DrStockPick.com Stock Report!
Tuesday September 8, 2009
Flow International Corporation (Nasdaq: FLOW), the world’s leading developer and manufacturer of industrial waterjet machines for cutting and cleaning applications, today announced that it has closed the public offering of 7,825,000 of its common shares at $2.10 per share. Net proceeds from the offering are approximately $14.9 million. Flow has granted the underwriter an option to purchase up to an additional 1,173,750 shares of common stock at the public offering price, less the underwriting commission, within 30 days following pricing.
PSEG Power LLC, a wholly-owned subsidiary of Public Service Enterprise Group Incorporated (NYSE: PEG), announced today the expiration and results of its offer (the “exchange offer”) to eligible holders to exchange any and all of the outstanding 8.50% Senior Notes due 2011 (the “Energy Holdings notes”) of its affiliate, PSEG Energy Holdings, L.L.C., held by them for newly-issued PSEG Power 5.32% Senior Notes due 2016 (the “Power notes”), fully and unconditionally guaranteed by PSEG Power’s three principal operating subsidiaries (the “subsidiary guarantees”), plus a cash payment plus a cash early participation payment, if eligible.
Commercial Vehicle Group, Inc. (Nasdaq: CVGI) announced today that it has been awarded a new contract to supply Navistar Inc.’s Heavy Truck Product Group with interior trim products. CVG plans to produce the new interior airline cabinets and other materials at the Company’s Trim Products facility in Concord, North Carolina. The start of production is scheduled to begin in the first quarter of 2010. The additional Navistar business is expected to generate between $4 and $5.5 million in annual revenues based on sales forecasts for next year.
As the celebration of Grandparent’s Day marks its 30th anniversary, American Greetings Corp. (NYSE: AM) has introduced a fun, memorable and innovative way to say thanks with the new recordable photo frame card. These displayable cards allow the sender to not only add a photo of the recipient’s adorable grandchildren, but also add their voices, which can be played back with the push of a button. The new offering is particularly appropriate for the holiday, because it focuses on what is most important for any grandparent, their grandchildren.
Aeolus Pharmaceuticals, Inc. (OTC Bulletin Board:AOLS) announced today that it has initiated a study to confirm the efficacy of AEOL 10150 as a countermeasure to nuclear and radiological exposure in non-human primates. AEOL 10150 has previously demonstrated a statistically significant survival advantage when given to mice after exposure to radiation. The new study is designed to test the efficacy of AEOL 10150 as a treatment for damage to the lungs due to exposure to radiation and to begin establishing an animal model that can be validated and could be utilized by the U.S. Food and Drug Administration (US FDA) for approval of a countermeasure for Pulmonary Acute Radiation Syndrome under the “Animal Rule”.
Dale Jarrett Racing Adventure, Inc. (OTC Bulletin Board: DJRT), a “Full Throttle” lifetime experience company, today commented on material mid-quarter accomplishments for the company. As of August 31st, the company has recorded a 14% increase in year-to-date sales over 2008. This report also gives the company the opportunity to highlight some related accomplishments. First, over the course of the past 8 months the company has been building an ongoing relationship with a new international corporate client. We can now report that total revenues from this growing relationship have surpassed $250,000 this year as we continue to plan new outings for this year and beyond. To respond to this growing vertical market, we have increased our sales staff and established a dedicated corporate marketing division. This team of experienced sales people will focus exclusively on expanding our growing list of satisfied corporate clients.
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