On Tuesday, Shares of Nokia Corporation (ADR) (NYSE:NOK), lost -3.20% to $6.65.
Nokia, declared a contract to sell its HERE digital mapping and location services business to a consortium of leading automotive companies, comprising AUDI AG, BMW Group and Daimler AG (the “Consortium”). The transaction values HERE at an enterprise value of EUR 2.8 billion with a normalized level of working capital and is predictable to close in the first quarter of 2016, subject to customary closing conditions and regulatory approvals. Upon closing, Nokia estimates that it will receive net proceeds of slightly above EUR 2.5 billion, as the purchaser would be compensated for certain defined liabilities of HERE presently predictable to be slightly below EUR 300 million as part of the transaction. Nokia anticipates to book a gain on the sale and a related release of cumulative foreign exchange translation differences totaling about EUR 1 billion as a result of the transaction.
In April 2015, Nokia declared a review of planned options for HERE in light of its projected combination with Alcatel-Lucent. The declarement of this sale to the Consortium concludes that planned review process.
Nokia Corporation, together with its auxiliaries, provides network infrastructure and related services in Finland, the United States, Japan, China, India, the Russian Federation, Germany, Taiwan, Indonesia, Italy, and internationally.
Shares of DISH Network Corp (NASDAQ:DISH), declined -1.77% to $66.06, during its last trading session.
DISH Network Corp., stated revenue totaling $3.83 billion for the quarter ending June 30, 2015, contrast to $3.69 billion for the corresponding period in 2014. Subscriber-related revenue raised to $3.8 billion from $3.65 billion in the year-ago period.
Net income attributable to DISH Network totaled $324 million for the second quarter 2015, contrast to net income of $213 million from the year-ago quarter. Diluted earnings per share were $0.70 for the second quarter, contrast with $0.46 during the same period in 2014.
DISH Network Corporation, through its auxiliaries, provides pay TV services in the United States. The company operates through two segments, DISH and Wireless. The company provides video services under the DISH brand.
Finally, Pepco Holdings, Inc. (NYSE:POM), remained flat at $26.79.
Pepco Holdings, stated second quarter and six months ended June 30, 2015 merged earnings.
“Our aims remain unchanged. We are committed to system reliability and ongoing improvement of the customer experience as we move forward with our pending merger with Exelon,” said Joseph M. Rigby, Chairman, President and Chief Executive Officer. “Raised operation and maintenance costs, primarily driven by the implementation of a new customer information system, influenced second quarter results.” Rigby added, “In May, both the Maryland and Delaware Public Service Commissions approved the projected merger. We continue to expect the transaction to close in the third quarter of this year creating a stronger combined company that is better positioned to deliver value to our stakeholders.”
Pepco Holdings’ GAAP net income for each of the three-month periods ended June 30, 2015 and 2014, was $53 million, or 21 cents per share. Not taking into account items that we believe are not representative of ongoing business operations, adjusted earnings for the second quarter of 2015 would have been $57 million, or 23 cents per share as contrast to $71 million, or 28 cents per share for the same period in 2014.
Pepco Holdings, Inc., through its auxiliaries, engages in the transmission, distribution, and supply of electricity. The company also distributes and supplies natural gas. In addition, the company designs, constructs, and operates energy projects and distributed generation equipment, counting combined heat and power plants principally for federal, state, and local government customers.
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