Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) ended Friday session in green amid volatile trading. The shares closed up +0.14 points or 1.09% at $13.01 with 7.73 million shares getting traded. Post opening the session at $12.96, the shares hit an intraday low of $12.70 and an intraday high of $13.06 and the price vacillated in this range throughout the day. The company has a market cap of $6.98 billion and the numbers of outstanding shares have been calculated to be 511.20 million shares.
Marvell Technology Group Ltd. (MRVL) on Aug. 18, 2016 announced the appointment of Ms. Jean Hu as Chief Financial Officer (CFO), effective August 22, 2016. Ms. Hu is an accomplished executive with significant expertise in all aspects of finance and a proven track record of returning value to shareholders. At Marvell, she will lead the corporate finance, accounting, financial planning and analysis functions, and serve as a member of the executive team.
“I’m excited to welcome Jean to Marvell. This is a transformational time in the company’s history and Jean is a proven financial executive with deep experience in the semiconductor industry. She will be a significant asset to the team as we return Marvell to profitable growth,” said Matt Murphy, President and CEO, Marvell Technology Group. “I’d also like to thank David Eichler, our interim CFO, for his leadership and continued dedication to Marvell during a period of significant change.”
Ms. Hu joins Marvell from QLogic Corporation, where she was SVP and CFO; she also held the Acting CEO role at QLogic since August 2015. Previously, Ms. Hu held several senior positions at Conexant Systems, Inc. including CFO, Treasurer and SVP of Business Development from 2004 to 2011. Prior to 2004, Ms. Hu held various positions in financial planning, strategy and corporate development at Conexant and its predecessor company, Rockwell International Corporation.
Shares of Automatic Data Processing (NASDAQ:ADP) ended Friday session in red amid volatile trading. The shares closed down -0.24 points or -0.26% at $90.39 with 1.74 million shares getting traded. Post opening the session at $90.88, the shares hit an intraday low of $90.06 and an intraday high of $90.99 and the price vacillated in this range throughout the day. The company has a market cap of $41.50 billion and the numbers of outstanding shares have been calculated to be 456.18 million shares.
On Aug. 02, 2016 The board of directors of Automatic Data Processing, Inc. (ADP), has declared a regular quarterly dividend of 53 cents per share payable October 1, 2016 to shareholders of record on September 9, 2016.