Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) ended Thursday session in green amid volatile trading. The shares closed up +0.07 points or 0.13% at $54.10 with 6.54 million shares getting traded. Post opening the session at $53.26, the shares hit an intraday low of $52.91 and an intraday high of $54.41 and the price vacillated in this range throughout the day. The company has a market cap of $32.02 billion and the numbers of outstanding shares have been calculated to be 606.94 million shares.
On Sep 8, 2016 Cognizant Technology Solutions Corp (CTSH), a leading provider of information technology, consulting, and business process services, has joined the Executive Committee of the Chamber of Digital Commerce. The Chamber is the world’s leading trade association representing the blockchain industry and works closely with policymakers, regulators and industry to develop a pro-growth legal environment that fosters innovation, jobs and investment.
Cognizant is engaged in an array of initiatives to test the potential of blockchain; including the creation of accelerators that design, prototype and test solutions for digital asset issuance and transfer, secure document exchange, digital identity, and many others. Earlier this year, Cognizant announced its work with Mizuho Financial Group to develop a blockchain solution for secure record keeping of documents across the Group’s global companies.
“Blockchain technology is poised to change the face of the banking and financial services industry, providing the opportunity to create new digital business models, streamline business processes, and modernize existing IT systems,” said Prasad Chintamaneni, President, Global Industries and Consulting at Cognizant. “Cognizant was one of the early movers in the blockchain space and we continue to significantly invest in our capabilities to develop enterprise-ready solutions to help clients navigate this shift and become digital enterprises. We’re excited to be working with the Chamber of Digital Commerce to further the adoption and progression of blockchain technology and accelerate its implementation across industries.”
“Cognizant is yet another example of an established industry leader realizing the transformative potential of blockchain technology, and the importance of collaboration,” said Perianne Boring, Founder and President of the Chamber. “For blockchain to reach its maximum potential, leaders across every industry will need to contribute to the policy efforts to help shape the future of this new and transformative technology.”
Shares of STMicroelectronics NV (ADR) (NYSE:STM) ended Thursday session in green amid volatile trading. The shares closed up +0.21 points or 2.75% at $7.84 with 6.45 million shares getting traded. Post opening the session at $7.64, the shares hit an intraday low of $7.64 and an intraday high of $8.01 and the price vacillated in this range throughout the day. The company has a market cap of $7.19 billion and the numbers of outstanding shares have been calculated to be 883.27 million shares.
STMicroelectronics NV (ADR) (STM) on July 29, 2016 announced that it has acquired ams’ (SIX:AMS) assets related to NFC and RFID reader business. ST has acquired intellectual property, technologies, products and business highly complementary to its secure microcontroller solutions serving mobile devices, wearables, banking, identification, industrial, automotive and IoT markets. Approximately 50 technical experts from ams have been transferred to ST.
The acquired assets, combined with ST’s secure microcontrollers, position ST for a significant growth opportunity, with a complete portfolio of best-in-class technologies, products and competencies that comprehensively address the full range of the NFC and RFID markets for a wide customer base.
“Security and NFC connectivity are key prerequisites for the broad rollout of mobile and IoT devices anticipated in the coming years. This acquisition builds on our deep expertise in secure microcontrollers and gives ST all of the building blocks to create the next generation of highly-integrated secure NFC solutions for mobile and for a broad range of Internet of Things devices,” said Claude Dardanne, Executive Vice President and General Manager of STMicroelectronics’ Microcontroller and Digital ICs Group. “We welcome this highly competent team from ams into ST for the benefit of our customers.”