Archive for September, 2009
(GE) General Electric Bags $1.3 Billion Kuwaiti Contract
GE Energy announced that the Kuwait Ministry of Electricity and Water has signed a turnkey contract with GE Energy and Hyundai Heavy Industries totaling $2.65 billion for a new 2,000-megawatt power plant in Sabiya. The Government of Kuwait-owned plant will allow Kuwait to boost...
15Sep2009 | vitalstocks | 0 comments | Continued(SMP) Standard Motor Products Upgraded to Outperform
We have upgraded the recommendation on Standard Motor Products (SMP) from Neutral to Outperform. This reflects the company’s improving outlook due to strong brand recognition, less cyclical end-market, efficient debt management measures and inventory management. Standard Motor...
15Sep2009 | vitalstocks | 0 comments | Continued(MGA) Magna International to Restore Opel’s Profitability
Magna International (MGA) has revealed that it will downsize 10,500 jobs in its newly acquired Opel/Vauxhall business in Europe. The announcement brings no surprise as the company had previously stated to retrench a fifth of the Opel workforce to make the unit financially viable. Last...
15Sep2009 | vitalstocks | 0 comments | Continued(AIG) Obama On the Street
Today, President Obama went to Wall Street and gave a speech at Federal Hall. Below I present key sections of the speech an my reaction to them. The full speech can be accessed here. “It was one year ago today that we experienced just such a crisis. As investors and pension-holders...
15Sep2009 | vitalstocks | 0 comments | Continued(VMED) Virgin Media Chooses Cisco
Virgin Media Inc (VMED) has decided to upgrade its IPTV distribution platform and legacy digital TV infrastructure using Cisco System Inc’s (CSCO) digital video head-end technology. Virgin is currently rolling-out a high-speed diversified video and TV content delivery network....
15Sep2009 | vitalstocks | 0 comments | Continued(OMAB) Mexican Airport Operator Grupo Aeroportuario Sees Fewer Passengers
Early last week, Mexican airport operator, Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB), reported terminal passenger traffic at its 13 airports during August 2009. Total passenger traffic decreased 12.9% year over year in the month. Domestic traffic decreased 11.0%,...
15Sep2009 | vitalstocks | 0 comments | Continued(DCM) NTT DoCoMo Pursues Global Ambition
NTT DoCoMo (DCM) has decided to focus strongly on mobile content offerings, a new avenue to increase revenue. In order to become a powerful mobile content delivery player internationally, the company has decided to acquire German wireless value-added services specialist Net Mobile...
15Sep2009 | vitalstocks | 0 comments | Continued(TXT) Textron Issues $600 Million in Notes
On Sep 14, 2009, Textron Inc. (TXT) sold notes in two parts worth $600 million. The size of the deal represents a 20% increase from the originally planned $500 million. Bank of America Corporation (BAC), Goldman Sachs Group Inc. (GS), JPMorgan Chase & Co. (JPM) were the joint...
15Sep2009 | vitalstocks | 0 comments | Continued(VOD) Indian Government Fixes Spectrum Auction Date
The Indian government has finally announced the 3G and WiMax (wireless broadband access) auction date. The country’s Department of Telecommunications (DoT) will commence the auction process for 3G WCDMA spectrum (radio bandwidth) on Dec 7, 2009 and for WiMax on Dec 9, 2009....
15Sep2009 | vitalstocks | 0 comments | Continued(T) AT&T Delays Acquisition Centennial Communications
AT&T (T) has further delayed its acquisition of regional telecom operator Centennial Communications (CYCL) which is now expected to conclude in fourth-quarter 2009. The acquisition was originally set to close by second-quarter 2009 but was delayed to third-quarter 2009 in...
15Sep2009 | vitalstocks | 0 comments | Continued(MTL) Russia’s Mechel OAO Opens New Production Line
One of Russia’s leading mining and metal companies, Mechel OAO (MTL) is starting a new production line for cold-deformed reinforcement wire at its Beloretsk Metallurgical plant (BMP) subsidiary. Total investment in the project exceeded 55 million rubles ($1.79 million). Mechel...
14Sep2009 | vitalstocks | 0 comments | Continued(MSFT) Microsoft Loses Court Ruling In South Korea
A Seoul Central District Court ruling went against Microsoft (MSFT) on Friday. The court held that Microsoft’s bundling of the Windows Media Service with its Windows operating system amounted to unfair competition. It was felt that consumers should be allowed to make their...
14Sep2009 | vitalstocks | 0 comments | Continued(PLD) ProLogis Moving Along With New Lease
ProLogis (PLD), a leading global provider of distribution facilities, recently agreed to lease about 154,000 square feet of newly developed space in the Czech Republic to Geis Logistics. The leased facility at ProLogis Park Ostrava is strategically located close to the Ostrava...
14Sep2009 | vitalstocks | 0 comments | Continued(JCP) J. C. Penney Co. Inc Launches Sportswear Brand
Apparel retailer J. C. Penney Co. Inc. (JCP) recently launched an exclusive range of contemporary career sportswear brand for female professionals called “she said”. The in-house brand features body conscious fits with signature pieces that enable customers to blend their...
14Sep2009 | vitalstocks | 0 comments | Continued(PG) Procter & Gamble Management Reiterates Guidance
Procter & Gamble Co. (PG) recently reaffirmed its earnings and sales outlook for the first quarter of fiscal 2010. Management also provided guidance for organic sales growth for the second quarter of 2010 and updated its forecast for fiscal 2010. The world’s leading consumer...
14Sep2009 | vitalstocks | 0 comments | Continued(CAT) Caterpillar to Work with Navistar International
Caterpillar Inc. (CAT) recently announced agreement on a joint venture with Navistar International Corp. (NAV). The 50/50 joint venture, NC2 Global LLC, was formed to pursue global commercial truck opportunities outside North America. NC2 will develop, manufacture and distribute...
14Sep2009 | vitalstocks | 0 comments | Continued(LLL) L-3 Communications Holdings Sells Drones to Special Operations Command
L-3 Communications Holdings Inc. (LLL) bagged a contract from the U.S. Special Operations Command for remotely piloted aircraft or drone support. The indefinite delivery, indefinite quantity contract with one base year and four option years is potentially worth up to $250 million....
14Sep2009 | vitalstocks | 0 comments | Continued(SNY) Sanofi-Aventis and Regeneron Pharmaceuticals Suffer Late-stage Pipeline Setback
On Friday, Sanofi-Aventis (SNY) and collaboration partner, Regeneron Pharmaceuticals (REGN) suffered a pipeline setback with the companies halting development of their late-stage pipeline candidate, aflibercept, for the treatment of pancreatic cancer. Aflibercept, an anti-angiogenesis...
14Sep2009 | vitalstocks | 0 comments | Continued($JPM) JP Morgan Chase & Co. Powers Up Arizona
On Friday, JP Morgan Chase & Co. (JPM) said it increased loans and lines of credit to firms based in Arizona during the second quarter. The loan amount increased to about $400 million, which served more than 830 small and medium-sized Arizona businesses. According to JP Morgan,...
14Sep2009 | vitalstocks | 0 comments | Continued(F) Cash for Clunkers Depletes Showrooms
Auto dealers are now facing a sales crisis as the $3 billion “Cash for Clunkers” cash incentive program closes. The program, introduced by the U.S. Government in late July and ended August 24, allowed consumers to trade in their old gas-guzzling cars and trucks with...
14Sep2009 | vitalstocks | 0 comments | Continued(PAC) Grupo Aeroportuario in Mexican Financial Crisis
Last week, Grupo Aeroportuario del Pacifico S.A.B. de C.V. or GAP (PAC) announced preliminary terminal passenger traffic figures for August. Total terminal passengers fell 7.7% from the comparable period last year. Domestic passenger traffic decreased 3.8%, while international...
14Sep2009 | vitalstocks | 0 comments | Continued(JEC) Jacobs Engineering Group Secures Option on Their Air Force Contract
Earlier last week, Jacobs Engineering Group Inc. (JEC) received the third of four one-year options contract with the US Air Force. Under terms the contract, construction and engineering company will provide various services for the Air Force’s Air Armament Center at Elgin...
14Sep2009 | vitalstocks | 0 comments | Continued(NCR) NCR’s Point of Sale Solution Scores
In a recent press release, NCR Corp. (NCR) announced that the United States’ largest travel centers operator, Pilot Travel Centers LLC, has been included in the customer list of the company. Pilot Travel will be using an advanced point-of-sale (POS) solution named the NCR RealPOS...
14Sep2009 | vitalstocks | 0 comments | Continued(MAR) Marriott International Expands in Asia Pacific
Marriott International Inc. (MAR) recently said it signed 21 management contracts for hotels and resorts in the Asia-Pacific region. These hotels, scheduled to open through the end of 2013, will add approximately 7,000 rooms to the company’s portfolio. The projects are lined...
14Sep2009 | vitalstocks | 0 comments | Continued(CVX) Chevron Gives Gorgon Liquefied Natural Gas Approval
Yesterday, U.S. oil major Chevron Corp. (CVX) and its partners announced the final investment decision on the massive Gorgon liquefied natural gas (LNG) venture in Australia following the receipt of the necessary government approvals. The company said that its Australian subsidiary...
14Sep2009 | vitalstocks | 0 comments | Continued(CLF) Cliffs Natural Resources Ups Sales and Production View
International mining and natural resources company Cliffs Natural Resources Inc. (CLF) is expecting increased production and sales volume in its North American Business Unit, which includes its North American Iron Ore and North American Coal business segments. Cliffs expects...
14Sep2009 | vitalstocks | 0 comments | Continued(MDT) Medtronic Warned Doctors of Faulty Batteries
Medtronic, Inc. (MDT) has recently warned doctors that approximately 6,300 of the company’s implanted heart devices have battery drainage problem that might reduce the life-span of these batteries. Certain batches of Medtronic’s Concerto and Virtuoso devices manufactured...
14Sep2009 | vitalstocks | 0 comments | Continued(HPQ) Hewlett-Packard Focuses on Printing
Hewlett-Packard Co. (HPQ) seems to be concentrating more on its printing business recently. In the recent PRINT 09 tradeshow, the company showcased its latest offerings in its Graphics Solutions Business. The company claims, this segment addresses the $115 billion potential...
14Sep2009 | vitalstocks | 0 comments | Continued(AMZN) Chinese Alibaba in the U.S.
The U.S. e-commerce market is heating up, with new competition from China-based Alibaba.com. Alibaba Group CEO Jack Ma recently announced that its new business-to-business (BTB) e-commerce platform is currently in the beta stage and could be expected to launch in the U.S. by...
14Sep2009 | vitalstocks | 0 comments | Continued(BHI) U.S. Oil Drilling Rig Count Reverses Gain
According to data from Baker Hughes Inc. (BHI), the number of rigs searching for oil and gas in the U.S. fell for the week ended Sept. 11, reflecting scaled back drilling activity by the producers. As shown in the first chart below from Baker Hughes, rigs exploring and producing...
14Sep2009 | vitalstocks | 0 comments | Continued