UAL Corporation (UAUA), the parent company of United Airlines, has announced the issue of $810 million notes to pay off existing debt. The $810 million in pass-through securities raised consists of $697 million of Class A certificates with a coupon interest rate of 9.75% expiring in Jan. 2017 and $113 million of Class B certificates with an interest rate of 12.0% expiring in Jan. 2016. A pass-through security is a fixed-income certificate against certain mortgage-backed securities, generally aircraft. Of the total proceeds raised from the offering, $493 million will be used to pay off equipment trust certificates issued from 2000 to 2002, while the remaining of the funds will be used for general corporate purposes. J.P. Morgan (JPM), Morgan Stanley & Co. (MS), Goldman Sachs & Co. (GS) are acting as joint book-running managers for the issue. In addition to the drop-off in ...

Merge Healthcare Incorporated (MRGE) decided to raise up to $27.3 million in gross proceeds, before placement agency fees and other expenses, by offering 9,084,032 shares of the company’s common stock at a purchase price of $3.00 per share. The offer is only for select institutional investors and is expected to close on Nov. 18, 2009. Merge will use the proceeds primarily to prepay in full its senior secured notes held by Merrick RIS, L.L.C. due June 2010. The remaining amount will be used for general corporate purposes like the working capital financing. William Blair & Company, L.L.C. is the lead placement agent for the fund raising offer. Craig-Hallum Capital Group LLC and Robert W. Baird & Co. Incorporated are the co-placement agents for the offering. Merge is a healthcare software and services company focused on integrating radiology workflow to improve productivity, profitability and patient care ...

Canadian Pacific Railway Company, a wholly owned subsidiary of Canadian Pacific Railway Limited (CP), has announced a debt offering of $379 million. The debt offering carries a coupon interest rate of 6.45% and will expire in November 2039. The offering will result in net proceeds of $377 million, which will be used for general corporate purposes including payment of debt and pension fund obligations. The offering is being made in Canada under a shelf prospectus issued in June 2009 for up to $1.42 billion in medium-term notes. Debt issued during the second quarter of 2009 included $350 million 7.25% 10-year notes for net proceeds of $408.5 million. As of Sept. 30, 2009, the debt-to-capital ratio stood at 38.1%, fairly lower than targeted levels of 50.0%. However, interest coverage ratio at 3.2x was lower than the comfort levels of 4.0x. The interest coverage ratio has ...

Waste Management, Inc. (WM) announced that it has priced an underwritten public offering of $600 million aggregate principal amount of 6.125% senior notes due November 30, 2039. The company expects the notes to be assigned ratings of BBB by both Standard & Poor’s and Fitch and Baa3 by Moody’s. The offering is expected to close on November 17. The company said that the net proceeds from the offering will be used to fund certain equity investments and acquisitions and the remaining proceeds will be used for general corporate purposes and funding of other potential acquisitions and investments. In August, the company entered into an agreement to purchase a 40% percent equity investment in Shanghai Environment Group (SEG), a subsidiary of Shanghai Chengtou Holding, for approximately $140 million. As a joint venture partner in SEG, Waste Management will participate in the operation and management of waste-to-energy and ...

Wonder Auto Technology, Inc. closed on its recent offering of common stock and received $59.2 million in net proceeds. The company sold 6 million common shares at a price of $10.75, and may receive more proceeds if the underwriters exercise the overallotment option. The company plans on using the funds for general corporate purposes.

Wonder Auto Technology, Inc. also recently purchased Friend Birch Limited for $12 million. Friend Birch Limited is an automotive parts supplier that specializes in rods and shafts technology, and produces automotive mechanical springs and gas springs.

Wonder Auto Technology, Inc. is based in China and manufactures and sells automotive parts, including electrical parts, suspension products and engine accessories. Its most popular engine parts are alternators, starters, various suspension and engine related parts. Wonder Auto Technology, Inc. currently sells mostly to domestic Chinese auto manufacturers.

The Chinese auto industry has passed through the current recession with

...

Zimmer Holdings, Inc. (ZMH) recently decided to raise $1 billion by selling its senior unsecured notes in an underwritten public offering in two separate transactions. The transactions involve selling $500.0 million of 4.625% notes due 2019 and $500.0 million of 5.75% notes due 2039. The public offering is expected to close on Nov 17, 2009.   Zimmer has already filed an automatic shelf registration statement on Form S-3 with the Securities and Exchange Commission for the public offer. Citigroup Global Markets Inc., a division of Citigroup, Inc. (C); Banc of America Securities LLC, a division of Bank of America Corp. (BAC); and J.P. Morgan Securities Inc., a division of JPMorgan Chase & Co. (JPM) are the active joint book-running managers of the offering. The offer will be made to the public through the prospectus.   The 2019 notes yield 118 basis points above the Treasury ...

OGE Energy Corp.’s (OGE) midstream pipeline subsidiary, Enogex LLC, sold $250 million of 10-year senior notes with a coupon rate of 6.25%. The company intends to apply the net proceeds from the sale of the new notes for general corporate purposes, including repaying – at maturity – a portion of the $289.2 million outstanding aggregate principal amount of its 8.125% senior notes, which will mature on Jan 15, 2010. Enogex will temporarily use re-financed proceeds to repay borrowings under its credit facility, with any excess proceeds being temporarily invested.   OGE Energy ended the first nine months of fiscal 2009 with $1.9 billion of long-term debt from $2.2 billion at year-end fiscal 2008. On the liquidity front, the company had approximately $2.3 million of cash and cash equivalents, besides $825.9 million of net available liquidity under its revolving credit agreements.   OGE Energy planned capital expenditures of approximately ...

Ardea Biosciences Inc. (RDEA) reported third quarter net loss of $2.47 million, or 13 cents per share, which was significantly lower than the Zacks Consensus Estimate of 47 cents. The company reported a net loss of $14.2 million or 95 cents in the year-ago period. The lower loss was attributable to the higher revenues coupled with lower operating expenses recorded in the quarter.  Revenues came in at $9.17 million as against none in the year-ago quarter. The revenues resulted from the recognition of a portion of the upfront payment of $35 million under the global agreement, with Bayer HealthCare focused on the development of MEK inhibitors for the treatment of cancer.  Operating expenses for the quarter decreased 21.4% to $11.4 million primarily due to reduced research and clinical development expenditures. Research and development expenses decreased to $9 million from $11.5 million in the third quarter of ...

Yesterday, Triumph Group, Inc. (TGI) priced its previously announced offering of $175 million aggregate principal amount of senior subordinated notes due in 2017. The notes will have an interest rate of 8% per annum and are being issued at a price equal to 98.56% of their face value. The offering of the notes is expected to close on Nov 16, 2009.   The net proceeds from the offering is expected to be approximately $168.5 million after deducting the effects of original issue discount, initial purchaser discounts and estimated offering fees and expenses. The net proceeds from the issuance of the notes are to be used for general corporate purposes, which may include debt reduction, including the repayment of amounts outstanding under its revolving credit facility at a future date, without any permanent reduction of the commitments there under.   The notes will be issued and guaranteed on a senior ...

Dr Stock Pick HOT News & Alerts!

_______________________________________

FREE Daily Stock Alerts From DrStockPick.com

_______________________________________

Thursday November 5, 2009

DrStockPick.com Stock Report!

**************************************************************

Power3 Medical Products, Inc. (OTCBB: PWRM), a leader in neurodegenerative disease and cancer biomarkers and diagnostic tests, announces further international recognition of validity as the company’s President and CSO, Dr. Ira Goldknopf, will deliver an invited Keynote address and chair a session on “Biomarkers and Diagnostics in Personalized Medicine (Track 6-4),” at the BIT Life Sciences 2nd International Congress and Expo of Molecular Diagnostics in Beijing, China, November 19-21, 2009. The Theme of the meeting is “New Leadership of

...