Month: September 2011

Norway-based Statoil ASA ( STO ) received consent from The Ministry of Petroleum and Energy for the development and operation (PDO) of Stjerne and Vigdis North-East fields. Statoil, along with other licensees, is expected to invest around 5.3 billion Norwegian crowns ($948 million) for the development of a small oil and gas field in the North Sea. […]

We are downgrading our recommendation on DFC Global Corp. ( DLLR ) to Neutral from Outperform as the company remains apprehensive about its high operating expenses and tightened lending. The company also faces risks related to decline in cash checking revenues, insufficiency of cash flows against debt obligations and its increase d international dependence. […]

Coal miner Patriot Coal Corporation ( PCX ), on Friday, said geological issues at its two longwall mines and the closure of a thermal mine are likely to affect production in the third quarter. Highlighting the problems faced at its mines the company tweaked its third quarter production projection, expecting to lose about 450,000 tons. Patriot said longwall moves at both the Federal and Panther mines, which were scheduled to take place in the third quarter, were delayed causing production declines. […]

On Friday, Humana Inc. ( HUM ) announced the expansion of its RightSource mail and specialty drug business by hiring 200 new employees at a new office complex in Ohio by spring 2012. Besides, the company will also shift 450 existing employees of RightSource to the new location by December 2012. […]

Cancer treatment systems maker BSD Medical Corp . ( BSDM ) reported that its MicroThermX Microwave Ablation System (“MicroThermX”) was showcased at the international meet of the Cardiovascular and Interventional Radiological Society of Europe (“CIRSE”). […]

International orthopedic devices company Wright Medical Group ( WMGI ) recently reported that it is exercising a cost restructuring initiative to improve profitability, promote growth and strengthen cash flow, leading to enhanced shareholder value. The company believes that the early phase of this project will be concluded over the upcoming 9 months to be followed by more efficiency drives from 2012 onwards. According to Wright Medical Group, the restructuring initiative will lead to a more cost efficient enterprise, which will boost earnings in 2012 […]

Following the second quarter earnings miss, we have downgraded Canada’s biggest energy firm and the largest oil sands outfit Suncor Energy Inc. ( SU ) t o Neutral from Outperform. […]