On Friday, Shares of Forward Industries Inc. (NASDAQ:FORD), lost -8.67% to $1.58.
Forward Industries, declared they have signed an extension with Bayer Healthcare LLC to supply Global custom carry cases for their diabetic products through the end of 2018.
Bayer Healthcare has been a noteworthy customer of Forward in the past several years and its current supplier agreement following which Bayer Healthcare purchases certain products from Forward was due to expire at the end of 2016. The extension specifies the price at which Bayer Healthcare may purchase products from Forward with the volume of purchases to be determined by Bayer Healthcare at a later date.
Terry Wise, Chief Executive Officer of Forward Industries, stated, “Getting this supplier extension from one of the major players in the industry is testament to our ability to supply quality products on a timely basis. Additionally, our ability to meet complex compliance requirements in a highly regulated industry gives us a noteworthy advantage over our competitors. We are consistently given high ratings in quality performance from all our multi-national clients.”
Forward Industries, Inc., together with its auxiliaries, designs, markets, and distributes carry and protective solutions primarily for hand held electronic devices. The company offers carrying cases and other accessories for medical monitoring and diagnostic kits; and other portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, smartphones, GPS location devices, tablets, firearms, and other products.
Shares of Lazard Ltd (NYSE:LAZ), declined -1.01% to $47.06, during its last trading session.
Lazard Ltd, declared that Nathan Pund has joined its partner, Lazard Middle Market, as a Managing Director in its Consumer and Retail group, focused on active lifestyle sectors. He is based in Charlotte, North Carolina.
“Nate has built a national reputation over nearly two decades as a top financial advisor in the active lifestyle, outdoor and tactical sectors,” said David Solomon, CEO of Lazard Middle Market. “His athletic and military background brings added credibility in these areas.”
Since 2005, Mr. Pund has advised on more than 40 M&A and other financial transactions for well-known active lifestyle, outdoor and tactical brands. He was a co-founding Partner and Managing Director at Silver Steep Partners, a boutique investment bank focused on the active outdoor industry from 2005 until 2010, when it was sold to D.A. Davidson, where he served as a Managing Director and Group Head of the Investment Banking, Active Lifestyle group, preceding to joining Lazard Middle Market. Earlier in his career, Mr. Pund was a Vice President at RBC Capital Markets and a senior analyst at Prudential Securities. He served in the U.S. Navy as an Intelligence Officer with NCIS, Special Operations Command Central and the Pacific Fleet and is a graduate of Survival, Evasion, Resistance, Escape (SERE) School and the Combat Lifesaver Course. He received a Master of Business Administration from Dartmouth’s Tuck School of Business.
Lazard Ltd., together with its auxiliaries, operates as a financial advisory and asset administration firm. Its Financial Advisory segment offers various financial advisory services on mergers and acquisitions, and other planned matters, in addition to on restructurings, capital structure, capital rising, and other financial matters.
At the end of Friday’s trade, Shares of Cree, Inc. (NASDAQ:CREE), lost -2.34% to $25.85.
Cree declared that Wolfspeed is the new name for the Power and RF division of Cree. The company declared in May that it would separate the business into a standalone company.
Founded upon the mission to liberate power and wireless systems from the limitations of silicon, Wolfspeed enters the marketplace as a well-established, entrepreneurial growth company with a focused team, a profitable business, and more than 28 years of industry-leading wide bandgap semiconductor technology and experience.
The new name combines important elements of Cree’s culture and expertise and allows the Power and RF division to build brand equity while operating as a separate business. As a Cree Company, Wolfspeed will leverage Cree’s industry-leading brand, global footprint, scale and expertise to ensure a smooth transition for customers.
Cree, Inc. provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally.
Finally, Raytheon Company (NYSE:RTN), ended its last trade with -1.58% loss, and closed at $102.87.
The U.S. Navy cleared Raytheon Company (RTN) to start full-rate production on the AIM-9X® Sidewinder Block II infrared air-to-air missile. The program accomplished operational test and evaluation earlier this year and Raytheon is now approved to produce missiles at full factory capacity.
“We’ve proven the raised capabilities of the AIM-9X Block II, and are confident Raytheon can produce missiles at full rate,” said U.S. Navy Program Manager Captain Jim Stoneman, PMA-259. “We look forward to getting them into the hands of our warfighters as quickly as possible.”
The U.S. Navy and Air Force, together with several international partners who have purchased the AIM-9X Block II, are receiving Sidewinder deliveries.
Raytheon Company develops integrated products, services, and solutions in the areas of sensing; effects; command, control, communications, and intelligence; mission support; and cyber and information security worldwide.
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