Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) [Trend Analysis] knocking active thrust in leading trading session, shares a loss of -1.08% to 6.42 with around 2.34 Million shares have changed hands in this session. Ericsson (ERIC) reported that it has secured a minority investment in its iconectiv business from Francisco Partners, a technology investment firm. Francisco Partners will invest $200 million to acquire a 16.7% ownership at an implied valuation of approximately $1.20 billion.
The $200 million will be transferred to Ericsson as a dividend, which Ericsson expects to receive in third quarter 2017. The transaction has no material impact on Ericsson group income. Headquartered in the United States, iconectiv develops solutions that enable operators to interconnect networks. Theiconectiv also provides numbering solutions and most recently was designated by the U.S. Federal Communications Commission to serve as the Local Number Portability Administrator in the U.S. iconectiv is built on assets from Telcordia, a company Ericsson acquired in 2012. The stock is going forward its fifty-two week low with 32.92% and lagging behind from its 52-week high price with -34.89%.
Similar, the positive performance for the quarter recorded as 24.42% and for the year was -28.39%, while the YTD performance remained at 10.12%. ERIC has Average True Range for 14 days of 0.13.
Marriott International, Inc. (NASDAQ:MAR) [Trend Analysis] retains strong position in active trade, as shares scoring -0.66% to $86.15 in active trade session, while looking at the shares volume, around 1.91 Million shares have changed hands in this session. JW Marriott Hotels & Resorts, part of Marriott International, Inc. (MAR), recently reported the opening of JW Marriott PhuQuoc, Emerald Bay. Located on Vietnam’s largest island of PhuQuoc, a hidden paradise off the southern coast of Vietnam, and designed by award-winning interior designer Bill Bensley, the hotel offers 244 guestrooms, suites and villas for an idyllic island retreat. JW Marriott PhuQuoc, Emerald Bay is the second hotel for the brand in Vietnam, and joins a portfolio of more than 80 JW Marriott hotels across 25 countries.
“The opening of JW Marriott PhuQuoc, Emerald Bay celebrates the arrival of the first international luxury hotel to this picturesque island paradise,” said Mitzi Gaskins, Global Brand Leader, JW Marriott &The Luxury Collection. “This stunning destination offers guests a variety of experiences, from white-sandy beaches to dense tropical jungle, and now with the addition of the JW Marriott brand, travelers will really have it all.”JW Marriott PhuQuoc, Emerald Bay offers five distinct restaurants and bars, ensuring guests have a wealth of world-class dining options.
Tempus Fugit (which translates to ‘time flies’) offers authentic Vietnamese cuisine, contemporary Japanese fare and classic French delights; French & Co is sure to satisfy any sweet tooth with its signature pastries and desserts; Red Rum features fresh, local seafood dishes served beachside; Pink Pearl is slated to open this spring and will serve Cantonese cuisine in a beachfront setting; and Department of Chemistry, offers local elixirs with views of beautiful Emerald Bay. The firm has institutional ownership of 67.20%, while insider ownership included 3.80%. MAR attains analyst recommendation of 2.40 with week’s performance of -0.97%. Investors looking further ahead will note that the Price to next year’s EPS is 15.59%.