Month: August 2011

Prologis Inc. ( PLD ) – the erstwhile AMB Property Corp., has recently sold a portfolio of 13 industrial properties across the U.S. as part of its strategy to divest non-core assets […]

The world's largest construction and mining machinery maker Caterpillar Inc. ( CAT ) announced that it will build a proving ground and a large wheel loader manufacturing facility in the city in Tongzhou, Jiangsu province. […]

Statoil ASA ( STO ) has made another trivial hydrocarbon discovery, making it the third one near the prospective Gullfaks South area in the North Sea, following the earlier Rutil and Opal finds. The Norwegian oil and gas company completed exploration wells – 34/10-52 A and B – in its production license 50 in the neighborhood of its Gullfaks South field in the North Sea off Norway. Semi-submersible Deepsea Atlantic drilled the wells that were proposed to prove oil in Middle Jurassic reservoir rocks of the Brent group and were also intended to elucidate communication with the producing Gullfaks South structures […]

Virginia-based Computer Sciences Corp. ( CSC ) announced that it has reached a settlement with the federal government on a contract dispute. […]

Normally, to find super-cheap stocks you have to look around the fringes of the market to small, obscure, overlooked companies. Not so today, when many of the giants are on the deep discount rack. […]

United Therapeutics Corporation ( UTHR ) received a major setback with a late stage study (FREEDOM-C2) of its pipeline candidate oral treprostinilnot meeting the primary endpoint, sending its share price down. FREEDOM-C2 was combination therapy study, which was examining oral treprostinil in combination with PDE-5 inhibitors or endothelin receptor agonists. […]

We maintain our Neutral recommendation on Kinross Gold Corporation ( KGC ), primarily involved in the exploration and operation of gold mines. Kinross reported record adjusted earnings per share of $0.20 for the second quarter of 2011, outpacing the Zacks Consensus Estimate of $0.16. […]

The U.K. and Switzerland have reached an agreement related to tax evasion by the U.K. citizens through undeclared Swiss accounts […]

In an effort to reshape legislation in its favor, Hartford-based health insurer Aetna Inc. ( AET ) lobbied the federal government on health care reform and spent $902,452 in advocacy costs during the second quarter of 2011. Aetna’s lobbying expenses in the reported quarter was down 42% year over year and 17% sequentially […]

Bank of America Corporation ( BAC ) has yet again been sued by Western and Southern Life Insurance Co. for $63 million losses incurred by the latter owing to BofA’s alleged role in misrepresenting mortgage-backed securities (MBS) that it sold to the insurer. Earlier in April, Western and Southern Life had sued BofA and claimed $225 million on MBS, which were sold to the insurer by Countrywide Financial Corp […]

Initial Claims for Unemployment Insurance rose by 5,000 last week to 417,000. This was worse than the expected level of 400,000. Worse, last week’s numbers were revised upwards by 4,000, so one could see it as a increase of 9,000. […]

Diagno stic test kits maker Meridi an Bioscience ( VIVO ) has established a new direct distribution network in Australia through its fully-owned subsidiary Bioline Australia. Under the new arrangement, the company’s diagnostic pro ducts will be sold in that country through its direct sales force. Meridian noted that it is switching the sales model for these products from distributors-based to direct sales through Bioline Australia. […]