Month: September 2011

Brazilian sugar and ethanol producer Cosan Limited ( CZZ ) recently received its Board of Directors’ approval for the renewal of its share buyback program. Pursuant to the approval, Cosan can buyback shares to be held in treasury for future sale or cancellation to the amount of $100 million from July 4, 2011 to July 4, 2012. Cosan is the largest sugar and ethanol producer in Brazil and ranks third in sugar and fifth in ethanol production in the world. […]

S teel giant ArcelorMittal ( MT ) announced that it will halt melting at its Schifflange works in Luxembourg and reduce output on several of its long products rolling lines, and at its nearby Rodange facility due to weak demand in Europe. Up to 450 people could be affected by these drastic measures. The company stated that this is a temporary step and the decision will be re-evaluated at the end of 2011. […]

Bemis Company Inc. ( BMS ) has priced its public offer of $400 million of 4.5% senior notes due 2021. Bemis Company intends to use the net proceeds to repay $300 mi llion worth of 4.875% notes due 2012 as well as for general corporate purposes. […]

We reiterate our Neutral recommendation on International Paper Co. ( IP ), which is a global paper and packaging company with operations in North America, Europe, Latin America and Asia. […]

PPG Industries Inc . ( PPG ) announced a new agreement with Universal Display Corp. of Ewing, NJ, to supply organic light-emitting diode (OLED) materials and provide services in response to the growing market place […]

Noble Corporation ( NE ) announced changes in its drilling program for three deepwater rigs — Ensco 5006, Transocean Sedco Express and Homer Ferrington. The company has all three rigs under contract in the offshore Eastern Mediterranean. Ensco 5006, previously known as Pride North America and owned by Ensco Plc ( ESV ), is employed in Leviathan 3. […]

Cognizant ( CTSH ) recently announced that the company acquired substantially all of the assets of Princeton, N.J.-based Zaffera, LLC, a strategic SAP retail consulting and software development firm. The financial terms of the deal were not disclosed. […]

Citi Trends Inc. ( CTRN ), in its streak to optimize its financial performance, recently announced string of measures to boost its growth prospects by dipping investment in sections of the company that no longer contributes significantly to its growth. As the quarterly loss per share in second-quarter 2011 widens 17 folds to 69 cents compared with the prior-period loss of 4 cents, the company has decided to slash 40 jobs at its stores, distribution centers and corporate office. […]

Defense contractor Lockheed Martin Corporation ( LMT ) has completed its acquisition of QTC Holdings Inc. The acquisition was originally announced on August 22, 2011. Terms of the transaction however were not disclosed. […]

General Dynamics Bath Iron Works, a subsidiary of General Dynamics Corporation ( GD ), has received a $680 million contract from the U.S. Navy for the construction of DDG 115. […]