Wall Street set to open higher on earnings, M&A

U.S. stocks were set for a higher open on Monday as merger activity and solid earnings, including Exxon Mobil, overshadowed concerns about the possible spread of unrest in Egypt to other parts of the Middle East. Alpha Natural Resources said on Saturday it agreed to a $7.1 billion deal to buy Massey Energy Co, which would create the second largest... 

Kirby Corporation Announces 2010 Fourth Quarter and Year Results

Kirby Corporation today announced net earnings attributable to Kirby for the fourth quarter ended December 31, 2010 of $31.6 million, or $.59 per share, compared with $29.2 million, or $.54 per share, for the 2009 fourth quarter. The 2009 fourth quarter results included a $4.8 million before taxes, or $.05 per share, charge for shore staff reductions,... 

SunPower Announces Impact of Recent Foreign Exchange Rate Volatility

SunPower Corporation announced that substantial strengthening of the U.S. dollar relative to the Euro during the fourth quarter is expected to reduce earnings growth in the current quarter and fiscal year 2009. SunPower has historically operated under a hedging policy to minimize its exposure to changes in the foreign exchange rate between the U.S.... 

ReneSola Secures Additional Credit Lines from Two of China’s Largest Banks

ReneSola Ltd, a leading Chinese manufacturer of solar wafers, announced that its principal operating subsidiary Zhejiang Yuhui Solar Energy Source Co. Ltd. has secured additional banking facilities with two of China’s largest banks: Industrial and Commercial Bank of China and Agricultural Bank of China. The Banks have agreed to provide Zhejiang... 

Modine to Scale Back Vehicular HVAC Business through Intended Divestment of Modine Korea

Modine Manufacturing Company, a diversified global leader in thermal management technology and solutions, today announced strategic plans to scale back its focus on the global vehicular HVAC market through the intended divestiture of its Korean-based vehicular HVAC business. The Company’s Korea subsidiary includes standalone vehicular HVAC research... 

Entergy Provides Preliminary Third Quarter Earnings Guidance Reflecting Effects of Hurricanes Gustav and Ike

Entergy Corporation indicated that it expects third quarter 2008 as-reported earnings of approximately $2.40 per share and operational earnings of $2.49 per share compared to as-reported and operational results of $2.30 per share in third quarter 2007. As-reported results are prepared in accordance with generally accepted accounting principles and are... 

Accelerated Decommissioning Projects Delayed by Nation’s Financial Crisis

The financial crisis that is impacting the United States and world markets will delay EnergySolutions’ ability to accelerate the decommissioning of identified nuclear power plant assets, a key growth initiative of the company. The company is now estimating net income in the range of $0.50 to $0.60 per share, based on 88.3 million fully diluted... 

Modine and Bloom Energy Reach Agreement On Licensing of Fuel Cell Technology

Modine Manufacturing Company, a diversified global leader in thermal management technology and solutions, today announced the company has reached a definitive agreement with Bloom Energy, a leading developer of fuel cell-based distributed energy systems, under which Bloom Energy will license certain Modine-developed thermal management technology. Leading... 

Cano Announces Completion of the Sale of Pantwist, LLC

Cano Petroleum, Inc. announced that on October 1, 2008 it completed the previously announced sale of its subsidiary, Pantwist, LLC, to Legacy Reserves Operating L.P. for $42.7 million. Net proceeds to Cano, after expenses and other customary adjustments, were $41.7 million. Net proceeds were used to pay off all the senior debt of Cano. Cano’s Senior... 

Exelon Announces $1.5 Billion Share Buyback; Revises Full Year 2008 Earnings Guidance

Exelon Corporation announced that its board of directors has approved a share repurchase program for up to $1.5 billion of its outstanding common stock. Exelon expects to complete the share repurchase program within the next six months. “We have an increasingly strong cash flow profile and balance sheet, which allow us to pursue new growth opportunities...