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Stock Market & Financial Investment News

News Breaks
November 27, 2012
15:19 EDTOTIVOn Track holder Ivy proposed the removal of three existing directors
On November 20, counsel for Mr. Ivy submitted to the Board of Directors of On Track Innovations a Notice of Meeting, Proxy Statement and Proxy Card for an Extraordinary General Meeting of the Shareholders to be held on December 27. The November Proxy Materials proposed to remove three existing directors and to elect eight (8) new directors nominated by Mr. Ivy. These proposals were virtually the same as the proposals submitted to On Track on October 19. Counsel requested that the Issuer file and mail the documents to the Issuer’s shareholders. In response, On Track's legal counsel indicated that, if Mr. Ivy would withdraw his request, the Board would agree to call the requested shareholder meeting to consider removal of the three existing directors and the election of Mr. Ivy’s nominees. Counsel for On Track and counsel for Mr. Ivy exchanged drafts of the form of proxy materials for a shareholder meeting to be scheduled for late December. On Nov. 21st, Mr. David P. Stone and Mr. Mark Green resigned from the Issuer’s board of directors.
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September 10, 2014
10:19 EDTOTIVOn Track, USA Technologies rise after Apple Pay seen as positive
Shares of On Track Innovations (OTIV) and USA Technologies (USAT) are moving higher after research firm Northland Capital predicted that both companies would benefit from the launch of Apple's (AAPL) mobile payment system which is based on NFC technology. On Track Innovations sells contactless/NFC readers, while USA Technologies provides products that facilitate electronic payment transactions. WHAT'S NEW: In a note to investors today, Northland Capital analyst Michael Latimore wrote that his discussions with vending operators indicate that Apple Pay will likely provide a major impetus to upgrade payment terminals, benefiting On Track Innovations and USA Technologies. On Track Innovations has gained share in the contactless/NFC reader market and now sells these readers to most of the vending operators in the U.S., Latimore stated. Accelerated adoption of contactless/NFC technology will help increase the number of contactless/NFC readers that are sold, the analyst believes. Meanwhile, US Technologies' cloud services revenue could accelerate as more vending operators deploy NFC readers, Latimore added. The analyst kept Outperform ratings on both stocks. PRICE ACTION: In early trading, On Track Innovations soared 42% to $4.70, while USA Technologies advanced 7% to $2.20. VeriFone (PAY), which sells point of sale electronic payment devices, gained 4% to $36.
09:26 EDTOTIVOn Track and USA Technologies to benefit from Apple Pay, says Northland
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September 9, 2014
13:50 EDTOTIVNXP Semiconductors turns positive after Apple confirms NFC in new iPhone
Shares of On Track Innovations (OTIV) are still negative but moving higher.
13:47 EDTOTIVNXP Semiconductors off lows as Apple unveils 'Apple Pay' service
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