During Thursday’s current trade, Microsoft Corporation (NASDAQ:MSFT)’s shares dipped -0.30% to $42.13, while Yahoo! Inc. (NASDAQ:YHOO)’s shares declined -0.04% to $45.65.
Today, Microsoft, (NASDAQ:MSFT) and Yahoo, (NASDAQ:YHOO) declared that the companies amended their search partnership to improve the search experience, create value for advertisers and establish ongoing stability for partners. The update reaffirms commitments made by both companies in the original 2009 contract, while implementing changes to keep the partnership strong and productive, with both companies committed to maximizing the alliance.
The update comprises improvements in two core areas. First, Yahoo will now have raised flexibility to enhance the search experience on any platform, since the partnership is non-exclusive for both desktop and mobile. Yahoo will continue to serve Bing ads and search results for a majority of its desktop search traffic.
Second, the update raises agility and sales focus. Microsoft will become the exclusive salesforce for ads delivered by Microsoft’s Bing Ads platform, while Yahoo will continue to be the exclusive salesforce for Yahoo’s Gemini ads platform. Integrating the sales teams with those responsible for engineering will allow both companies to service advertisers more effectively. Microsoft and Yahoo plan to start to transition managed advertiser sales responsibilities this summer.
The partnership, formed in 2009 by both CEOs’ predecessors, established a transformative relationship between the two companies — one where Microsoft exclusively offered paid and algorithmic search services on PC to Yahoo. The alliance also designated a revenue sharing contract where Microsoft pays Yahoo a percentage of Bing Ads revenue delivered from Yahoo searches. This existing underlying economic structure remains unchanged with today’s updates.
Microsoft Corporation develops, licenses, markets, and supports software, services, and devices worldwide. The company’s Devices and Consumer (D&C) Licensing segment licenses Windows operating system and related software; Microsoft Office for consumers; and Windows Phone operating system.
Cisco Systems, Inc. (NASDAQ:CSCO), during its Thursday’s current trading session gained 0.90%, to $28.50.
Identiv, Inc. (INVE) declared that it has reached an contract with Cisco Systems Inc. (CSCO) to provide solutions for the Internet of Everything (IoE). The IoE is the intelligent connection of people, processes, data and things to the Internet, bringing unprecedented economic opportunities to both the private and public sectors. Initially, Identiv will deliver a next-generation, networked physical access control system (PACS) solution that interacts with other IoE elements, such as Cisco virtual supervisor module (VSM) cameras and Cisco voice-over-IP (VoIP) telephony products.
Identiv will offer a completely network based access control system, counting credentials, advanced networked uTrust TS door sensors, Power-over-Ethernet (PoE) door controllers and access control software. Identiv is committed to disrupting the traditional physical access market by offering a fully network-based solution that is easy to buy and use. Customers will gain improved value, lower installation costs and less complexity by using standards-based network cabling, leading to reduced total cost of ownership (TCO) and improved return on investment (ROI).
Financial terms of the partnership were not revealed.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking products and services related to the communications and information technology industry worldwide. It provides switching products, counting fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and NGN routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
Finally, KeyCorp. (NYSE:KEY), gained 0.46% Thursday.
Today, KeyCorp declared first quarter net income from ongoing operations attributable to Key common shareholders of $222 million, or $.26 per common share, contrast to $246 million, or $.28 per common share, for the fourth quarter of 2014, and $232 million, or $.26 per common share, for the first quarter of 2014.
FIRST QUARTER 2015 FINANCIAL RESULTS, from ongoing operations:
Contrast to First Quarter of 2014:
- Average loans up 5.1%, driven by a 11.5% growth in commercial, financial and agricultural loans
- Average deposits up 4.9%, due to growth in noninterest-bearing deposits
- Net interest income (taxable-equivalent) up $8 million, driven by higher loan balances partially offset by lower earning asset yields
- Noninterest income up $2 million, reflecting raises in trust and investment services income primarily from the third quarter 2014 acquisition of Pacific Crest Securities and various other line items, partially offset by declines in investment banking and debt placement fees and operating lease income and other leasing gains
- Noninterest expense up $5 million primarily due to the acquisition of Pacific Crest Securities and higher employee benefits expense
- Solid asset quality, with net loan charge-offs to average loans remaining well below our targeted range of 40-60 basis points
- Disciplined capital administration, with the declaration of new planned capital actions counting a share repurchase program of up to $725 million and, subject to approval by Key’s Board of Directors, an raise of the quarterly common share dividend to $.075 per share.
KeyCorp operates as the bank holding company for KeyBank National Association that provides various retail and commercial banking services to individual, corporate, and institutional clients in the United States.
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