On Friday, Ruckus Wireless Inc (NYSE:RKUS)’s shares inclined 4.24% to $11.79.
Ruckus Wireless Inc (RKUS) declared that it is working with Smartac Group China Holdings Limited (Smartac) to assist build Ruckus Smart WiFi networks covering more than 300 passenger stations for three major railroad systems in China—Beijing, Guangzhou, and Lanzhou. The ongoing deployment is part of a long-term project to upgrade wireless networks across China’s vast passenger railway transportation system. These Ruckus Smart WiFi networks will not only provide a high-performance wireless Internet access experience for railway passengers, they will also provide comprehensive, real-time passenger data for railway station operators. The entire project is designed to make China’s railway passenger stations “Smart stations.” These new Smart stations are part of the emerging global trend to create Smart cities. The concept involves using state-of-the-art communications technology that improves municipal operations and services to enhance the way of life for residents and visitors of major urban centers.
Smartac Group is one of the most practiced ‘new-generation’ mobile Internet gateway providers in China. As one of the largest service providers of wireless networks for China’s railroad passenger stations, Smartac business comprises 379 of the busiest stations in two municipalities, Beijing and Tianjin. Smartac also provides network services to 11 other provinces and autonomous regions (Gansu, Guangdong, Guizhou, Hunan, Hubei, Hebei, Inner Mongolia, Ningxia, Shandong, Shaanxi, and Shanxi), serving 2 billion passengers a year.
Ruckus Wireless, Inc. provides carrier-class Wi-Fi solutions to service providers and enterprises worldwide. It provides gateways, controllers, and access points with related software and services. The company offers SmartCell, a line of carrier-grade wireless access and administration products that comprise specialized hardware products, such as SmartCell Gateways and SmartCell Access Points, in addition to software solutions comprising virtualized SmartCell Gateway and SmartCell Insight software platforms.
DryShips Inc. (NASDAQ:DRYS)’s shares dropped -0.88% to $0.674.
DryShips Inc. (DRYS) declared that Ocean Rig closed the formerly declared offering of 28,571,428 shares of its common stock, par value $0.01 per share, at a price of $7.00 per share. As part of the offering, George Economou, Ocean Rig’s Chairman, President and Chief Executive Officer, purchased $10 million, or 1,428,571 shares, of common stock in the offering at the public offering price, a number of common shares that maintains his direct ownership in Ocean Rig, represent about five percent of its common stock.
Clarksons Platou Securities, Inc., Pareto Securities Inc. and Seaport Global Securities LLC acted as joint lead managers, joint bookrunners and placement agents in the offering. Clarksons Platou Securities AS and Pareto Securities AS are acting as placement agents. The total net proceeds to Ocean Rig from the offering, after deducting offering fees and expenses, were about $193.9 million. Ocean Rig intends to use the net proceeds from the offering for working capital and general corporate purposes, counting the acquisition of drilling rigs.
DryShips Inc. provides ocean transportation services for drybulk and petroleum cargoes, and offshore deepwater drilling services. The company operates through Drybulk, Tanker, and Drilling segments. The Drybulk segment provides drybulk commodities transportation services for the steel, electric utility, construction, and agri-food industries. The Drilling segment offers ultra deep water drilling services.
At the end of Friday’s trade, PNC Financial Services Group Inc (NYSE:PNC)‘s shares dipped -0.36% to $98.42.
PNC Financial Services Group Inc (PNC) Motorcar Parts of America, Inc. (MPAA) declared it has reached a $125 million credit facility with PNC Bank National Association (PNC) comprising of a $100 million revolver and $25 million term loan.
Loans outstanding under the new credit facility bear interest, at the company’s option, at the domestic rate or at the LIBOR rate plus, in each case, an applicable per annum margin. The current applicable LIBOR interest rate for both the revolver and the term loan is 2.94%, comprising of LIBOR of 0.19% plus a margin of 2.75%. The new credit facility replaces a previous credit facility, comprised of an outstanding $82.4 million term loan and an undrawn $40 million revolver. The applicable LIBOR interest rate for the previous term loan was 6.75%, comprising of a LIBOR floor of 1.50% plus a margin of 5.25%. Post-closing, the company had a $25 million term loan outstanding, in addition to $15 million of borrowings on the revolving credit facility.
The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. It operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Administration Group, Residential Mortgage Banking, BlackRock, and Non-Planned Assets Portfolio. The Retail Banking segment offers deposit, lending, brokerage, investment administration, and cash administration services to consumer and small business customers through branch network, ATMs, call centers, online banking, and mobile channels.
Coach Inc (NYSE:COH), ended its Friday’s trading session with 0.14% gain, and closed at $35.12.
Coach Inc (COH) declared that its Board of Directors has declared a quarterly cash dividend of $0.3375 per common share. The dividend is payable on June 29, 2015 to shareholders of record as of the close of business on June 5, 2015.
Coach, established in New York City in 1941, is a leading design house of modern luxury accessories and lifestyle collections with a rich heritage of pairing exceptional leathers and materials with innovative design. Coach is sold worldwide through Coach Stores, select department stores and specialty stores, and through Coach’s website at www.coach.com. Coach’s common stock is traded on the New York Stock Exchange under the symbol COH and Coach’s Hong Kong Depositary Receipts are traded on The Stock Exchange of Hong Kong Limited under the symbol 6388.
Coach, Inc. provides luxury accessories and lifestyle collections for women and men in the United States and internationally. It offers handbags, money pieces, wristlets, rings, charms, and cosmetic cases for women; and business cases, computer bags, messenger-style bags, totes, wallets, card cases, and belts, as well as time management and electronic accessories for men.
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