During Wednesday’s current trade, TTM Technologies, Inc. (NASDAQ:TTMI)’s shares dropped -1.67%, to $10.60.
TTM Technologies Inc. (TTMI) declared that the company has accomplished its acquisition of Viasystems Group, Inc. With pro forma 2014 combined annual revenue of $2.5 billion, TTM is now one of the world’s largest and most diversified PCB manufacturers with a broad product offering and the improved ability to support customers’ product lifecycles from engineering support to prototype development through final volume production.
The acquisition, which has an implied value of about $950 million, further diversifies and broadens TTM’s market presence and customer base, particularly with Viasystems’ strength in the growing automotive sector. At the same time, Viasystems brings to TTM complementary positions in the aerospace and defense, medical, industrial and instrumentation, and networking/telecom end markets. This raised end market diversification is predictable to reduce the impact of the seasonality inherent in the cellular phone end market.
TTM Technologies, Inc., together with its auxiliaries, provides various printed circuit board (PCB) products and backplane assemblies worldwide. The company offers high density interconnects, conventional, flexible, and rigid-flex PCBs, in addition to backplane assemblies and IC substrates. It also offers various services, such as design for manufacturability support during new product introduction stages; PCB layout design; simulation and testing services; quick turnaround production; and drilling and routing services.
Chico’s FAS, Inc. (NYSE:CHS)’s shares jumped 0.78% to $16.79, during the current trading session Wednesday’s.
Chico’s FAS, Inc. (CHS) declared that David F. Dyer has informed the Board of Directors of his intention to retire as President and CEO after the conclusion of the 2015 fiscal year, in the spring of 2016. To ensure an orderly transition, he will continue in his present role until a successor is designated. After a successor is named, Mr. Dyer will remain on the Board in the newly-created role of Vice Chairman through his current term, which ends at the Company’s Annual Meeting of Shareholders in June 2016.
The Board of Directors has established a Succession Planning committee to identify Mr. Dyer’s successor and has retained Herbert Mines Associates, a leading executive search firm with particular expertise in the retail industry, to assist in the process.
Chico’s FAS, Inc. operates as an omni-channel specialty retailer of women’s private branded, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing items. The company’s portfolio of brands comprises of Chico’s, White House|Black Market (WH|BM), Soma Intimates (Soma), and Boston Proper.
In a mid-morning trade, Adobe Systems Incorporated (NASDAQ:ADBE)‘s shares climbed 0.36%, to $80.11.
Adobe (ADBE) declared the 2015 release of Adobe Technical Communication Suite, the next generation of its complete single-source authoring and multi-device publishing toolkit for technical writers, assist and policy authors, and instructional designers. The latest version of the industry-standard, end-to-end content development toolkit, streamlines the creation of standards-compliant, bidirectional technical content for global audiences.
The new release adds comprehensive support for authoring, translating and publishing content in right-to-left languages, such as Arabic and Hebrew, and enables authors to assist people find relevant content faster through advanced personalization. It also expands content adoption by seamlessly delivering it across tablets, smartphones, e-readers, the Web, desktops and print through single-click publishing. Output formats comprise responsive HTML5, e-book and native mobile apps.
UBS Group AG (USA) (NYSE:UBS), during its Wednesday’s current trading session gained 0.64% to $22.07.
UBS Group AG (UBS) approved the distribution of a cash or share (title) dividend (“COTD”). Accordingly, between 8 May 2015 and 21 May 2015, each UBS AG shareholder was able to elect to receive either CHF 0.50 per share in cash or a number of new shares to be determined so as to be of substantially equivalent value to CHF 0.50 per share.
The final conversion factor under the COTD was 40.81 (number of existing shares required for a shareholder of UBS AG to receive one new share in UBS AG). This was based on the reference price of CHF 20.40 which corresponds to one-day VWAP (volume weighted average price) of the UBS Group AG share on the SIX Swiss Exchange, as published by Bloomberg. Share elections not corresponding to a multiple of the conversion factor were rounded down, shareholders affected by this rounding down will be compensated in cash accordingly. UBS AG shareholders from whom no valid election was made will receive CHF 0.50 per share in cash. Cash dividends will be paid out of the capital contribution reserve.
UBS Group AG, together with its auxiliaries, provides wealth administration, retail and corporate, asset administration, and investment banking products and services worldwide. The company’s Wealth Administration division provides financial services to wealthy private clients.
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