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Goldman Sachs (GS)
Bloomberg reports that Goldman Sachs is tapping demand that’s driven their borrowing costs to the lowest level in almost five years. The company issued $2 billion of bonds at a yield premium 44 % less than the last time it sold similar-maturity debt.
What a difference a year makes. Goldman sold the 5.375 % 10-year notes, priced to yield 5.493 percent, or 190 basis points more than Treasuries. Last May however, according to Bloomberg, Goldman paid a spread of 337.5 basis points.
Mar 2 · 11:12:00 AM
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by Jerry Byrne
Chevron (CVX)
As a verdict nears in the long-running environmental lawsuit against Chevron Corp. in Ecuador, both sides are ratcheting up the pressure, the San Francisco Chronicle reports.
The man who says oil field contamination in Ecuador's rain forest killed two of his children will try to meet with Chevron's new chief executive officer, John Watson, the newspaper says. Together with some of his American supporters, Emergildo Criollo will go first to Watson's home in Lafayette, then to the company's headquarters in San Ramon, carrying with him petitions signed by 325,000 people asking Chevron to settle the suit.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/03/01/BULA1C97V3.DTL#ixzz0h2ArSRBj
This litigation is a long-running sad story, and it is unclear when or if it will end.
Mar 2 · 10:48:00 AM · Source: San Francisco Chronicle
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by Jeffrey Epstein
Double Eagle Petroleum Company (DBLE)
Double Eagle Petroleum Co. (Nasdaq: DBLE) announces that the Company achieved annual production for the year ended December 31, 2009 of 9.3 Bcfe, an increase of 39% over 2008 production of 6.7 Bcfe. The increase was driven primarily by the Company's operated Catalina Unit, which accounted for 73% of the year over year increase. Significant production increases were also realized from our
interest in the Pinedale Anticline non-operated properties.
Company notes that amid falling natural gas prices, it managed to increase productivity through existing well and gathering system enhancements.
Mar 2 · 10:34:00 AM · Source: Company Press Release
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by Jeffrey Epstein
Hercules Offshore Inc. (HERO)
Hercules Offshore, Inc. (Nasdaq:
HERO) reports a loss from continuing operations of $26.9 million, or
$0.23 per diluted share, on revenues of $176.4 million for the fourth
quarter ended December 31, 2009, versus a loss from continuing operations of
$1.1 billion, or $12.90 per diluted share, on revenues of $313.5 million
for the quarter ended December 31, 2008.
The Company reported a loss from continuing operations of $90.1 million, or
$0.93 per diluted share, on revenues of $742.9 million for the twelve month
period ended December 31, 2009, versus a loss from continuing operations of
$1.1 billion, or $12.25 per diluted share, on revenues of $1.1 billion for
the twelve month period ended December 31, 2008.
The company says it tried hard to cut costs last year, and is hoping for improved results this year.
Mar 2 · 10:28:00 AM · Source: Company Press Release
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by Jeffrey Epstein
Southwest Airlines (LUV)
Shares in Southwest Airlines set a new 52-week high at USD12.89 yesterday, up 1.0% from the previous day’s close. AirTran's shares soared 5.6%, while JetBlue and Allegiant were also stronger, up 0.6% and 1.7%, respectively, according to the Centreforaviation.com.
US airline stocks have been stronger so far in 2010, due to improved balance sheets and passenger demand. With signs of the economy improving further, investors are optimistic that some of the large carriers will report profitable results in 2010.
Mar 2 · 8:46:00 AM · Source: Center for Asia Pacific Aviation
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by Steve Wieczorek
AIG (AIG)
American International Group, Inc. announced today a definitive agreement for the sale of the AIA Group, Limited, one of the world's largest pan-Asian life insurance companies, to Prudential plc for approximately $35.5 billion, including approximately $25 billion in cash, $8.5 billion in face value of equity and equity-linked securities, and $2.0 billion in face value of preferred stock of Prudential, subject to closing adjustments.
This deal will provide some of the needed cash AIG sorely needs.
Mar 1 · 10:21:00 AM · Source: Company Press Release
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by Larry Etter
Verizon (VZ)
Responding to the devastating earthquake in Chile, Verizon is waiving all long-distance usage charges for calls from itsresidential landline and Verizon Wireless phones to Chile, from Feb. 26 through Mar. 6.* The company will also waive all Verizon Prepaid Phone Card charges for all long-distance calls placed from the U.S. to Chile.
Mar 1 · 10:16:00 AM
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by Larry Etter
Texas Instruments (TXN)
Texas Instruments Incorporated today introduced a new highly-integrated, cost-effective radio frequency (RF) range extender for low-power wireless applications at 850 to 950 MHz, such as wireless sensor networks, automatic meter reading (AMR), and wireless industrial controls, consumer and audio systems.
The single-chip CC1190 integrates a power amplifier (PA), a low-noise amplifier (LNA), switches and RF matching, which eliminates expensive discrete components, simplifies design layout, reduces test time, improves RF performance and shrinks overall board space
Mar 1 · 10:14:00 AM · Source: Company Press Release
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by Larry Etter
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