During Thursday’s Morning trade, Shares of Mattel, Inc. (NASDAQ:MAT), lost -0.08% to $24.03.
A-Mark Precious Metals, Inc. (AMRK), a full-service precious metals trading company and an official distributor for all the major sovereign Mints, has designated Cary Dickson as chief financial officer, effective November 9, 2015.
“As we continue to expand A-Mark’s services and international footprint, we look to leverage Cary’s proven expertise in finance and global operations,” said the company’s CEO, Greg Roberts. “He not only brings a wealth of capital markets experience, but also possesses a deep understanding of consumer products, which will prove instrumental in our planned initiatives to drive profitable growth.”
Dickson brings to the position of CFO more than 20 years of experience in the financial industry. He formerly held various finance position at Mattel Brands (MAT), a worldwide leader in the design, manufacture and marketing of toys and family products, counting VP of finance and CFO of Mattel Foundation.
Mattel, Inc. designs, manufactures, and markets a range of toy products worldwide. The company operates in three segments: North America, International, and American Girl. It offers dolls and accessories, vehicles and play sets, and games and puzzles under the Mattel Girls & Boys brands, counting Barbie, Monster High, Disney Classics, Ever After High, Little Mommy, Polly Pocket, Hot Wheels, Matchbox, CARS, Disney Planes, BOOMco, Radica, Toy Story, Max Steel, WWE Wrestling, and Batman.
Shares of International Business Machines Corp. (NYSE:IBM), declined -0.76% to $133.98, during its current trading session.
International Business Machines Corp., has launched developer Works Premium, a subscription model of its developer Works community, to provide developers with exclusive, member-only curated tools and resources for IBM Cloud. With developer Works Premium, developers now have an all-access pass to cloud-based IBM offerings and services that will assist them rapidly prototype, develop and deploy cloud projects.
Evans Data Corporation’s recent Global Development and Demographic Study reveals that five million developers worldwide are using the cloud as a development platform. Cloud represents a sea change in the way that developers work; it improvements productivity and decreases cost, while providing a new level of flexibility that encourages innovation anywhere, at anytime.
The new cloud-based developer Works Premium annual subscription capitalizes on the inherent productivity and cost-saving benefits of cloud and takes them a step further. By providing unprecedented complimentary access to IBM Cloud services like Bluemix, SoftLayer, and Mobile First, developers can go from prototype to production within minutes—all on an interconnected, scalable and secure cloud architecture.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support.
Finally, Shares of Marathon Petroleum Corp (NYSE:MPC), lost -2.70%, and is now trading at $53.40.
Marathon Petroleum Corporation, declared that it has agreed to contribute an additional $400 million of cash to MPLX LP (MPLX), the midstream master limited partnership (MLP) sponsored by MPC, for a total cash contribution of $1.075 billion to fund a one-time cash payment to Mark West unit holders in connection with the pending merger by which Mark West Energy Partners, L.P. (MWE) (Mark West) would become a wholly owned partner of MPLX. Under the revised terms of the merger agreement, Mark West common unit holders will receive 1.09 MPLX common units plus a one-time cash payment of about $5.21 per Mark West common unit, for a total consideration of about $52.93 per Mark West common unit, based on fully diluted units presently outstanding and the closing price of MPLX`s common units on Nov. 10, 2015. The additional cash is being contributed to MPLX by MPC under which no new equity units will be issued to MPC, which is on the same basis as the original $675 million cash portion. MPC will also contribute about $225 million, based on the price of MPLX`s common units on Nov. 10, 2015, to maintain its 2 percent general partner interest in MPLX. These proceeds will be retained by the partnership to support its growth. All other terms of the merger agreement declared on July 13, 2015, remain the same.
The merger is recommended by the boards of directors of MPC, MPLX, and MarkWest, and the executive administration of both partnerships also strongly support the transaction and its revised terms.
“The enhancement to the terms of the agreement reflects the commitment of MPC and MPLX to the combination with MarkWest and conviction that the transaction will create noteworthybenefits for the unitholders, customers and employees of both partnerships,” said Gary R. Heminger, MPC president and chief executive officer. “This improvement substantially enhances the transaction value for MarkWest unitholders, who will not only benefit from noteworthydistribution growth, but also a substantially lower equity yield, investment-grade debt funding costs, improved access to capital and liquidity and a strong general partner prepared to provide support and financial flexibility.”
Marathon Petroleum Corporation, together with its auxiliaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Pipeline Transportation.