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Friday November 6, 2009

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Consorteum Holdings Inc. (OTCBB: CSRH) announced that it has proceeded to launch its consumer stored value rebate card. The consumer rebate card program will offer manufacturers and retailers a new way to process mail-in rebates that ensures increased customer loyalty and decreased overhead costs. Consorteum will work directly with manufactures and retailers to reduce the administration costs associated with mail-in rebate programs while providing a new way to increase consumer awareness. Additional revenue and cost-saving opportunities will be available

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Loews Corporation’s (L) third quarter income from continuing operations came in at $1.08 per share compared to a loss of 33 cents in the year-ago quarter. Results primarily reflected a 26% year-over-year increase in revenues. The improved results were driven by increased investment income and a considerable reduction in investment losses at CNA Financial Corporation (CNA) and strong results at Diamond Offshore Drilling Inc. (DO). Also, the results reflect a strong rebound in investment income, primarily from improved limited partnership results. CNA Financial Corporation’s operating income increased to $304 million from $76 million in the prior-year period. Diamond Offshore experienced a strong quarter with $170 million of earnings, up 17% year-over-year. However, Boardwalk Pipeline Partners, LP’s (BWP) earnings decreased to $9 million from $31 million in the year-ago period. Reported earnings for the quarter were significantly reduced due to the shutting down ...

Recently, the European Union (EU) approved the proposed $41.1 billion merger between Schering-Plough (SGP) and Merck & Co. (MRK). The deal is awaiting approval from the U.S. Federal Trade Commission. The transaction is expected to close in the fourth quarter of this year. While approving the merger, the EU clarified that the tie-up will not hinder effective competition significantly in Europe, even though both participants in the merger operate in the field of prescription pharmaceuticals. While checking for overlaps in Europe, particularly in the fields of asthma and allergic rhinitis, the European body did not find the products to be close competitors. Consequently, the merger would not be considered to hog the market and choke other companies. As a reminder, Merck filed for EU approval last month after the completion of the sale of its 50% interest in animal health company Merial Limited (Merial) to ...

This morning, Laboratory Corporation of America Holdings (LH) reported strong third quarter financials. The company’s earnings per share of $1.22 surpassed the Zacks Consensus Estimate of $1.15 as well as the $1.10 reported in the year-ago period. Revenues recorded a 4.4% year-over-year increase to $1.2 billion, driven by a 0.7% increase in testing volume (measured by accessions) and a 3.7% increase in revenue per accession. Lab Corp’s gross margin reported an improvement of 137 basis points during the reported quarter. While revenues increased 4.4%, cost of goods sold grew by 2%. The company recorded an improvement in operating margin (excluding restructuring and other special charges) by 60 basis points to 20% compared to 19.4% in the year-ago period. At the end of the September quarter, Lab Corp had $126.8 million of cash and short-term investments, down from $219.7 million at the end of December 2008. Free ...

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Wednesday October 21, 2009

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Consorteum Holdings Inc. (OTCBB: CSRH) announced that it has signed a Letter of Intent with Tactical Connections Inc. to provide various financial services to major tier one US, Canadian and European manufacturing and retail industries.

ServiceLink , a leading provider of mortgage origination and default services nationwide and the national mortgage lender platform for the Fidelity National Financial family of companies (NYSE: FNF), announced today that Jane Johnson has been appointed Senior Vice President of Loss Mitigation Services.

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Today it was announced that Clenergen Corporation India Private Limited, a wholly owned subsidiary of Clenergen Corporation, has agreed on the terms to acquire a 1.5MW/Hr biomass power plant in Namakkal, Tamilnadu, which will be operational by yearend 2009.

Recognized as one of India’s National Demonstration Projects, the plant was shut down in 2007 due to operational cash flow constraints and its inability to remain profitable at a low tariff rate. However, under a Power Purchase Agreement between Power Trading Corporation of India Limited (PTC) and Clenergen India Private Limited, a higher tariff rate has now been agreed.

The unit is expected to generate net revenue of approximately US$1 million in its first year of operation. During the first phase of its operations in India, Clenergen will ramp up the capacity of this power plant to 10MW/Hr while installing two new biomass

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GMX Resources Inc. (GMXR) recently agreed to sell a 40% interest in its gas gathering and compression business to Kinder Morgan Energy Partners L.P. (KMP) for $36 million. The closing of the transaction is subject to customary closing conditions and is expected to conclude in early November. This transaction will fund GMX’s addition of a second rig to the Haynesville/Bossier Shale horizontal drilling program. The salt water disposal assets and other poly pipelines will not be part of the transaction and will continue to be wholly owned by Endeavor Pipeline Inc., a wholly owned subsidiary of GMX Resources. The gas gathering and compression business provides gathering services to the company in its Cotton Valley Sands and Haynesville/Bossier Shale horizontal developments in East Texas. It will provide funding for future infrastructure needs to support GMX's anticipated production growth. Separately, GMX said its second FlexRig 3 ...

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Friday October 16, 2009

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IntriCon Corporation (NASDAQ: IIN), a designer, developer, manufacturer and distributor of body-worn medical and electronics devices, today announced that it will release its 2009 third-quarter results on Wednesday, October 28, 2009, at 3:00 p.m. CT.

Wilhelmina International, Inc. (OTC Bulletin Board: WHLM) announced today that multi-platinum recording artist, Fergie, has partnered with Avon Products, Inc., one of the world’s leading global beauty companies. Fergie is represented by Wilhelmina Artist Management in the fashion and beauty categories, including fragrances and

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CDC Software Corp (CDCS), a wholly owned subsidiary of CDC Corp. (CHINA) said that it expects a decline in its license revenue. The company expects software license revenue to fall in the range of $7.4 – $7.6 million in the third quarter of 2009. The mid-point of the range is a decline of 37% from the year-ago period and 4% from the previous quarter.  We believe this fall is mainly due to the declining business activity the company felt during this economic downturn, which had a negative impact on the overall enterprise software industry.  Despite the sequential and year-over-year decline in license revenue, the overall revenue estimates are in line with the First Call Consensus estimates of $7.4 million. The company also said that the license revenue from new logo business increased to 24% in the forecasted quarter, up from 12% reported in the previous ...

Aerostar International, Inc., a wholly owned subsidiary of Raven Industries, Inc. (RAVN), has been awarded $12.2 million under a five-year, IDIQ (indefinite delivery indefinite quantity) contract for the production of US Army T-11 personnel parachutes.  The company expects the shipment of parachutes under this first order during the fiscal year beginning February 2010. The contract is expected to have annual releases that will continue through 2014. Despite securing an order for the first year and expected annual reorders, the company is not certain about the magnitude of the entire contract as it is an indefinite delivery and indefinite quantity contract.  Management stated that this contract came at a good time for Aerostar as the MC-6 contract is expected to complete during the fourth quarter of the current fiscal year ending January 2010. Aerostar believes that the common components between the T-11 and the MC-6 will help ...