Month: July 2011

Stock Analysts

Exxon Oil Leak in Yellowstone River (COP) (XOM)

July 5, 2011 0

An ExxonMobil Corporation ( XOM )-operated pipeline running into the Yellowstone River in south central Montana ruptured last Friday, spilling hundreds of barrels of crude oil into the river. The company has closed down the pipeline, which is linked to the Billings facility, and has isolated the affected segment. ExxonMobil estimated that as many as 1,000 barrels of crude spilled into the Yellowstone River from the 12-inch pipeline, which was operated by ExxonMobil Pipeline Company […]

Stock Analysts

Terreno on Acquisition Spree (FUR) (TRNO)

July 5, 2011 0

Terreno Realty Corporation ( TRNO ), a real estate investment trust (REIT), has recently acquired an industrial building each in Carlstadt, New Jersey, and Miami, Florida, for a combined purchase price of $11.7 million. Such continuous acquisition is part of the long-term strategy of the company to take up functional and flexible buildings in infill locations that can be modified to accommodate single and multiple tenants at discounts to replacement cost. The New Jersey property that spreads over 27,000 square feet of space is presently 100% leased to a single tenant. […]

Stock Analysts

NY Times Finds Buyers for Fenway (GS) (NYT)

July 5, 2011 0

The New York Times Company ( NYT ), one of the leading diversified media company has finally got buyers for its minority stake in the Fenway Sports Group. The newspaper publisher in a marathon sale process was looking for buyers since 2008 to give a boost to its declining revenue while managing its debt. Going with the news, New York Times sold 390 Class B units of Fenway Sports Group, which accounts for approximately 55.7% of its total stake in the company for a sum of $117.0 million. […]

Stock Analysts

Fresenius Completes IDC Buy (DVA) (FMS)

July 5, 2011 0

Fresenius Medical Care ( FMS ), the largest provider of dialysis products and services on the planet, has wrapped up its acquisition of Euromedic International’s (“Euromedic”) dialysis service division International Dialysis Centers (“IDC”) for €485 million (roughly $648 million). This follows the regulatory approvals of the deal (announced in January 2011) by the anti-trust authorities. […]

Stock Analysts

UPS Raises Freight Rate (FDX) (UPS)

July 5, 2011 0

United Parcel Services ( UPS ) has increased its freight rates by 6.9% on non-contractual shipments. The increase is effective August 1, in the U.S., Canada and Mexico. The company offers a variety of less-than-truckload (LTL) and truckload (TL) services to customers through its Freight segment, which remains a significant revenue contributor. […]

Mergers & Acquisitions

STMicroelectronics Expands Capabilities in Convergent Home Digital Networking and Smart Grid

July 5, 2011 0

STMicroelectronics Expands Capabilities in Convergent Home Digital Networking and Smart Grid Completes IP and talent acquisition from Arkados, strengthening ST’s position in powerline communications PR Newswire GENEVA, July 5, 2011 GENEVA , July 5, 2011 /PRNewswire/ — STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, is enhancing its powerline communication (PLC) capabilities with the completion of its acquisition of the semiconductor assets and intellectual property of Arkados. Arkados has been a leading player in the new industry initiative HomePlug, focused on accelerating the development and deployment of Convergent Digital Home Networking, and ST has been working closely with Arkados since late 2008 to develop best-in-class HomePlug wideband PLC solutions. Home networking via wideband PLC technology provides the key advantage of the ‘no-new-wire’ approach to users because high-speed home networks can be created by using the power sockets and wiring infrastructure that already exist in the home […]