On Tuesday, Flextronics International Ltd. (NASDAQ:FLEX)’s shares declined -2.16% to $11.31.
Flextronics International Ltd. (FLEX) declared that its Chennai facility in Sriperumbudur has been granted the Domestic Tariff Area (DTA) status which will allow the company to ship finished products locally. Flextronics has been operating in Chennai since 2005 at the SIPCOT Special Economic Zone (SEZ). By having both DTA and SEZ status, Flextronics is able to produce and deliver products for both domestic and export markets, with zero customs duty.
Flextronics International Ltd. provides design, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. The company offers innovation services, such as innovations labs for supporting customer design and product development services from early concept stages; collective innovation platform, an ecosystem of technology solutions; Lab IX startup accelerator program; centers of excellence solutions in critical areas; interconnect technology center for printed circuits; and CloudLabs that enables customers to accelerate a spectrum of cloud, converged infrastructure, and datacenter strategies. It also provides design and engineering services, counting contract design and joint development manufacturing services, which cover various technical competencies, such as system architecture, user interface and industrial design, mechanical engineering, technology, enclosure systems, thermal and tooling design, electronic system design, reliability and failure analysis, and component level development engineering; and systems assembly and manufacturing services, such as enclosures, testing services, and materials procurement and inventory administration.
At the end of Tuesday’s trade, Credit Suisse Group AG (ADR)(NYSE:CS)‘s shares surged 0.07% to $27.62.
Credit Suisse Group AG (ADR) (CS) driven by supply fundamentals and macroeconomic factors, according to Credit Suisse Asset Management.
The Bloomberg Commodity Index Total Return performance was negative for the month, with 15 out of 22 Index constituents trading lower.
Credit Suisse Asset Administration observed the following:
- Industrial Metals was the worst performing sector, down 7.70%, as a continued weak economic growth outlook for China weighed on demand expectations.
- Agriculture declined 3.50%, led lower by softs, as a weaker Brazilian Real incentivized exports of sugar, coffee and soybeans. In addition, heavy rainfall improved the coffee harvest outlook in Brazil and Colombia, increasing supply expectations.
- Energy finished the month 2.13% lower, led by Natural Gas. Inventories rose more than predictable towards the end of the month, and forecasts for moderate weather across the U.S. reduced cooling demand expectations.
- Livestock gained the most, up 2.34%. In addition to Lean Hogs, Live Cattle also ended the month higher following raised wholesale beef demand. Furthermore, good pasture conditions incentivized producers to hold back cattle, shrinking near term supplies.
Credit Suisse Group AG, together with its auxiliaries, provides various financial services to private, corporate, institutional, government clients, and high-net-worth individuals, in addition to affluent and retail clients worldwide.
SunTrust Banks, Inc. (NYSE:STI), ended its Tuesday’s trading session with 0.91% gain, and closed at $43.02.
Scott Wilfong, a 43-year banking industry veteran and Baltimore booster who is the chairman and CEO of SunTrust Bank’s Greater Washington and Maryland division, is retiring at the end of the month.
Wilfong, 65, will be succeeded by region president Dan O’Neill at the start of July. Speculation mounted at the starting of this year that Wilfong was preparing to retire after O’Neill, 54, became the Greater Washington and Maryland president for SunTrust ( STI). O’Neill moved from the bank’s headquarters in Atlanta, where he was head of wholesale risk administration.
The changes are noteworthy for both Washington and Baltimore, where SunTrust is the sixth-largest bank by deposit market share. The bank had 3.3 percent of the Baltimore market’s deposits, $2.1 billion, as of the most recent Federal Deposit Insurance Corp. rankings from the end of June 2014.
SunTrust Banks, Inc. operates as the holding company for SunTrust Bank that provides various financial services in the United States. The company operates in three segments: Consumer Banking and Private Wealth Administration, Wholesale Banking, and Mortgage Banking. The Consumer Banking and Private Wealth Administration segment offers deposits, home equity lines and loans, credit lines, indirect auto loans, student loans, bank cards, and other lending products, in addition to various services. This segment also provides wealth administration products and professional services, counting brokerage, professional investment administration, and trust services; and family office solutions.
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