Market News
Cisco (CSCO)
Cisco today announced that Coca-Cola Bottling Co., Salem
Hospital, ExamWorks, and University of Sydney have selected Cisco(R) Data Center 3.0 technology to optimize data center resources, simplify data center management, and reduce the total cost of ownership, while increasing business agility and productivity.
Feb 10 · 11:12:00 AM · Source: Company Press Release
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by Larry Etter
Travelers (TRV)
The Travelers Companies, Inc. has announced that Bill Cunningham has been promoted to Executive Vice President, Business Insurance, leading the company's Business Insurance segment, effective March 1, 2010. Cunningham succeeds John Albano following Albano’s decision to take on a part time role at Travelers so he can pursue outside interests.
Feb 10 · 11:01:00 AM · Source: Company Press Release
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by Larry Etter
Bank of America (BAC)
Bank of America Merrill Lynch today announced that Alastair Borthwick and Lisa Carnoy have been named co-heads of the company's Global Capital Markets business. This move follows the recent announcement that Bruce Thompson, former head of Global Capital Markets, has been appointed chief risk officer for Bank of America.
Feb 10 · 10:58:00 AM · Source: Company Press Release
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by Larry Etter
AES Trust (AES)
Greenhouse Gas Services, a venture of GE Energy Financial Services and The AES Corporation announced it has expanded into renewable energy and into Canada by acquiring StormFisher Ltd.
The acquisition of Toronto-based StormFisher-which builds, owns, and operates projects in North America that turn food or agricultural byproducts into natural gas and electricity-enables Greenhouse Gas Services to grow in markets outside the U.S. and particularly where governments support renewable energy, such as Ontario. In the transaction, Denham Capital, an energy and commodities-focused private equity firm, becomes an investor in Greenhouse Gas Services by exchanging its stake in StormFisher for ownership in Greenhouse Gas Services. Greenhouse Gas Services will retain the StormFisher brand as its biogas business line. Other terms of the transaction were not disclosed.
Feb 9 · 4:02:00 PM · Source: Reuters
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by Michael Oliveto
Air Products (APD)
Air Products announced that it has made an offer to acquire Airgas, Inc. for $60.00 per share in cash.
At $60.00 per share, the offer provides a 38% premium to Airgas shareholders based on yesterday's closing price of $43.53 and is 18% above Airgas' 52-week high.
Feb 9 · 3:53:00 PM · Source: Reuters · Related: Airgas
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by Michael Oliveto
AK Steel (AKS)
About 284 workers laid off from AK Steel Corp's Mansfield plant have secured one victory this year all are back at work.
Mr Brian Speelman president of United Steelworkers of America Local 169 said “The last of those employees, who were laid off during the worst of the recession, returned to work late last month. Hourly union employees are working three shifts, seven days a week.”
Feb 9 · 3:49:00 PM · Source: Steel Guru
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by Michael Oliveto
Weyerhaeuser (WY)
Mitsubishi Corporation and Weyerhaeuser Company will be examining a variety of options regarding cooperation in the biomass industry. Both companies have specified this in the form of a strategic Memorandum of Understanding.
Weyerhaeuser sees existing and future opportunities on the international bio-energy market and has set its sights on becoming a leading bio-pellet manufacturer in cooperation with Mitsubishi.
Feb 9 · 3:39:00 PM · Source: EUWID Pulp and Paper
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by Michael Oliveto
EU
Germany is considering what it could contribute to a European Union contingency plan to provide financial backing for Greece, the Wall Street Journal reported today. The preparations, a source said, come two days before an informal summit planned by the EU in Brussels. Separately, German Finance Ministry Spokesman Michael Offer said summit attendees would work on further steps to help Greece shore up public finances and restore calm in financial markets.
Feb 9 · 3:03:00 PM
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by Larry Etter
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