On Thursday, AT&T Inc. (NYSE:T)’s shares declined -1.05% to $34.04.
AT&T* and IBM (NYSE: IBM) declared they are expanding their long-term planned relationship to bring businesses a full suite of advanced networking, application and hosting services. Under the agreement, AT&T will transition its managed application and managed hosting services unit to IBM. IBM will then align these managed service capabilities with the IBM Cloud portfolio. IBM will also acquire equipment and access to floor space in AT&T data centers presently supporting the applications and managed hosting operations.
Together, AT&T and IBM will enable companies to more easily integrate netoperates and cloud workloads with their IT environments. After close, IBM will deliver the managed applications and managed hosting services AT&T provides recently. AT&T will continue to provide networking services counting security, cloud networking and mobility that it provides recently. And the two companies will work closely to innovate and deliver a full suite of integrated solutions to customers.
Declaration represents an expansion of our planned relationship with AT&T and ongoing partnership to deliver new innovative solutions,” said Philip Guido, IBM General Manager of Global Technology Services for North America. “Working with AT&T, we will deliver a robust set of IBM Cloud and managed services that can continuously evolve to meet clients’ business objectives.”
AT&T Inc. provides telecommunications services in the United States and internationally. The company operates through two segments, Wireless and Wireline. The Wireless segment offers data and voice services, counting local, long-distance, and network access services, in addition to roaming services to youth, family, professionals, small businesses, government, and business customers.
Goldcorp Inc. (USA) (NYSE:GG)’s shares dropped -7.75% to $10.95.
GOLDCORP INC. (NYSE: GG) would like to remind holders of shares of Canplats Resources Corporation (“Canplats”), that the sunset clause on exchanging Canplats shares for cash consideration expires on February 4, 2016 (“Deadline”). On February 4, 2010 (“Effective Date”), Goldcorp accomplished the acquisition of all the outstanding shares of Canplats under a Plan of Arrangement.
Under the Plan of Arrangement, holders of Canplats shares were entitled to receive $4.60 in cash for each Canplats Shares held. In addition, holders of Canplats share were entitled to receive a distribution from Canplats of one share in a new exploration company (“Newco”) with a notional value of $0.20 for total consideration of $4.80 per share.
Under the Plan of Arrangement, the sunset clause provision provides that any certificate that represented outstanding Canplats shares right away before the effective date of the Plan of Arrangement and which has not been surrendered on or before the Deadline, will cease to represent any claim against or interest of any kind or nature in Canplats, Newco or Goldcorp and any persons who tender certificates for Canplats shares after the sixth anniversary of the Effective Date will not receive any cash or other compensation and will not own any interest in Canplats or Newco.
Goldcorp Inc. engages in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America.
At the end of Thursday’s trade, DryShips Inc. (NASDAQ:DRYS)‘s shares dipped -6.14% to $0.0902.
DryShips Inc. (NASDAQ:DRYS), declared that the independent members of its Board of Directors have approved the exercise of the Company’s right under its formerly declared Secured Revolving Facility Agreement with Sifnos Shareholders Inc. (“Sifnos”), a company controlled by Mr. George Economou. Specifically, the Company has elected to convert $10,000,000 of the outstanding principal amount of the loan into 100,000,000 preferred shares of the Company. Each preferred share will have five votes and will be mandatorily converted into common shares of the Company on a one to one basis within three months after the issuance thereof on a date selected by the Company.
Ziad Nakhleh, Chief Financial Officer of the Company, commented:
“We are happy to have strengthened our balance sheet by $10 million in line with the current trading price of our stock in this difficult environment for drybulk companies. In addition, to avoid being delisted from the NASDAQ during the first half of 2016, the Company believes it will be necessary to effect a reverse stock split of its common shares. The issuance of the preferred stock, together with the continued support of Sifnos, which has expressed its support of the Company’s intention to maintain its NASDAQ listing, will assist us in obtaining the required shareholder approval to effect a reverse stock split.”
DryShips Inc. provides ocean transportation services for drybulk and petroleum cargoes, and offshore deepwater drilling services. The company operates through Drybulk, Tanker, and Drilling segments.
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