Month: November 2011

Leading global manufacturer of solar products, ReneSola Ltd. ( SOL ), revised its guidance for the third quarter of 2011. […]

A group of investors have accused Morgan Stanley ( MS ) of selling flawed mortgage bonds by misleading investors, the company said on Monday. The aggregate outstanding balance of the bonds underwritten by Morgan Stanley was more than $6 billion. Morgan Stanley allegedly underwrote a large number of residential mortgage-backed securities issued by trusts based on fake information. […]

On Monday, Western Union Co. ( WU ), the world’s largest money-transfer company, announced the completion of acquisition of London-based Travelex Global Business Payments for approximately $973.8 million. Travelex provides business payments services for 35,000 customers annually, which primarily includes small and medium-size companies (SME) and distribution partners. […]

Accenture plc ( ACN ) recently won a 7-year information technology (IT) application servicing deal from the United Kingdom Department for Work and Pensions (DWP). The deal value could be €50 million to €70 million per year, depending on Departmental demand for IT services. Per the terms of the deal, Accenture will offer its technology and services to develop, maintain and support a variety of the DWP’s customer-oriented operations. […]

In September, the country gained a net of 158,000 jobs, and in August we gained 104,000. However, that is a very small fraction of the total number of jobs that were actually created. It subtracts out the number of jobs that were also destroyed in the month. […]

Sara Lee Corporation ( SLE ) moved ahead with its policy of streamlining its portfolios as it announced the completion of its sale of North American Bakery Business to Grupo Bimbo SAB, considered as the world’s largest bread maker. Sara Lee is transferring its business to Bimbo for $709 million. The transaction, which includes the right to the Sara Lee brand for bakery goods in the U.S […]

Q3 2011 Financial Results: DPP Products Driving Revenue Brian Marckx, CFA Chembio Diagnostics ( CEMI ) reported financial results for the third quarter ending September 30, 2011 on November 3rd. Revenue of $5.92 million crushed our $4.61 million estimate, the ~ $1.3 million difference split fairly equally between better than anticipated international sales of the lateral flow products and much stronger than estimated DPP product sales to FIOCRUZ. Q3 revenue was a record high for Chembio, surpassing their previous best quarterly sales of $5.67 million which came in Q4 2010 […]

Yesterday, American Capital Ltd. ( ACAS ) has announced an investment of $10 million in order to support RBC Capital Markets Corp.’s syndication of $75 million Second Lien Term Loan financing. […]

According to a recent report from news agency Reuters, smartphone makers Apple Inc. ( AAPL ) and Samsung are facing strict scrutiny from the European Union’s (EU) anti-trust department. EU regulators are currently investigating whether the smartphone makers have violated anti-trust laws. […]