Wednesday, September 8, 2010

Daily Markets - PKX To Acquire Daewoo International

Daily Markets - PKX To Acquire Daewoo International

PKX To Acquire Daewoo International

Posted: 08 Sep 2010 11:35 AM PDT

Korean steel maker, POSCO (NYSE:PKX) signed an agreement with the creditors of Daewoo International Corp., an energy developing company, for the acquisition of a 68% stake (or 68.7 million shares) by the end of September 2010. The transaction value of KRW 3.37 trillion is 2.5% lower than POSCO's original offer of KRW 3.46 trillion.
 
The total 68% stake in Daewoo International is jointly held by state-run Korea Asset Management Co (KAMCO), The Export-Import Bank of Korea, Korea Development … [visit site to read more]

Cisco Buys Smart Grid Firm

Posted: 08 Sep 2010 11:35 AM PDT

Cisco Systems (NASDAQ:CSCO) recently announced that it agreed to acquire privately held Arch Rock Corp., which specializes in wireless network equipment for smart grids. Cisco did not say how much it was paying for the company.

The networking giant said the acquisition would help it beef up its IP-based, end-to-end smart grid offerings, adding that Arch Rock complemented its recently announced strategic alliance with smart meter provider Itron for the development of solutions that enhance … [visit site to read more]

SunPower Avails A $1.8M Grant

Posted: 08 Sep 2010 11:35 AM PDT

SunPower Corp. (SPWRA) announced that it will receive a $ 1.8 million grant, allowing it to explore photovoltaic (PV) energy storage for large commercial applications. This grant from the California Solar Initiative Research, Development, Deployment and Demonstration (CSI RD&D) Program was approved by the California Public Utilities Commission (CPUC) in its second round of funding.
 
Under this program, SunPower will work to establish a pilot program for demonstrating the … [visit site to read more]

Hot Stock Option Plays For Wednesday: Yahoo, Capital One Financial, New York Times, ZymoGenetics

Posted: 08 Sep 2010 11:11 AM PDT

Capital One Financial Corp. (NYSE:COF) – Bullish traders flocked to the "what's in your wallet?" financial services company right out of the gate this morning to pick up near-term call options. Investors populating COF options exchanged more than 7 calls on the stock for each single put option in action ahead of midday in New York. Capital One's shares increased as much as 2.8% earlier in the session to touch an intraday high of $39.93. The stock is currently trading 1.65% higher on … [visit site to read more]

Mylan Acquires Bioniche Pharma

Posted: 08 Sep 2010 11:05 AM PDT

Mylan Inc. (NYSE:MYL) recently announced the completion of the acquisition of privately held Bioniche Pharma Holdings Ltd for $550 million in cash. The company added that the acquisition, which was announced in mid-July, was completed earlier than expected.
 
The deal gives Mylan a direct entry into the North American injectable drugs market, and should add to the company's profits in the first year itself, without accounting for operational or other synergies.
 
Ireland-based … [visit site to read more]

Illinois Tool Acquires Elro Group

Posted: 08 Sep 2010 11:05 AM PDT

Illinois Tool Works Inc. (NYSE:ITW) recently acquired Bremergarten-based developer and manufacturer of high quality thermal food service equipment, Elro Group. The terms of the transaction were not disclosed.
 
The acquired company, founded in 1934, employs roughly 200 employees and will operate as a separate business entity under Illinois Tool's Food Equipment Group. The acquisition compliments Illinois Tool's existing businesses in the growing cooking platform.
 
Illinois Tool … [visit site to read more]

Forex Trading: AUDUSD Tests Intraday Moving Average Borderline

Posted: 08 Sep 2010 10:51 AM PDT

NCR Corp. Inks UniCredit Deal

Posted: 08 Sep 2010 10:35 AM PDT

Technology and solutions provider NCR Corp. (NYSE:NCR) announced that it will offer a software security solution to UniCredit Bank's multivendor automated teller machines (ATMs). Financial details of the deal were not disclosed.
 
UniCredit Bank, the leading financial services provider in Russia, will deploy NCR Corp.'s 'Solidcore Suite for APTRA' in all its branches to secure its ATM networks from any frauds or running of any unauthorized codes.
 
'Solidcore Suite for … [visit site to read more]

Morgan Stanley Shuffles Executives

Posted: 08 Sep 2010 10:35 AM PDT

Yesterday, Morgan Stanley (NYSE:MS) announced that Ms. Sophia Drossos has been appointed as a senior investor of the company's Investment Management unit.
 
Though, the news was announced through Morgan Stanley's internal memo yesterday, the appointment had been made on August 16. The memo also stated that Mr. Edward Riguardi has become a member of Investment Management unit's research team.
 
Ms. Drossos, who joined Morgan Stanley in July 2003, was earlier a co-head of the … [visit site to read more]

EPD: Inorganic Growth Continues

Posted: 08 Sep 2010 10:05 AM PDT

Enterprise Products Partners, L.P. (NYSE:EPD), a leading master limited partnership (MLP), and Enterprise GP Holdings, L.P. (NYSE:EPE) have joined hands for a definitive unit-for-unit merger agreement. With this agreement, EPD's long-term cost of capital will be lower and its organizational structure will be simplified. The deal is expected to be completed in the fourth quarter of 2010.
 
Following the closure of this deal, EPE will become a wholly-owned subsidiary of EPD. Consequently, … [visit site to read more]

Ciena Beats But Loss Widens

Posted: 08 Sep 2010 10:05 AM PDT

Telecommunications network specialist Ciena Corp. (NASDAQ:CIEN) reported third quarter fiscal 2010 loss of $16.7 million or 18 cents per share (including Nortel's assets), which increased from a loss of $13.4 million or 15 cents in the year-ago quarter.

Earnings include stock based compensation charges but exclude one time items such as amortization of intangibles, fair value adjustment of acquired inventory, acquisition and integration as well as restructuring costs, loss on cost method … [visit site to read more]

Turn Out The Lights: Green Regulation Causes U.S. Light Bulb Factory To Close, 200 Jobs Are Gone

Posted: 08 Sep 2010 09:34 AM PDT

From today’s Washington Post, a good example of the Law of Uninteded Consequences:

“During the recession, political and business leaders have held out the promise that American advances, particularly in green technology, might stem the decades-long decline in U.S. manufacturing jobs. But as the lighting industry shows, even when the government pushes companies toward environmental innovations and Americans come up with them, the manufacture of the next generation technology can still end up … [visit site to read more]
at

No comments:

Post a Comment