Jason Shade submits:
Yucheng Technologies Inc. (YTEC) (3.55), saw its stock price cut in half following its dismal earnings report Friday. The provider of IT services and software solutions to the Chinese banking sector missed on both revenues and earnings per share.
The report obviously came as a shock to YTEC investors. However, I found a greater surprise in the comments made by Weidong Hong, Chairman and CEO of YTEC.
The Burrill Report submits:
AstraZeneca (AZN) said it will eliminate an additional 8,000 jobs or about 12 percent of its workforce as it seeks to cut costs in the face of declining revenue and lowered its forecast for 2010. The announcement came as the company reported earnings that fell short of expectation. The company said the next five years will be difficult as key products come off-patent. AstraZeneca expects to save $1.8 billion a year as a result of the cuts by 2014, but would take a $2 billion restructuring charge. It also announced it would buy back up to $1 billion worth of its own stock.
The Burrill Report submits:
AstraZeneca (AZN) said it will eliminate an additional 8,000 jobs or about 12 percent of its workforce as it seeks to cut costs in the face of declining revenue and lowered its forecast for 2010. The announcement came as the company reported earnings that fell short of expectation. The company said the next five years will be difficult as key products come off-patent. AstraZeneca expects to save $1.8 billion a year as a result of the cuts by 2014, but would take a $2 billion restructuring charge. It also announced it would buy back up to $1 billion worth of its own stock.
The Burrill Report submits:
As President Barack Obama delivered his State of the Union Address, healthcare reform legislation, as one Senator described, was on life support. The Democrats, losing their super majority in the Senate, say they are not ready to pull the plug on the bill, but as of now, the path forward is unclear. The Burrill Report submits:
As President Barack Obama delivered his State of the Union Address, healthcare reform legislation, as one Senator described, was on life support. The Democrats, losing their super majority in the Senate, say they are not ready to pull the plug on the bill, but as of now, the path forward is unclear. John Lounsbury submits:
Michael Ziegler, at photovoltaik-guide.de, reports that Duke Energy (DUK) has acquired the Blue Wing Solar Project from juwi solar Inc., based in Boulder, CO. The Blue Wing project is situated in San Antonio, TX and all output will be sold to San Antonio-based CPS Energy. CPS is one of the largest municipality-owned utilities in the U.S.. First Solar (FSLR) thin film solar panels will be used in the project, which will have an output of 14 megawatts.
This the first major solar power venture for Duke and is expected to come on line by the end of 2010. When generation starts, solar will be only about 1.4% of Duke’s renewable power output. By the end of the year Duke expects to have nearly 1,000 megawatts of wind generation in operation.
John Lounsbury submits:
Michael Ziegler, at photovoltaik-guide.de, reports that Duke Energy (DUK) has acquired the Blue Wing Solar Project from juwi solar Inc., based in Boulder, CO. The Blue Wing project is situated in San Antonio, TX and all output will be sold to San Antonio-based CPS Energy. CPS is one of the largest municipality-owned utilities in the U.S.. First Solar (FSLR) thin film solar panels will be used in the project, which will have an output of 14 megawatts.
This the first major solar power venture for Duke and is expected to come on line by the end of 2010. When generation starts, solar will be only about 1.4% of Duke’s renewable power output. By the end of the year Duke expects to have nearly 1,000 megawatts of wind generation in operation.
Greentech Media submits:
The real news in electric vehicles last week was the official unveiling of the hybrid version of the Ferrari 599 GTB Fiorano (FIATY.PK) (as reported by All Cars Electric). The 599 in the model name refers to the 620 horsepower 5.99 liter V-12 engine, now augmented by an electric motor, a lithium-ion battery pack and a flywheel-powered Kinetic Energy Recovery System (KERS).
The hybrid development was spurred by the cry of cash-strapped Ferrari owners trying to get a few more miles per gallon. And this Ferrari delivers — with 11.75 miles per gallon, up from the usual 8.7 miles per gallon. The masters of Maranello strike again.
Greentech Media submits:
The real news in electric vehicles last week was the official unveiling of the hybrid version of the Ferrari 599 GTB Fiorano (FIATY.PK) (as reported by All Cars Electric). The 599 in the model name refers to the 620 horsepower 5.99 liter V-12 engine, now augmented by an electric motor, a lithium-ion battery pack and a flywheel-powered Kinetic Energy Recovery System (KERS).
The hybrid development was spurred by the cry of cash-strapped Ferrari owners trying to get a few more miles per gallon. And this Ferrari delivers — with 11.75 miles per gallon, up from the usual 8.7 miles per gallon. The masters of Maranello strike again.
Phil Davis submits:
Another week another 100 points lower.
Yep, that’s all it was, we lost all of 100 points more than last week, when we fell from 10,725 to 10,172 (553 points) and this week we dropped from Friday’s Dow close of 10,172 all the way down to 10,067. Yet you would think the world had come to an end to hear the media and the traders freaking out. I’m not going to try to explain it, I can’t. Maybe it’s because going into last week we were very bearish but, starting on the 22nd, we let ourselves finally get a little more bullish AND THE MARKET BETRAYED US!
