Chicago Bridge & Iron Company NV (CBI) reported net income of $40.8 million, or 42 cents per diluted share, for the third quarter of 2009, compared with $8.6 million, or 9 cents per diluted share, in the third quarter of 2008. This was higher than Zacks Consensus Estimate of 38 cents per share. Revenue for the quarter was $1.0 billion compared with third quarter 2008 revenue of $1.6 billion.  New awards for the reported quarter totaled $1.6 billion, including CB&I’s $550 million Gorgon LNG contract in Australia and the $530 million GASCO award in Abu Dhabi. With less work, the company cut sales-related costs 39%, although overhead shrank by a more modest 12%.  Earlier, the company had announced that it has agreed to buy hydrogen-management technology from H2Gen Innovations Inc. in order to get hold of the Mars modularized Pressure Swing Adsorption (PSA) technology. H2Gen's PSA technology ...

Polymer Group, Inc. reports completion of its transaction to purchase a 40 percent minority stake in Dominion Nonwovens Sudamericana, S.A. (PGI Argentina) from its partner, Guillermo E. Kraves with terms of the transaction undisclosed.

PGI Argentina has been operating as a joint venture since 1997. The company is located near Buenos Aires, Argentina and began operations with multi-beam spunmelt lines which serve the hygiene and industrial markets of the Mercosur region. PGI then purchased a majority share of the business in 1999 with a focus on growing business in the Mercosur region as part of its overall hygiene leadership strategy in Latin America. In 2003, PGI added an extrusion line and most recently installed new wide-width, multi-beam line which features the latest spunbond technology and has a capacity of over 15,000 metric tonnes per year.

PGI’s chief executive officer, Veronica (Ronee) Hagen, commented on the purchase saying, “This investment is

...

PennyOmega.com Stock Report!

PennyOmega.com Hot Stock News & Alerts!

 

Thursday August 13, 2009

PennyOmega.com Stock Report!

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

Nutra Pharma Corp. (OTCBB: NPHC), a biotechnology company that is developing treatments for Adrenomyeloneuropathy (AMN), HIV and Multiple Sclerosis (MS), has announced today that its wholly-owned drug discovery subsidiary, ReceptoPharm, has filed a patent for a novel composition and method for oral delivery of cobra venom for the treatment of pain.

Seattle Genetics, Inc. (NASDAQ:SGEN), announced today that the underwriters of its previously announced public offering of common stock have exercised in full their option to purchase an additional 1,650,000 shares of common stock. Gross proceeds from the offering of an aggregate of 12,650,000 shares at a price to the

...

Universal Bioenergy, Inc. is focused on making biodiesel fuels. Biodiesel is a diesel-equivalent processed fuel derived from biological sources such as vegetable oils or fatty animal products. Once processed, it can be used as a replacement fuel in unmodified diesel-engine vehicles. It is clean-burning and is renewable. Exhaust from automobiles that run on biodiesel tends to smell a little like French fries. Biodiesel typically produces up to 78% less net lifecycle carbon dioxide emissions than petroleum-based diesel. So, the fuel is all around good for the environment.

The company announced yesterday that they have negotiated two process technologies that may lower the cost to produce their biodiesel. The first of these technologies will allow the use of lower cost, higher free fatty acid feedstocks while producing other value-added byproducts. These include a furnace oil and a lubricant base oil that can sell for prices 20-25% higher than biodiesel as stated

...

Tower Semiconductor Ltd. (NASDAQ: TSEM) ended the week on a high note by announcing its merger with Jazz Technologies. The merger means the new company, Jazz Semiconductor, is created as a wholly-owned subsidiary of Tower Semiconductor. Tower is a specialty wafer foundry, while Jazz is a well-known specialist in Analog-Intensive Mixed-Signal Foundry solutions.

“We expect the merger of the two companies to provide expanded opportunities for growth based on the significant cross-selling opportunities and the broader, more complete product, technology, and service portfolio we are now able to offer to customers,” said Tower CEO Russell Ellwanger. “[We expect] significant improvements to our financial results, EBITDA and cash flow margins.”

In the move, Jazz Chairman and CEO will retire and begin to serve as a special advisor to the new Board of Directors. Ellwanger has been named chairman of the Jazz board of directors and is responsible for developing the final merger plan

...

Second quarter financial results were released today from Israel-based Tower Semiconductor (NASDAQ: TSEM), showing high revenues, a plan for debt reduction and reflecting the company’s purchase of Jazz Technologies.

Tower achieved revenue of $58.1 million in the second quarter, slightly above company projections. That compares to $57.6 in the 1st quarter and $57.1 million in the same quarter last year.

Tower is also aggressively pursuing ways to restructure cash flow and debt. These moves include: - A cost reduction plan expected to result in about $40 million annual savings - Decreased net loss in the first six months of 2008 by $13 million, year-over-year - The signing of a Memorandum of Understanding to significantly improve balance sheet and financial position, by lowering debt $250 million and increasing shareholders equity by a similar amount

“Over the past few years, Tower has substantially improved its revenue and operational results as evidenced by becoming the number one revenue growth

...

Pilgrims Pride Corporation (NYSE:PPC), the largest chicken company in the U.S., today received a 2008 ecomagination leadership award from GE Water and Process Technologies, a unit of General Electric Company (NYSE:GE), for achieving reductions in greenhouse gas emissions, waste solids, and water usage at its El Dorado, Arkansas facility.

Pilgrims Pride Corporation (NYSE:PPC), the largest chicken company in the U.S., today received a 2008 ecomagination leadership award from GE Water and Process Technologies, a unit of General Electric Company (NYSE:GE), for achieving reductions in greenhouse gas emissions, waste solids, and water usage at its El Dorado, Arkansas facility.