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AT&T (T)
AT&T* announced today that it has deployed Network Disaster Recovery (NDR) resources to Chile as a preventive measure to ensure business continuity of the AT&T node in Santiago. The action is in response to a series of natural disasters that have affected the South American country since the devastating earthquake of February 27, which was followed by tsunamis and various aftershocks.
Mar 18 · 11:22:00 AM · Source: Company Press Release
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by Larry Etter
Comerica (CMA)
Comerica Incorporated today
announced that it has redeemed the $2.25 billion of preferred stock issued
to the U.S. Department of the Treasury under the Troubled Asset Relief
Program's Capital Purchase Program (TARP), five days after completing the
public issuance of $880 million of its common stock. In addition to the
$2.25 billion redemption payment, Comerica paid the U.S. Treasury a total of
$150.9 million in dividends on the preferred stock since the date it was
issued in November 2008.
By repaying the TARP investment, Comerica will eliminate the annual $134
million negative impact to net income to common shareholders related to the
preferred stock.
Mar 18 · 11:19:00 AM · Source: Company Press Release
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by Larry Etter
CB Richard Ellis Group (CBG)
CB Richard Ellis Group, Inc. today announced a significant expansion of its solar energy services capabilities and an enhanced commitment to sustainable property ownership through the launch of CBRE Solar. CBRE Solar will provide services to the Company's clients, initially in the United States and Canada. Its service offering encompasses a broad range of solar energy solutions for clients, including solar power purchase agreements, roof leases, advisory services, project development services, project management services and solar project investment opportunities.
Mar 18 · 11:17:00 AM · Source: Company Press Release
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by Larry Etter
Citigroup (C)
Citigroups' life insurance unit, Primerica, filed for an initial public offering of up to $252 million as part of Citigroup's plan to shed assets outside its main banking business. Citi expects to sell 18 million Primerica shares to the public and 17.2 million shares to private equity firm Warburg Pincus, plus warrants. Post-IPO, Citi's stake will be 32%-46%, while Warburg Pincus' stake will be 23%-33%.
Mar 18 · 11:14:00 AM
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by Larry Etter
Delta Air Lines (DAL)
All the legacy carriers reduced their work forces in January except for Delta Air Lines Inc. (NYSE:DAL), which for the first month reported combined numbers with Northwest Airlines, which Delta bought in 2008, according to Fox Business. AMR Corp.'s (NYSE:AMR) American Airlines and Continental Airlines Inc. (NYSE:CAL) tied for the biggest network-carrier decline, at a 4.7% drop in employment. Even including Delta's 67% increase in work rolls, legacy carriers' overall employment was down 2.3%.
Discount carriers increased their work force 1.4% in January from a year earlier. Market leader Southwest Airlines Co. (NYSE:LUV) had 2.1% fewer employees, but it was the only low-cost carrier to shrink its pool of workers. Smaller rivals Frontier Airlines Holdings Inc. (FRNTQ) and Virgin America, partly owned by the U.K.'s Virgin Group, posted 16% and 14% increases.
Mar 17 · 12:43:00 PM · Source: Fox Business
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by Steve Wieczorek
Southwest Airlines (LUV)
Southwest Airlines (NYSE:LUV) the star performer in improving its unit revenues in recent months, continued to trump JetBlue, Continental Airlines and US Airways in this metric in Feb-2010, and was joined by United Airlines in reporting double-digit PRASM (Passenger Revenue per Available Seat Mile) in the month, according to the Centre for Asia Pacific Aviation. Encouragingly, all the US carriers reporting monthly unit revenue figures registered growth in the month, with AirTran and Allegiant, which do not provide such updates, separately commenting of "improved" conditions in the market.
The lucrative business market, while recovering, is yet to return to pre-crisis levels, maintaining the pressure on the profitability and revenue outlook. The unit revenue figures were also inflated in the month, due to weather-related cancellations, which resulted in significant cancellations (and capacity reductions) across the US domestic network.
Mar 17 · 12:09:00 PM · Source: Centre for Asia Pacific Aviation
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by Steve Wieczorek
China Eastern Airlines (CEA)
China Eastern Airlines (NYSE:CEA) received its parent’s stake in a cargo venture with Singapore Airlines as part of a plan to consolidate the carrier’s air-freight operations, according to China Economic Review. Chairman Liu Shaoyong said China Eastern has already taken over management of Great Wall Airlines. Great Wall Air is 51% owned by China Eastern Air, 25% by Singapore Air’s cargo unit and 24% by Temasek, the Singapore state-owned investment company.
BusinessWeek reports the carrier has begun to reorganize operations after buying Shanghai Air to boost its market share in its home city. China Eastern also faces increasing competition in the freight market from a planned Air China-Cathay Pacific venture.
Mar 17 · 11:53:00 AM · Source: China Economic Review
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by Steve Wieczorek
U.S. Bancorp (USB)
The board of directors of U.S. Bancorp (NYSE: USB) has declared a quarterly dividend of $0.05 per common share, payable April 15, 2010, to shareholders of record at the close of business on March 31, 2010. At this quarterly dividend rate, the annual dividend is equivalent to $0.20 per common share.
Mar 17 · 11:13:00 AM · Source: Company Press Release
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by Larry Etter
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