On Thursday, Shares of Ericsson (ADR) (NASDAQ:ERIC), lost -0.73% to $9.48.
Inmarsat (ISAT.L), have signed a planned maritime agreement that is intended to facilitate the sharing of cargo, logistics and vessel operational data to assist streamline the entire maritime supply chain.
The two companies will jointly develop services, solutions and applications to drive industry standards for satellite connectivity and application integration in the maritime industry.
As a first step, Ericsson has signed a distribution contract to offer XpressLink, Inmarsat`s combined L-band and Ku-band VSAT network for the maritime market. XpressLink offers an easy upgrade path to Inmarsat`s Fleet Xpress service, powered by the new Global Xpress constellation, when it becomes available in the coming months. It is intended that the distribution agreement with Ericsson will be extended to Fleet Xpress at that time.
The new planned relationship will also pave the way for integration between Ericsson`s Maritime ICT Cloud and global connectivity delivered over Inmarsat`s satellite communications network.
Ericsson provides communications technology and services worldwide. The company’s Networks segment delivers products and solutions for mobile access, Internet protocol (IP) and transmission networks, core networks, and cloud.
Shares of Mallinckrodt PLC (NYSE:MNK), inclined 4.29% to $60.08, during its last trading session.
Mallinckrodt plc, declared that its Board of Directors has authorized an incremental $500 million share repurchase program. The new authorization permits the company to repurchase up to $500 million of Mallinckrodt plc ordinary shares. This new authorization supplements the roughly $200 million remaining from the formerly authorized share repurchase plan declared in Jan. 2015.
Mallinckrodt’s Board also authorized administration to reduce the company’s outstanding debt at its discretion. Both the share repurchase and debt reduction programs are open-ended in time, and based on Mallinckrodt’s predictable capacity to generate durable earnings and about $1 billion in annual cash flow.
“Mallinckrodt is happy that the Board has acted to improvement the company’s flexibility and capacity to repurchase stock, and offered the opportunity to continue to de-lever our balance sheet and further reduce our net debt leverage, which at year-end was below our previous guidance of 4.0. The decision demonstrates the Board’s confidence in Mallinckrodt’s long-term earnings outlook and our predictable ability to generate strong annual cash flow,” said Mark Trudeau, Chief Executive Officer and President of Mallinckrodt. “In this unusually volatile marketplace, we believe this is an excellent use of our strong capital position, while still enabling us to continue to identify, acquire and invest in underdeveloped assets to further our volume-driven growth strategy.”
Mallinckrodt Public Limited Company develops, manufactures, markets, and distributes specialty pharmaceutical products and medical imaging agents worldwide. The company operates through two segments, Specialty Pharmaceuticals and Global Medical Imaging. The Specialty Pharmaceuticals segment provides Acthar, an injectable biopharmaceutical drug for use in various indications, counting neurology, rheumatology, nephrology, and pulmonology; Ofirmev and Xartemis XR for pain indications; EXALGO extended-release tablets to treat chronic pain; and GABLOFEN injections for use in the administration of spasticity of cerebral.
Finally, Shares of PepsiCo, Inc. (NYSE:PEP), ended its last trade with 0.66% gain, and closed at $100.93.
The Board of Directors of PepsiCo, declared a quarterly dividend of $0.7025 per share of PepsiCo common stock, a 7.3 percent improvement as compared to the comparable year-earlier period. The dividend is payable on Jan. 7, 2016 to shareholders of record at the close of business on Dec. 4, 2015. PepsiCo has paid successive quarterly cash dividends since 1965, and 2015 marks the company’s 43rd successive annual dividend improvement.
Over the past ten years, PepsiCo has returned more than $64 billion to shareholders in the form of dividends and share repurchases. The company anticipates to return $9 billion to shareholders in the form of dividends and share repurchases in 2015.
PepsiCo, Inc. operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay’s potato chips, Doritos tortilla chips, Cheetos cheese-flavored snacks, Tostitos tortilla chips, branded dips, Ruffles potato chips, Fritos corn chips, and Santitas tortilla chips.