DrStockPick.com Stock Report!
Wednesday August 5, 2009
The Dow Chemical Company (NYSE: DOW) and Townsend Kokam LLC today announced their proposed joint venture, Dow Kokam, has been awarded a $161 million federal grant from the U.S. Department of Energy (DOE) to develop a new generation of high-power battery technology to supply the automotive industry and power the next generation of hybrid and electric vehicles.
Rackspace(R) Hosting (NYSE:RAX), the world’s leader in hosting, announced today that John Engates, Chief Technology Officer, will present at the 11th Annual Pacific Crest Technology Leadership Forum in Vail, CO on Monday, August 10, 2009 at 9:30 a.m. Mountain Standard Time.
Adept Technology, Inc. (Nasdaq:ADEP), a leading provider of intelligent vision-guided robotics and global robotics services, today announced it is expanding its distribution channel in Japan. Adept has signed Nihon Kizai as its newest distributor to cover the Japanese market. Japan is the world’s largest robotics market according to the International Federation of Robotics (IFR).
Deerfield Capital Corp. (NYSE Amex: DFR) today announced that, on July 31, 2009, the Company entered into three supplemental indentures (the “Supplemental Indentures”) with the holders of the trust preferred securities issued by each of Deerfield Capital Trust I, Deerfield Capital Trust II and Deerfield Capital Trust III (collectively, the “Trust Preferred Securities”). The Supplemental Indentures amend the consolidated net worth covenants (the “Net Worth Covenants”) contained in the indentures governing the Trust Preferred Securities to (i) permanently decrease the net worth required by the Net Worth Covenants from $175 million to $50 million and (ii) provide that the initial measurement date for compliance with the Net Worth Covenants will be September 30, 2012. These provisions supersede the temporary waiver of the Net Worth Covenants obtained from the holders of the Trust Preferred Securities in November 2008. The Supplemental Indentures also contain provisions preventing the Company from incurring additional indebtedness and declaring additional dividends or distributions on its capital stock, in each case for the life of the Trust Preferred Securities and except as specifically permitted under the terms of the Supplemental Indentures.
Convergys Corporation (NYSE: CVG), a global leader in relationship management, announced today a new partnership with Yucheng Technologies Limited (NASDAQ: YTEC), a leading, China-based IT solutions provider to the Chinese banking industry, that will enable it to sell Convergys’ Intervoice [R] Edify Voice Interaction Platform (EVIP) and Convergys Dynamic Decisioning Solution in China.
Phillips-Van Heusen Corporation (NYSE: PVH) today announced that it will release its second quarter 2009 results on Wednesday, August 19, 2009 after the market closes. PVH will sponsor a conference call on Thursday, August 20, 2009 at 9:00 A.M. Eastern Time, hosted by Emanuel Chirico, Chief Executive Officer, Allen Sirkin, President and Chief Operating Officer and Michael Shaffer, Executive Vice President and Chief Financial Officer. The purpose of the call is to discuss PVH’s second quarter 2009 earnings results.
Source: E-Gate System from Alphatrade.com
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