Shares of Nokia Corp (ADR) (NYSE:NOK) ended Wednesday session in red amid volatile trading. The shares closed down -0.07 points or -1.21% at $5.71 with 13.05 million shares getting traded. Post opening the session at $5.77, the shares hit an intraday low of $5.69 and an intraday high of $5.77 and the price vacillated in this range throughout the day. The company has a market cap of $33.83 billion and the numbers of outstanding shares have been calculated to be 5.77 billion shares.
Nokia has acquired Eta Devices, a US-based start-up specializing in power amplifier efficiency solutions for base stations, access points and devices. Eta Devices will bolster Nokia’s push to enhance base station energy efficiency, an increasingly important area for operators on the path to 4.9G and 5G.
The demand for data from consumers and businesses is surging, as is the number of connected devices and things, with operators increasingly needing power that is delivered both cost-effectively and sustainably. Eta Devices’ unique ETAdvanced power management technology can reduce heat waste drastically through the use of a new amplifier that works like an automated gearbox, adjusting energy usage by constantly providing just the right amount of power required for a radio signal. This translates to savings for operators that can be invested as 4.9G and 5G approach. Eta Devices’ technology reduces the need for backup power, translating into smaller base station cabinets and reduced equipment breakdown rates, and supporting Nokia’s target to continuously strengthen the base station power efficiency of its products.
The acquisition of Eta Devices underlines Nokia’s commitment to invent, design, and deploy sustainable technologies that make a real difference to people’s lives, and take responsibility for the impact we make in the world. Nokia already offers a Zero Emission base station solution that reduces site energy consumption and CO2 emissions by up to 70 percent.
Eta Devices is a private start-up company founded in 2010. The company is headquartered in Cambridge, MA with an R&D office in Stockholm, Sweden, and it employs approximately 20 people. The acquisition includes fixed assets, employees, intellectual property rights as well as lease and supplier agreements.
Shares of Frontier Communications Corp (NASDAQ:FTR) ended Wednesday session in red amid volatile trading. The shares closed down -0.07 points or -1.71% at $4.03 with 33.54 million shares getting traded. Post opening the session at $4.07, the shares hit an intraday low of $4.01 and an intraday high of $4.10 and the price vacillated in this range throughout the day. The company has a market cap of $4.68 billion and the numbers of outstanding shares have been calculated to be 1.17 billion shares.
Frontier Communications Corp (FTR) plans to release third-quarter 2016 results on Tuesday, November 1, 2016 after the market closes, and to host a conference call that afternoon at 4:30 P.M. Eastern Time. The conference call will be webcast and may be accessed in the Webcasts & Presentations section of Frontier’s Investor Relations website at www.frontier.com/ir.
A telephonic replay of the conference call will be available from 8:00 P.M. Eastern Time on November 1, 2016, through 8 P.M. on November 6, 2016 at 888-203-1112 for callers dialing from the U.S. or Canada, or at 719-457-0820 for those dialing from outside the U.S. or Canada. Use the passcode 7158179 to access the replay. A webcast replay of the call will be available at www.frontier.com/ir.