During Wednesday’s Current trade, Shares of Bank of America Corp (NYSE:BAC), gain 0.41% to $15.76.
In recognition of the United Nations’ World Habitat Day, Bank of America, in partnership with Habitat for Humanity International, is launching its second Global Build, taking place in eight countries around the world. During one week and across 11 time zones, the Global Build will feature the first-ever home build in New York City’s Bryant Park, where volunteers will build in partnership with a local Habitat family. The projects taking place during Global Build aim to address affordable housing challenges, revitalize communities and assist families around the world improve their living conditions and achieve home ownership.
“Affordable housing is critical to financial well-being and is linked to improved health, education and economic outcomes for families and children,” said Andrew Plepler, Bank of America’s Global Corporate Social Responsibility executive. “Through our longstanding relationship with Habitat for Humanity, we have been able to partner on efforts like the Global Build and bring our international scale to assist more people achieve homeownership and put them on the path to a stronger financial future.”
During the week, about 2,000 Bank of America employees will volunteer with Habitat for Humanity to revitalize neighborhoods in 75 communities around the world, counting London, Hong Kong, Sydney, Jakarta, Manila, Toronto, and Mumbai. Volunteers will also take part in the feature event in Bryant Park, erecting the frame of an eco-friendly house over the course of the day that will become home to a family in Long Island, New York.
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services.
Shares of PMC-Sierra Inc (NASDAQ:PMCS), declined -0.34% to $10.20, during its current trading session.
Skyworks Solutions, Inc. (SWKS), an innovator of high performance analog semiconductors connecting people, places and things, and PMC-Sierra, Inc. (PMC) (PMCS), a semiconductor and software solutions leader in storage, optical and mobile networks, declared a definitive agreement under which Skyworks will acquire PMC for $10.50 per share in an all-cash transaction valued at about $2 billion. This acquisition solidifies Skyworks’ position as a highly diversified analog, RF and mixed signal semiconductor leader by significantly expanding its product portfolio, customer base and end market applications. Upon completion of the acquisition, Skyworks anticipates annual revenues of more than $4 billion with gross margin in the 55 percent range and operating margin surpassing 40 percent.
“The PMC team is excited to join forces with Skyoperates to realize our vision of transforming the broader communications landscape through unparalleled product breadth and operational scale,” said Greg Lang, president and chief executive officer of PMC. “Given Skyoperates’ deep global sales channels and leadership applications support, underpinned by a world class supply chain, we could not have found a better partner. Together, we plan to develop a wider range of leading-edge solutions for our customers, target new growth vectors and enable some of the most exciting networking and storage platforms in the world, while delivering immediate value for our shareholders.”
The Boards of Directors of each company have approved the transaction, which is predictable to close in the first half of calendar 2016, subject to PMC shareholder approval, receipt of regulatory approvals and other customary closing conditions.
PMC-Sierra, Inc. (PMC) is a semiconductor and software solution innovator transforming networks that connect, move, and store Big Data. The Company designs, develops, markets and supports semiconductor, embedded software, and board level solutions.
Micron Technology, Inc. (NASDAQ:MU), during its Wednesday’s current trading session gained 1.65% to $18.52.
Micron Technology, Inc., (MU) declared results of operations for its fourth quarter and 2015 fiscal year, which ended September 3, 2015. Revenues for the fourth quarter of fiscal 2015 were $3.60 billion and were 7 percent lower contrast to the third quarter of fiscal 2015 and 15 percent lower contrast to the fourth quarter of fiscal 2014. Revenues for fiscal year 2015 were $16.19 billion and net income attributable to Micron shareholders was $2.90 billion, or $2.47 per diluted share. Cash flows from operations were $5.21 billion for fiscal year 2015.
“We are happy to report Fiscal Year 2015 results that comprise revenue of $16.2 billion, $2.72 in non-GAAP earnings per share, and $2.3 billion in dilution administration activities, counting convert retirements and share repurchases,” stated D. Mark Durcan, Chief Executive Officer. “While fourth quarter results were influenced by continued weakness in the PC sector, we believe that memory industry fundamentals remain favorable over the long term.”
GAAP Income and Per Share Data — On a GAAP basis, net income attributable to Micron shareholders for the fourth quarter of fiscal 2015 was $471 million, or $0.42 per diluted share, contrast to net income of $491 million, or $0.42 per diluted share, for the third quarter of fiscal 2015 and net income of $1.15 billion, or $0.96 per diluted share, for the fourth quarter of fiscal 2014.
Non-GAAP Income and Per Share Data — On a non-GAAP basis, net income attributable to Micron shareholders for the fourth quarter of fiscal 2015 was $399 million, or $0.37 per diluted share, contrast to net income of $620 million, or $0.54 per diluted share, for the third quarter of fiscal 2015. For a reconciliation of GAAP to non-GAAP results, see the accompanying financial tables and footnotes.
Revenues for the fourth quarter of fiscal 2015 were 7 percent lower contrast to the third quarter of fiscal 2015 primarily due to a 7 percent decline in DRAM average selling prices and relatively flat DRAM sales volume. Non-Volatile trade revenues for the fourth quarter of fiscal 2015 also declined 7 percent contrast to the third quarter primarily as a result of lower sales volume. The company’s overall merged gross margin of 27 percent for the fourth quarter of fiscal 2015 was 4 percent lower contrast to the third quarter of fiscal 2015 primarily due to lower average selling prices for DRAM.
Micron Technology, Inc. is a global provider of semiconductor devices. Through the Company’s global operations, it manufactures and markets a full range of Dynamic Random Access Memory (DRAM), NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, automotive, industrial, embedded and mobile products.
Finally, Olin Corporation (NYSE:OLN), decreased -0.86%, to $17.33.
Olin Corporation (OLN) declared the successful completion of the formerly declared merger of The Dow Chemical Company’s (DOW) (“Dow”) U.S. Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses with Olin and the election by Olin’s board of directors of four new officers.
Joseph D. Rupp, Olin’s Chairman and Chief Executive Officer, said, “I want to welcome the four new officers and the talented business leaders, administration teams and skillful employees of the businesses who will become part of the Olin family. I also want to congratulate and thank all the employees from both companies who worked diligently to make this merger a success.”
James A. Varilek, 57, was elected Executive Vice President of Olin and President, Chlor Alkali Vinyls and Services. Jim most recently served as Chief Operating Officer, Dow Chlorine Products; President, U.S. Chlor-Alkali & Vinyl. In this role, Jim led the Chlor-Alkali and Vinyl Business and organizational readiness for the Dow Chlorine Products divestiture. Jim holds a bachelor’s degree in Economics and a master’s degree in Business Administration from the University of Michigan.
Clive A. Grannum, 50, was elected Vice President of Olin and President, Global Chlorinated Organics. Clive most recently served as the Business President, Global Chlorinated Organics at Dow where he led all aspects of the global business. Clive holds a bachelor’s degree in Aerospace Engineering from Boston University and a master’s degree in Administration from Yale University.
Olin Corporation is a manufacturing company. The Company operates in three segments: Chlor Alkali Products, Chemical Distribution and Winchester. Chlor Alkali Products manufactures and sells chlorine and caustic soda, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
