On Monday, Shares of Eaton Vance Corp. (NYSE:EV), dropped -1.74% to $42.06.
At a meeting held recently, the Board of Trustees of Eaton Vance California Municipal Bond Fund, Eaton Vance California Municipal Bond, Eaton Vance Improved Equity Income Fund, Eaton Vance Massachusetts Municipal Bond Fund, Eaton Vance Michigan Municipal Bond Fund, Eaton Vance Municipal Bond Fund, Eaton Vance Municipal Bond Fund II, Eaton Vance New Jersey Municipal Bond Fund, Eaton Vance New York Municipal Bond Fund, Eaton Vance New York Municipal Bond Fund II, Eaton Vance Ohio Municipal Bond Fund, and Eaton Vance Pennsylvania Municipal Bond Fund, each a closed-end investment company, voted to hold the Annual Meetings of Shareholders of each Fund concurrently on Thursday, July 23, 2015 at 11:30 a.m. (EDT). The meetings will be held at the principal office of the Funds, Two International Place, Boston, Massachusetts 02110. Proxy materials will be mailed on or about May 29, 2015 to shareholders of record on May 11, 2015. Shareholders will be asked to vote on the election of Class I Trustees of EVM, EIA, MAB, MIW, EIM, EIV, EMJ, ENX, NYH, EIO and EIP, and Class II Trustees of EOI. The results of the meetings will be stated in a subsequent report to shareholders.
The Funds are managed by Eaton Vance Administration, a partner of Eaton Vance Corp. (EV), based in Boston, one of the oldest investment administration firms in the United States, with a history dating back to 1924. Eaton Vance and its associates managed $303.4 billion in assets as of March 31, 2015, offering individuals and institutions a broad array of investment strategies and wealth administration solutions.
Eaton Vance Corp., through its auxiliaries, engages in the creation, marketing, and administration of investment funds in the United States. It also provides investment administration and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.
Shares of Brookdale Senior Living Inc. (NYSE:BKD), declined -1.74% to $36.68, during its last trading session.
Brookdale Senior Living, declared the appointments of Mark J. Parrell and Lee S. Wielansky to its Board of Directors as Class III directors. The appointments of Messrs. Parrell and Wielansky, which became effective on April 23, 2015, fill the vacancies created by the retirements from the Board of Mark J. Schulte, who had formerly served as CEO and Co-CEO of the Company and had served as a director since 2008, and Dr. Samuel Waxman, who had served as a director since 2005. Following the changes, the Brookdale Board will remain comprised of nine directors, seven of whom are independent.
Brookdale Senior Living Inc. owns and operates senior living communities in the United States. It operates through five segments: Retirement Centers, Assisted Living, Ongoing Care Retirement Communities (CCRCs)Rental, Brookdale Ancillary Services, and Administration Services.
At the end of Monday’s trade, Shares of Bemis Company, Inc. (NYSE:BMS), dwindled -1.71% to $44.78.
Bemis Company, stated first quarter 2015 diluted earnings per share from ongoing operations of $0.58 per share, consistent with the same quarter of 2014. Not taking into account the effect of plant closure costs and transaction-related gains detailed in the attached plan, “Reconciliation of Non-GAAP Earnings Per Share,” adjusted diluted earnings per share from ongoing operations would have been $0.61 in 2015 and $0.52 in 2014.
CAPITAL STRUCTURE AND CASH FLOW
Total company net debt to adjusted EBITDA was 2.2 times at March 31, 2015, slightly above the Company’s target ratio of 2.0 times. Net debt is defined as total debt less cash, and adjusted EBITDA is defined as the last twelve months total company adjusted operating income plus depreciation and amortization.
Cash flow from operations for the first quarter of 2015 was $85.2 million, contrast to $12.5 million for 2014.
During the first quarter, Bemis repurchased 0.8 million shares, for a total of $37.5 million. At March 31, 2015, the remaining Board authorization for the repurchase of Bemis common stock was 5.9 million shares.
Bemis Company, Inc. manufactures and sells packaging products in North America, Latin America, Europe, and the Asia-Pacific. It operates through two segments, U.S. Packaging and Global Packaging.
Finally, Marvell Technology Group Ltd. (NASDAQ:MRVL), ended its last trade with -1.64% loss, and closed at $14.07.
Marvell Technology, recently added the ARMADA® 1500 Ultra (88DE3218) system-on-chip (SoC) to its award-winning ARMADA 1500 family. The ARMADA 1500 Ultra’s Quad Core 14K DMIPS ARM A53 CPU, 8-core GPU, carrier-grade security and state-of-the-art power administration techniques are designed to enable PayTV operators and set-top box (STB) manufacturers to cost-effectively deliver small form factor devices with feature-rich 4K entertainment and gaming services to their subscribers. With its 64-bit ARM CPU, Marvell is the first silicon provider to bring the 64-bit ARM architecture both to the mobile and the payTV segments, thereby enabling the unification of the application developer ecosystem.
Key features of the ARMADA 1500 Ultra HD SoC comprise:
- 2160p60 10 bit HEVC & VP9 Video Decode, 1080p PiP and transcoding with patented scaling techniques for best-in-class video experience
- Up to 14K DMIPs (1.5 GHz) Quad Core ARM A53 64-bit CPU allows operators to deploy rich media/web-based TV applications and Android TV services for an improved viewing experience
- 8 core GPU, 8 shader Vivante GC7000XS with hardware tessellation and geometry shaders optimized for the Android gaming ecosystem enables operators to deploy compelling gaming services to TV subscribers
- Robust security engine, trusted rendering path with TrustZone, and hardware support for video watermarking technologies such as Verimatrix VideoMark and Civolution NexGuard
- Strong portfolio of SDKs counting Android TV and RDK enables service providers to quickly deploy a wider library of content and applications across all screens. Marvell SDKs have been proven in multiple generations of Android set-top boxes deployed since 2012.
- Marvell’s advanced Wi-Fi and Bluetooth solutions, the Avastar® 88W8897 (2×2 11ac) and 88W8864 (4×4 11ac)
Marvell will be demonstrating the ARMADA 1500 Ultra at TV Connect 2015 in Marvell’s booth MR30. TV Connect is being held in London at ExCeL London from April 28–30, 2015.
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers mobile and wireless products comprising communications and applications processors; thin modems; and connectivity solutions, counting Wi-Fi, Bluetooth, near field communication, and FM; and mobile computing products, in addition to silicon solutions and Kinoma software.
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