Tuesday, March 8, 2011

DailyMarkets.com - International Paper Remains Neutral

DailyMarkets.com - International Paper Remains Neutral

International Paper Remains Neutral

Posted: 08 Mar 2011 12:05 PM PST

We reiterate our Neutral rating on International Paper Co. (NYSE:IP), a global paper and packaging company with operations in North America, Europe, Latin America, Russia, Asia and North Africa. International Paper's fourth quarter EPS of 68 cents and fiscal 2010 EPS of $2.05 more than doubled from the prior-year results and comfortably beat the respective Zacks Consensus Estimates.
Revenues of $6.5 billion were ahead of the Zacks Consensus Estimate of $6.4 billion. Revenues increased 9% … [visit site to read more] or compare Best Credit Cards and Best CD Rates

United Redraws Growth Plan

Posted: 08 Mar 2011 12:05 PM PST

United Continental Holdings Inc. (UAL), the largest U.S. airline reported a pull-back on its capacity growth plans for 2011 due to escalating fuel prices.
Earlier this year, United Continental announced its guidance of 1% to 2% increase in consolidated capacity in 2011. However, in light of the steeply rising fuel prices, the company now expects to reduce capacity by approximately 1% in May and approximately 4% by September. Additionally, United Continental also plans to scrap unprofitable … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Will The Day Of Rage In Saudi Arabia On March 11 Send The Price Of Oil Into Unprecedented Territory?

Posted: 08 Mar 2011 11:57 AM PST

The price of oil is shaping up to be the number one economic story of 2011, and right now the eyes of the investing world are closely watching the developing situation in Saudi Arabia.  All of the other recent Middle East revolutions have been organized on the Internet, and now all over Facebook and Twitter there are calls for a “Day of Rage” in Saudi Arabia on May 11.  The Saudi monarchy is attempting to head off any protests by promising to give $37 billion in “benefits” to the people … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Discover-InteliSpend Join Forces

Posted: 08 Mar 2011 11:35 AM PST

Discover Network, the credit card payments network of  Discover Financial Services (NYSE:DFS) has agreed with InteliSpend Prepaid Solutions, whereby the latter will issue and manage its prepaid cards on the Discover network.
InteliSpend Prepaid Solutions, an independent entity within Maritz Holdings, Inc. is an issuer and reseller of prepaid products of American Express Company (NYSE:AXP) and Discover branded prepaid products and a program manager for MasterCard Incorporated (NYSE:MA) and Visa Inc. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

IBM Strengthens In Asia-Pacific

Posted: 08 Mar 2011 11:25 AM PST

International Business Machines Corp. (NYSE:IBM) announced a $38 million investment to build a new IBM Asia-Pacific Cloud Computing Data Center in Singapore to exploit the potential of cloud computing through its comprehensive solutions and services.
The new facility in Singapore will extend IBM’s globally-integrated cloud delivery network that includes centers in Germany, Canada and the United States. The company also has 13 global cloud labs, of which seven are based in Asia-Pacific countries … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Label Change For GILD Drug?

Posted: 08 Mar 2011 11:25 AM PST

Gilead Sciences Inc. (NASDAQ:GILD) announced recently that the U.S. Food and Drug Administration (FDA) has approved the removal of potential liver injury warning from the boxed caveat of the Letairis label.
Letairis is approved for the treatment of pulmonary arterial hypertension (PAH). In conjunction with the label change, patients receiving Letairis will no longer require monthly monitoring of liver function through blood tests.
Post marketing data were collected from the Letairis Education and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down In U.S. Trading Hours

Posted: 08 Mar 2011 11:15 AM PST

Forex Pros – The Euro was lower against the U.S. Dollar on Tuesday.

EUR/USD was trading at 1.3910, down 0.43% at time of writing.

The pair was likely to find support at 1.3834, Thursday's low, and resistance at 1.4036, Monday's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.15% to hit 0.8609 and EUR/JPY rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Posted: 08 Mar 2011 11:09 AM PST

Subject
Year
Male: Grade 12
Female: Grade 12
M-F … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Analyst Interviews: Alternative Energy Industry Outlook

Posted: 08 Mar 2011 11:05 AM PST

The growth outlook of alternative energy companies is directly related to the fortunes of the economy and inversely to the prices of petroleum products. Trends on both fronts appear be favoring the alternative energy industry at present.

The U.S. economy has shaken off the negative momentum that appeared to be taking hold in the middle of 2010. The fourth quarter GDP report, despite the subsequent negative revision, is showing the resumption of sustainable economic growth. Importantly, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BMC Wins Deal, Popular In Australia

Posted: 08 Mar 2011 11:05 AM PST

BMC Software Inc. (NYSE:BMC) sealed a deal with the Australian unit of Manheim, a premier online vehicle re-marketing/auction services provider worldwide.
Manheim will deploy BMC Software's Remedy OnDemand service desk solutions to integrate and manage all its business units and operating departments under a single information technology (IT) roof. Manheim will club its IT service management platforms to curtail IT support costs and increase operational transparency.
BMC Software's Remedy … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bullish Options Strategist Tunes Into TiVo

Posted: 08 Mar 2011 10:41 AM PST

Bullish options strategist tunes into TiVo
Today’s tickers: TIVO, PCX, JDSU & ACN
TiVo, Inc. (NASDAQ:TIVO) – A sizable speculative bullish position was initiated in TiVo options today, though shares in the provider of digital video recording services fell as much as 5.85% at the start of the session to hit an intraday low of $8.53. The large four-legged transaction may be the work of an investor positioning for shares in the name to spike higher should the firm prevail in its legal battle … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Wells Fargo To Add 1,000 Jobs

Posted: 08 Mar 2011 10:40 AM PST

Wells Fargo & Company (NYSE:WFC) has announced some job creation in the Mid-Atlantic region. The company will employ over 1,000 team members by mid-May 2011 in Wachovia Banking Stores in Virginia, Maryland and Washington, D.C.
The hiring comes prior to the conversion of Wachovia stores to Wells Fargo brand and systems, scheduled in fall 2011. Since the closure of the Wells Fargo-Wachovia merger in at the end of 2008, Wells Fargo has hired about 600 store team members in the Mid-Atlantic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Macerich Buys Desert Sky

Posted: 08 Mar 2011 10:35 AM PST

The Macerich Company (NYSE:MAC), a real estate investment trust recently purchased the remaining 50.0% ownership of the Desert Sky mall in Phoenix from J.C.Penney Company, Inc. (NYSE:JCP).
Macerich bought the remaining half of the Desert Sky mall for $ 27.6 million assuming a portion of the loan on the property. Concurrent with the acquisition, the $51.5 million loan was paid off.
Desert Sky is a shopping center spanning 900,000 square feet featuring a unique merchandise mix, mainly focusing on the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down In U.S. Trade

Posted: 08 Mar 2011 10:35 AM PST

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Tuesday.

AUD/USD was trading at 1.0104, down 0.15% at time of writing.

The pair was likely to find support at 1.0054, today's low, and resistance at 1.0190, Thursday's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.33% to hit 1.3762 and AUD/JPY rising 0.38% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“One Thing Here To Stay Is Volatility”

Posted: 08 Mar 2011 10:12 AM PST

03/08/11 DME Securities’ Alan Valdes discusses today’s market rally and the pullback in oil … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ABM Lags Ests, Maintains Guidance

Posted: 08 Mar 2011 10:05 AM PST

ABM Industries Inc. (NYSE:ABM) reported first-quarter 2011 adjusted earnings per share (EPS) of 22 cents per share, falling 19% short of the Zacks Consensus Estimate as well as the prior-year quarter EPS of 27 cents.
The EPS in the reported quarter excluded acquisition costs, after-tax transaction costs associated with The Linc Group acquisition and costs for litigation contingency. The prior-year figure excluded acquisition costs and charges related to the company's corporate initiatives. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Up During The U.S. Session

Posted: 08 Mar 2011 10:00 AM PST

Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Tuesday.

NZD/USD was trading at 0.7402, up 0.47% at time of writing.

The pair was likely to find support at 0.7339, Friday's low, and resistance at 0.7474, Thursday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.62% to hit 1.3646 and EUR/NZD falling 0.90% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY Has 100 Day MA On The Downside 82.87 Above

Posted: 08 Mar 2011 09:56 AM PST

The 100 day MA for the USDJPY today comes in at the 82.58 level.  The price moved above this level today and scooted to the upside toward what was the next logical target resistance against the 82.87 level. If you look back to September 15, 2010, that level was where the Bank of Japan (BOJ) came in to intervene. The day saw the price rebound around 300 pips. It is my belief, the market remembers. So when the price approached this level today, profit taking sellers entered with minimal and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ciena Beats, Guides Low

Posted: 08 Mar 2011 09:55 AM PST

Telecommunications network specialist, Ciena Corp. (NASDAQ:CIEN) reported first quarter fiscal 2011 revenues and earnings per share (EPS) above the Zacks Consensus Estimate. However, share price declined 9.8% to close at $25.98 due to lower-than-expected revenue forecast for the second quarter.
Earnings
Adjusted loss per share of 24 cents (including stock-based compensation expense but excluding one-time charges) was above the year-ago quarter's loss of 21 cents per share. However, earnings per … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Accuray Buys TomoTherapy For $277M

Posted: 08 Mar 2011 09:55 AM PST

Leading radiosurgery systems maker Accuray Incorporated (NASDAQ:ARAY) has agreed to buy one of its rivals TomoTherapy (NASDAQ:TOMO) in a cash and stock deal (worth $277 million), which will create a premier player in the radiation oncology market. The transaction has been cleared by the boards of both companies. 
Following the announcement, shares of California-based Accuray slipped 10.5% to $8.96 in early trading on March 7 while TomoTherapy's shares jumped 28% to touch a new 52-week high of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sector Watch: Financials, Transportation, Etc.

Posted: 08 Mar 2011 09:55 AM PST

In my weekly Earnings Trends report, I rank the 16 economic sectors on a wide variety of earnings and sales metrics. The report just looks at the 500 firms in the S&P 500, not the whole Zacks Universe. However, since it is organized by the individual metric, such as Annual Earnings Growth or P/E, it can be hard to get an overall picture of a given economic sector.

This is the third post in a series that tries to rectify that. Since there is a lot to write about in each sector, I will cover … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Mixed At Close; Dax Up 0.04%

Posted: 08 Mar 2011 09:55 AM PST

Forex Pros – European stocks were mixed after the closing bell on Tuesday.

At the close of European trade, Germany's DAX rose 0.04%, London's FTSE 100 shed 0.20%, France's CAC 40 climbed 0.64% and the EURO STOXX 50 was up 0.48%.

Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 1.17%; the S&P 500 index gained 0.96%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PDLI Guides Bullish Q1 Revenues

Posted: 08 Mar 2011 09:35 AM PST

PDL BioPharma Inc. (NASDAQ:PDLI) recently announced that it expects to generate first-quarter 2011 revenue of $83.0 million, representing an increase of 34% over the year-ago revenue of $62.0 million. The guidance, however, includes a lump sum payment of $10 million from UCB Pharma S.A. (UCBJF) for settlement of all legal disputes between the companies in January 2011. Hence, the guidance incorporates royalty revenue of as much as $73 million, an estimated 18% growth over the prior-year period. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Wheat Loses Spec Love

Posted: 08 Mar 2011 09:18 AM PST

Today’s Idea
Wheat fundamentals remain biased to the bull camp at this time, but the attractive energy prices have lured some longs from the market. Global supplies remain extremely tight, and there is concern that losing acreage to Cotton coupled with bad weather could lead to a disappointing US crop. Technically, the market has tested the 750 level and held its ground. Some traders may wish to consider taking a neutral to bullish position and enter into a bull put spread by selling the April … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Topic Reports In Line

Posted: 08 Mar 2011 09:10 AM PST

Hot Topic Inc. (NASDAQ:HOTT) reported fourth quarter fiscal 2010 earnings of 12 cents a share, in line with the Zacks Consensus Estimate. However, it dropped substantially from the prior-year earnings of 18 cents a share. Earnings per share in the reported quarter exclude approximately 13 cents of expenses related to the implementation of the previously announced cost reduction plan. Including the said expenses, loss per share came in at 1 cent.
For fiscal 2010, the company reported loss per share … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Equifax Expands In UK

Posted: 08 Mar 2011 09:05 AM PST

Leading credit information and database provider Equifax Inc. (NYSE:EFX) recently acquired U.K.-based Workload Financial Business Consultants Limited. Financial terms of the deal were not disclosed.
Founded in 1988, Workload Financial provides market intelligence to life, pension, investment and mortgage industries, through its flagship product, Touchstone. Leveraging its wealth and asset data, including information on Industry Standard Architecture and International Fiscal Association, bonds, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Airgas Inks Supply Deal

Posted: 08 Mar 2011 09:05 AM PST

Airgas Inc. (NYSE:ARG) has entered into a three-year supply agreement with Texas-based TDIndustries, a leading mechanical construction and facilities operations services provider. Under the agreement, Airgas will supply industrial gases, and welding and safety products, as well as leased safety equipment and leased welding equipment, welder certification trailers, generators, and compressors to the company.
The Airgas-TDIndustries association is already well entrenched. Airgas has been serving a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down At The End Of European Session

Posted: 08 Mar 2011 09:00 AM PST

Forex Pros – The Euro was lower against the U.S. Dollar on Tuesday.

EUR/USD was trading at 1.3911, down 0.42% at time of writing.

The pair was likely to find support at 1.3834, Thursday's low, and resistance at 1.4036, Monday's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.17% to hit 0.8607 and EUR/JPY rising 0.13% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dollar Rallies On European Debt Uncertainty

Posted: 08 Mar 2011 08:30 AM PST

03/08/11 The US dollar rallied this session on a lack of global economic data and concerns that European debt will … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Can Fed Be Thinking About Dropping “Extended Period” Language?

Posted: 08 Mar 2011 08:28 AM PST

While we outlined the reasons behind the Euro's fall in today's session – sovereign debt worries resurfacing – we also had an interesting development from the US monetary policy side.
A report by an influential think tank – the Medley Advisors – said that the Fed in its FOMC meeting next week will re-affirm its commitment to its current round of $600 billion in quantitative easing but that several members may "grow restless" about an open-ended commitment to ultralow … [visit site to read more] or compare Best Credit Cards and Best CD Rates

IPhone Prospects Excite SK Telecom

Posted: 08 Mar 2011 08:25 AM PST

Starting March 16, South Korean wireless kingpin SK Telecom (NYSE:SKM) will offer Apple Inc.'s (NASDAQ:AAPL) iPhone 4. This will mark an end to the exclusivity enjoyed by its major rival, KT Corp. (KT) since late 2009.
This move will allow SK Telecom to make up for lost revenues and profits as the anticipated strong adoption of smartphones will boost its growth in the wireless market. Smartphones are gaining popularity by the day, in turn driving demand for wireless data.
SK Telecom is pursuing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Penn Virginia Res. Jumps To Neutral

Posted: 08 Mar 2011 08:16 AM PST

We recently moved to a Neutral recommendation for Penn Virginia Resource Partners L.P. (NYSE:PVR) as we see improved synergies following the partnership's merger with its general partner, Penn Virginia Holdings L.P. (NYSE:PVG).
Based in Radnor, Pennsylvania, Penn Virginia Resource Partners operates in the United States and engages in managing coal and natural resource properties. The partnership is also involved in gathering and processing of natural gas. It conducts operations in two business … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Anadys Narrows Loss

Posted: 08 Mar 2011 08:16 AM PST

Anadys Pharmaceuticals Inc.'s (NASDAQ:ANDS) fourth quarter 2010 loss of 8 cents per share (excluding special items) was narrower than the year ago adjusted loss of 15 cents per share. The Zacks Consensus loss estimate for the final quarter of 2010 was 9 cents. The narrower loss was attributable to lower operating costs in the quarter.
The company, which does not have any products in the market, did not report any revenues in the final quarter of 2010, like a year ago. Total operating expenses … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Honeywell Chosen For China Project

Posted: 08 Mar 2011 08:16 AM PST

Honeywell International Inc. (NYSE:HON) has been selected to develop and implement China’s first smart grid pilot project and feasibility study for managing energy use in commercial buildings.
The pilot will bank on Honeywell’s smart grid technology and expertise, which includes automated demand response, advanced energy management and sub-metering.
The company will provide guidance to the state grid and its customers to manage energy supply and demand, automatically adjusting electricity … [visit site to read more] or compare Best Credit Cards and Best CD Rates

$300 Oil By 2020: Scary But Unlikely

Posted: 08 Mar 2011 08:16 AM PST

By Dian L. Chu (A Seeking Alpha Exclusive)

As if the uprisings in Egypt, Libya, and the surrounding MENA (Middle East & North Africa) region are not enough to set off oil prices, Charles Maxwell, a veteran energy analyst (since 1957), is now predicting oil prices will climb to $300 a barrel in 2020, or around $225 in today's dollars due to supply constraints….regardless of what happens in Egypt and MENA……….Full Article [[Free]] at Seeking Alpha

(Reprint or republish only … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pratt’s Engine Powers F35 Aircraft

Posted: 08 Mar 2011 08:15 AM PST

Pratt & Whitney’s F135 conventional take-off and landing engine powered the successful first flight of F-35 aircraft.
The F135 is in production and is the sole engine powering the F-35 Lightning II flight test program.
Pratt & Whitney, a United Technologies Corporation (NYSE:UTX) company, has designed, developed and manufactured the F135 to deliver the most advanced fifth generation fighter engine for the United States and its allies around the world.
United Technologies has strong market … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Steady On Supply Boost Speculation

Posted: 08 Mar 2011 08:10 AM PST

03/08/11 Reports that OPEC is looking to boost crude output alongside Saudi Arabia has led the way for crude prices to remain mostly flat … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Higher Vs. Most Rivals As Oil Prices Retreat

Posted: 08 Mar 2011 07:52 AM PST

Forex Pros – The U.S. dollar was broadly higher against its major counterparts on Tuesday, boosted by reports that more countries may step in to boost oil production and that Libyan leader Moammar Gadhafi may be looking for a way to step down.

During European late afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.55% to hit 1.3891.

Earlier Tuesday, official data showed that German factory orders rose more-than-expected in January, amid strong domestic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Word From The Floor: Crude Oil Eases Below $105

Posted: 08 Mar 2011 02:50 AM PST

03/08/11 US stocks saw mixed trading at the open, as oil pulled back from recent highs. February sales for McDonald’s topped … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down As Retreating Oil Price Boost Greenback

Posted: 08 Mar 2011 07:44 AM PST

Forex Pros – The pound was lower against the broadly stronger U.S. dollar on Tuesday, as oil prices trimmed recent gains and as weak U.K. data weighed on sentiment towards the currency.

GBP/USD hit 1.6126 during European late afternoon trade, the pair's lowest since February 28; the pair subsequently consolidated at 1.6156, shedding 0.27%.

Cable was likely to find support at 1.6070, the low of February 28 and resistance at 1.6341, Monday's high.

The dollar was boosted by reports that … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gold – Gartley, Fibonacci Retracement Levels; 1418 Pivot

Posted: 08 Mar 2011 07:34 AM PST

Stalking Gold and Silver Corrections (3/7)
Gold (XAU/USD)

- Gold is testing the fibonacci retracement level of 61.8% at 1423. The market so far has respected this and the 200SMA in the 1H chart.
- The RSI is staying above 40, and actually forms a bullish divergence at the 40 RSI support for the bullish momentum. This suggests a lost of the near-term bearish momentum.
- If the RSI breaks back above 60, the market is likely in a bullish continuation, which targets 1458, as seen in the 4H chart … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Extends Losses As Dollar Boosted By Falling Oil

Posted: 08 Mar 2011 07:34 AM PST

Forex Pros – The euro extended losses against the U.S. dollar on Tuesday, falling to a fresh three-day low, as oil prices retreated modestly, easing concerns over the impact of higher energy costs on the global economic recovery.

EUR/USD hit 1.3863 during European late afternoon trade, the pair's lowest since Thursday; the pair subsequently consolidated at 1.3880, shedding 0.63%.

The pair was likely to find support at 1.3742, last Wednesday's low and resistance at 1.4035, Monday's and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

McDonald’s Serves Up A Rise In Monthly Revenue

Posted: 08 Mar 2011 02:30 AM PST

03/08/11 For the month of February, McDonald’s reported global growth as being the reason for a spike in global revenue … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bonds Swing As Fears Grow For Change In Fed Stance

Posted: 08 Mar 2011 06:53 AM PST

Bond prices have curiously swung between earlier losses and gains and despite some unambiguously hawkish assurances from German Bundesbanker Axel Weber. The cost of government borrowing around the world had continued to climb forcing steeper yield curves in the process as investors’ alarm grew over the implications of rising crude oil prices. Investors remain nervous over how much more inflation will show up as a result of Middle Eastern turmoil while are equally concerned over the impact on … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Morning News Notes: 3.8.11

Posted: 08 Mar 2011 06:46 AM PST

The morning news notes as prepared by TL…Qadaffi to surrender?, Persian Gulf stock markets to take a page out of the Fed’s playbook, and China. 

“Morning News Notes: March 8, 2011″

click … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Matra Petroleum Gets Closer To Production At Sokolovskoe Field

Posted: 08 Mar 2011 02:13 AM PST

Matra Petroleum (LON:MTA) , the AIM listed oil and gas group operating in Russia, reported this morning that production testing was about to get under way at Well-12 on its Sokolovskoe field and that oil sales would start shortly from Well-13. Well-12 was Matra's original discovery well and was drilled on Sokolovskoe in late 2007. That was followed by Well-13, which was drilled in October 2009 and completed in May last year. Both wells have previously faced technical problems predominantly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Plexus Secures Contract Win From Statoil For Pos-Grip Wellhead Equipment

Posted: 08 Mar 2011 01:31 AM PST

AIM quoted oil and gas engineering services business Plexus (LON:POS) said this morning that it had signed an agreement with energy giant Statoil Petroleum to supply its proprietary Pos-Grip high pressure/ high temperature (HP/HT) wellhead technology for gas exploration activities in the Norwegian Continental Shelf. The contract is worth approximately £700,000, with revenues expected to commence 1 August 2011. The Plexus share price responded with a 5% rise to 57.5p.

Under the terms of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates
at

No comments:

Post a Comment