Nucor sees Q3 EPS below consensus: NUE, WMGI
Nucor Corporation (NUE) 34.10 : Co sees Q3 EPS of $0.45-0.55 vs $0.66 Capital IQ Consensus Estimate. “As we expected, our profitability has deteriorated in Q3 compared to Q2 but continues well ahead of 2010 levels. The recent deterioration reflects lower steel prices and metal margins, particularly for sheet mill products, due to new domestic more »
Bank of America streamlines management and operations; BAC appointed David Darnell and Tom Montag to the newly-created positions of co-chief operating officers: BAC, ASBC
(BAC) 6.99 -0.26 : BAC CEO Brian Moynihan announced a reorganization of the co’s management that aligns the company’s operating units with its three core customer groups: individuals, companies, and institutional investors. Moynihan appointed David Darnell and Tom Montag to the newly-created positions of co-chief operating officers, accountable for all of the co’s operating units. This more »
Apache: TAG enters into farmout agreement with Apache Corporation on New Zealand Acreage in the East Coast Basin: APA, ETRM
Apache (APA)101.77 : Apache has agreed to conduct a multi-phased exploration, appraisal and potential development program within TAG’s East Coast Basin exploration permits. The permits comprise in excess of one million prospective acres of onshore oil and gas opportunities. TAG currently holds a 100% working interest in the properties. Co has agreed to pay for more »
Silvercorp Metals notes large short position: SVM, HAL
Silvercorp Metals (SVM) 8.41 : Co announced that there has been a dramatic increase in the short position of its shares over the past two months which is now ~ 23 mln shares. Late yesterday afternoon, the co was forwarded a copy of an anonymous letter dated August 29, 2011 addressed to the Ontario Securities more »
Cardium Therapeutics reported that it has planed to reestablish compliance: CXM
Cardium Therapeutics Inc. (AMEX: CXM) $0.20 +3.65% reported that it had submitted a modified compliance plan designed to reestablish compliance with its exchange listing requirements in view of ongoing plans related to the acquisition of a nutraceutical business designed to expand the Company’s MedPodium product line. In a related matter, the Company announced the incorporation more »
QEP Resources announced new $1.5 billion revolving credit facility: QEP, SCVL
QEP Resources (NYSE: QEP) $33.38 -1.49 announced that it has entered into a new $1.5 billion, 5-year, unsecured revolving credit agreement with a group of 19 financial institutions. The credit facility replaces the $1.0 billion credit facility that was scheduled to mature in March of 2013. The new credit facility provides for borrowings at short-term more »
Bank of America hitting a 52 week low with increased volume: BAC
Bank of America (NYSE: BAC) hit a 52 week low today, settling at $8.83 a share with a volume of almost 305 million shares. This is no surprise as the company has been struggling to keep its balance sheet in order after completing major purchases such as Countrywide and Merril Lynch. Bank of America was more »
Lorillard is announcing its pricing of a $750 million debt offering: LO, FMC
Lorillard (NYSE: LO) $104.87 -1.27% announced that it has priced an underwritten public offering of an aggregate principal amount of $500 mln 3.50% senior notes due 2016 and $250 million 7.00% senior notes due 2041 through its main operating subsidiary, Lorillard Tobacco, and guaranteed by Lorillard. Lorillard expects to close the sale of the notes on more »
Research In Motion says purported class action lawsuit is without merit: RIMM
Research In Motion (NASDAQ:RIMM) confirmed it intends to vigorously defend against a purported class action lawsuit filed against the Company and certain of its officers in the United States District Court for the Southern District of New York. The lawsuit alleges that during the period from December 16, 2010 through April 28, 2011, the Company more »
American International and the US Department of the Treasury complete offering of AIG common stocks: AIG
American International Group (NYSE:AIG) announced the completion of a registered public offering of 300 mln shares of AIG common stock, par value $2.50 per share, by AIG and the U.S. Department of the Treasury, as the selling shareholder. One hundred mln shares were issued and sold by AIG and 200 mln shares were sold by Treasury. Treasury has more »