On Friday, Shares of Ericsson (NASDAQ:ERIC), gained 3.52% to $11.47.
Ericsson, has declared the signing of a multi-year agreement with Safaricom, Kenya`s largest mobile operator, to support the upgrade and expansion of its converged mobile network infrastructure. Under the terms of this agreement, Ericsson will deploy Wi-Fi technology for the first time on the Safaricom network in addition to expand and enhance the MINI-LINK microwave transmission network; enabling subscribers enjoy a richer quality of mobile broadband in Kenya.
Deployment of the Wi-Fi solution will enable Safaricom to optimize its use of spectrum resources while enhancing 3G services, and boosting broadband app coverage for customers in selected densely populated areas. Ericsson`s MINI-LINK microwave products and IP portfolio will enable Safaricom to seamlessly migrate to an all-IP transmission network that supports coming technologies and Safaricom`s five-year network evolution strategy. The Ericsson SSR 8000 family also provides Safaricom with a highly scalable, merged platform for both fixed and mobile services for IP/MPLS routing.
Ericsson`s microwave transmission comprises MINI-LINK TN, LH and PT, which support capacity growth and the use of new frequency bands such as V and E bands. It transports voice and data traffic from the radio access to the core network, enhancing the capacity of the mobile transmission network to cope with raised traffic in the radio network. The Wi-Fi solution, comprised of Ericsson Wi-Fi Access Points and Ericsson Wi-Fi Manager (Ericsson`s Wi-Fi Network Administration software solution), will complement the data services offered by the existing 3G network and ease the load on the 3G resources through traffic offload to Wi-Fi in selected areas. In addition, the Broadband Network Gateway (BNG) based on SSR 8010 is deployed by the service provider as the first aggregation point in the Carrier Grade Wi-Fi network.
Ericsson provides communications technology and services worldwide. The companys Networks segment delivers products and solutions for mobile access, Internet protocol (IP) and transmission networks, core networks, and cloud. This segment offers radio access solutions; IP routing and transport solutions; transmission/backhaul solutions comprising microwave and optical transmission solutions for mobile and fixed networks; IP multimedia subsystem solutions; and operations support systems, in addition to supports operators administration of existing networks.
Shares of Summit Midstream Partners, LP (NYSE:SMLP), declined -0.10% to $30.72, during its last trading session, hitting its lowest level.
Summit Midstream Partners, declared the pricing of its underwritten public offering of 6,500,000 common units representing limited partner interests in SMLP at a public offering price of $30.75 per common unit. The underwriters have been granted a 30-day option to purchase up to an additional 975,000 common units, less the underwriting discount. The offering is planned to close on May 13, 2015, subject to customary closing conditions.
SMLP intends to use the net proceeds from this offering to fund a portion of the purchase price of its pending acquisition of all of the issued and outstanding membership interests in Polar Midstream, LLC and Epping Transmission Company, LLC (the “Acquisition”). If the Acquisition is not consummated for any reason, SMLP intends to use the net proceeds from the offering for general partnership purposes, counting the repayment of borrowings under its revolving credit facility.
Barclays, BofA Merrill Lynch, Goldman, Sachs & Co., Morgan Stanley, Wells Fargo Securities, Baird, Citigroup, Deutsche Bank Securities and RBC Capital Markets are acting as joint book-running managers for the offering. BB&T Capital Markets and U.S. Capital Advisors are acting as co-managers for the offering.
Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations, in North America. The company provides natural gas gathering, treating, and processing services.
At the end of Friday’s trade, Shares of Gold Fields Ltd. (NYSE:GFI), showed no change to $3.71.
Gold Fields Limited, declared net losses attributable to our shareholders of US$14 million for the March 2015 quarter contrast with US$26 million in the December 2014 quarter and US$nil in the March 2014 quarter. Normalized losses of US$13 million for the March 2015 quarter contrast with earnings of US$17 million in the December 2014 quarter and US$21 million in the March 2014 quarter.
Gold Fields Limited operates as a gold mining company. The company engages in the exploration, extraction, processing, and smelting of gold and copper properties. It holds interests in eight operating mines in South Africa, Ghana, Australia, and Peru.
Finally, Exelon Corporation (NYSE:EXC), ended its last trade with 0.30% gain, and closed at $33.93.
To support residents of Baltimore as the city continues to recover from recent events and assist set the stage for long-term solutions, Exelon Corporation, and its Baltimore-based companies BGE and Constellation have declared a joint donation of $200,000 to nonprofits that are leading response efforts.
In order to address immediate needs and support sustainable long-term programs, the companies will donate $100,000 to the Maryland Unites Fund, established by the United Way of Central Maryland in partnership with the State of Maryland, to provide humanitarian aid and emergency supplies to affected neighborhoods. The companies also will contribute $100,000 to the Baltimore Community Foundation for the recently established Fund for Rebuilding Baltimore to assist rebuild damaged businesses and support a sustained effort to address longer-term community needs. One hundred percent of the funds will be used in direct support of these initiatives.
In addition to the immediate financial donation, the companies are also collaborating with city and community leaders and organizations on longer-term initiatives focused on job training and employment opportunities, youth development and strengthening neighborhood resources.
Exelon Corporation, a utility services holding company, engages in the energy generation and delivery businesses in the United States. It owns electric generating facilities, such as nuclear, fossil, and hydroelectric generation facilities, in addition to wind and solar photovoltaic facilities.
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