News / Stocks
Morning Market News for Friday October 7, 2011: Trai Thien USA, Lowe’s Companies Inc., AT&T, Vringo, Inc., Pharmaceutical Product Development, Inc.
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Trai Thien USA (OTC: TRTH) management today 10/7/11, discussed the company’s second quarter 2011 financial results. Revenues for the quarter through June 30, 2011 increased seven percent as compared to the second quarter of 2010, with $3,829,013 in revenue as compared to $3,556,357 for the same period 2010. Revenues for the six-month period ended June 30, 2011 increased nineteen percent as compared to the same period last year, with $7,698,999 in revenues compared to $6,469,606 in 2010. The increase in revenues between 2010 and 2011 was mostly due to an improvement in the regional economic climate and an increase in the carrying capacity of the fleet.
Income from operations increased from a loss of $5,282 in the second quarter of 2010, to a positive $504,842 in the same period this year. Income from operations over the last two quarters grew 460%, from $250,052 in 2010 to $1,401,832 for the same period this year. To view the full press release for Trai Thien USA (OTC: TRTH), CLICK HERE or visit OFinancialinc.com
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Lowe’s Companies Inc. (NYSE: LOW), the world’s second largest home improvement retailer, announced yesterday 10/6/11, that they have replaced its old tag line “Let’s Build Something Together” with a new one “Never Stop Improving”, thereby reflecting the company’s new brand strategy. The company commenced a new advertising campaign on September 19, 2011, as a part of its new brand positioning. The new tag line promises intriguing ideas and striking innovations that will capture the market in the coming years. Lowe’s will also shortly launch an online tool, “MyLowes”, to aid consumers better manage their homes and other home remodeling projects.
AT&T (NYSE: T) announced today 10/7/11, it will offer iPhone 4S on Friday, October 14. Only AT&T's network lets your iPhone 4S download twice as fast, as well as talk and surf at the same time. iPhone 4S will be available for a suggested retail price of $199.99 for the 16GB model, $299.99 for the 32GB model, and $399.99 for the 64GB model. Customers can preorder iPhone 4S today. In addition, AT&T will offer iPhone 4 at $99.99 for a new 8GB model. AT&T is also the only U.S. carrier to offer iPhone 3GS – now available for free online and in AT&T stores, with a two-year term commitment plus voice and data plans, while supplies last. "We can't wait for our customers to experience the incredible new iPhone 4S on our 4G network and enjoy download speeds of up to twice as fast," said Ralph de la Vega, president and CEO, AT&T Mobility and Consumer Markets. "When you combine the nation's fastest mobile broadband network with iPhone 4S, as well as our new pricing for iPhone 3GS and iPhone 4, we think we have the best iPhone line up in the industry."
Vringo, Inc. (NYSE: VRNG), a provider of software platforms for mobile, social and video applications, and Verizon Wireless, operator of the nation's most reliable and largest wireless voice and 3G data network, yesterday 10/6/11, announced that Vringo's innovative new Facetones™ application is now available in V CAST Apps on select Verizon Wireless devices. Vringo's Facetones service integrates with Facebook® and provides a new way to get visually exciting social content each time a user makes or receives a phone call. For Verizon customers who download the app, Vringo's Facetones product creates an automated video slideshow using friends' photos from social media websites and photo sites and then plays this video slideshow as the phone rings. Initially, Facetones will connect with Facebook, one of the world's leading social media sites, providing a significantly enhanced mobile experience for consumers of social media.
Pharmaceutical Product Development, Inc. (NASDAQ: PPDI) a pharmaceutical drug research company, announced today 10/7/11, that it has entered into an agreement to be acquired by privately held The Carlyle Group and Hellman & Friedman for $3.9 billion in cash. PPD shareholders have been offered a cash consideration of $33.25 per share, a premium of 29.6% over the stock’s closing price on September 30. The transaction has won unanimous approval of PPD’s board while shareholder approval is awaited. The transaction is expected to close in the fourth quarter of 2011, following which PPD will become a private company and will no longer trade on NASDAQ. Four banks have committed to finance the deal. These include Credit Suisse, JP Morgan, Goldman Sachs and UBS. PPD has 30 days to solicit superior proposals from other contending bidders. Because of the buyout, PPD will not hold a conference call to discuss the third quarter results.
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