Shares of Mondelez International Inc (NASDAQ:MDLZ) ended Tuesday session in green amid volatile trading. The shares closed up +0.44 points or 1.03% at $43.16 with 8.30 million shares getting traded. Post opening the session at $43.39, the shares hit an intraday low of $42.75 and an intraday high of $43.39 and the price vacillated in this range throughout the day. The company has a market cap of $66.81 billion and the numbers of outstanding shares have been calculated to be 1.56 billion shares.
Mondelez International Inc (MDLZ) on Sept. 14, 2016 confirmed a $65 million investment to build a global Research, Development & Quality (RDQ) network of the future. The investment will enable the company to better recruit, retain and develop talent across a range of science and technical disciplines while also creating a stronger presence in both emerging and developed markets. When complete, the redesigned network will consist of a combination of new and existing technical centers that will be more flexible and agile in responding to the company’s growth and innovation needs.
Over the next two years, the company will focus its RDQ network at nine advantaged technical centers, concentrating people and resources into better equipped hubs:
- Mexico City, Mexico
- East Hanover, N.J., United States
- Bournville, United Kingdom
- Reading, United Kingdom
- Wroclaw, Poland
- Thane, India
- Suzhou, China
- Jurong, Singapore
- Curitiba, Brazil
“With these advantaged technical centers, we’re focusing our investment in research, equipment and capabilities to drive innovation to support our growth strategy and innovation, margin and quality platforms,” said Rob Hargrove, Executive Vice President, RDQ. “These hubs will enable improved efficiency, effectiveness and accelerated project delivery, while the increased scale across key markets will provide rapid access to changing consumer needs and trends.”
Three of the centers — East Hanover, Bournville and Reading — are already in full operation. The company will break ground on the Singapore facility in November 2016 and the Thane facility in December 2016 with the new Wroclaw building opening in 2017. The remainder of the redesigned network will open through 2018.
Shares of VeriFone Systems Inc (NYSE:PAY) ended Tuesday session in red amid volatile trading. The shares closed down -0.15 points or -0.93% at $15.95 with 1.70 million shares getting traded. Post opening the session at $16.10, the shares hit an intraday low of $15.95 and an intraday high of $16.26 and the price vacillated in this range throughout the day. The company has a market cap of $1.81 billion and the numbers of outstanding shares have been calculated to be 110.97 million shares.
VeriFone Systems Inc (PAY) on September 2, 2016 announced financial results for the three months ended July 31, 2016.
Third Quarter Financial Highlights
- GAAP net revenues of $488 million and Non-GAAP net revenues of $493 million
- GAAP net loss per diluted share of $0.28
- Non-GAAP net income per diluted share of $0.42
- Operating cash flow of $13 million
“We made real progress during the third quarter in further repositioning Verifone, building our services business and bringing our new devices to market. Despite this progress, Q3 was a challenging quarter for Verifone on revenues. We moved decisively to reduce our cost structure, and those initial efforts helped us exceed our revised EPS target,” said Paul Galant, Chief Executive Officer of Verifone. “We are managing through what we believe are difficult but temporary local market and lingering EMV adoption issues. Our outlook for Q4 now assumes a significantly slower EMV rollout, and we are projecting fiscal year 2017 consolidated revenues to be approximately 3% below fiscal year 2016 levels. That said, we are relentlessly executing the long-term vision for Verifone to transform from a box shipper to a services provider.”