Market News

US Airways (LCC)

US Airways said Tuesday it has completed a series of transactions with key business partners designed to improve its near-term and future liquidity. The Company will significantly reduce capital expenditures over the next three years, eliminate the need to access aircraft finance markets in 2010 and extend certain debt maturities. These transactions improve projected year-end 2009 liquidity by approximately $150 million and generate, in aggregate, approximately $450 million of projected liquidity improvements by the end of 2010.
The plans include deferral of 54 aircraft deliveries until at least 2013.

Nov 24 · 12:22:00 PM · Source: Company News Release
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by Larry Etter

Caterpillar (CAT)

Caterpillar and the law firm of Schlichter, Bogard & Denton announced that they have reached a tentative settlement of Martin, et al. v. Caterpillar Inc., et al.
The case involves a dispute over the administration of four 401(k) plans for Caterpillar employees and retirees. Under the tentative settlement, which must be approved by an independent fiduciary and the judge, Caterpillar will pay $16.5 million.

Nov 14 · 4:33:00 PM · Source: Reuters
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by Michael Oliveto

Burlington Northern Santa Fe (BNI)

The Shareholders Foundation Inc. announced that a lawsuit has been filed in Texas State Court on behalf of investors in Burlington Northern Santa Fe Corporation over alleged breaches of fiduciary duty in connection with an alleged unfair takeover by Berkshire Hathaway Inc.
The complaint alleges, among other things, that the defendants engaged in secret negotiations and the board of Burlington Northern agreed to coercive deal lock-up provisions by agreeing to a matching right, a no-solicitation provision and a termination fee of $264 million.

Nov 14 · 4:11:00 PM · Source: Reuters
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by Michael Oliveto

Boeing (BA)

The law firm of Izard Nobel LLP announced that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of Illinois on behalf of those who purchased the common stock of The Boeing Company between May 4, 2009 and June 22, 2009 (Class Period).
The Complaint charges that Boeing and certain of its officers and Directors violated the federal securities laws. Specifically, defendants made misleading statements in effort to: (i) forestall further cancellations of orders for the Dreamliner 787, Boeing's principal commercial airplane, particularly as the orders for its competition, Airbus A380, were gaining ground; (ii) conceal that the 787 had a structural problem in its design that would prevent the first flight of the 787 by June 30, 2009, and delivery in the first quarter of 2010; and (iii) enable Boeing to make a positive presentation concerning the test results for the 787 and the schedule for the first flight and delivery of the 787 at the Paris Airshow, scheduled for June 15-18, 2009, at which Boeing hoped to receive additional orders for the 787.

Nov 14 · 3:52:00 PM · Source: Reuters
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by Michael Oliveto

Boeing (BA)

Boeing has been awarded a $72 million U.S. Air Force contract for more than 2,900 Joint Direct Attack Munition (JDAM) tail kits.
Boeing will deliver the kits in 2011 and 2012. The Lot 14 production order is the second one-year option of a six-year contract Boeing received in January 2008.

Nov 14 · 3:50:00 PM · Source: Chicago Press Release
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by Michael Oliveto

Boeing (BA)

Boeing towed the first 747-8 Freighter out of the factory in Everett, Washington.
The 747-8 Freighter is the new high-capacity 747 that will give cargo operators the lowest operating costs and best economics of any freighter airplane while providing enhanced environmental performance.

Nov 14 · 3:48:00 PM · Source: CNN
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by Michael Oliveto

Media Sciences International Inc. (MSII)

Media Sciences International, independent manufacturer of color toner cartridges and solid inks for use in color business printers, Friday said it posted a fiscal first quarter loss of $259,000, or $0.02 per share, versus net income of $477,000, or $0.04 per share, in the year-ago quarter, which included a non-recurring $1,500,000 litigation settlement recovery. Net revenues were $5,507,000, a $245,000 or 4% decrease year-over-year and an $118,000 or 2% decrease over the prior quarter. Gross margin at 38.7% of net revenues, versus 45.6% for the same period last year.

Nov 13 · 11:50:00 AM · Source: Company News
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by Larry Etter

Suntech Power Holdings (STP)

Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's leading manufacturer of crystalline silicon photovoltaic (PV) modules, Friay said it expects to develop approximately 20% of the 91MW of solar projects that were approved under China's Solar Rooftop Program.

Nov 13 · 11:38:00 AM · Source: Company News Release
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by Larry Etter

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