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ConocoPhillips (COP)
ConocoPhillips to Cut 2010 Capital Expenditures
ConocoPhillips says it will spend $11.2 billion on capital projects in 2010, a 10 per cent drop from estimated 2009 spending.
The nation's third-largest oil company previously said it would cut capital expenditures and sell off assets to help pay off debt and improve its cash position amid sagging profits.
Feb 16 · 2:52:00 PM · Source: News 1130
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by Michael Oliveto
Qwest Communications (Q)
Qwest Q4 Net Income Down 39%
Qwest today reported fourth quarter net income of $108 million, or 6 cents a share. compared with $177 million, or 10 cents a share, a year earlier. Revenue fell 9.7% to $2.99 billion.
Including an expense adjustment, Qwest met Wall Street's forecasts. Qw
Feb 16 · 11:44:00 AM · Source: Company Press Release
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by Larry Etter
Qwest Communications (Q)
Qwest Q4 Net Income Down 39%
Qwest today reported fourth quarter net income of $108 million, or 6 cents a share. compared with $177 million, or 10 cents a share, a year earlier. Revenue fell 9.7% to $2.99 billion.
Including an expense adjustment, Qwest met Wall Street's forecasts. Qw
Feb 16 · 11:43:00 AM · Source: Company Press Release
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by Larry Etter
Simon Property Group (SPG)
Simon Makes $10 Billion Offer for General Growth
Simon Property Group Inc. Tuesday said it has made an offer to acquire General Growth Properties Inc., the real estate investment trust that filed for bankruptcy last year, in a deal valued at over $10 billion, including about $9 billion in cash. The offer includes a consideration to creditors totaling some $7 billion,
Feb 16 · 11:39:00 AM · Source: Company Press Release
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by Larry Etter
Microsoft (MSFT)
Microsoft Unveils Windows Phone 7 Series
Microsoft has introduced its latest version of its ‘Windows phone operating system’, adding video-games and music features. Microsoft wants to change things around with the inclusion of the phone features in its operating system.
This is a bid to avoid Apple and Google eating into its market share; Microsoft wants to stem its losses in smartphone category and wants to give customers a whole new meaning to the smartphone category.
Feb 16 · 11:14:00 AM · Source: Company Press Release
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by Larry Etter
Intel (INTC)
Intel, Nokia Merge Software Platforms
Intel Corporation and Nokia said today they are merging their popular Moblin and Maemo software platforms, creating a unified Linux-based platform that will run on multiple hardware platforms across a wide range of computing devices, including pocketable mobile computers, netbooks, tablets, mediaphones, connected TVs and in-vehicle infotainment systems.
The companies believe the open software platform will accelerate industry innovation and time-to-market for a wealth of new Internet-based applications and services.
Feb 16 · 11:09:00 AM · Source: Company Press Release
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by Larry Etter
Geokinetics (GOK)
Geokinetics Completes Acquisition of PGS
Geokinetics announced today that it has completed its acquisition of Petroleum Geo-Services' ("PGS") onshore seismic data acquisition and multi-client data library business ("PGS Onshore").
"The combination of PGS Onshore and Geokinetics solidifies our position as the clear leader in the onshore seismic data acquisition business," said Richard F. Miles, President and Chief Executive Officer of Geokinetics. "It not only brings together two strong complementary seismic data acquisition operations, but it also accelerates our strategic initiatives in the multi-client library
business."
Feb 15 · 7:24:00 PM · Source: Reuters
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by Michael Oliveto
Glatfelter (GLT)
Glatfelter Completes Acquisition of Concert Indust
Glatfelter announced today that it has completed its previously announced acquisition of Concert Industries Corp. from Brookfield Special Situations Management Limited, an affiliate of Brookfield Asset Management for $235 million subject to a post-closing working capital adjustment.
Glatfelter financed the acquisition through a combination of cash on hand, proceeds from the 7 1/8% unsecured senior notes issued on February 5, 2010 and borrowings under its existing revolving credit agreement.
Glatfelter will operate Concert as a third business unit along with its Specialty Papers and Composite Fibers business units.
Feb 15 · 7:21:00 PM · Source: Environmental Expert · Related: Brookfield Asset Management Inc
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by Michael Oliveto
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