Market News
CIT Group (CIT)
CIT Group Inc. said today it has expanded its current $3 billion senior secured credit facility by an additional $4.5 billion. The new $4.5 billion tranche, which is being provided by a diverse group of lenders, including many of the Company’s bondholders, will be secured by substantially the same assets as the existing $3 billion tranche and any additional collateral that becomes available as a result of the Company’s refinancing of certain existing secured credit facilities.
This financing should head off more threats of bankruptcy.
Oct 28 · 3:57:00 PM · Source: Company News Release
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by Larry Etter
US Airways (LCC)
US Airways Group said Wednesday it would cut its staff by 1,000, or 3 percent, and shift its operations to focus on four key cities and its
shuttle service, . The carrier said it would concentrate on its "core network strengths," which are its hubs in Charlotte, Philadelphia and
Phoenix, as well as Washington D.C. and its shuttle between New
York, Boston and Washington.
The company feels the move will return the airline to profitability
Oct 28 · 3:48:00 PM · Source: Company News Release
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by Larry Etter
ConocoPhillips (COP)
ConocoPhillips announced a quarterly dividend of $0.50 per share, an increase of 6% in the dividend rate for the Company's common stock.
Oct 28 · 2:18:00 PM · Source: Reuters
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by Michael Oliveto
Comcast (CMCSA)
Comcast today announced it is launching next-generation DOCSIS
3.0 and making the leap from broadband to wideband in several areas of
California, including Fresno, Merced, Modesto, Stockton, Tracy, Tulare, Visalia, as well as Santa Barbara County.
Comcast now offers some of the fastest speeds available today in Central California, including the Extreme 50 tier with download speeds of up to 50 Mbps. Wideband also enables Comcast to
double speeds for the majority of existing high-speed Internet customers.
Oct 28 · 2:11:00 PM · Source: Reuters
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by Michael Oliveto
Public Service Enterprise (PEG)
Power producer Public Service Enterprise Group reported third-quarter earnings from continuing operations was $488 million, or 96 cents a share, compared with net income of $476 million, or 94 cents per share, a year earlier.
Oct 28 · 1:39:00 PM · Source: Company News Releaseq
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by Larry Etter
Owens Corning Inc (OC)
Owen Corning today reported third quarter earnings of $80 million, or 63 cents a share, compared with a loss of $807 million, or $6.35 a share in the year-ago period. Third quarter consolidated net sales of $1.3 billion during the third quarter of 2009, compared with $1.6 billion in the third quarter of 2008.
Results Beat Street estimates.
Oct 28 · 1:33:00 PM · Source: Company News Release
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by Larry Etter
BorgWarner Inc. (BWA)
BorgWarner today reported third quarter net income was $17.2 million, or $0.15 per diluted share, compared with a loss of $130.4 million, or $(1.12) per diluted share, in third quarter 2008. For the third quarter 2009, sales were $1,027.8 million, down 22.0% compared with $1,316.9 million in the third quarter 2008.
Company's CEO said firm continues to be cautiously optimistic about the fourth quarter.
Oct 28 · 1:28:00 PM · Source: Company News Release
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by Larry Etter
Burlington Northern Santa Fe (BNI)
Burlington Northern Santa Fe Corporation announced a quarterly dividend of 40 cents per share on outstanding common stock.
Dividends on common stock will be paid January 4, 2010, to shareholders of record December 14, 2009.
Oct 28 · 12:56:00 PM · Source: Pr-USA.net
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by Michael Oliveto
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