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Fluor (FLR)
Fluor Corporation reported for the full year 2009 earnings of $148.7 million, or $0.83 per share, on sales of $5.479 billion. That compares to the prior year earnings of $189.5 million, or $1.04 per share, on sales of $6.071 billion.
"Fluor's strong earnings in 2009, including great performance from the Oil & Gas, Power and Government segments, were surpassed only by our record results in 2008," said Chairman and Chief Executive Officer Alan Boeckmann. "Regarding current market conditions, while we are encouraged by the notable uptick in front-end engineering activity, we continue to experience uncertainty as overall capital investment in most industrial markets lags behind pre-recession levels."
Feb 25 · 10:34:00 PM · Source: Company Press Release
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by Michael Oliveto
ECO International (ESV)
ECO International reported for the full year 2009 earnings of $779 million, or $5.48 per share, on sales of $1.946 billion. That compares to the prior year earnings of $1.151 billion, or $8.04 per share, on sales of $2.397 billion.
Chairman, President and Chief Executive Officer Dan Rabun stated, "In the fourth quarter, earnings grew significantly compared to the third quarter. The increase was driven by higher utilization across the fleet and our growing deepwater segment - which equaled one-quarter of total revenues in the fourth quarter. Looking ahead, we project deepwater segment revenue will continue to grow significantly as more of our new ultra-deepwater semisubmersibles commence drilling for our customers. Growth in our deepwater segment is expected to lessen the impact of declining average day rates in our jackup business - as rates from expiring jackup rig contracts are adjusted to today's lower market rates. Fortunately, market rates for premium jackup rigs have been stabilizing somewhat over the past several months."
Feb 25 · 10:30:00 PM · Source: Company Press Release
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by Michael Oliveto
Edison International (EIX)
Edison International declared a regular quarterly dividend in the amount of $0.315 per share payable April 30, 2010 to shareholders of record on March 31, 2010.
At today''s $32.74 stock price the dividend yield is 3.85%.
Feb 25 · 10:21:00 PM
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by Michael Oliveto
Dynegy (DYN)
Dynegy reported for the full year 2009 a loss of $1.247 billion, or $-1.52 per share, on sales of $2.468 billion. That compares to the prior year earnings of $174 million, or $.20 per share, on sales of $3.324 billion.
The net loss in 2009 was driven by asset and goodwill impairments, a net loss on asset sales, mark-to-market losses, debt extinguishment costs and lower interest income. GAAP results in 2008 included a net gain on asset sales and mark-to-market gains, partially offset by asset impairments.
Feb 25 · 9:24:00 PM · Source: Company Press Release
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by Michael Oliveto
Deere & Company (DE)
Deere & Company today announced that it will review strategic options for its wind energy business and has retained Goldman, Sachs & Co. as exclusive financial advisor to assist in the initiative.
Deere said no formal decisions have been made and no agreements have been reached concerning the company's long-term investments in wind energy projects that are either operational or in development in several states of the U.S.
Deere has been involved in the financing, development, and ownership of wind energy projects for the past five years and has become a leader in project development, management, and financing of wind energy projects in rural U.S. communities.
Currently, Deere has 34 wind energy projects in seven states with operational capacity of 706 megawatts. In addition, the company has numerous wind energy projects in development.
Feb 25 · 9:18:00 PM · Source: Company Press Release
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by Michael Oliveto
Bemis Company (BMS)
Bemis Company announced that the U.S. District Court
for the District of Columbia has signed an order, approving Bemis` acquisition
of the Food Americas operations of Alcan Packaging, a business unit of
international mining group Rio Tinto plc (LON: RIO; ASX: RIO), subject to
certain conditions.
The Food Americas operations recorded 2009 net sales of
approximately $1.4 billion and operate 23 plants in North America, South
America, and New Zealand. With this agreement, Bemis has satisfied the U.S.
regulatory approval requirements necessary to complete the acquisition. Bemis
expects the transaction to close as soon as possible.
The order signed by the court requires Bemis to divest certain Alcan Packaging
Food Americas packaging assets in the United States after closing. The packaging
assets that will be divested represent approximately $100 million in annual net
sales and include two facilities with production equipment used to produce
packaging for fresh meat and retail natural cheese products.
Feb 25 · 9:15:00 PM · Source: Reuters
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by Michael Oliveto
Allegheny Energy (AYE)
Allegheny Energy declared a regular quarterly dividend in the amount of $.15 per share payable March 22, 2010 to shareholders of record on March 8, 2010.
At today''s $22.95 stock price the dividend yield is 2.61%.
Feb 25 · 9:06:00 PM
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by Michael Oliveto
American Oil & Gas Inc. (AEZ)
American Oil & Gas Inc. (NYSE Amex: AEZ) announces that drilling
operations have commenced on American's Ron Viall 1-25H well located in
156N-98W Sections 24 and 25 in Williams County, ND. The well is currently
drilling at an approximate vertical depth of 10,930' and a measured depth
of 11,080'. Casing has been set around the curve and current operations
are focused on drilling the planned 9,000' lateral in the Bakken
formation. The Ron Viall well is spaced on 1,280 acres. American owns a
95% working interest in this well.
The Tong Trust 1-20H well, located in Sections 17 and 20 of T157N-R96W,
Williams County, ND, is scheduled for completion operations to commence in
early March. This well is being drilled, completed and funded under the
terms of a previously announced participation agreement. The casing, and
the associated completion assembly have been set which will facilitate up
to 26 fracture stimulation stages in the Bakken formation.
One more well in production.
Feb 25 · 9:05:00 PM · Source: Company Press Release
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by Jeffrey Epstein
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