On Tuesday, Shares of Edison International (NYSE:EIX), lost -0.05% to $63.56.
Southern California Edison, an Edison International company, filed comments on the projected decision on its 2015-2017 General Rate Case, which is pending before the California Public Utilities Commission (CPUC). The projected decision was issued on Sept. 18.
The comments focus primarily on recommendations in the projected decision related to compensation, depreciation and taxes. Edison International will consider the information available from the projected decision in its third-quarter financial results, which will be issued on Oct. 27, and will do the same based on a final decision, which is predictable in the fourth quarter of 2015.
Edison International, through its auxiliaries, generates and supplies electricity. The company generates electricity through hydroelectric, diesel, natural gas, nuclear, and photovoltaic sources. It supplies electricity primarily to commercial, residential, agricultural and other, industrial, and public authorities through transmission and distribution networks.
Shares of Microchip Technology Inc. (NASDAQ:MCHP), declined -0.48% to $46.06, during its last trading session.
Microchip Technology, declared that system designers using the de-facto industry standard, MOST technology, in their automotive infotainment networks can now leverage Microchip’s broad product portfolio of MOST networking products to quickly bring cost-efficient CI+-based Pay TV to their cars. The MOST Cooperation recently released its latest MOST Stream Transmission Specification, which comprises support for the MOST CI+ Interim License Agreement issued by CI Plus LLP. CI+ is a technical specification that provides additional security and features to the proven DVB Common Interface Standard, and now allows a MOST network to transport CI+ protected content using Digital Transmission Content Protection (DTCP). According to CI Plus, CI+ compatible consumer electronic devices, such as integrated digital televisions and set-top boxes, can access a wide range of Pay TV Services via plug-in CI+ Modules, wherever the CI+ technology is supported by the local Pay TV provider.
“We are proud to offer our customers a complete, easy-to-use, cost-efficient solution to transport the latest CI+ protected digital video inside automobiles,” said Dan Termer, vice president of Microchip’s Automotive Information Systems Division. “Once again, this demonstrates Microchip’s close partnershipwith our customers and commitment to listening to their needs.”
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers microcontrollers, such as 8-bit, 16-bit, and 32-bit microcontrollers under the PIC brand name; and 16-bit dsPIC digital signal controllers, in addition to provides microcontrollers for automotive networking, computing, lighting, power supplies, wireless communication, and wireless audio applications.
Finally, Yadkin Financial Corp (NYSE:YDKN), ended its last trade with -4.34% loss, and closed at $21.80.
Yadkin Financial Corporation and NewBridge Bancorp, jointly declared that they have reached a definitive merger agreement, following which Yadkin will acquire NewBridge. The combination will strengthen Yadkin as the largest community bank headquartered in North Carolina.
Based on financials stated on June 30, 2015, the combined company would have total assets of $7.1 billion, deposits of $5.2 billion and loans of $5.0 billion. Yadkin will operate in all major North Carolina markets, enhancing its statewide presence in its existing footprint and expanding into the Piedmont Triad.
Yadkin will acquire 100% of the outstanding shares of NewBridge in exchange for shares of Yadkin’s common stock. The exchange ratio has been fixed at 0.50 shares of Yadkin’s common stock for each share of NewBridge which equates to a deal value of $11.40 per share, or about $456 million in the aggregate, based on YDKN’s closing price of $22.79 as of October 12, 2015.
Yadkin Financial Corporation operates as a holding company for Yadkin Bank that provides commercial banking services for businesses, business owners, and professionals in the United States.
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