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Los Angelas, CA -- (SBWIRE) -- 10/15/2012 -- Shares of Sprint Nextel Co (NYSE:S) are trading at $5.73 and is +10.43% from its 50-day Moving Average price of $5.1889 and +54.68% from its 200-day Moving Average price of $3.7044. The average trading volume is 78311000 shares and its market capitalization is $17.192B. SoftBank and Sprint Nextel Corporation (NYSE: S) today announced that they have entered into a series of definitive agreements under which SoftBank will invest $20.1 billion in Sprint, consisting of $12.1 billion to be distributed to Sprint stockholders and $8.0 billion of new capital to strengthen Sprint’s balance sheet. Through this transaction, approximately 55% of current Sprint shares will be exchanged for $7.30 per share in cash, and the remaining shares will convert into shares of a new publicly traded entity, New Sprint. Following closing, SoftBank will own approximately 70% and Sprint equity holders will own approximately 30% of the shares of New Sprint on a fully-diluted basis.
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NXP Semiconductor (NasdaqNM:NXPI) are trading at $21.96 and is -10.64% from its 50-day Moving Average price of $24.5751 and -5.84% from its 200-day Moving Average price of $23.3214. The average trading volume is 1940520 shares and its market capitalization is $5.452B. NXP Semiconductors NV (NASDAQ:NXPI) moved down 2.16% and closed at $22.70. Identive Group Inc and NXP Semiconductors N.V. announced that they are providing innovative near field communication payment tags to Yeldi Softcom Pvt Ltd to support the launch of its ‘ara eTap’ cashless payment application in India. The NFC payment tags are affixed to the back of a mobile phone to enable cashless “tap and pay” transactions. The Company announced its state-of-the-art DC6M DC/DC switching regulator family featuring a very high 6-MHz frequency, an ultra-low output voltage ripple performance of 7 mV, and high efficiency up to 95%. The Company deals in providing High Performance Mixed Signal and Standard Product solutions that leverage its leading RF, Analog, Power Management, Interface, Security and Digital Processing Expertise.
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Shares of STARWOOD PROPERTY (NYSE:STWD) are trading at $22.36 and is -5.19% from its 50-day Moving Average price of $23.584 and +2.72% from its 200-day Moving Average price of $21.768. The average trading volume is 934094 shares and its market capitalization is $2.608B. Starwood Property Trust Inc (NYSE:STWD) declined 0.79% and closed at $22.51. The Company announced the pricing of an underwritten public offering of 16 million shares of its common stock for total estimated gross proceeds of $368 million approximately. The underwriters have a 30-day option to purchase up to an additional 2.4 million shares from the Company. The Company intends to use the net proceeds from the offering to originate and to purchase additional commercial mortgage loans and other target assets and investments.
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Great Lakes Dredg (NasdaqNM:GLDD) are trading at $7.45 and is -1.79% from its 50-day Moving Average price of $7.5854 and +4.45% from its 200-day Moving Average price of $7.1326. The average trading volume is 249434 shares and its market capitalization is $441.2M. Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) declined 0.66% and closed at $7.50. The Market Cap of the stock is 444.15 million and P/E ratio of 24.80.The Company announced receipt of $15.6 million contract for beach re-nourishment for Brigantine Island and Great Egg Harbor Inlet and Peck Beach in New Jersey. This project will provide coastal protection from natural erosion and storm damage along these beaches.
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