On Thursday, SAP SE (ADR) (NYSE:SAP)’s shares declined -0.16% to $63.38.
Procure-to-pay efficiency is something many organizations strive for. But with the assist of Ariba, an SAP company, the University of Washington, one of the world’s preeminent public universities, is achieving it. On October 8, Laurie Hunt, Director Procurement Services IT & System Support, will share the secrets of the institution’s success at the Ariba Commerce Summit in San Mateo, California. Part of a 14-city global tour, the exclusive event will be held at the San Mateo Marriott.
To remedy the situation, UW began looking for a technology partner that could assist it fuel a comprehensive procure-to-pay process and deliver solutions in a hybrid manner so that it could maximize its existing systems and extend the value they deliver. It found one in Ariba.
UW started by implementing on-premise versions of Ariba’s procurement and expense solutions, which it used alongside homegrown systems to:
- Create a standard, best-practice procure-to-pay process that would provide a clear view into spend and improve controls and compliance
- Enable suppliers to collaborate electronically on everything from orders and invoices to payments.
SAP SE, formerly SAP AG, is a provider of application and analytics software for enterprises in mobile enterprise management. SAP is an enterprise cloud company. As of December 31, 2014, the Company has more than 282,000 customers in over 180 countries.
H & R Block Inc (NYSE:HRB)’s shares dropped -0.91% to $35.77.
H & R Block declared recently that its wholly owned partner, Block Financial LLC, reached a new five-year, $2.0 billion Credit and Guarantee Agreement (the “Agreement”).
The execution of this Agreement satisfies a condition of the company’s formerly declared tender offer to purchase up to $1.5 billion of its common stock. The tender offer, however, remains subject to the other conditions described in the Offer to Purchase, dated September 2, 2015. The tender offer will expire at 5:00 P.M., New York City time, on Friday, October 2, 2015, unless the company extends the tender offer.
The Agreement matures on September 21, 2020, unless extended following the terms of the Agreement, and contains customary representations, warranties, covenants, and events of default. The Agreement also contains financial covenants comprising of: (1) a covenant requiring the company to maintain a debt-to-EBITDA ratio calculated on a merged basis of no greater than 3.5 to 1.0 as of the last day of each fiscal quarter ending on April 30, July 31 and October 31 of each year and 4.5 to 1.0 as of the last day of the fiscal quarter ending on January 31 of each year; and (2) a covenant requiring the company to maintain an interest coverage (EBITDA-to-interest expense) ratio calculated on a merged basis of not less than 2.5 to 1.0 as of the last day of any fiscal quarter. The company intends to borrow amounts under the new credit facility from time to time in the future, rather than issuing commercial paper, to support the company’s working capital needs or for other general corporate purposes.
H&R Block, Inc. (H&R Block) is a holding company. The Company, through its subsidiaries, provides tax preparation and other services. The Company provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, and its territories, Canada and Australia.
At the end of Thursday’s trade, Xilinx, Inc. (NASDAQ:XLNX)‘s shares surged 1.18% to $42.00.
Shares of Xilinx were the target of a noteworthy drop in short interest in September. As of September 15th, there was short interest totaling 9,988,282 shares, a drop of 17.3% from the August 31st total of 12,074,436 shares, MarketBeat reports. Presently, 3.9% of the company’s stock are short sold. Based on an average trading volume of 2,974,372 shares, the short-interest ratio is presently 3.4 days.
The firm also declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Thursday, August 6th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Tuesday, August 4th.
Xilinx, Inc., is a technology company. The Company is engaged in designing and developing programmable devices and associated technologies.
CTI BioPharma Corp (NASDAQ:CTIC), ended its Thursday’s trading session with 3.18% gain, and closed at $1.62.
CTI BioPharma Corp declared that it has reached a contract with institutional investors to purchase 10 million shares of the Company’s common stock in a registered direct offering conducted without an underwriter or placement agent for gross proceeds to the Company of about $15.7 million at a purchase price per share of $1.57, equal to the merged closing bid price on The NASDAQ Global MarketSM on September 23, 2015. The net proceeds from the Offering, after deducting estimated offering expenses, will be about $15.1 million.
CTI BioPharma plans to use the net proceeds from the Offering to support the continued clinical development of its lead product candidate, pacritinib, as a potential new treatment for patients with myelofibrosis, and additional research into new indications outside of myelofibrosis, and for general corporate purposes. The Offering is predictable to close on or about September 29, 2015.
CTI BioPharma Corp. (CTI), formerly Cell Therapeutics, Inc., is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers that offer a benefit to patients and healthcare providers.
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