|
Vol. 7 / No. 182 / July 2, 2009
|
July 2, 2009 (FinancialWire) — American Commercial Lines Inc.’s (NASDAQ: ACLI) Commercial Barge Line Co. subsidiary has priced an issuance of $200 million of 12 1/2% senior secured second lien notes due July 15, 2017.
The notes are scheduled to be issued on July 7, 2009, simultaneously with the closing of a new four year $350 million senior secured first lien asset-based revolving credit facility by CBLC, ACL and certain other direct wholly owned subsidiaries of CBLC.
[...continued]
July 2, 2009 (FinancialWire) — Universal Display Corp. (NASDAQ: PANL) has been awarded a $750,000 contract from the United States Air Force Research Laboratory to help design a flexible display as a replacement for printed maps and checklists typically held by Air Force pilots on their knees in tactical cockpits.
The company will work on a program that will focus on the development of a non-glass, ejection-safe, flexible OLED display prototype for prospective use by pilots in tactical cockpit settings.
[...continued]
July 2, 2009 (FinancialWire) — Jamba, Inc. (NASDAQ: JMBA) (Current Market Cap: $67.27 Mil.) has sold nine restaurants as part of an ongoing refranchising program expected to involve about 150 company-owned restaurant locations primarily outside of California.
The company completed the sale of nine restaurants in Oregon to The Cinnamon Bums, Inc., an existing Jamba Juice franchisee currently operating nine other Jamba Juice restaurants in the Northwest region.
[...continued]
July 2, 2009 (FinancialWire) (By Frank Kollar) — Shares of Intel Corp (NASDAQ: INTC) have broken out above the $16.75 level which has held prices in check since April, 2009. How high can Intel go in this run?
Wednesday’ breakout will continue to initial resistance at $18.42 in coming days. If Intel can make a decisive close above $18.42 the run can easily reach $19.91, some 17% higher than current levels.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Intel Corp.
[...continued]
July 2, 2009 (FinancialWire) — Arca biopharma, Inc. (NASDAQ: ABIO) (Current Market Cap: $23.77 Mil.) said that current CEO Richard B. Brewer will assume the role of chairman and resign as chief executive officer. Michael R. Bristow, will become president and CEO, a position he previously held with Arca prior to Brewer joining the company.
Bristow will resign as chairman but will remain a member of the company’s board. The moves follow recent change in the company’s commercial strategy to seek alternatives for the potential commercialization of its drug heart drug, Gencaro.
[...continued]
July 2, 2009 (FinancialWire) — Medialink Worldwide Inc. (NASDAQ: MDLK) (Current Market Cap: $1.41 Mil.) a provider of media services, has agreed to be acquired by The NewsMarket, Inc. for $0.20 per share in cash.
The price is consistent with the last trading price of Medialink’s common stock on June 30, and represents a premium of 100% from the last trading price of Medialink’s common stock on May 27, the date the parties signed a non-binding letter of intent, according to Medialink.
[...continued]
July 2, 2009 (FinancialWire) — Rollins, Inc. (NYSE: ROL) said it repurchased 700,400 shares of its $1 par value common stock at a weighted average price of $16.90 per share during the second quarter. The company has repurchased a total of 1,303,800 shares year-to-date.
In total, 3,324,991 additional shares may be purchased under Rollins share repurchase program.
[...continued]
July 2, 2009 (FinancialWire) (Investrend Research Syndicate) — ValuEngine, Inc. (http://www.valuengine.com) upgraded Gazprom Oao (OTC: OGZPY) and Sunoco Logistics Partners Lp (NYSE: SXL) to a “5″ rating, the service’s highest.
The ValuEngine Rating is an overall assessment of a stock’s attractiveness. It combines the following five factors: ValuEngine’s proprietary valuation, risk-return tradeoff, momentum, market capitalization and ValuEngine’s proprietary forecasted one-month return.
[...continued]
FirstAlert[tm] 7/2: How To Keep’em Up On The Nonfarm
The Dow Jones industrial average gained 57.06 points on the trading day, for a 8,504.06 close. The Standard & Poor’s 500-stock index closed at 923.33, up 4.01 points, while the Nasdaq composite index rose 10.68 points, to 1,845.72.
The June U.S. ISM index was up to 44.8 after hitting 42.8 the previous month. It bottomed at 32.9 last December. Analysts like to see it above 50, but the steady gains signal that the recession might be slowing. U.S. construction spending, however, reached its lowest level in five year, falling by 0.9% in May after gaining 0.6% in April.
Some investors cheered data showing a 0.1% rise in U.S. pending home sales in May, the fourth increase in as many months. Naysayers point out that pending sales aren’t closed sales.
Things are clearer with employment figures: they’re lousy and getting worse, according to ADP figures. In June, U.S. private payrolls lost 473,000 - a slightly smaller drop compared with May. The Monster Employment Index was also down in June, by 1%.
As for car sales, 2009 is still shaping up to be the worst year in four decades.
[...continued]