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From a macro perspective, $BLD expects the U.S. housing recovery will continue for the next several years. Although the company expects that it will certainly be advantaged by that, $BLD plans to outperform that recovery with organic growth and strategically selective acquisitions in both the residential and commercial space.
Open source software provider $RHT, which recently announced partnerships with $BABA and SoftBank, saw a surge in its 3Q18 profit, driven by higher subscriptions and higher revenue. Profit surged 49% to $101.3MM or $0.54 per share, up from $68MM or $0.37 a year earlier. Revenue rose 22% to $748MM. On an adjusted basis, $RHT earned $0.73 per share.
$ASB said Breck Hanson, vice chairman of the bank and Chicago market president, will retire from his position on December 31, 2017. Rod A. Murray, senior vice president, Commercial Banking business segment leader, was named as Chicago market president.
$XLNX announced that Alibaba Cloud, the cloud computing arm of $BABA, has chosen $XLNX for next generation FPGA acceleration in their public cloud. Based on Xilinx FPGAs, the new F2 instances give Alibaba Cloud customers access to acceleration for data analytics, genomics, video processing, and machine learning workloads.
$RHT to join forces with $BABA's cloud computing arm, Alibaba Cloud, to bring Red Hat’s open source solutions to Alibaba Cloud’s customers. $BABA will offer Red Hat's products to its customers and host $RHT's customers on its public cloud platform. Customers would now be able to migrate their on-premise $RHT subscriptions to $BABA's public cloud.
$ASB closed the previously announced acquisition of Whitnell & Co. The acquisition is expected to increase both $ASB assets under management and related run-rate revenue by more than 10%. The transaction is not expected to have a material impact on $ASB's 2017 earnings and is expected to be accretive to $ASB's 2018 earnings.
$ASB's subsidiary Associated Bank appointed Patti Abel as its new community market president for Peoria. She is responsible for leading the Peoria team, providing market-leading customer service and partnering with all Associated Bank colleagues to deliver the full capabilities of the company.
$ASB inked a deal to acquire wealth management firm Whitnell & Co. Whitnell will continue to operate as a subsidiary of Associated and retain the Whitnell brand. The transaction would close next month. Whitnell has approx. $1Bil AUM and the deal would increase both Associated AUM and related run-rate revenue by more than 10%.
$ASB has appointed Heather Kaiser as HR Consultant, Associated Benefits and Risk Consulting. Most recently, Kaiser served as Employment and Litigation Attorney at Fafinski Mark & Johnson. Prior to that, she held the post of In-house Counsel at State Auto Insurance.