LSI Corporation (NYSE:LSI) announced that IBM is now offering advanced performance and data protection features based on LSI MegaRAID(NYSE:R) software on its ServeRAID M5000 6Gb/s controllers. Enabled by the M5000 Series Performance Accelerator Key, the new features optimize application performance, maximize solid-state drive (NYSE:SSD) throughput and enable new levels of data protection and security for System x servers.
LSI Corporation designs, develops, and markets storage and networking semiconductors and storage systems. Its Semiconductor segment offers integrated circuits for hard disk and tape drive solutions, including systems-on-a-chip, read channels, pre-amplifiers, serial physical interfaces, and hard disk controllers, as well as custom firmware; and magnetic and optical disk drives, and disk and tape-based storage systems.
PTS, Inc. (OTC.BB:PTSH) announced that Raj Kalra has been named Chairman and Chief Executive Officer, effective immediately. Mr. Kalra replaces Teresa Rubio who has served as Chairman and Marc Pintar who has served as PTSH Interim Chief Executive Officer. In addition to his role as CEO, Mr. Kalra will serve on PTSH's Board of Directors.
"Raj Kalra brings the right skill set to lead PTSH as we move forward and commence a focus on restructuring, stabilization, growth and profitability," said Marc Pintar, PTSH Interim CEO. "Raj's leadership skills and extensive experience in mergers and acquisitions, as well as business niches such as technology, retail, energy and financial sectors, make him the right CEO to lead PTSH down its new road to success," added Mr. Pintar.
"I'm very pleased to be named the CEO of PTSH," said Raj Kalra. "I am working very hard to bring value to our shareholders. My first order of business is to announce that PTSH, via ThinLine, has been granted a contract to develop and manage the modifications to a certain proprietary cloud computer software solution that ThinLine created based on the client's requirements for an online inventory management system for contracts that they manage for cable operators nationally." Raj Kalra continued, "This system tracks the sales process and contract maintenance between the cable operator and the property owner/investment company. It also tracks revenue sharing that is owed to the property based on right-of-entry agreements or tracking of bulk cable/internet agreements for the units of the property. This is a very meaningful contract for PTSH and shareholders will be advised of any additional developments as they unfold."
KeyCorp (NYSE:KEY) announced that its Board of Directors approved the following dividends for the fourth quarter 2010. A regular cash dividend of $0.01 per share on its common shares, or $0.04 per share on an annualized basis. The dividend is payable December 15, 2010 to shareholders of record on November 30, 2010. A cash dividend of $1.9375 per share on its Non-Cumulative Perpetual Convertible Preferred Stock, Series A. The dividend is payable December 15, 2010 to shareholders of record on November 30, 2010.
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $95 billion. Key companies provide investment management, retail and commercial banking, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.
MusclePharm Corporation (OTCBB:MSLP) one of the fastest growing nutritional supplement companies in the United States, is pleased to announced a multi-year partnership with the World Bodybuilding and Fitness Federation (WBFF) that will place the company as the title sponsor of the World Famous WBFF through 2014.
The partnership begins in 2011 and MusclePharm will work closely with the WBFF and its President and CEO, Paul Dillett, who is widely considered one of the greatest bodybuilders in the sport’s history. Dillett, recognized as Canada’s greatest bodybuilder, won numerous bodybuilding titles throughout his illustrious career, and is often regarded as having one of the sport’s most recognizable physiques.
Paul Dillet, President and CEO of WBFF, said, “We believe this partnership will greatly increase the reach of both brands and continue to fuel the record growth both companies have enjoyed over the past few years.”
In four short years, the WBFF has grown to become a popular destination for aspiring professional bodybuilders and fitness competitors. In 2010 alone, participants from more than 25 different countries competed in the WBFF World Championships, which featured many of the world’s top fitness athletes.
MusclePharm’s President, Cory Gregory, commented, “We are very excited to partner with the WBFF. We believe this relationship will expand our brand by introducing our nutritional supplements, which are 100% free of any banned substances, to a new market.”
“With the recently announced fulfillment agreement, our enhanced operating platform will enable us to improve margins and enable management to focus on partnering opportunities such as WBFF. We believe we are well positioned to achieve very strong growth in 2011 and look forward to leveraging our brand and superior product offerings into new channels and improving our operating margins.”
Radian Group Inc. (NYSE:RDN) announced that it has completed an underwritten public offering of $450 million principal amount of Convertible Senior Notes due 2017. Prior to August 15, 2017, the notes will be convertible only upon specified events and during specified periods and, thereafter, at any time. The notes will initially be convertible at a conversion rate of 85.5688 shares of the Company’s common stock per $1,000 principal amount of notes, corresponding to an initial conversion price of approximately $11.69, or 32.5% above the last reported sale price of $8.82 per share of the Company’s common stock on the New York Stock Exchange on November 8, 2010.
Radian Group Inc., through its subsidiaries, provides credit-related insurance coverage and financial services in the United States and internationally. The company operates in three segments: Mortgage Insurance, Financial Guaranty, and Financial Services. The Mortgage Insurance segment offers credit protection for mortgage lenders and other financial services companies on residential mortgage assets.
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