Shares of Nokia Corp (ADR) (NYSE:NOK) ended Wednesday session in green amid volatile trading. The shares closed up +0.13 points or 2.26% at $5.87. Post opening the session at $5.79, the shares hit an intraday low of $5.79 and an intraday high of $5.89 and the price vacillated in this range throughout the day. The company has a market cap of $33.84 billion and the numbers of outstanding shares have been calculated to be 5.77 billion shares.
On September 2, 2016 Nokia and Jiangsu Telecom, a regional branch of China Telecom, are deploying China’s first commercial Carrier WAN-SDN project in data centers in Yangzhou, Changzhou and other cities in Jiangsu, a neighboring province of Shanghai. The deployment will help Jiangsu Telecom achieve seamless, transparent and flexible management of Internet Data Centers (IDC) in a unified manner.
The popularity of cloud technologies has revealed the limitations of previous IDC router technology, showing that it fails to support a seamless connection with the WAN and meet ever-growing data demand. Older technology also keeps IDC management and maintenance efficiency at a low level, hindering the development of Internet services.
Jiangsu is deploying Nokia’s Networks Services Platform (NSP) to program its powerful core network router, the next-generation 7950 XRS (Extensible Routing System). The XRS provides the large capacity along with programmability to build the core that connects the datacenters. The NSP is then able to program the core to optimize the use of the resources by load-balancing the traffic and adjusting to changing traffic demands. As a result, Jiangsu Telecom will dramatically increase the flexibility of its network, reduce overhead costs, meet the ever-growing data demands of its subscriber base and support various application scenarios such as accessing and connecting IDCs. Jiangsu will also be able to pave the way for the future development of applications including High Definition video, IoT and smart homes.
Shares of Frontier Communications Corp (NASDAQ:FTR) ended Wednesday session in green amid volatile trading. The shares closed up +0.05 points or 1.07% at $4.73. Post opening session at $4.70, the shares hit an intraday low of $4.68 and an intraday high of $4.78 and the price vacillated in this range throughout the day. The company has a market cap of $5.69 billion and the numbers of outstanding shares have been calculated to be 1.17 billion shares.
Frontier Communications Corp (FTR) on September 1, 2016 hired Dale Shover as Vice President-Business Operations/Finance for the South Region, covering Texas, New Mexico, Arizona and Nevada.
Shover will have responsibility for the region’s financial planning and analysis, performance assurance and facilities management. As such, he will oversee the financial operations, including accurate tracking and reporting of revenue, expense and capital expenditures.
In addition, he will be responsible for the preparation, analysis and reporting of monthly, quarterly and annual budget/forecasting process. Shover will not only monitor and track the financial health and performance of the region, but will also partner with our organizational leaders to drive critical business initiatives and strategic solutions to support Frontier priorities.
“Dale is a financial leader with the ability to go beyond the numbers,” said Rhonda Lutzke, Frontier Communications South Region president. “He has a record of applying financial analysis in solving business problems and integrating financial discipline into operational decision-making. I look forward to working with him to achieve our 2016 goals.”
Shover began his professional career with PwC as a management consultant serving clients in the oil & gas industry. He joins Frontier from retail electricity provider TXU Energy, where he managed finance, strategy and merger and acquisition matters related to TXU’s commercial business. He earned his MBA from the McCombs School of Business at the University of Texas at Austin, and earned a Bachelor’s Degree in Economics and Finance from Trinity University in San Antonio, Texas.
“I was really attracted to Frontier for its people and their focused attention on serving and adding value to our customers,” said Shover. “I’m looking forward to joining the Frontier team and embracing its customer-first culture. I’ve been very impressed with all of the teams I’ve met and I’m excited to join them as I take this next step in my career.”