Market News
Chicago Rivet & Machine Co. (CVR)
Chicago Rivet & Machine Co. declared a regular quarterly dividend in the amount of $.10 per share payable March 19, 2010 to shareholders of record on March 5, 2010.
At today''s $15.30 stock price the dividend yield is 2.61%.
Feb 15 · 7:09:00 PM
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by Michael Oliveto
Cano Petroleum (CFW)
Cano Petroleum announced that production for the quarter ended December 31, 2009 averaged 1,189 net barrels of equivalent oil per day (“BOEPD”). This is 1.2% lower as compared to production of 1,203 net BOEPD for the quarter ended December 31, 2008 (“Prior Year Quarter”) and 2.4% lower as compared to production of 1,218 net BOEPD for the quarter ended September 30, 2009. Production for the six-month period ended December 31, 2009 (“Current Six Months”) of 1,204 net BOEPD was 1.1% lower as compared to the six-month period ended December 31, 2008 (“Prior Year Six months”) of 1,218 net BOEPD.
Factors decreasing production for the Current Quarter include: (i) a 50 BOEPD temporary reduction to redistribute water injection at the Cato waterflood to enlarge the waterflood “footprint”, and (ii) a 22 BOEPD reduction due to curtailed Barnett Shale natural gas production at our Desdemona Properties. Otherwise, normal field declines of production were more than offset by consistent and increasing performance at waterfloods from both our Cato and Panhandle Properties.
Feb 15 · 7:05:00 PM · Source: Your Oil and Gas News
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by Michael Oliveto
BP (BP)
BP is in talks to pay about $1.2 billion for a majority stake in a privately held Canadian company with large reserves of oil-rich sand deposits.
Reliance Industries Ltd is thought to have made a rival $2 billion takeover bid but BP is understood to be the preferred partner, the paper said.
Feb 15 · 7:00:00 PM · Source: Reuters
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by Michael Oliveto
Beacon Roofing Supply (BECN)
Beacon Roofing Supply announced that it has acquired Independent Building Materials (“IBM”), a distributor of mostly residential roofing systems and related accessories with one location in Orlando, Florida.
Rick Stiskin, who co-founded IBM with his retiring partner Dennis Booth, will remain IBM’s General Manager and be part Beacon’s regional leadership team. Mr. Stiskin stated, "Dennis and I believe that joining Beacon presents a fantastic opportunity for IBM and our employees. Beacon’s size and reputation in the industry will allow us to better serve our customers and expand our product offering to help grow our business. We could not be more excited about IBM’s future."
Feb 15 · 6:57:00 PM · Source: AZO Building
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by Michael Oliveto
AMR (AMR)
The United States Department of Transportation gave its tentative approval to grant antitrust immunity to AMR Corp.'s American Airlines (American Airlines) and its four oneworld partners to form a global alliance.
If the decision is made final, American Airlines and its oneworld alliance partners British Airways, Iberia Airlines, Finnair and Royal Jordanian Airlines would be able to more closely coordinate international operations in transatlantic markets.
Feb 15 · 6:54:00 PM · Source: Reuters
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by Michael Oliveto
ABB (ABB)
ABB said it has won an order worth $107 million from Societe Nationale d'Electricite, the national power company in the Democratic Republic of Congo.
ABB will refurbish the stations that convert alternating current to direct current and back on the 560 megawatt Inga-Kolwezi power transmission link.
-The 1,700 kilometer system was built by ABB in 1982 and was, at that time, the world's longest transmission line.
Feb 15 · 6:51:00 PM · Source: Easy Bourse
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by Michael Oliveto
Terra Industries (TRA)
Terra Industries announced that the Company's Board of Directors has unanimously approved a definitive merger agreement under which Yara International ASA (OSLO: YAR.OL) ("Yara") will acquire all of the outstanding shares of Terra common stock for US$41.10 per share in cash. The transaction has a total equity value of approximately US$4.1 billion. The US$41.10 per share cash purchase price represents a 23.6% premium over Terra's closing price on February 12, 2010, the last trading day prior to today's announcement.
"Our Board is unanimous in its firm belief that this transaction is compelling for our shareholders, customers, and employees" said Henry Slack, Chairman of the Board of Terra. "In December Terra paid a special cash dividend of $7.50 per share to our shareholders, and with this transaction, we have delivered a significant premium for their investment in Terra."
Feb 15 · 6:48:00 PM · Source: Company Press Release
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by Michael Oliveto
SkyWest (SKYW)
SkyWest reported a 9.9 percent increase in revenue passenger miles (RPMs) for January, while available seat miles (ASMs) increased 8.4 percent compared to the same period last year.
The combined airlines generated 1.37 billion RPMs for the month, while ASMs increased to 1.87 billion. Load factor was up 1.0 percentage points to 73.3 percent compared to 72.3 percent for the same period last year. Passenger boardings for January totaled 2,737,931 a 12.0 percent increase from January 2008.
Feb 15 · 6:45:00 PM · Source: PR-USA
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by Michael Oliveto
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