The world’s second largest gold producer by market value, Goldcorp Inc (GG) is acquiring gold miner Canplats Resources Corp for about C$238 million ($229 million) to establish a network of satellite mines around its Penasquito gold project in Mexico. Each Canplats share would be exchanged for 0.074 of a common share of Goldcorp and an interest in a new exploration company. The offer values Canplats at about C$3.60 ($3.46) per share based upon the closing price of Goldcorp shares on Nov. 13. The offer represents a premium of about 41% over the C$2.55 million ($2.45 million) closing price of Canplats shares. The transaction is expected to close in January 2010. The Boards of Directors of both Goldcorp and Canplats have approved the deal. However, a two-thirds majority of Canplats outstanding shareholders are required to vote in favor of the offer for it to conclude. Canplats has ...

CareFusion Corp. (CFN) entered into a multi-year technology licensing agreement with Masimo Corp. (MASI) regarding the use of Masimo Rainbow SET Pulse CO-Oximetry technology in CareFusion infusion and respiratory products, which are presently under development.    The agreement enables CareFusion’s future infusion and respiratory products to non-invasively and continuously measure multiple blood constituents to more accurately assess dyshemoglobins affecting oxygenation, predict fluid responsiveness, and provide earlier identification of respiratory compromise.   CareFusion’s ventilators and infusion pumps facilitate earlier detection, diagnosis and treatment of potentially life-threatening conditions by accessing total hemoglobin (SpHb), oxygen content (SpOC), carboxyhemoglobin (SpCO), methemoglobin (SpMet), and PVI for fluid responsiveness, in addition to oxyhemoglobin (SpO2), perfusion index (PI), and pulse rate.   CareFusion is a medical technology company formed recently by the spin-off of the Clinical and Medical Products business of Cardinal Health, Inc. (CAH). The spin-off was completed in September ...

We are upgrading our recommendation on the shares of Loews Corp. (L) to Neutral. The company’s third-quarter earnings of $1.08 per share was well ahead of the Zacks Consensus Estimate of 87 cents a share. Loews reported a loss of 33 cents a share in the year-ago quarter.   The improved earnings were driven by increased investment income and a considerable reduction in investment losses at CNA Financial Corp. (CNA), besides strong results at Diamond Offshore Drilling Inc. (DO).    While the spin-off of Lorillard in 2008 eliminated the company’s overhang of tobacco litigation and the strong rebound in investment income is impressive, we think that the continuation of a stressed economic environment will have a restrictive effect on the top-line growth of the company.   The recent financial market appreciation bodes well for Loews. Both the holding company as well as the subsidiary, CNA, has experienced

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Cardinal Health (CAH) reported fiscal first-quarter earnings per share of 54 cents, surpassing the Zacks Consensus Estimate of 43 cents and the year-ago earnings of 47 cents.   Sales   Total sales in the reported quarter increased 6% year over year to $24.8 billion. Growth was witnessed across all the business segments.   Pharmaceutical segment revenues increased 5% year over year to $22.6 billion. Growth was primarily due to higher sales to existing pharmaceutical distribution customers. Sales to bulk customers increased 6% year over year to $11.3 billion. Sales to non-bulk customers increased 5% year over year to $11.2 billion.   Medical segment revenues increased 10% year over year to $2.2 billion. Growth can be primarily attributed to higher sales to existing customers. In addition, the CareFusion Corp. (CFN) spin-off has resulted in immediate revenue recognition from international sales to CareFusion.   Margins   Cardinal Health ...

Solar Energy Initiatives Inc. is developing one of the fastest growing dealer networks in the United States that sells and installs solar solutions to homeowners and commercial customers. The company also aims to become a developer of solar parks, bringing together landowners, utilities and corporations to build large photovoltaic installations.

The company announced today that it will be spinning-off its wholly-owned solar park company, Solar Park Initiatives Inc. For Solar Energy Initiatives shareholders as of October 15, 2009, they will receive one share of Solar Park Initiatives for every two common shares of SNRY that they own. To receive the shares in the spin-off, shareholders are not required to take any action and the transaction is tax and cash free for all SNRY shareholders.

As a result of the spin-off, both companies are expected to benefit from sharper management focus, clearer strategic vision and greater opportunities to access and allocate capital, while

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Cardinal Health, Inc. (CAH) yesterday entered into a five-year, laboratory products supply agreement with Novation, one of the largest group purchasing organizations (GPOs) in the U.S. Per the agreement, Cardinal Health will exclusively provide laboratory products to Novation's clinical members, such as hospital laboratories, blood banks, core laboratories and reference laboratories. The agreement is effective from Oct. 1, 2009 and runs until 2014. Financial terms of the agreement have not been disclosed. Cardinal’s stock reacted positively to the news, with the price increasing roughly 1.4% to $27.70 at the end of Sept. 28, 2009. Cardinal Health is one of the largest global healthcare companies which helps pharmacies, hospitals and ambulatory care sites to focus on low-cost patient care. The company is also a leading manufacturer of medical and surgical products. Cardinal Health recently completed the spin-off of its Clinical and Medical Products business to form ...

Entergy Corp.’s (ETR) proposed spin-off of its Non-utility Nuclear power business has been relegated to fiscal 2010. Recently, the New York Public Service Commission’s two administrative law judges in a ruling stated their apprehension regarding the new company having the financial viability to operate three units located in the state of New York. Of this, two units are located in the Indian Point Energy Center in Westchester County and a reactor at the James A. Fitzpatrick station in Oswego County. The New York Public Service Commission expressed its apprehension that the $3.5 billion worth of long-term unsecured bonds that Entergy plans to issue for the spin-off will drag down the bond rating of the new company, affecting its financial capacity. The Commission has also relegated its next hearing to December 2009 followed by a final decision on the spin-off in January 2010. Entergy has been ...

Siemens Corporate Research spin-off and Speedus Corp. subsidiary, Zargis Medical Corp., announced Friday that it has received U.S. Food and Drug Administration clearance to market the new Signal X6(TM) device. The company also announced that seven Signal X6 devices have been delivered to the U.S. Army for deployment in six Department of Defense medical facilities.

Signal X6 technology records heart and lung sounds from six adhesive sensors. The recordings can be evaluated locally or, when a cardiac specialist is not immediately available, transmitted through the Internet for remote evaluation. This feature makes the noninvasive technology easy to use. The configuration of the Signal X6 provides a unique telemedicine resource in situations where evaluations could benefit from high fidelity multi-channel synchronous recordings.

Prototypes for Signal X6 were first developed with funding from the Telemedicine and Advanced Technology Research Center (TATRC), of the USAMRMC, through the AAMTI program. The AAMTI program provides funding to

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On Monday, Millipore Corp. (MIL) announced its collaboration with Roka Bioscience Inc. to develop molecular assays and portable instruments for biopharmaceutical production.   Roka Bioscience is a new, independent company created following the spin-off of the industrial testing business of Gen-Probe Inc. (GPRO). After the spin-off, Gen-Probe transferred its partnership agreements with Millipore and GE Water (a business unit of CT-based General Electric (GE). Roka Bioscience is now engaged in developing real-time molecular tests for biopharmaceutical, food, and water safety testing.   Gen-Probe initially plans to own 19.9% of the new company. Affiliates of three private equity firms, OrbiMed Advisors, TPG Biotechnology and New Enterprise Associates have agreed to provide $37.2 million to complete the development of several industrial-scale molecular assays. Gen-Probe contributed industrial assets that include its closed unit dose assay (CUDA) system, a portable testing instrument that can deliver highly accurate molecular results in ...

Fuel Tech Awarded Multiple Air Pollution Control Orders Totaling $2.9 Million

Fuel Tech, Inc. (NASDAQ: FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems and emissions control in utility and industrial applications, today announced receipt of multiple air pollution control contracts totaling $2.9 million, including two orders for a combined three ULTRA™ systems.

About Fuel Tech Fuel Tech is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services. These technologies enable customers to produce both energy and processed materials in a cost-effective and environmentally sustainable manner.

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Millipore and Roka Bioscience to Develop Real-Time Molecular Tests for Biopharmaceutical Applications

Millipore Corporation (NYSE:MIL), a leading provider of technologies, tools and services for the global life science industry, today announced that it will collaborate with Roka Bioscience, Inc. to develop molecular assays and

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