On Wednesday, Analog Devices, Inc. (NASDAQ:ADI)’s shares declined -2.27% to $61.94.
Analog Devices, Inc. named senior engineers Ahmed Ali and Peter Katzin Analog Devices Fellows, a distinguished technical position awarded to engineers who contribute significantly to the company’s business success through exceptional innovation, leadership, entrepreneurship and an unparalleled ability to bridge organizations and mentor others within the company. In addition to their business impact, Analog Devices Fellows serve as company ambassadors and are recognized as industry leaders in their fields of expertise.
Ahmed Ali received his BSEE and MSEE from Ain Shams University in Cairo, Egypt. He accomplished his PhD at the University of Pennsylvania in 1999. His experience comprises high-speed converters and RF synthesizers for cellular applications, in addition to serving as an adjunct professor at the University of Pennsylvania. In 2002, Ali joined Analog Devices’ High-Speed Converter Group in Greensboro, N.C., where he began working on pipelined analog-to-digital converters that have assisted Analog Devices set a series of industry-leading performance benchmarks.
Analog Devices, Inc. engages in the design, manufacture, and marketing of analog, mixed-signal, and digital signal processing integrated circuits (ICs) for use in industrial, automotive, consumer, and communication markets worldwide. It offers signal processing products that convert, condition, and process real-world phenomena, such as temperature, pressure, sound, light, speed, and motion into electrical signals. The company’s products comprise data converters, which translate real-world analog signals into digital data and translate digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency ICs to support cellular infrastructure.
Liberty Interactive Group (NASDAQ:QVCA)’s shares dropped -2.84% to $27.32.
Liberty Interactive Corporation (QVCA) declared that it has reached an agreement with Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK) whereby Liberty Interactive will invest $2.4 billion in Liberty Broadband in connection with (and contingent upon) the closing of declared projected merger of Charter Communications, Inc. (“Charter”) and Time Warner Cable Inc. (“TWC”). The proceeds of this investment will be used by Liberty Broadband to fund, in part, its agreement to acquire $4.3 billion of Charter stock. Liberty Broadband’s acquisition will be made in support of (and contingent upon) the closing of the Charter-TWC merger. In connection with these transactions, it is predictable that Charter will undergo a corporate reorganization, resulting in a current partner of Charter becoming the publicly traded parent company (“New Charter”). Liberty Interactive’s investment in Liberty Broadband will be funded using cash on hand and will be attributed to the Liberty Ventures Group.
Liberty Interactive Corporation, through its auxiliaries, engages in the video and on-line commerce industries in North America, Europe, and Asia. It markets and sells various consumer products primarily through live televised shopping programs, Websites, and mobile applications.
At the end of Wednesday’s trade, McDermott International (NYSE:MDR)‘s shares dipped -4.60% to $4.77.
McDermott International, Inc. (MDR) has been awarded a sizeable lump sum contract by LLOG Exploration Offshore, LLC (LLOG) in support of LLOG’s Otis development located in the Gulf of Mexico. The lump sum contract will be included in McDermott’s second quarter 2015 backlog.
The Otis field, located in Block Mississippi Canyon 79, will be developed as a subsea tieback to the Delta House floating production system (FPS) and lies in about 3,800 feet of water. The contract scope comprises:
- Project administration;
- Engineering, fabrication and installation of a 75,000-foot insulated rigid flowline and insulated steel catenary riser (SCR) with associated pipeline end termination (PLET) and jumper; and,
- Pre-commissioning.
McDermott’s Houston office will perform the overall project administration and engineering. The flowline and SCR are planned to be assembled and fabricated at McDermott’s new spoolbase facility in Gulfport, Mississippi.
McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.
Dominion Resources, Inc. (NYSE:D), ended its Wednesday’s trading session with 0.14% gain, and closed at $69.43.
Dominion Resources (D) asked the Virginia State Corporate Commission (SCC) for a Certificate of Public Convenience and Necessity to build a $1.3 billion state-of-the-art natural gas-fired power station in Greensville County.
If approved, the high-efficiency, combined-cycle station would generate about 1,600 megawatts, enough electricity to power 400,000 typical homes during peak demand. Construction is planned to start next year pending SCC approval.
The station will have a low carbon intensity because it utilizes clean burning natural gas, combined cycle technology and best accessible control technology to reduce emissions. It will also have lower water usage and a wastewater discharge plan that minimizes the impact to rivers and streams.
Greensville Power Station is part of Dominion’s plan for meeting demanding new air quality and projected carbon dioxide emissions standards while keeping up with growing customer demand for energy. When the station is online in 2019, it will be part of a diverse portfolio that comprises 400 megawatts of planned solar generation, counting zero carbon emission nuclear power.
Dominion Resources, Inc. produces and transports energy in the United States. The company operates through three segments: Dominion Virginia Power (DVP), Dominion Generation, and Dominion Energy. The DVP segment engages in regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina.
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