Royal Philips Electronics (NYSE:PHG, AEX:PHI) (“Philips”) today announced the satisfaction of all of the conditions to the closing of the tender offer by its wholly owned subsidiary, Golf Merger Sub, Inc. (“Philips Merger Sub”), to acquire all outstanding shares of common stock of The Genlyte Group Incorporated (NASDAQ:GLYT) (“Genlyte”) for $95.50 per Genlyte share, without [...]

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Evidence of a weaker economy pushed mortgage rates to the lowest point since July 2005, with the average conforming 30-year fixed mortgage rate now 5.75 percent. The average 30-year fixed mortgage has an average of 0.36 discount and origination points.

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Virgin Mobile USA, Inc. (NYSE:VM) today announced that Bob Stohrer, currently Vice President of Brand & Integrated Marketing, has been tapped as the company’s new Chief Marketing Officer. Stohrer will take on this role as Howard Handler, who has served as CMO since Virgin Mobile’s launch, leaves the company.

Tags: Marketing, Virgin Mobile

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Microsoft Corp. and EDGAR Online Inc. today announced a strategic alliance in which the two companies will collaborate to bring relevant advertising to the EDGAR Online audience and content to the MSN portal. EDGAR Online is a premier source of financial information and corporate intelligence and is a leading provider of Extensible Markup Language (XML)- [...]

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The U.S. subprime mortgage crisis has forced banks to enter 2008 in a reactive mode. New research from TowerGroup examining the top retail banking trends for 2008 finds that bankers are anxious on two fronts. First, they worry about unseen threats that may not yet have surfaced in their credit portfolios. Second, they fret [...]

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NeoMagic Corporation (NASDAQ:NMGC) , a leader and pioneer in developing and delivering low-power solutions for multimedia-rich mobile phones and handheld devices, announced today that it has signed an agreement to sell selected patents and patent applications to Faust Communications Holdings, LLC for $12.5 million, providing net proceeds of $9.5 million after agency commissions. The patents [...]

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SAP America, Inc. and SAP Canada, Inc., subsidiaries of SAP AG (NYSE:SAP) , named the winners of its 2007 Small and Midsize Enterprise (SME) Business Partner Awards, recognizing the top-performing partners in the United States and Canada within the SAP(R) PartnerEdge(TM) program, an innovative global framework that recognizes and rewards partners for their commitment and [...]

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Oracle Corporation (NASDAQ:ORCL) and BEA Systems (NASDAQ:BEAS) announced today they have entered into a definitive agreement under which Oracle will acquire all outstanding shares of BEA for $19.375 per share in cash. The offer is valued at approximately $8.5 billion, or $7.2 billion net of BEA’s cash on hand of $1.3 billion. “We expect this [...]

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JCB Construction Equipment, the world’s largest privately owned construction business, announced they are developing a 60 MPH, state-of-the-art JCB High Mobility Engineer Excavator (HMEE), purpose- built for the U.S. Army and destined for deployment to Iraq and Afghanistan, where it will provide battlefield commanders with a myriad of logistics capabilities in front patrols. The HMEE [...]

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Franklin Electric Co., Inc. (NASDAQ:FELE) , the world’s largest manufacturer of submersible electric motors and a leading supplier of water pumping and fuel pumping systems, announced today that it has completed the acquisition of all of the outstanding shares of Industrias Schneider S.A. for cash. Franklin Electric expects the transaction to be accretive to its [...]

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