The Whispers Blog
Arkansas' breaking business news blog, with news and commentary from the Arkansas Business staff.
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Multichannel News yesterday afternoon reported that Acxiom Corp. of Little Rock has purchased the advanced-advertising unit of Allant Group of Naperville, Illinois, a TV software and analytics company. The division has clients including Comcast, Dish Network and Charter Communications.
Acxiom senior director of communications, global marketing Ines Gutzmer confirmed by email that "the information is correct" that Acxiom had made the Allant purchase. "We are currently in the process of consolidating capabilities," she emailed. "We will be able to talk about this in greater detail at the beginning of the year."
The publicly traded (Nasdaq: ACXM) enterprise data and software-as-a-service company has not issued a news release or made a filing with the U.S. Securities and Commission about the purchase.
SeekingAlpha, meanwhile, points out that Allant has been shedding employees throughout the year, having peaked at 200 in 2014. Acxiom would take on about 30 to 40 Allant employees as part of the deal.
Last month, Acxiom reported second-quarter net income of $10.7 million, or 14 cents per share, a big swing from a loss of $1.5 million, or 2 cents per share, in the same quarter last year. The company also reported revenue of $207 million, up 1.5 percent from the same quarter last year.
Bloomberg Business is reporting that Verizon Communications has informed employees that the company is reorganizing its wireless operations by reducing the number of regional offices and that it will cut an unspecified number of jobs.
Verizon's South Central regional headquarters is in Little Rock. Local Verizon spokesperson Ginger Daril referred questions to Verizon's corporate office.
Jeffrey Nelson, vice president of Verizon's Global Corporate Communications, told Arkansas Business late Thursday afternoon that he couldn't provide any specifics but said, "We are constantly working to evolve our operations to best support our customers' changing needs."
The Bloomberg report said the company will reduce its 20 regional offices to six, and sales and retail store employees won't be affected by the layoffs.
More from Bloomberg:
Verizon, which had a workforce of 177,900 as of the end of the third quarter, is seeking to cut costs as U.S. households give up their traditional home phones in favor of mobile technology.
The company gets about 29 percent of its revenue from landlines, and is investing in wireless and Internet-delivered content. Last month Verizon introduced go90, a free mobile video service with shows aimed at teens. In 2000, landline operations accounted for 67 percent of revenue.
Verizon's South Central regional headquarters was created after the company purchased Alltel in 2008.
Wal-Mart CEO Doug McMillon, in New York today for a meeting with analysts, talks to CNBC's "Squawk Box" about the retailer's strategy.
"We're making progress and our associates are buying in," McMillon said. "We've got a stores business that needs investment, and the investments that we've made in people and training and in-stock and faster checkout are starting to pay off."
Below, two clips from this morning's appearance.
In the first, McMillon talks about how the retailer is adjusting to the rapidly changing retail business, and the second, he gives a quick take on the state of the U.S. economy and China.
Also: a quick comment about the retailer's decision to stop selling certain firearms at its stores.
McMillon on Making Changes
McMillon on the State of the U.S. Economy
Gov. Asa Hutchinson talked to reporters via telephone from Havana today as his economic development trip continues. The governor, who arrived in Cuba on Sunday, is scheduled to leave the country at about 6 p.m. Wednesday.
Here's some quick notes from his teleconference Tuesday morning:
The governor said there's no doubt that Arkansas will be "a trading partner of significance" with Cuba, but that he sees a "requirement for patience."
He says cited two key steps to establishing trade with Cuba: Congress must authorize credit sales to Cuba, and Cuba must reform its economy to be compatible with trade opportunities in the U.S.
The former issue is one U.S. John Boozman, R-Ark., has been working in Congress. Credit sales are necessary to sell to a country that is cash-strapped, and countries like Brazil and Vietnam have gained footholds in Cuba because of their willingness to allow credit.
The U.S. opening commercial flights, and thus, tourism, to Cuba will also help the country generate the cash it needs to do business with the U.S., the governor said. It's another area that will require Congressional approval.
Arkansas' poultry and rice industries are poised to be big beneficiaries of trade with Cuba. (The governor noted that in the poultry section of some grocery stores, there might only be one chicken for sale.)
Among the Arkansas entities with representatives in Cuba this week: Riceland Foods Inc. of Stuttgart, Tyson Foods Inc. of Springdale, Simmons Foods Inc. of Siloam Springs (Mark Simmons), Hanna's Candles of Fayetteville, the Arkansas World Trade Center (Dan Hendrix) and the University of Arkansas (Donald Bobbitt).
Hutchinson said the American Taekwondo Association International was also in Cuba, seeing about holding a convention in Havana.
Other states, including North Carolina, have sent delegations to the country. Hutchinson said Gulf states like Alabama, Louisiana and Florida are also seeking access. But he said Arkansas, with its access to the Mississippi River, stands to be among the top five of states doing business with the country.
Members of the governor's contingent includes his chief of staff, Michael Lamoureux, and Alison Williams, director of State and Federal Relations for the Governor.
More: You can listen to full audio of the governor's teleconference right here.
Nucor-Yamato Steel Co. said Thursday that it will announce "a significant capital investment" in Mississippi County and "the State of Arkansas." It's planning a media event for 2 p.m. Friday.
In an email, the steel manufacturer said Gov. Asa Hutchinson and Nucor Chairman and CEO John Ferriola will attend the event. J.R. Davis, the governor's spokesman, confirmed Hutchinson's plans to attend and said he'll release more details Friday morning.
Nucor, which operates steel plants near Blytheville, employs about 1,600 people in Arkansas.
Update: The company announced that it is investing $75 million to add a new manufacturing process to the plant.
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