On Tuesday, Shares of Emerson Electric Co. (NYSE:EMR), lost -0.36% to $48.67.
GE Healthcare’s Life Sciences business and Emerson Process Administration, a global business of Emerson (EMR), declared a partnership aimed at increasing productivity and improving efficiency in the production of biopharmaceuticals such as monoclonal antibodies and vaccines. The two companies will collaborate to integrate Emerson’s DeltaV™ distributed control system with GE Healthcare’s enterprise offerings and start-to-finish technologies for the global bio manufacturing industry. The first DeltaV-driven GE Healthcare installation, which is predictable to be complete before the end of the year, will be a Flex Factory™, GE’s integrated manufacturing platform based on single-use technologies.
Biopharmaceutical manufacturers are increasingly looking to automate production processes, driven by the industry need to improvement efficiency and reduce costs. GE’s start-to-finish portfolio of single-use bioprocessing technologies already allows manufacturers to reduce set-up times and improvement manufacturing flexibility. Emerson’s DeltaV system, which uses predictive technologies to connect people, processes and production, enables remote monitoring and control from multiple locations across a company’s network and is already widely used in the pharmaceutical industry. The DeltaV system will be offered as an automation control platform for GE’s single-use bioprocessing offerings.
Emerson Electric Co. provides technology and engineering solutions to industrial, commercial, and consumer markets worldwide. It operates through five segments: Process Administration, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
Finally, Shares of RCS Capital Corp (NYSE:RCAP), ended its last trade with 46.95% gain, and closed at $0.383.
RCS Capital Corporation, declared operating results for the three and nine months ended September 30, 2015. Operating highlights are offered below. All per share results are expressed on a fully diluted basis.
“This was a transitional quarter as we continued to plannedally reposition the Company to focus on our independent retail advice business, Cetera Financial Group (“CFG”), and strengthen our balance sheet and financial position,” said Mark Auerbach, Non-Executive Chairman RCS Capital. “While asset based revenues, counting cash sweep and planned partner revenues, and advisor retention remain strong within CFG, we continue to face a challenging overall environment characterized by volatility in the equity markets and historically low interest rates.”
Mr. Auerbach continued, “As we formerly declared, the transition of RCS Capital to a retail-focused entity is underway and we view the developments declared over the past couple of weeks as incrementally positive. The additional cash and lender modifications will allow time for the Company to complete its work with Lazard in the exploration of options to raise additional capital and make asset divestitures. Additionally, the sale of Hatteras and the sale of the wholesale distribution division, counting Realty Capital Securities and Planned Capital, following the amended agreement, once consummated, will assist further rationalize the business model to refocus the business as a Cetera-only organization, while the addition of Michael Conboy of Luxor Capital Group on our board brings a long-time stakeholder into a more active role. Finally, by granting the independent RCS Capital board members a proxy to vote the single outstanding Class B share, RCAP Holdings has cleared a path to the recapitalization process. As we look ahead, we are focused on our core retail business and recognize the earnings potential of Cetera Financial Group.”
RCS Capital Corporation engages in the independent retail advice, wholesale distribution, investment banking, capital markets, investment administration, and investment research businesses. The company offers independent retail advices, financial products, and investment solutions through a network of independent channel broker-dealers and registered investment advisers; and multi-product distribution platform of direct investment program offerings to independent broker-dealers and the retail financial advisor community.