Penny Stock Multicell Technologies Inc ( OTC: MCET ), has logged an upside of more than 350% after the news that company's stem cell isolation patent to treat liver diseases was granted We have announced a strong move alert when stock was just 120% up and recommended buy positions for decent gains on the penny stock. Read our alert
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Stockholders of Essar Shipping Ports and Logistics will get two shares of Essar Ports and one of Essar Shipping for every three shares they hold as part of a plan to divide the first company into two independent operating units.
It also announced a new management structure for the two companies once they are listed.
Essar Shipping Ports, which has a share capital of 6.15 billion rupees, will start trading as Essar Ports with a reduced capital of 4.10 billion rupees and the remaining 2.05 billion rupees will form the share capital of Essar Shipping, which is expected to list subsequently.
Essar Shipping Ports on Monday said the demerger process was completed after it received approvals from the relevant authorities. The committee fixed May 19 as the record date for the share swap.
Post demerger, Essar Shipping Ports will be known as Essar Ports, while the shipping, logistics and oilfield businesses will be spun off into a separate company called Essar Shipping. The company is expected to get listed separately at the end of June.
![[iessar0510]](http://si.wsj.net/public/resources/images/OB-NV457_iessar_D_20110509235420.jpg)
An aerial view of the Essar port at Hazira in the western Indian state of Gujarat. Essar's shipping and port operations will be split into two separate units.
The two units of Essar Shipping Ports -- Essar Ports and Terminals and Essar International-- that were merged into one in September last year, will come under Essar Ports while the sea transportation and oil field activities of these units will come under Essar Shipping.
Rajiv Agarwal will become the managing director of Essar Ports, K.K. Sinha its chief executive officer and Shailesh Sawa chief financial officer.
A. R. Ramakrishnan will become the managing director of Essar Shipping once it is listed. Anoop Sharma, the chief executive of the sea transportation division, Ankur Gupta chief executive of the oilfields business, and Rahul Himatsingka will head the logistics unit. Vikram Gupta will be the chief financial officer of Essar Shipping.
"Now there is a clear management structure for Essar Shipping and Essar Ports," said Kapil Yadav, a research analyst at Dolat Capital Market Pvt.
"[Essar Shipping Ports and Logistics] was not able to get the real valuation even as it had the port portfolio," he said. The company was only getting valuation intended for shipping, which was low. With the demerger, the management is expecting to increase the valuation."
He did not comment on the share-swap deal.
Essar's ports unit will be the second largest private sector port company in India with 88 million tons per annum of current capacity, with a target to reach 158 tons by 2013, the company said in a release. The company had committed 93 billion rupees toward this business, of which 61.5 billion rupees has been invested already.
The company expects Essar Shipping to become the second-largest shipping and oilfield services company in the private sector.
• AVEO Pharmaceuticals, Inc. (AVEO) Enters into Worldwide License Agreement with Centocor Ortho Biotech Inc.; AVEO Receives $15 Million; Eligible for up to $540 Million More...
• AstraZeneca PLC (AZN), Heptares In Study Pact Targeting GPCR Drugs;Heptares to Receive $6.25 Million Upfront More...
• Generex Biotechnology Corporation (GNBT) in Agreement to License RapidMist(TM) Technology for $10 Million to Amarantus BioSciences for Use With Its Proprietary MANF Proteins More...
• Deinove Achieves The First Key Milestone In The Deinol Project And Receives E1.6 Million From OSEO More...
• SAIC-Frederick, Inc. (SAI) and Biomatrica Collaborate to Improve Molecular Analysis in Cancer Research More...
• Future Bleak for Renovo Group Plc (RNVO.L) With No Workers or Products More...
• JB Chemicals & Pharmaceuticals Limited to Hire About 800 Medical Representatives in 2 Years More...
• Intrexon Corporation Raises $100 Million for Synthetic Biology InitiativesMore...
• EpiCept Corporation (EPCT) Obtains New $10.6 Million Secured Debt Financing More...
• Ashland to Acquire International Specialty Products More...
• A New Chief Executive Officer to Strengthen BioAlliance Pharma's Growth More...
• Segal Institute for Clinical Research Announces Appointment of Dr. Leslie Penny Moldauer as Corporate Chief Medical Officer More...
• Peregrine Pharmaceuticals, Inc. (PPHM) Appoints Jeffrey Masten as Vice President, Quality as Company Advances Phase II Clinical Programs More...
• Derycz Scientific Hires AstraZeneca PLC (AZN) Executive to Drive Global Sales Growth More...
• Acasti Pharma Year End Results More...
• Medicago, Inc. Announces 2011 First Quarter Results More...
• Triclinic Labs Adds New Laboratory Space and Chemical Development Capabilities More...
• Sanofi (France) (SASY.PA)'s Diabetes Drug Cuts Blood Sugar, Weight-Study More...
• Eli Lilly and Company (LLY) Presents Data on Cixutumumab in Five Subtypes of Sarcomas More...
• UCB Group (UCBJF.PK) Release: New Analysis Shows Potential Cost Savings of Adding Antiepileptic Drug Vimpat® C-V More...
• Aegerion Pharmaceuticals, Inc. Announces Phase III 56-Week Data in HoFH Patients Taking Investigational Lomitapide is Consistent With 26-Week Data More...
• Teva Pharmaceutical Industries Limited (TEVA) Announces Data on Granulocyte Colony Stimulating Factor Compounds for the Prevention of Chemotherapy-Induced Neutropenia in Breast Cancer Patients More...
• FDA Approves Optimer Pharmaceuticals, Inc. (OPTR)'s Dificid, a Treatment For Clostridium Difficile Infection More...
• FDA Approves Oceana Therapeutics's Solesta(R); Novel Specialty Therapeutic Addresses Large Treatment Void for Patients with Life-Altering Fecal (Bowel) Incontinence More...
• Affymax, Inc. (AFFY) and Takeda Pharmaceutical Co. Ltd. (TKDG.DE) Announce the Submission of a New Drug Application for Peginesatide for the Treatment of Anemia Associated with Chronic Renal Failure in Patients on Dialysis More...
• No Link Between Stress and MS in Women, According to University of Bergen Study More...
• Combo of Paxil, Pravachol May Raise Blood Sugar, Stanford University Study More...
• Bacteria Police Keep Cheaters in Line, Proceedings of the National Academy of Sciences Study More...
• Drug Can Reverse Overgrown Hearts to Help Prevent Heart Failure, UT Southwestern Medical Center Researchers Find More...
• Mutated Muscle Protein Causes Deafness, Max Planck Institute Research More...
( Source: Biospace )
• AstraZeneca PLC (AZN), Heptares In Study Pact Targeting GPCR Drugs;Heptares to Receive $6.25 Million Upfront More...
• Generex Biotechnology Corporation (GNBT) in Agreement to License RapidMist(TM) Technology for $10 Million to Amarantus BioSciences for Use With Its Proprietary MANF Proteins More...
• Deinove Achieves The First Key Milestone In The Deinol Project And Receives E1.6 Million From OSEO More...
• SAIC-Frederick, Inc. (SAI) and Biomatrica Collaborate to Improve Molecular Analysis in Cancer Research More...
• Future Bleak for Renovo Group Plc (RNVO.L) With No Workers or Products More...
• JB Chemicals & Pharmaceuticals Limited to Hire About 800 Medical Representatives in 2 Years More...
• Intrexon Corporation Raises $100 Million for Synthetic Biology InitiativesMore...
• EpiCept Corporation (EPCT) Obtains New $10.6 Million Secured Debt Financing More...
• Ashland to Acquire International Specialty Products More...
• A New Chief Executive Officer to Strengthen BioAlliance Pharma's Growth More...
• Segal Institute for Clinical Research Announces Appointment of Dr. Leslie Penny Moldauer as Corporate Chief Medical Officer More...
• Peregrine Pharmaceuticals, Inc. (PPHM) Appoints Jeffrey Masten as Vice President, Quality as Company Advances Phase II Clinical Programs More...
• Derycz Scientific Hires AstraZeneca PLC (AZN) Executive to Drive Global Sales Growth More...
• Acasti Pharma Year End Results More...
• Medicago, Inc. Announces 2011 First Quarter Results More...
• Triclinic Labs Adds New Laboratory Space and Chemical Development Capabilities More...
• Sanofi (France) (SASY.PA)'s Diabetes Drug Cuts Blood Sugar, Weight-Study More...
• Eli Lilly and Company (LLY) Presents Data on Cixutumumab in Five Subtypes of Sarcomas More...
• UCB Group (UCBJF.PK) Release: New Analysis Shows Potential Cost Savings of Adding Antiepileptic Drug Vimpat® C-V More...
• Aegerion Pharmaceuticals, Inc. Announces Phase III 56-Week Data in HoFH Patients Taking Investigational Lomitapide is Consistent With 26-Week Data More...
• Teva Pharmaceutical Industries Limited (TEVA) Announces Data on Granulocyte Colony Stimulating Factor Compounds for the Prevention of Chemotherapy-Induced Neutropenia in Breast Cancer Patients More...
• FDA Approves Optimer Pharmaceuticals, Inc. (OPTR)'s Dificid, a Treatment For Clostridium Difficile Infection More...
• FDA Approves Oceana Therapeutics's Solesta(R); Novel Specialty Therapeutic Addresses Large Treatment Void for Patients with Life-Altering Fecal (Bowel) Incontinence More...
• Affymax, Inc. (AFFY) and Takeda Pharmaceutical Co. Ltd. (TKDG.DE) Announce the Submission of a New Drug Application for Peginesatide for the Treatment of Anemia Associated with Chronic Renal Failure in Patients on Dialysis More...
• No Link Between Stress and MS in Women, According to University of Bergen Study More...
• Combo of Paxil, Pravachol May Raise Blood Sugar, Stanford University Study More...
• Bacteria Police Keep Cheaters in Line, Proceedings of the National Academy of Sciences Study More...
• Drug Can Reverse Overgrown Hearts to Help Prevent Heart Failure, UT Southwestern Medical Center Researchers Find More...
• Mutated Muscle Protein Causes Deafness, Max Planck Institute Research More...
( Source: Biospace )
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| Daily Digest Stockinvestips |
Upgrades for May 31 2011 Tuesday:
1) AMAG Pharma ( NASDAQ: AMAG ) upgraded from neutral to outperform by Robert W. Baird.
2) Commvault Systems ( NASDAQ:CVLT ) upgraded from neutral to positive by Avian.
3) Motricity ( NASDAQ : MOTR) upgraded from Underperform to Sector Perform by RBC Capital Mkts.
4) Travelzoo ( NASDAQ : TZOO) upgraded from Market Perform to Outperform by Morgan Keegan.
See More
Downgrades for May 31 2011 Tuesday:
1) Dreamworks Animation ( NASDAQ: DWA ) downgraded from buy to Above Average by Caris & Company.
2) Full Circle Capital ( NASDAQ : FULL ) downgraded from buy to neutral by Ladenburg Thalmann.
3) Impax Labs ( NASDAQ : IPXL) downgraded from Outperform to Sector Perform by RBC Capital Mkts.
4) Lions Gate Entertainment ( NYSE : LGF) downgraded from Average to Below Average by Caris & Company.
5) Medtronic ( NYSE : MDT) downgraded from Hold to Sell by Argus.
6) Wisconsin Energy ( NYSE : WEC ) downgraded from Buy to Hold by Argus.
See More
Coverage Initiated for May 31 2011 Tuesday:
1) Aeterna Zentaris ( NASDAQ: AEZS ) coverage initiated with buy by Needham.
2) Air Lease ( NYSE: AL) coverage initiated with sector perform by RBC Capital Mkts.
3) Ardea Biosciences ( NASDAQ : RDEA) coverage initiated with Outperform by Boenning & Scattergood.
4) Mission NewEnergy ( NASDAQ: MNEL ) coverage initiated with Market Perform by Rodman & Renshaw.
5) Orrstown Financial Services ( NASDAQ: ORRF ) coverage initiated with Neutral by Boenning & Scattergood.
6) Sagent Pharma ( NASDAQ: SGNT) coverage initiated with Outperform by RBC Capital Mkts.
7) Tesoro Logistics LP ( NYSE : TLLP ) coverage initiated with Outperform by RBC Capital Mkts.
See More here at stockinvestips
Tech Five: Technology Headlines for March 31 2011 ( Tuesday ) !!
1. There're big rumors Twitter is to reveal its own photo-sharing service today, linked to its own API and using its own facilities. It's another "internalizing" move by the successful social networking site, but it's bound to raise significant controversy--especially since TwitPic, one of the leading third party sites that used to do this for Twitter, just (controversially) signed a deal to license users' pics onward for sale. Their business model may be in tatters.
1. There're big rumors Twitter is to reveal its own photo-sharing service today, linked to its own API and using its own facilities. It's another "internalizing" move by the successful social networking site, but it's bound to raise significant controversy--especially since TwitPic, one of the leading third party sites that used to do this for Twitter, just (controversially) signed a deal to license users' pics onward for sale. Their business model may be in tatters.
2. Samsung has revealed it's sold one million Galaxy SIIs, and the device has only been on sale one month--making it Samsung's fastest selling device. Meanwhile the company's execs have dismissed Apple's lawsuit alleging the Galaxy range of products are rip-offs of the earlier iPhone and iPads, noting it's not "legally
problematic" as their products don't "copy" Apple. Samsung's even hinting it could escalate the legal battle.
3. On the weekend it emerged that U.S. defense contractors had been hit with hack attacks, and now the Pentagon has escalated its response: Cyber attacks coming from another country, it threatens, can actually constitute an act of war--with all the requisite force that involves. Late last week it was revealed that China has assembled an elite cadre of hackers to defend its military Net from the influence of outsiders, and it's possible to see how this could also be construed as a threat.
4. ARM has revealed hints on its future direction, and plans to have its low-power CPUs in half of the mobile PC market by 2015. It's banking on expansion of the tablet sector at the expense of the laptop market, because it already has a huge share of tablet CPUs and Intel hasn't yet leaped into the fray. Meanwhile it looks like Intel is delaying the launch of its key next-gen 22nm "3-D transistor" laptop chips, which could enable ARM's plans.
5. A quarter of U.S. Internet users have now made a phone call online--up from a mere 8% just four years ago. It's a sign that thanks to the VoIP revolution, and changing habits driven by increased cell phone use, traditional phone use is potentially on its way into history. The statistic is important for many communications companies, but particularly Microsoft which just invested billions in Skype, the driving force behind much of consumer VoIP use.
( Source: Fast Company )
( Source: Fast Company )
Nokia Corp ( NYSE: NOK ) announced that company will see weaker sales and slashes outlook for 2011, shares tumble as much as 15 % to $ 6.92.
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| Nokia Corp |
Nokia, once the undisputed force in the mobile phone market, has seen its position challenged in recent years, particularly losing ground in the smartphone market to newcomers Apple Inc and Google Inc.
The company, which is still the number one handset maker by volume, has overhauled its phone business, adopting Microsoft Corp's software instead of its own Symbian platform.
But it continues to suffer from mounting competition and said in a profit warning it expects net sales from its devices and services business in the second quarter to be "substantially below" its previous forecast of between 6.1 billion euros ($8.7 billion) and 6.6 billion.
It expected its non-IFRS operating margin for devices and services to be around break-even in the second quarter, rather than previously expected range of 6 percent to 9 percent.
"This update is primarily due to lower than previously expected average selling prices and mobile device volumes," the company said.
"Given the unexpected change in our outlook for the second quarter, Nokia believes it is no longer appropriate to provide annual targets for 2011," it said, adding it would still provide quarterly updates.
"Given the internal turmoil that will be generated by this news, it is increasingly difficult to see that Nokia can leapfrog one handset generation and be on par with the competition in early 2012. Investors should be more than concerned about the dividend possibility," said WestLB analyst Thomas Langer.
"It seems like it's especially their emerging markets exposure in China where they are hit by competition in the low end of the market," said Sydbank analyst Morten Imsgard.
"Short term, there's a lot of turmoil in the company."
The warning comes a month after Nokia said it would cut 7,000 jobs and outsource its Symbian software development unit to cut costs.
( Source: Reuters )
MultiCell Technologies Inc ( NASDAQ: MCET ) , a biotech firm is granted a patent by US Patent and Trademark Office. Patent is about the isolation and use of human liver stem cells to treat liver disease. Penny Stock soared more than 120 % and might keep going higher. Traders might trade the stock with buy positions at current levels and might get handsome returns. Strong Move Alert, On radar at stockinvestips.
Below is the news fro Reuters:
MultiCell Technologies, Inc. announced the issuance of U.S. patent 7,935,528 by the United States Patent and Trademark Office (USPTO) relating to the isolation and use of human liver stem cells to treat liver disease. Under the terms of its license agreement with Rhode Island Hospital, MultiCell Technologies is the worldwide exclusive licensee of U.S. patent 7,935,528. The patent describes methods to isolate and use human liver stem cells to treat degenerative liver diseases, or inherited deficiencies of liver function.
Eltek Reports Net Profit of $788,000 in First Quarter of 2011, Below is the key figures. Stock jumped more than 30 %.
• Revenues increased 22.9% to $11.8 million • Operating profit of $877,000
• Net profit of $788,000
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| Eltek Ltd |
Eltek Ltd (NASDAQ:ELTK), the leading Israeli manufacturer of advanced flex-rigid circuitry solutions, announced today its financial results for the first quarter of 2011.
Revenues for the first quarter of 2011 were $11.8 million, a 22.9% increase over revenues of $9.6 million recorded in the first quarter of 2010.
Gross Profit for the first quarter of 2011 was $2.5 million (21% of revenues), an increase of 139% compared to the gross profit of $1.0 million (10.8% of revenues) in the first quarter of 2010.
Operating Profit for the first quarter of 2011 was $877,000 compared with an operating loss of $559,000 in the first quarter of 2010.
Net Profit for the first quarter of 2011 was $788,000, or $0.12 per fully diluted share, compared with a net loss of $682,000 or ($0.10) per fully diluted share in the first quarter of 2010.
Apple said Chief Executive Steve Jobs, who has been on medical leave, will "kick off" the company's annual developers conference June 6.
The brief statement issued Tuesday did not make clear what role Jobs would play at the conference or whether he would be coming back from medical leave.
An appearance by Jobs, a survivor of pancreatic cancer, would mark one of the few occasions he's been seen in public on the company's behalf since he went on his third medical leave in January.
( Source: Reuters )
( Source: Reuters )
Agilysys Inc ( NASDAQ: AGYS ) announced to sell its Technology Solutions Group business to OnX Enterprise Solutions for about $64 million. Stock soared more than 34% with substantial volumes based on news. It might be a good trading call to initiate buy positions at this levels as up move looks stronger.
Below is the detailed news:
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| Agilysys Inc |
( Source: Reuters )
