Market News
Barnes Group Inc. (B)
The Board of Directors of Barnes Group Inc. (NYSE: B) has declared a quarterly cash dividend of 8 cents ($0.08) per share. The dividend will be payable December 10, 2009, to shareholders of record at the close of business on November 30, 2009.
Oct 22 · 12:38:00 PM · Source: Business Wire
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by Larry Etter
Dow Chemical (DOW)
Dow Chemical reported Q3 earnings per share of $0.63 on net income of $12.05 billion versus $0.46 per share on net income of $15.37 billion in the year ago period.
Andrew N. Liveris, Dow's chairman and chief executive officer, stated:
"Dow once again delivered stronger sequential earnings due to our focus on
aggressive price/volume management, accelerating cost reductions, especially
with the Rohm and Haas integration, plus benefiting from our global presence
with volume gains in emerging geographies. In addition, we are seeing pockets
of volume growth in certain businesses versus the prior quarter, primarily in
Advanced Materials, Performance Products and Performance Systems, which have
benefited from the beginnings of a global economic recovery. Consistent with
our focus on execution, immediately following the close of the quarter we also
accomplished a key objective by completing the sale of Morton Salt and fully
paying off our bridge loan related to the Rohm and Haas acquisition well ahead
of schedule, improving the Company's financial flexibility and further
deleveraging our balance sheet."
Oct 22 · 12:31:00 PM · Source: Press Release
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by Michael Oliveto
du Pont (DD)
Du Pont announced Q3 earnings of $0.45 per share on net income of $409 million versus earnings of $0.40 per share on net income of $367 in the year ago period.
The prior year included a $146 million after-tax hurricane-related charge. Net income reflects the benefit of significantly lower costs, partly offset by lower sales volume.
Oct 22 · 12:14:00 PM · Source: Press Release
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by Michael Oliveto
ConocoPhillips (COP)
ConocoPhillips has agreed to sell to Buckeye Partners, L.P. three refined-product storage and distribution terminals and two refined-product pipelines and associated storage tanks in the Chicago and St. Louis areas.
Terms of the transaction were not disclosed.
Oct 22 · 12:02:00 PM · Source: Reuters
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by Michael Oliveto
Bristol-Myers Squibb (BMY)
Bristol-Myers Squibb reported Q3 earnings of $0.52 per share on net income of $5.49 billion versus $0.45 per share on net income of $5.24 billion in the year ago period.
“The performance in the third quarter of 2009 clearly shows the results of our outstanding business performance, disciplined financial management and overall strategic execution,” said James M. Cornelius, chairman and chief executive officer.
Oct 22 · 11:37:00 AM · Source: Press Release
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by Michael Oliveto
Bank of New York Mellon (BK)
The Bank of New York Mellon Corporation and The Federal Customs Service of the Russian Federation announced the settlement of the litigation filed by the Customs Service against The Bank in the Moscow City Arbitration.
Proceedings in the Moscow City Arbitration court have now been terminated and both parties have concurrently reached an out-of-court settlement agreement. Under this agreement, without admission of liability, The Bank shall pay $14 million as compensation. The claim, which sought $22.5 billion, was brought by the Federal Customs Service of the Russian Federation in the Moscow City Arbitrazh Court in May 2007.
Oct 22 · 11:07:00 AM · Source: Reuters
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by Michael Oliveto
Bank of America (BAC)
Bank of America announced that it has signed a definitive agreement to sell First Republic Bank to a number of investors, led by First Republic's existing management, and including investment funds managed by Colony Capital, LLC and General Atlantic LLC.
The transaction is expected to close in the second quarter of 2010. Terms were not disclosed.
Oct 22 · 10:59:00 AM · Source: http://www.reuters.com/finance/stocks/keyDevelopme
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by Michael Oliveto
Boeing (BA)
Boeing Capital, a unit of The Boeing Company is planning to sell $1 billion in notes in a two-part sale.
The offering is expected to include five-year and 10-year notes. The joint lead managers on the sale are Credit Suisse, Goldman Sachs and JP Morgan.
Oct 22 · 10:56:00 AM · Source: Reuters
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by Michael Oliveto
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