Pre- Market News Review: Johnson Controls (NYSE:JCI), Altera (NASDAQ:ALTR), Deere & Company (NYSE:DE), Orbitz Worldwide, (NYSE:OWW)
Johnson Controls Inc (JCI) declared it has designated Greg Guyett executive vice president, Corporate Development, effective Aug. 10. In this role, Guyett will have responsibility for maintaining and developing relationships with external financial advisory firms, leading merger and acquisition activities, and working with the businesses on growth initiatives for the multi industrial company.
Guyett most served as head of investment banking, Asia Pacific for J.P. Morgan. Prior to that, Guyett served in a number of assignments with J.P. Morgan across the globe. Earlier in his career he was a senior banker advising many of the largest industrial and automotive companies on a broad range of planned issues.
Guyett received a bachelor’s degree in art and archaeology from Princeton University.
Johnson Controls, Inc. operates as a diversified technology and industrial company worldwide. Its Building Efficiency segment designs, produces, markets, and installs integrated heating, ventilating, and air conditioning systems, in addition to building administration systems, controls, and security and mechanical equipment.
Altera Corporation (NASDAQ:ALTR)’s shares gained 0.14% to $51.34.
Altera Corporation (ALTR) declared the company has joined the Open Platform for NFV (OPNFV), a carrier-grade, integrated, open source flexible platform intended to accelerate the introduction of new products and services using NFV (network function virtualization). As an open source project, OPNFV is positioned to bring together the work of standards bodies, open source communities and commercial suppliers to deliver a de facto standard open source NFV platform for the industry.
NFV uses IT virtualization technologies to virtualize entire classes of network node functions into building blocks that may be connected, or chained, to create communication services. Altera will join working groups inside the OPNFV to expand the use of FPGA accelerators in virtual machines running different software and processes on top of industry-standard, high-volume servers, storage and cloud computing infrastructure.
. Altera Corporation, a semiconductor company, designs and sells programmable logic devices (PLDs), HardCopy application-specific integrated circuit (ASIC) devices, power system-on-chip devices (PowerSoCs), pre-defined design building blocks, and associated development tools.
At the end of Thursday’s trade, Deere & Company (NYSE:DE)‘s shares surged 0.15% to $96.33.
Deere & Company (DE) reiterated its support for Trade Promotion Authority legislation passed recently by the U.S. Senate after earlier approval by the U.S. House of Representatives. It now moves to U.S. President Barack Obama, who is predictable to sign the bill into law.
TPA enables a U.S. President to submit projected trade agreement legislation to Congress for a yes or no vote, providing assurance to projected trading partners that the agreement will not be modified after negotiations have been accomplished.
Estimates state that more than one in five American jobs is supported by international trade. U.S. job growth from 2004 to 2013 was three times higher for trade-related jobs contrast with average job growth. In 2013, countries that have free-trade agreements with the U.S. purchased 12 times more goods per capita from the United States than those that don’t have such agreements.
Orbitz Worldwide, Inc. (NYSE:OWW), ended its Thursday’s trading session with 0.09% gain, and closed at $11.31.
Orbitz Worldwide, Inc. (OWW) declared that at its annual stockholders meeting recently in Chicago, stockholders approved the merger agreement providing for the acquisition of Orbitz Worldwide by Expedia, Inc. (EXPE). About 74 percent of the shares outstanding voted in favor of the transaction. More than 99 percent of the votes cast were in favor of the transaction.
Expedia, Inc. and Orbitz Worldwide declared their entry into the merger agreement on Feb. 12, 2015, whereby Expedia agreed to acquire all outstanding shares of Orbitz Worldwide at $12 per share. On March 25, the two companies declared that they had each received a request for additional information and documentary material (“second request”) from the U.S. Department of Justice (DOJ) as part of the agency’s regulatory review. The two companies continue to fully cooperate with the DOJ. The transaction also remains subject to additional customary closing conditions.
Orbitz Worldwide, Inc. operates as an online travel company worldwide. It uses technology that enables leisure and business travelers to research, plan, and book a range of travel products and services, counting hotels, flights, vacation packages, car rentals, rail tickets, cruises, travel insurance, destination, services and event tickets. It also provides various travel administration services; and private label travel solutions to a range of partners.
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