Telecom-equipment giant, Ericsson (NASDAQ:ERIC) reported on Wednesday that it will shed 2,200 jobs, the newest move by Chief Executive Hans Vestberg to transition the firm from a hardware provider into a worldwide leader in mobile-network software. For most of its 139-year history, Ericsson churned out consumer products, from its first device a table-top phone introduced in 1892 to its once-popular cellphones. Stocks of Ericsson (NASDAQ:ERIC) beginning with a price of $12.76 and reported a gain of 2.13% to the closed at $12.92 with a day range of $12.76-$12.93.
Enterprise Products Partners L.P. (NYSE:EPD) reported that an affiliate of its general partner, which is owned by confidentially held Enterprise Products Company, bought 3,225,057 Enterprise common units for around $100M, or $31.01 a unit. The purchase was executed through Enterprise’s at-the-market equity issuance program. EPCO as well as its affiliates own around 35% of Enterprise’s common units, inclusive of this purchase. Enterprise will use the proceeds from this transaction to fund a portion of its growth capital investments and for general company purposes. Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded at $31.31 by surging 0.48% with price volatility of 2.33% for a week and 2.08% for a month. Its beta stands at 0.67 times.
VMware, Inc. (NYSE:VMW) released that the general availability of the industry’s first unified platform for the hybrid cloud featuring VMware vSphere® 6, VMware Integrated OpenStack, VMware Virtual SAN 6, VMware vSphere Virtual Volumes, VMware vCloud® Suite 6, and VMware vSphere with Operations Management™ 6. VMware’s unified platform enables customers to produce a consistent environment across the private and public cloud and to run, protect and manage modern or traditional applications. VMware, Inc. (NYSE:VMW) reported a gain of 0.51% to the closed at $81.56 with a day range of $80.34-$81.88.