On Wednesday, Shares of The AES Corporation (NYSE:AES), lost -2.55% to $13.36.
The AES Corporation, declared recently the pricing of the Company’s formerly declared secondary public offering of an aggregate of about 60 million shares of its common stock, by Terrific Investment Corporation, a partner controlled by China Investment Corporation (“CIC”), with about 40 million shares offered to the public at $13.25 per share.
Morgan Stanley is acting as the underwriter for the Offering. As part of the Offering, at the Selling Stockholder’s instruction, the underwriter has reserved the remaining 20 million shares to be sold to AES at a price per share equal to the price paid by the underwriter to the Selling Stockholder in the Offering. AES will use cash on hand, and may supplement with borrowings under its revolving credit facility, to fund the purchase. AES anticipates to repay any revolver borrowings upon receipt of dividends from certain of its auxiliaries predictable by fiscal year end. The number of shares of common stock accessible for sale to the general public will be reduced by such reserved shares. Preceding to this share repurchase transaction, AES had $381 million accessible for common stock repurchases under the Company’s current authorization. The AES share purchase transaction was approved by a committee of disinterested directors of the AES board.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries.
Shares of NVIDIA Corporation (NASDAQ:NVDA), inclined 0.58% to $20.95, during its last trading session.
NVIDIA Corporation, declared that it will wind down its Icera modem operations in the second quarter of fiscal 2016. The company is open to a sale of the technology or operations.
The company purchased Icera in 2011 to engage the smartphone revolution with a leading integrated application processor and modem platform. Since then, the company has reshaped its strategy to focus on high-growth opportunities in gaming, automotive and cloud computing applications like deep learning, where its visual computing expertise is greatly valued.
The Icera 4G LTE modem meets the company’s needs for the next year or more. Going forward, the company anticipates to partner with third-party modem suppliers and will no longer develop its own.
The Icera modem operation has about 500 employees, based primarily in the U.K. and France, with smaller operations in Asia and the United States.
NVIDIA Corporation operates as a visual computing company in the United States, Taiwan, China, the rest of Asia Pacific, Europe, and other Americas. The company operates through two segments, GPU and Tegra Processors.
At the end of Wednesday’s trade, Shares of Oracle Corporation (NYSE:ORCL), gained 0.50% to $43.79.
Oracle Utilities declared the availability of Oracle Utilities Work and Asset Administration 2.1 to assist electric, gas, and water utilities better leverage assets and their data for mission-critical activities counting investment planning, enterprise business administration, and risk reduction. This new release puts Oracle Utilities Work and Asset Administration 2.1 on the same technology framework as Oracle’s (NYSE: ORCL) other utility-specific applications, offering a modern, unified asset administration solution that makes it easier for businesses to address customer service and operational challenges.
As data continues to cross organizational silos and influence how consumers make energy choices, Oracle Utilities Work and Asset Administration 2.1 offers utilities a new, proactive way to enhance their capacity for enterprise process administration and customer service. The upgraded solution provides an embedded analytics feature that assists utilities automate data-based tasks and continually improve work planning and scheduling to get more done with fewer resources. As well, the interface can be personalized based on job role to assist accelerate productivity.
Oracle Corporation develops, manufactures, markets, hosts, and supports database and middleware software, application software, cloud infrastructure, hardware systems, and related services worldwide. It provides software and hardware systems, and related services to manage their cloud-based or on-premise IT environments, in addition to deploy cloud software-as-a-service, platform-as-a-service, and infrastructure-as-a-service.
Finally, Merck & Co. Inc. (NYSE:MRK), ended its last trade with -0.44% loss, and closed at $59.18.
Merck & Co., declared that new investigational data in 10 different types of cancer from the company’s immuno-oncology development program evaluating its anti-PD-1 therapy, KEYTRUDA® (pembrolizumab), will be presented at the 51st Annual Meeting of the American Society of Clinical Oncology (ASCO) in Chicago, May 29 – June 2, 2015. Merck is advancing a comprehensive clinical development program for KEYTRUDA, a fact reflected in the more than 40 abstracts accepted for this year’s ASCO meeting, counting 11 oral presentations of which two are late-breakers (Abstract #LBA6008 and #LBA100) selected for the official ASCO press program on Friday, May 29.
“At Merck, we are executing a broad and deep immuno-oncology research program – now in more than 85 studies and 30 different tumor types – to understand the potential for KEYTRUDA in a broad range of cancers, at different stages, lines of therapy, both alone and in combination,” said Dr. Roy Baynes, senior vice president and head of global clinical development, Merck Research Laboratories. “This commitment to breakthrough science has thus far yielded data supporting the potential of KEYTRUDA in 13 different cancers. With our collaborators in the cancer community, we remain focused on pursuing our clinical research program with the aim of advancing therapies with meaningful benefit to patients with cancer.”
Merck & Co., Inc. provides health care solutions worldwide. The company offer therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal infections, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, male pattern hair loss, and fertility diseases.
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