LDK Solar (NYSE: LDK) Slides On Weak Q1
Shawshank, VA 6/26/12 (StreetBeat) -- LDK Solar (NYSE: LDK) shares are trading sharply lower this morning after the company posted disappointing results for the March quarter.For the period, the China-based solar company reported sales of $200.1 million, down from $420.2 million in Q4 and $766.3 million a year ago, and below the Street at $225.5 million. The company lost $1.46 a share in the quarter, worse than the Street consensus...more
Capital Bank raises bid for Southern Community (Nasdaq: SCMF)
Palm Beach, FL 6/26/12 (StreetBeat) -- Capital Bank Financial Corp, a U.S. bank holding company that last year filed plans for a public stock offering, has raised its offer to buy Southern Community Financial Corp (Nasdaq:SCMF) by 8 percent and now plans to pay for the deal wholly in cash.The new deal at $3.11 per share values Southern Community's equity at about $52 million, according to...more
Supernus (Nasdaq: SUPN) epilepsy drug gets tentative FDA nod
Palm Beach, FL 6/26/12 (StreetBeat) -- Supernus Pharmaceuticals Inc (Nasdaq: SUPN) said the U.S. health regulator granted a tentative approval to its epilepsy treatment Trokendi XR, sending its shares up 38 percent before the bell.The company said the U.S. Food and Drug Administration completed a review of Trokendi, an extended release version of Johnson & Johnson's widely-used epilepsy drug...more
Daulton Capital (OTCBB: DUCP) Announces $105 Million Gold Sales Contract
Orlando, FL 6/26/12 (StreetBeat) -- Daulton Capital Corp. (OTCBB:DUCP) (to be renamed Celframe Arx Resources Corp) a gold and precious metals exploration company, is pleased to announce that it has entered into a $105 million forward Gold sales contract with Salam International Limited. Salam International Ltd is a Dubai gold trading company which procures gold and...more
Hershey (NYSE: HSY) sees $10 bln in sales by 2017
Northern, WI 6/25/12 (StreetBeat) -- The Hershey Co. (NYSE:HSY) on Monday said it is now targeting $10 billion in net sales by the end of 2017. The company will be focusing on five core brands globally - Hershey's, Reese's, Hershey's Kisses, Jolly Rancher and Ice Breakers - as part of a new strategy. "Our marketplace and financial results over the last few years validate our consumer-driven approach to core brand...more
Ventrus (Nasdaq: VTUS) drops piles drug, shares hit life-low
Northern, WI 6/25/12 (StreetBeat) -- Ventrus Biosciences Inc's (Nasdaq: VTUS) experimental drug to treat piles failed in a late-stage trial, and the company said it would stop developing the drug to reduce costs, sending its shares to a life low.The company's shares were down 55 percent at $5.47, their biggest single-day percentage drop. The stock, which touched a low of $5.28 earlier...more
Sanguine (OTCBB: SGUI) Provides Update on Status of Company
Atlanta, GA 6/25/12 (StreetBeat) -- Sanguine Corp. (OTCBB:SGUI) is pleased to provide a corporate update in the form of a statement from the President of the Company, Mr. Frank Marra.As an emerging life science technology company, we have overcome several obstacles over these past few years, all of which were exacerbated by the meltdown of the financial markets. However, in the face of these issues...more
Telkonet (OTCBB: TKOI) Partners with OTO Development
Palm Beach, FL 6/25/12 (StreetBeat) -- Telkonet, Inc. (OTCBB: TKOI), developer of the revolutionary EcoSmart energy management platform incorporating patented Recovery Time™ technology, announced today that the new development project, Hyatt Place Los Angeles Int Airport/El Segundo of El Segundo, CA, will be installed with a fully networked EcoSmart energy management solution.In partnership with Spartanburg,...more
Great Wall Builders (OTCBB:GWBU) Contract for EUR750,000 Start FEED Units in Slovenia
Palm Beach, FL 6/25/12 (StreetBeat) -- Great Wall Builders Ltd. (OTCBB:GWBU) (or "the Company"), operating as "Start Technologies Europe s.r.o." ("Start Technologies"), and NESS Tech GmbH, Start's exclusive European distributor, is pleased to announce the appointment of TE.SIS d.o.o, as its agent for the Slovenian market.As previously...more
3 Things to Know Before Trading
Palm Beach, FL 6/25/12 (StreetBeat) -- Stocks were broadly weaker in Asian trade. Shanghai fell 1.6%, the Nikkei was down 0.7%, while the Hang Seng and Australia were a half percent lower on the session. European indexes are also weaker this morning, with the Dax off 1.8%, the Footsie down 0.7% and Spain is more than two and a half percent lower this morning. US stock futures a down by almost one percent as I write. *Spain has formally requested...more
AB InBev (NYSE: BUD) Nears Deal to Buy Modelo
Atlanta, GA 6/25/12 (StreetBeat) – Anheuser-Busch InBev NV (NYSE: BUD), the world’s biggest brewer, is close to buying the remainder of Mexico’s Grupo Modelo (OTCBB: GPMCF) SAB for more than $12 billion, according to a person with knowledge of the matter.The purchase may be announced as soon as this week, said the person, who asked not to be identified as the discussions are confidential. The deal...more
Fidelity National to buy J Alexander's (Nasdaq: JAX) for $72 mln
Atlanta, GA 6/25/12 (StreetBeat) -- Fidelity National Financial Inc, the No. 1 U.S. property title insurer, will buy restaurant operator J Alexander's Corp (Nasdaq: JAX) for about $72 million.Shareholders of J Alexander's can elect to receive $12 per share in cash or a combination of $3 in cash and one share of Class A common stock of American Blue Ribbon Holdings Inc (Nasdaq:ABRH),...more
GeoEye (Nasdaq: GEOY) shares tumble on loss of government contract
Shawshank, VA 6/25/12 (StreetBeat) – Shares of GeoEye Inc (Nasdaq: GEOY) fell 26 percent in morning trade, after the satellite imagery provider said the U.S. National Geospatial Intelligence Agency (NGA) will not renew a major contract with it due to budget constraints.GeoEye and rival DigitalGlobe Inc had won contracts worth $7 billion from the NGA to provide high-resolution...more
Ventrus Bio (Nasdaq:VTUS): -53% How Stupid does Brean Murray Look?
Northern,WI 6/25/12 (TheStreetBeat) -- Ventrus Bio (Nasdaq:VTUS): -53% How Stupid does Brean Murray Look? Wall Street research never ceases to amaze me and this little collapse caught my eye as Ventrus Bio cancels any furthur research on VEN 309 a drug which was in the midst of FDA drug trials. The real stumper for me is why in the hell Brean Murray...more
Egypt Stocks Surge 7.6% After Vote
Shawshank, VA 6/25/12 (StreetBeat) – Trade on Egypt’s stock market was suspended as stocks were surging on Monday but even so the market closed 7.6 percent higher, the first reaction to the announcement of Mohamed Mursi as Egypt’s new President. The surge places the index among the world’s best performers once again.The Market Vectors Egypt ETF (PCX:EGPT) in the U.S., another way for foreign investors to win exposure...more