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Lam Research Enters Joint development collaboration with VELO3D
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Lam Research Corporation (NASDAQ:LRCX) is trading at $375.76 near its all-time high of $387.70. The company has entered a joint development agreement with 3D printer specialist VELO3D for the advancement of 3D metal printing for the semiconductor app. The Investment arm of the company, Lam Capital will also invest an undisclosed sum in the 3D printing technology of VELO as it ultimately aims to scale up its additive manufacturing segment in the next five years.
The VO Global operations at Lam Research, Kevin Jennings stated that the agreement aligns well with the mission of the company of seeking net tech that pushes the product design limits and manufacturing.
Norfolk Southern Announces Sudden departure of Its SVP Transportation
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Norfolk Southern Corp. (NYSE:NSC) is also trading near its all-time high of $219.88 as it currently trades at $204.50. The company's SV transportation Michael A Farrell has suddenly left the railroad company. Farrell was reporting to Michael Wheeler the executive VP and COO who is set to retire on October 1, 2020. Cindy Sanborn a long-time CSX railroader will succeed Wheeler as the COO and executive VP.
The company recently sought the public to comment on the plans of replacing the 115-year old Merchant Street Bridge that caries 36 trains every day to the North Shore. Norfolk Southern Railroad showed the deteriorating steel bridge and asked the public to comment on the plans until August 26. Work is expected to commence in the spring of next year and following funding or almost $290 million from the Department of transportation of Pennsylvania
Dollar General Expanding Its DG Fresh Cold Storage Facilities
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Another stock that has surged to near its all-time high of $197.35 is Dollar General Corp. (NYSE:DG) which currently trades at $193.29. Dollar General continues its nationwide expansion of distribution centers and has built a new Fresh Cold storage facility in Sacramento, California. The company is currently finalizing the construction of the 200,000 sq. ft. facility which will complement distribution operations on the west coast. Operations will commence by the fall of this year.
Recently the company opened a $26 million distribution facility in Montgomery. The 450,000 sq. ft. DG Fresh cold storage facility is located on 6080 Mobile Highway and will support 1,200 outlets as the company enhances its distribution of refrigerated and frozen products.
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COMTEX_369224820/2700/2020-08-11T08:26:34
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