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Trending Stocks: Lockheed Martin (NYSE:LMT); TW Telecom (NASDAQ:TWTC); Webster Financial Corporation (NYSE:WBS)

Posted in Business, Financial, Technology7 months ago • Written by Carla NightNo Comments

Dallas, Texas, 09/24/2014 (ustrademedia) – Defence equipment and software systems provider Lockheed Martin (NYSE:LMT) announced yesterday that its state of the art Havoc 8×8 Armored Modular Vehicle has successfully proved its capabilities at the Nevada Automotive Test Center. As part of its efforts to demonstrate the capabilities, the armoured vehicle was put through its paces on the challenging Butte Mountain Trail course. The Butte Mountain trail has the distinction of being one of the most demanding off-road test tracks globally. Through the successful test completion, Lockheed Martin (NYSE:LMT) hopes to become a serious participant in the ambitious “U.S. Marine Corps’ Amphibious Combat Vehicle (ACV) Phase I program.”

Ethernet and networking solutions provider TW Telecom (NASDAQ:TWTC) announced yesterday that it is working towards expanding its network infrastructure and product suite offerings in the new geographies of Western Connecticut and New York Hudson Valley. The areas which would be covered post the role out of new data center servicers are the enterprises located in Westchester and Fairfield. In the same press briefing, the company noted that it has appointed Carl Bonitz as Vice president and general manager. He has been tasked with overall responsibility of managing and growing the Westchester market.

Webster Bank, N.A. holding company, Webster Financial Corporation (NYSE:WBS) announced yesterday that it has signed a binding agreement to buy out a business unit of JPMorgan Chase & Co. (NYSE:JPM). The smaller bank is buying out nearly 700,000 “health savings accounts” owned by JPMorgan Chase Bank, N.A, which is a 100 percent owned subsidiary of JPMorgan Chase & Co. (NYSE:JPM). The bought out accounts add up to nearly $1.3 billion in deposits and an impressive $175 million in investments. The bought out assets would be merged with HSA Bank, which is a division of Webster Bank. Webster Financial Corporation (NYSE:WBS) would be using nearly 60 percent of the deposits held by the bought out accounts to reduce short term debt.

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