WPCS International Incorporated (NASDAQ:WPCS), which specializes in contracting services for communications infrastructure and the development of a Bitcoin trading platform, announced that it has entered into an asset purchase agreement with EC Company (“EC”) for approximately $2.7 million. The agreement proposes that EC, an Oregon-based electrical contracting company, purchase substantially all of the assets and assume certain liabilities of WPCS International- Seattle, Inc. (the “Seattle Operations”), in an all-cash transaction, at a target sales price of approximately $2.7 million, subject to adjustment based on the closing date balance sheet of the Seattle Operations. The closing is anticipated for May 31, 2014 and is subject to certain conditions to be fulfilled prior to closing, including WPCS shareholder and NASDAQ approval. WPCS International Incorporated (NASDAQ:WPCS) shares after opening at $1.04 moved to $1.10 on last trade day and at the end of the day closed at $1.05 . Company price to sales ratio in past twelve months was calculated as 0.43 and price to cash ratio as 9.76. WPCS International Incorporated (NASDAQ:WPCS) showed a negative weekly performance of -11.76%.
Sky-mobi Limited (ADR) (NASDAQ:MOBI), a leading mobile application store in China, announced unaudited financial results for the fiscal third quarter ended December 31, 2013 (“third quarter 2014”). Sky-mobi Ltd (ADR) (NASDAQ:MOBI) shares fell -1.82% in last trading session and ended the day on $6.48. MOBI return on equity ratio is recorded as 5.10% and its return on assets is 4.00%. Sky-mobi Ltd (ADR) (NASDAQ:MOBI) yearly performance is 258.01%.
Telecom Italia SpA (ADR) (NYSE:TI) and Genoa City Council have reached an agreement to launch a project dubbed “Smart Digital School” at Genoa’s Grazia Deledda secondary school. The initiative aims to combine traditional teaching material with multimedia content and new technology such as interactive whiteboards and PCs. The collaborative digital teaching experiment is based on Telecom Italia’s broadband network and ‘Nuvola Italiana’ cloud-based technology platform. Telecom Italia SpA (ADR) (NYSE:TI) shares moved up 0.94% in last trading session and was closed at $12.93 while trading in range of $12.76 – $12.94 – Telecom Italia SpA (ADR) (NYSE:TI) year to date (YTD) performance is 29.82%.
Fiber-optic network services provider Lumos Networks Corp. (NASDAQ:LMOS) says it has chosen Cisco Systems, Inc. (NASDAQ:CSCO) to supply equipment for the as its exclusive systems supplier for Project Ark, Lumos’s fiber to the cell site (FTTC) network project. Lumos Networks Corp (NASDAQ:LMOS) weekly performance is 8.62%. On last trading day company shares ended up $13.73. Lumos Networks Corp (NASDAQ:LMOS) distance from 50-day simple moving average (SMA50) is 0.03%. Analysts mean target price for the company is $20.13.
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