Active Market Movers This Week - Company Announces Strong Jump in Sales as Back Orders Build
CORAL SPRINGS, Florida, February 12, 2014 /PRNewswire/ --
Market leaders make push to ramp up production to meet increasing demand: mPhase Technologies, Inc. (OTC: XDSL), Trimble Navigation Limited (NASDAQ: TRMB), Meritor, Inc. (NYSE: MTOR), eBay Inc. (NASDAQ: EBAY) and TriQuint Semiconductor, Inc. (NASDAQ: TQNT)
mPower Technologies Inc. (http://mpowertech.com/), the consumer products division of mPhase Technologies, Inc. (OTC: XDSL), today announced that it has sold and delivered 2,400 units of the mPower Jump it. Back orders continue to build as production ramps up to meet demand. Pre-orders were accepted and delivery of product began on December 5, 2013. Initial orders for the mPower Jump It include a major automotive parts distributor as well as individual consumers. Consumers continue to purchase on the company's website at http://www.jumpitnow.com. mPower Technologies believes that demand for the product will increase as it sets up additional channel partners with major distributors in the United States. Partnerships continue in both the automotive and marine markets. The Company is also exploring portions of the European market with a well-established source with distribution contacts for both automotive and marine applications.
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Trimble Navigation Limited (NASDAQ: TRMB) designs and distributes positioning products and applications enabled by global positioning system (GPS), optical, laser, and wireless communications technology. The company's Mobile Solutions segment offers vehicle solutions, such as GPS receivers, business logic, sensor interfaces, and wireless modems; mobile worker solutions to automate service technician work in the field; and scheduling and dispatch solution, an enterprise software program to optimize scheduling and routing of field service technicians. Its Advanced Devices segment supplies global navigation satellite system modules (GNSS), licensing and complementary technologies, and GNSS-integrated sub-system solutions; GPS receivers and embedded modules for aircraft navigation and timing applications; information for outdoor recreational activities; precision products; and ultra high frequency radio frequency identification (RFID) reader modules, and finished/fixed-position RFID readers and design services. On Tuesday, TRMB closed up 1.87& on over 2.2 million shares traded.
Meritor, Inc. (NYSE: MTOR) recently announced the pricing of its senior unsecured notes in an aggregate principal amount of $225 million in an underwritten registered public offering (the "notes"). The $225 million of notes will mature on Feb. 15, 2024 and will bear interest at an annual rate of 6-1/4%. The offering is expected to close on Feb. 13, 2014, subject to customary closing conditions. Meritor intends to use the net proceeds from the offering to fund a portion of the redemption of the $250 million aggregate principal amount outstanding of its 10-5/8% notes due 2018. J.P. Morgan, BofA Merrill Lynch, Citigroup, RBC Capital Markets and RBS are acting as joint book-running managers for the offering.
eBay Inc. (NASDAQ: EBAY) provides online platforms, tools, and services to help individuals and merchants in online and mobile commerce and payments in the United States and internationally. Its Marketplaces segment operates ecommerce platform eBay.com; vertical shopping sites, such as StubHub, Fashion, Motors, and Half.com; and classifieds Websites, including Den Blå Avis, BilBasen, Gumtree, Kijiji, LoQUo, Marktplaats.nl, mobile.de, Alamaula, eBay Anuncios, eBay Kleinanzeigen, and eBay Annunci, as well as provides advertising services. This segment also provides RedLaser to facilitate mobile commerce; Milo to enable search for goods at local retailers; WHI to offer an ecatalog of motor parts and accessories; and Hunch to improve search and merchandising based on customers' needs and tastes. On Tuesday, EBAY closed up .99 percent on over 11.6 million shares traded.
TriQuint Semiconductor, Inc. (NASDAQ: TQNT) a leading RF solutions supplier and technology innovator, recently announced several new premium filters for next-generation smartphones and other mobile devices. The high-performance filters utilize the company's advanced acoustic wave filtering technologies to address some of the industry's toughest LTE interference problems. The number of cellular and Wi-Fi bands packed inside compact high-end smartphones is skyrocketing to support 2G/3G/4G voice and data services, as well as global roaming. Advanced filter technology is required to mitigate the resulting interference issues. A global spectrum crunch adds to the growing interference problems as governments around the world squeeze new 4G bands with higher performance requirements next to existing bands, often with minimal band guards.
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