Pacific Gas & Electric (PCG) this afternoon announced two contracts for a combined 800 MW of solar power. The two deals will provide 1.65 billion kilowatt-hours of electricity, enough to serve 239,000 residential homes. PG&E signed a deal for 550 MW of thin-film photvoltaic solar power with Topaz Solar Farms, a unit of OptiSolar, and a second deal for 250 MW with High Plains Ranch II,...
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Autodesk (ADSK) shares have rallied sharply in late trading on better-than-expected results for its fiscal second quarter ended July 31. For the quarter, ADSK posted revenue of $620 million and non-GAAP profits of 56 cents a share; the Street had expected $606.1 million and 52 cents. For Q3, the company sees revenue of $625 million and non-GAAP EPS of 54-56 cents; the Street had been looking fo...
Merrill Lynch instituted a hiring freeze for the rest of the year, a move meant to help bring the firm to profitability amid its billions of dollars in losses. (DealBook has the full memo.)
SEATTLE (AP) -- Yahoo Inc. said Thursday it will add the former chief executives of Viacom and Nextel Partners to its board of directors as part of the company's deal to ward off a proxy fight with billionaire investor Carl Icahn....
NEW YORK (AP) -- Wachovia Corp. is close to agreeing to buy back $8 billion of auction-rate securities and pay fines to settle charges it misled investors about the risks, according to a person close to the negotiations....
Yahoo Inc. names two new members to its board of directors to fill seats created through a settlement deal with billionaire activist Carl Icahn, who pursued a proxy battle against the company earlier this year.
JPMorgan and Morgan Stanley jump on the Auction Rate Securities settlement bandwagon
Thu, Aug 14, 2:52 PM ET
Filed under: JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs Group (GS), Morgan Stanley (MS), Wachovia Corp (WB), Lehman Br Holdings (LEH)Bloomberg News reports that two more big banks -- JPMorgan Chase (NYSE: JPM) and Morgan Stanley (NYSE: MS) have made offers of $7 billion to 30,000 holders of Auction Rate Securities (ARS) -- those long-term securities whose yields reset in weekly ...
According to Reuters and The New York Post, T. Boone Pickens' BP Capital hedge fund was down 35% in July. The fund manages $7 billion. Of course, that loss is probably only on paper. Pickens could get himself in trouble on oil prices. He is bullish enough to be promoting wind energy as an alternative, preaching to anyone who will listen. In the meantime crude has fallen from $143 to $117, not g...
From Marketwatch:The U.S. trade deficit narrowed by 4.1% to $56.8 billion in June on record exports and a decline in non-oil imports, the Commerce Department estimated Tuesday......The balance of trade has been declining for nearly two years, the result of the dollar slipping in value against other global currencies as well as weaker demand at home.Exports have been keeping the economy afloat, ...
Annelena Lobb reports: (Getty Images) Investors in Russian stock markets have plenty to reckon with. Besides the week-old Russia-Georgia war, there are ongoing struggles between oil company TNK-BP’s two 50-50 shareholders (British Petroleum and a group of Russian billionaires); Vladimir Putin’s recent public criticism of steel and coal producer Mechel OAO, which stirred up fears of ...