On Friday, Liberty Global, (NASDAQ:LBTYA)’s shares inclined 0.76% to $44.29.
Liberty Global plc (LBTYA) declared the winners of its 2015 Vendor Awards at the Liberty Global Technology Summit at the Ziggo Dome in Amsterdam, the Netherlands on September 16. Senior executives from more than a hundred key vendor partners attended the event together with Liberty Global’s administration teams in the areas of technology, IT, product development and procurement.
Liberty Global recognized its partners’ achievements in five categories: Best Product & Service Quality, Best Support & After Sales, Best Innovation & Breakthrough, Most Sustainable Supplier and PartnerSpark.
The award for Best Product & Service Quality was won by Huawei, the Best Support & After Sales award was won by Prodapt, the award for Best Innovation & Breakthrough went to Alcatel Lucent and the Most Sustainable Supplier award was won by Cisco. The award for PartnerSpark was handed out to Dell. Spark is Liberty Global’s innovation initiative designed to source and refine ideas in response to real business challenges by tapping into the collective creativity of its employees and suppliers.
Liberty Global plc, together with its auxiliaries, provides video, broadband Internet, fixed-line telephony, and mobile services in Europe, Chile, Puerto Rico, and internationally. The company offers various residential services, counting video services comprising basic and premium programming, which can be viewed on the television and Internet connected devices; electronic programming guide, high definition (HD) channels, digital video recorder (DVR), and HD DVR services; video-on-demand, set-top boxes, pay-per-view programming, and programming in three-dimensional format services, in addition to television applications that allow access to programming on laptops, smartphones, and tablets; and entertainment, sports, movies, documentaries, lifestyles, news, adult, children, and ethnic and foreign channels.
International Business Machines Corp. (NYSE:IBM)’s shares gained 0.68% to $144.55.
IBM (NYSE: IBM) declared that Charter Communications, Inc., one of the largest cable entertainment and broadband communications companies in the United States, is implementing its rules-based construction workflow and tracking system in the cloud. Based on a proof of concept in an early adopter program, Charter intends to implement IBM Operational Decision Manager (ODM) on Cloud hosted on IBM SoftLayer into full production now that the service is generally accessible.
In the proof of concept, the IBM ODM on Cloud offering allowed Charter Communications to provide employees with the ability to track construction progress while behind the scenes accounting for the various categories of plant assets added or removed. Charter plans to implement a number of additional decision services using IBM ODM on the Cloud for complex workflow routing, work assignment, job costing, ROI calculations, and project accounting.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support.
At the end of Friday’s trade, Electronic Arts Inc. (NASDAQ:EA)‘s shares dipped -1.06% to $66.49.
Electronic Arts, declared that EA SPORTS™ FIFA 16, winner of the E3 2015 Game Critics Best Sports Game award, is now available in retail stores and as a digital download* worldwide. FIFA 16 has been described by Digital Spy (UK) as, “an impressive beast of a game that’s stuffed with official leagues and licenses, game modes and other little touches that add flavor to the match day experience,” and hailed by EGM (USA) as, “an unparalleled soccer simulation that improves upon FIFA 15 in every aspect.” With gameplay innovation across the entire pitch and brand new ways to play, FIFA 16 lets fans Play Beautiful.
“It has been incredible to see the number of fans already engaging in and enjoying FIFA 16 through EA Access and our preseason demo,” said Nick Channon, Senior Producer of EA SPORTS FIFA. “We are very excited with the early feedback, particularly on the balanced gameplay, and now that the game is launching across the globe, we shift our focus to providing the best live service in the industry.”
Electronic Arts Inc. develops, markets, publishes, and distributes game software content and online services for video game consoles, Internet-connected consoles, personal computers, mobile phones, and tablets worldwide.
C&J Energy Services, Ltd. (NYSE:CJES), ended its Friday’s trading session with 7.89% gain, and closed at $3.83.
C&J Energy Services Ltd. (CJES) declared that it has reached a waiver and second amendment and a third amendment to the credit agreement governing its existing senior secured credit facilities to provide the Company with raised financial flexibility through the third quarter of 2018. The Company is also providing an update to the formerly issued guidance regarding its third quarter results.
Amendments to Credit Facility
The Amendments comprise, among other things, the following terms:
- Reduction in revolving credit facility commitment from $600 million to $400 million, subject to ongoing compliance with a newly implemented collateral coverage covenant, anticipated to provide sufficient liquidity.
- Suspension of the quarterly maximum leverage ratio test and the quarterly minimum interest coverage ratio test, commencing with the quarter ending September 30, 2015 through the quarter ending June 30, 2017, at which time such tests will be reinstated with the quarter ending September 30, 2017, initially at higher levels and tightening through September 30, 2018.
- Implementation of a quarterly minimum EBITDA covenant, commencing with the quarter ending September 30, 2015 and running through the quarter ending June 30, 2017, based on negotiated EBITDA levels and with accumulating cushion baskets accessible for any EBITDA shortfalls through the third quarter of 2016, providing improved flexibility for compliance..
- Enhance to the applicable rate on outstanding Revolver borrowings by (i) 50 basis points in the event that the Company’s most recently stated total leverage ratio is greater than 4.0x and less than or equal to 4.5x and (ii) 100 basis points in the event that the Company’s most recently stated total leverage ratio is greater than 4.5x; however, unused commitment fees will decrease with the $200 million availability reduction, resulting in little-to-no additional interest expense.
C&J Energy Services, Ltd. provides completion and production services for oil and gas industry primarily in North America. The company provides a range of well services involved in the completion, life-of-well maintenance, and plugging and abandonment of a well to oil and natural gas drilling and production companies.
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