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Yasheng ECO-Trade Corporation (OTCBB: YASH) $0.55. Announced Wednesday after market close that it has entered negotiations with Management Consulting Company to explore further expansion and acquisitions for Yasheng Russia, a Yasheng Eco-Trade Corporation joint venture. Management Consulting Company is a division of IFD Kapital Group in Russia.
Yasheng ECO-Trade Chairman Greg Rubin stated, “We are excited about the possibility of making strategic moves that will help the company achieve its vision. In addition, the relationship we are establishing with one of Russia’s premier financial services firm may be important as the company moves to expand into the region.”
IFD Kapital is one of the largest financial groups in Russia with US$4.9 Billion in total assets and US$2 billion in total equity. IFD Kapital has more than 7,000 employees.
What They Do: The Company's business has been the identification and acquisition of undervalued assets within emerging industries for the purpose of consolidation and development of these businesses and sale if favorable market conditions exist. The Company's objective is to find, acquire and develop resources at the lowest cost possible and recycle its cash flows into new projects yielding the highest returns with controlled risk. The Company's competencies include financial services, mergers and acquisitions, accounting, real estate development and natural resources exploration. The Company is currently in the process of developing a logistics center. As part of its strategy to develop a logistics center, the Company has entered a term sheet with Yasheng Group in which Yasheng Group, among other things, has agreed to contribute real property for the development of a logistics center. Further, the Company and Yasheng Group have jointly entered into a cooperation agreement with Legend Transportation based in Texas.
Newell Rubbermaid (NYSE: NWL) $12.26. Today announced second quarter 2009 financial results that exceeded the company’s guidance. The company reported strong operating cash flow and gross margin improvement and raised its guidance for full year 2009 normalized earnings and operating cash flow.
Net sales declined 17.6 percent to $1.50 billion in the second quarter, compared to $1.83 billion in the prior year. The reported sales results are more favorable than the guidance of a 20 percent decline. Net income, as reported on a GAAP basis, was $105.7 million, or $0.37 per diluted share. This compares to $92.5 million, or $0.33 per diluted share, in the second quarter 2008.
What They Do: Newell Rubbermaid Inc. engages in the design, manufacture, packaging, and distribution of consumer and commercial products. It operates in four segments: Cleaning, Organization & Decor; Office Products; Tools & Hardware; and Home & Family.
Sonus Networks (Nasdaq: SONS) $1.78. Today announced results for the second quarter ended June 30, 2009. Revenue for the second quarter of fiscal 2009 was $61.6 million, compared to $41.0 million in the first quarter of fiscal 2009 and revenue from continuing operations of $87.8 million for the second quarter of fiscal 2008. The Company's net income on a GAAP basis was $4.4 million, or $0.02 per share, for the second quarter of 2009, compared to a loss of $16.2 million, or $0.06 per share, for the first quarter of 2009, and income from continuing operations of $3.3 million, or $0.01 per share, for the second quarter of 2008. The Company ended the quarter with cash, cash equivalents, marketable securities and investments totaling $387.4 million.
What They Do: Sonus Networks, Inc., providing network transformation through IP communications technology, is leading the evolution of communications networks to support the multi-media, multi-device demands of today's digital lifestyle.
KBR (NYSE: KBR) $19.59. Announced Wednesday after market close that it has been recognized for the second year running by the British Ministry of Defence (MoD) as the department’s top Key Supplier. KBR was awarded 8.2 out of a possible 10 points in the MoD’s performance assessment, making them the first Key Supplier ever to receive a score above 8, with a high point of 9.4 out of 10 for quality of relationship. The MoD Supplier Relations Team has commented that KBR now sets the standard against which all other Key Suppliers of the MoD will be measured.
What They Do: KBR is a global engineering, construction and services company supporting the energy, hydrocarbon, government services and civil infrastructure sectors. The company offers a wide range of services through its Downstream, Government and Infrastructure, Services, Technology, Upstream and Ventures business segments.
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