On Wednesday, Avid Technology, Inc. (NASDAQ:AVID)’s shares declined -1.54% to $16.00.
Avid Technology, Inc. (AVID) declared the pricing of an offering of $125 million aggregate principal amount of its convertible senior notes due 2020 (the “notes”) in a private placement to qualified institutional buyers following Rule 144A under the Securities Act of 1933, as amended (the “Act”). The size of the offering was raised from the formerly declared $115 million aggregate principal amount. Co presently with the pricing of the notes, Avid reached a capped call transaction with an associate of one of the initial purchasers. The sale of the notes is predictable to close on June 15, 2015, subject to customary closing conditions.
Avid also granted the initial purchasers of the notes an option to purchase up to an additional $15.0 million aggregate principal amount of the notes.
The notes will be senior unsecured obligations of Avid, and interest will be payable semi-annually at a rate of 2.00% per annum. The notes will mature on June 15, 2020, unless converted or repurchased in accordance with their terms prior to such date. Prior to December 15, 2019, the notes will be convertible at the option of holders only upon the occurrence of specified events or during certain periods; thereafter, until the second planned trading day prior to maturity, the notes will be convertible at the option of holders at any time.
Avid Technology, Inc. develops, markets, sells, and supports software and hardware for digital media content production, administration, and distribution in the United States, the other Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers various professional video creative tools, counting Media Composer product line, which is used to edit television programs, commercials, and films; NewsCutter option and iNews systems for news production; and Avid Symphony option that is used during post-production.
Zulily Inc (NASDAQ:ZU)’s shares gained 2.99% to $13.80.
Zulily Inc (ZU) declared that Darrell Cavens, President and Chief Executive Officer, and Brian Swartz, Chief Financial Officer, will take part in the will take part in a question-and-answer session at the Goldman Sachs dotCommerce Day in New York, NY on Thursday, June 18, 2015 at 10:30 a.m. ET.
zulily, inc. operates as an online retailer in the United States, Canada, Australia, the United Kingdom, and internationally. The company provides merchandise to moms purchasing for their children, themselves, and their homes.
At the end of Wednesday’s trade, Sabre Corp (NASDAQ:SABR)‘s shares surged 0.37% to $24.61.
Sabre Corp (SABR) has signed a new technology agreement with Turkey’s leading passenger air carrier, Turkish Airlines, to provide its AirCentre Flight Plan Manager solution to streamline the airline’s operations. In addition, the airline will be moving from its current flight tracking system to adopt Sabre’s Flight Explorer within the scope of this agreement.
Since the start of this agreement, Sabre has worked closely with Turkish Airlines to implement AirCentre Flight Plan Manager to provide vital cost savings and support key flight planning decisions. Under the new agreement, the solution will provide a noteworthy support for strengthening the flag carrier’s position within the regions it serves.
Sabre Corporation provides technology solutions to the travel and tourism industry worldwide. It operates in two segments: Travel Network, and Airline and Hospitality Solutions. The Travel Network segment operates a business-to-business travel marketplace that offers travel content, such as inventory, prices, and availability from a range of travel suppliers, counting airlines, hotels, car rental brands, rail carriers, cruise lines, and tour operators, with a network of travel buyers comprising online and offline travel agencies, travel administration companies, and corporate travel departments. The Airline Hospitality Solutions segment offers a portfolio of software technology products and solutions through software-as-a-service and hosted delivery models to airlines, hotel properties, and other travel suppliers.
Franklin Resources, Inc. (NYSE:BEN), ended its Wednesday’s trading session with 1.23% gain, and closed at $50.27.
Franklin Resources, Inc. (BEN) declared the expansion of its retirement target fund lineup for US investors with the introduction of Franklin LifeSmart™ 2055 Retirement Target Fund. Like other funds in the lineup, the fund’s assets are allocated among the broad asset classes of equity, fixed-income and alternative investments by investing predominantly in other Franklin Templeton mutual funds, based on each underlying fund’s predominant asset class and strategy. The new fund joins a lineup that comprises 2015, 2020, 2025, 2030, 2035, 2040, 2045 and 2050 funds.
Like the existing Franklin LifeSmart Retirement Target Funds, the new 2055 fund will target a five percent allocation to alternative investment funds to take advantage of their lower correlation, in general, with traditional asset classes. The funds’ managers have the ability to tactically adjust this allocation within a range of zero to 10 percent as they shift the funds’ allocations based on changing market conditions.
Franklin Resources, Inc. is a publicly owned asset administration holding company. Through its auxiliaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its auxiliaries.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.