Shares of Verizon Communications Inc. (NYSE:VZ) ended Friday session in green amid volatile trading. The shares closed up +0.31 points or 0.59% at $52.88 with 13.28 million shares getting traded. Post opening the session at $52.80, the shares hit an intraday low of $52.52 and an intraday high of $53.14 and the price vacillated in this range throughout the day. The company has a market cap of $217.82 billion and the numbers of outstanding shares have been calculated to be 4.08 billion shares.
Verizon Communications Inc. (VZ) on Sept. 1, 2016 announced that Francis J. (Fran) Shammo plans to retire at the end of 2016 after 27 years with the company. Prior to his retirement, he will step down as executive vice president and chief financial officer, effective Nov. 1.
Verizon’s Board of Directors appointed Matthew D. (Matt) Ellis to succeed Shammo as executive vice president and CFO. Ellis is currently senior vice president and CFO – Operations Finance, responsible for providing financial support to Verizon’s wireless and wireline business units.
Verizon Chairman and CEO Lowell McAdam said, “I’ve worked closely with Fran for many years and have been continually impressed by his success at balancing the needs of customers, shareholders and employees. He has been a tremendous leader, and a voice of sound advice and counsel to me and the rest of Verizon’s leadership team. While Fran will be greatly missed, I respect his decision to retire, and I am pleased that he will stay through year-end to ensure a smooth transition.”
McAdam added, “I’m also pleased that we have such great bench strength at Verizon that our Board could appoint an executive as accomplished as Matt Ellis to succeed Fran. Within months of joining Verizon as treasurer in 2013, Matt led the team that raised a record $49 billion in one day to help finance Verizon’s acquisition of Vodafone’s interest in Verizon Wireless.”
Shares of Microsoft Corporation (NASDAQ:MSFT) ended Friday session in green amid volatile trading. The shares closed up +0.08 points or 0.14% at $57.67 with 18.90 million shares getting traded. Post opening the session at $57.67, the shares hit an intraday low of $57.42 and an intraday high of $58.19 and the price vacillated in this range throughout the day. The company has a market cap of $451.04 billion and the numbers of outstanding shares have been calculated to be 7.79 billion shares.
On Aug. 23, 2016 Microsoft Corp. and Lenovo announced on Friday a deepening of their strategic relationship. Lenovo will load Microsoft’s productivity apps – including Microsoft Office, OneDrive and Skype – on select Lenovo devices that use the Android™ operating system. Lenovo expects to ship millions of these Android-based devices worldwide over the next several years. This expanded collaboration between Microsoft and Lenovo also includes a patent cross-licensing agreement that covers Lenovo and Motorola devices.
“Microsoft’s thrilled that our productivity apps will be pre-installed on Lenovo’s premium devices,” said Nick Parker, corporate vice president OEM Division, Microsoft. “The marriage of Microsoft’s apps and Lenovo’s Android-based devices will enable customers around the world to be more productive, more connected and achieve even more.”
“Our collaboration with Microsoft will create new opportunities for our customers to take advantage of some of Microsoft’s most popular apps,” said Christian Eigen, Leader of Corporate Alliances, Lenovo. “Installing Microsoft apps and services on our devices will bring additional value to consumers around the globe.”