On Tuesday, Maxim Integrated Products Inc.(NASDAQ:MXIM)’s shares inclined 2.97% to $33.97.
Voya Financial, Inc. (VOYA), declared that its broker-dealer, Voya Financial Advisors, has launched a hybrid registered investment advisory (RIA) platform. As a result of this launch, certain financial advisors associated with Voya Financial Advisors have the ability to operate with greater flexibility to meet a wide range of customer needs while enabling them to build and expand their practices. The broker-dealer’s advisory business grew to $9.92 billion in 2014, up 25 percent from the previous year, reflecting a focus on positioning advisors to deliver holistic advice that can assist clients get ready to retire better by planning, investing and protecting their savings.
One of the major themes in the independent financial advisor space in recent years has been the noteworthy growth of the hybrid RIA firm. Between 2004 and 2013, the number of advisors who adopted a hybrid RIA business model grew 21.8 percent annually, according to Cerulli Associates’ 2014 Intermediate Distribution report.
Voya Financial, Inc. operates as a retirement, investment, and insurance company in the United States. The company has five segments: Retirement, Annuities, Investment Administration, Individual Life, and Employee Benefits. The Retirement segment offers tax-deferred employer-sponsored retirement savings plans and administrative services in corporate, education, healthcare, and government markets; and rollover individual retirement accounts and other retail financial products, in addition to financial advisory services to individual customers.
Vantage Drilling Company(NYSEMKT:VTG)’s shares dropped -7.57% to $0.0675.
Vantage Drilling Company (VTG) received a notice dated August 31, 2015 (the “Notice”) from Petrobras America, Inc. (“PAI”) and Petrobras Venezuela Investments & Services B.V. (“PVIS”) stating that PAI and PVIS were terminating the Agreement for the Provision of Services Contract for the Titanium Explorer dated February 4, 2009 (the “Drilling Contract”), between PVIS and Vantage Deepwater Drilling Company, a wholly-owned indirect partner of Vantage, and which had been novated to PAI. The Notice alleges that Vantage has breached its obligations under the Drilling Contract. The Notice does not provide any explanation as to the facts and conduct that constitute a breach by Vantage of its obligations under the Drilling Contract.
Vantage strongly disagrees with the allegations of contractual breaches made by PAI and PVIS in the Notice. Vantage has filed for arbitration to challenge the assertions made in the Notice and to assert that the Notice is a wrongful attempt to terminate the Drilling Contract. Vantage believes that it is in compliance with all of its obligations under the Drilling Contract.
Vantage Drilling Company, through its auxiliaries, provides offshore contract drilling services in the United States and internationally. It offers drilling units, related equipment, and work crews under contract to drill oil and natural gas wells. The company also provides construction supervision and operations administration services for drilling units owned by others. As of March 6, 2015, it owned a fleet of seven drilling units, counting three ultra-deepwater drillships and four ultra-premium jackup rigs.
At the end of Tuesday’s trade, Newell Rubbermaid Inc.(NYSE:NWL)‘s shares surged 4.41% to $43.57.
Newell Rubbermaid (NWL) declared it will reaffirm its fiscal year 2015 outlook, as offered in its second quarter 2015 earnings press release dated July 31, 2015,
Non-GAAP Financial Measures
This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission and comprises a reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP.
The company uses certain non-GAAP financial measures that are comprised of in this press release and the additional financial information both in explaining its results to stockholders and the investment community and in its internal evaluation and administration of its businesses. The company’s administration believes that these non-GAAP financial measures and the information they provide are useful to investors since these measures (a) permit investors to view the company’s performance using the same tools that administration uses to evaluate the company’s past performance, reportable business segments and prospects for future performance and (b) determine certain elements of administration’s incentive compensation.
Newell Rubbermaid Inc. manufactures and markets consumer and commercial products worldwide. It operates through five segments: Writing, Home Solutions, Tools, Commercial Products, and Baby & Parenting. The Writing segment offers writing instruments, such as markers and highlighters, pens, and pencils; art products; fine writing instruments; and labeling solutions under the Sharpie, Paper Mate, Expo, Parker, Waterman, and Dymo Office brand names.
Maxim Integrated Products Inc.(NASDAQ:MXIM), ended its Tuesday’s trading session with 2.97% gain, and closed at $33.97.
Sarvint Technologies, Inc., a wearables technology company, recently declared that it has accomplished a Series A round of financing to further develop and commercialize its Wearable Motherboard™ technology. The $6 million investment was led by CTW Venture Partners with participation from Monta Vista Capital and Maxim Ventures. Sarvint has also reached a planned alliance with Maxim Integrated Products, Inc. (MXIM) to bring Sarvint’s products to market.
Sarvint’s Smart Wearable System will be commercially accessible later this year. They are based on the world’s first Wearable Motherboard invented at Georgia Tech by a team of researchers, counting Sundaresan Jayaraman, Ph.D., and Sungmee Park, both of whom are Sarvint co-founders. Georgia Tech Research Corporation awarded Sarvint an exclusive license to the technology in 2014. The company’s Smart Shirt uses specialty fibers to carry signals that measure vital signs such as heart rate, electrocardiogram, temperature, respiration rate and other health metrics that can be monitored by a smartphone. Smart Shirt is one of many products Sarvint will introduce based on the Wearable Motherboard technology.
Maxim Integrated Products, Inc. designs, develops, manufactures, and markets various linear and mixed-signal integrated circuits worldwide. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs. It primarily serves automotive, communications and data center, computing, consumer, and industrial markets.
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