protecting customer payment data and managing fraud (59%)
- Integrating new digital payments and legacy payment systems (57%)
- Making it easier for customers to pay with online and mobile devices (52%)
Additionally, as the U.S. shifts to EMV chip-enabled payments to assist enhance consumer payment security and combat fraud, retailers are also deploying chip-compatible point of sale solutions. The CyberSource-Verifone partnership accelerates merchants’ ability to adopt more secure chip technology.
VeriFone Systems, Inc. designs, markets, and services electronic payment solutions at the point of sale (POS) worldwide. It provides countertop electronic payment systems that accept card payment options, such as NFC, mobile wallets, chip and PIN, and contactless payments, in addition to support credit and debit card, EBT, EMV, and other PIN-based transactions; and a portfolio of application libraries and development tools. The company also offers multimedia consumer facing POS devices; unattended and self-service payment solutions designed to enable payment transactions in self-service environments; and integrated electronic payment systems that combine electronic payment processing, fuel dispensing, and ECR functions, in addition to payment systems for integration.
U.S. Silica Holdings Inc (NYSE:SLCA)’s shares gained 2.40% to $31.98.
U.S. Silica Holdings Inc (SLCA) declared that members of the administration team will take part in the following investor conferences during the second quarter of 2015:
William Blair & Company 2015 Growth Stock Conference
June 9, 2015
Four Seasons Hotel – Chicago, IL
Oppenheimer Energy 1-on-1 Conference 2015
June 9, 2015
Sofitel Hotel – New York, NY
Barclays High Yield Bond & Syndicated Loan Conference
June 11, 2015
The Broadmoor – Colorado Springs, Colorado
U.S. Silica Holdings, Inc. produces and sells commercial silica in the United States. It operates through two segments, Oil & Gas Proppants, and Industrial & Specialty Products. The company offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery, in addition to sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products. It also provides ground commercial silica products for use in plastics, rubber, polishes, cleansers, paints, glazes, textile fiberglass, and precision castings; and fine ground silica for use in premium paints, specialty coatings, sealants, silicone rubber, and epoxies.
At the end of Wednesday’s trade, Dover Corp (NYSE:DOV)‘s shares dipped -0.01% to $75.80.
Dover Corp (DOV) declared that President and Chief Executive Officer, Robert A. Livingston will be presenting at the William Blair Growth Stock Conference in Chicago, Illinois on Tuesday, June 9 at 7:30 a.m. Central time.
Dover Corporation manufactures and sells a range of equipment and components, specialty systems, and support services in the United States. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of oil, natural gas liquids, and gas to drilling and production, bearings and compression, and automation end markets.
Cytori Therapeutics Inc (NASDAQ:CYTX), ended its Wednesday’s trading session with 0.13% gain, and closed at $0.671.
Cytori Therapeutics Inc (CYTX) reached a four year, $17.7 million term loan with Oxford Finance LLC. The loan provides for an interest-only payment period of at least 12-months with the potential to be extended up to 18-months. Proceeds were used to prepay Cytori’s existing loan with Oxford Finance LLC and Silicon Valley Bank. The loan was funded in full on May 29, 2015 and matures June 1, 2019.
Select terms of the loan comprise the following:
- Interest rate of 8.95% (comprised of three-month LIBOR rate with a floor of 1.00% plus 7.95%) contrast with 9.75% under the prior loan
- Interest-only payments for 12-months followed by 36 equal monthly principal and interest payments
- The interest-only payment period may be extended by six months through December 2016 should Cytori achieve positive US ACT-OA clinical trial data or close a licensing, partnership or similar transaction on terms acceptable to the lenders by May 31, 2016
The minimum liquidity covenant was reduced to $5 million from about $8 million (derived following a formula under the prior loan)
- The loan is secured by substantially all of Cytori’s existing and after-attained assets, not taking into account Cytori’s intellectual property assets, which are subject to a negative pledge
- Cytori issued warrants to Oxford Finance LLC for the right to purchase an aggregate of 1,416,618 shares of the Company’s common stock, starting on November 30, 2015, at an exercise price per share of $0.6872 for 10 years
Cytori Therapeutics, Inc., a biotechnology company, develops cell therapeutics for specific diseases and medical conditions. The company primarily provides Cytori Cell Therapy comprising of a heterogeneous population of specialized cells, counting stem cells for the treatment of patients with scleroderma hand dysfunction, orthopedic disorders, cardiovascular disease, urinary incontinence, and thermal burns combined with radiation injury.
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