On Friday, Shares of General Motors Company (NYSE:GM), lost -1.18% to $34.76.
The U.S. Department of Energy and General Motors Company, declared The Ohio State University as the overall winning team for Year One of the EcoCAR 3 competition, a four-year collegiate engineering program that gives students the chance to design, build, and demonstrate cutting-edge, eco-friendly automotive technologies in the all-new 2016 Chevrolet Camaro.
The Ohio State has shown all-around excellence in Year One, demonstrating a highly mature software development process, and as a result received a trophy, $10,000 and repeat winner bragging rights. The team earned a total of 937 points out of 1,000 and also took first place in the Communications and Project Administration categories. Judges were impressed by their efforts in identifying a target market for their vehicle and branding strategy, counting a memorable tagline: “Classic.Recharged.”
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.
Shares of The Procter & Gamble Company (NYSE:PG), declined -0.92% to $77.43, during its last trading session.
The Procter & Gamble Company, will be a featured speaker at the Deutsche Bank dbAccess Global Consumer Conference in Paris on Thursday, June 11, 2015 at 10:30 A.M. CEST (Central European Summer Time).
The Procter & Gamble Company, together with its auxiliaries, manufactures and sells branded consumer packaged goods. The company operates through five segments: Beauty; Grooming; Health Care; Fabric Care and Home Care; and Baby, Feminine and Family Care.
At the end of Friday’s trade, Shares of Qunar Cayman Islands Limited (NASDAQ:QUNR), gained 7.66% to $51.41.
Qunar Cayman Islands, declared the pricing of its public offering of 6,526,316 American Depositary Shares at a price of US$47.50 per ADS. Each ADS represents three Class B ordinary shares of the Company. The Company has granted to the underwriters a 30-day option to purchase up to an additional 315,790 ADSs.
The Company intends to use a majority of the net proceeds for general corporate purposes, counting the acquisition of new users. The Company also may use a portion of the net proceeds to acquire complementary businesses, products, services or technologies. However, the Company has not yet reached any agreements or commitments for any specific acquisitions at this time.
Goldman Sachs (Asia) L.L.C. is acting as sole bookrunner for the offering and BofA Merrill Lynch, Pacific Crest Securities and Stifel are acting as co-managers.
Qunar Cayman Islands Limited operates an online travel commerce platform in the People’s Republic of China. The company through its platform provides a range of travel products comprising flight tickets, hotels, vacation packages, and attraction tickets, in addition to display advertising, train tickets, car services, smart lodging, and other services.
Finally, Amkor Technology, Inc. (NASDAQ:AMKR), ended its last trade with 0.76% gain, and closed at $6.64.
Amkor Technology, declared that it has issued a notice for the redemption of all $345 million aggregate principal amount of the Company’s outstanding 7.375% Senior Notes due 2018 to be effected on June 19, 2015. In accordance with the terms of the indenture governing the Notes, the redemption price will be 101.844% of the principal amount of the Notes, or $1,018.44 per $1,000.00 principal amount thereof, paid in cash. In addition, the Company will pay accrued and unpaid interest on the Notes to, but not taking into account, the redemption date.
The Company plans to fund the redemption of the Notes with borrowings under the Company’s credit facilities and cash on hand. The new borrowings bear interest at floating rates tied to LIBOR and, based on current interest rates, it is estimated that the redemption would result in potential annualized interest savings of about $17 million. The Company also anticipates to record a one-time charge in the second quarter of 2015 of about $9 million for early extinguishment of debt.
Amkor Technology, Inc. provides outsourced semiconductor packaging and test services in the United States, China, Ireland, Japan, Singapore, Taiwan, Thailand, and internationally. The company offers turnkey packaging and test services, counting semiconductor wafer bumps, wafer probes, wafer backgrinds, package design, packaging, and test and drop shipment services.
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