Free Trial!
Today’s Best Stocks To Trade! Click Here
Jun 27, 2008 -- Elleipsis Global Travel Solutions, Inc. (Other OTC: EGTS), through its wholly owned subsidiary, Elleipsis, Inc., announced a deal to provide its TravelTalk travel booking solution to AllRes.com, an online travel agency specializing in deeply discounted consolidator airfares, known as "net" fares. Initial projections are expected to easily exceed 50,000 booking transactions per year based upon the site's unique pricing model, its online marketing campaign and exclusive airfare offerings from a major global airfare consolidator. The new travel web site will launch next week with an integrated online and viral marketing campaign as well as cross-promotions with other travel-related sources to drive traffic and build a steady stream of repeat customers. AllRes.com will initially launch with net airfare offerings as well as published fares drawn from the major Global Distribution Systems (GDS). The company plans to expand its discount products to include cruise packages by the 4th quarter of 2008. The discount cruise packages and booking engine will also be powered by Elleipsis' TravelTalk solution. TravelTalk will facilitate all transactions for the site. "With TravelTalk's easy-to-use reservation system and the site's exclusive net airfares, AllRes.com is the ultimate discount airfare destination," said Diane Byman, President of Elleipsis. "Today's global traveler looks for price and convenience. AllRes.com's discount pricing and aggressive marketing push will position the site as a serious player for online travel." Elleipsis Global Travel Solutions secures travel fares through its agreements with the major Global Distribution Systems (GDS), including Amadeus, Sabre and Galileo as well as international consolidators. Its customizable product offering, named TravelTalk , is an industry-leading travel reservation and booking solution that simplifies the airfare search and booking process, enabling easy and secure transactions for online travel agencies. Aligned for the global travel markets, TravelTalk is available in several international languages, and can facilitate transactions in foreign currencies.
June 27, 2008 -- STILLWATER MINING COMPANY (NYSE: SWC | Quote | Chart | News | PowerRating) reported that it is continuing its meetings and negotiations with the USW International Union for a new labor agreement. During this period of negotiation, the parties have agreed to extend the expiration of the existing agreement until 11:59 p.m. (MDT) on Thursday, July 10, 2008. In the meantime, operations continue as normal. Although, the company and the union are working hard to achieve a timely renewal of the agreement satisfactory to both parties, there can be no assurances that such a renewal will be made on a timely basis. If an agreement is not reached, the company's ability to continue its normal operations could be affected. Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and the Russian Federation. The Company's shares are traded on the New York Stock Exchange under the symbol SWC.
June 27, 2008 - Spectra Energy (NYSE: SE | Quote | Chart | News | PowerRating) The Board of Directors of Spectra Energy today announced that Greg Ebel, currently Spectra Energy's Chief Financial Officer (CFO), has been selected to succeed Fred Fowler as President and Chief Executive Officer upon Fowler's retirement at the end of 2008. Ebel has also been elected to Spectra Energy's Board of Directors effective immediately. Paul Anderson, Chairman of the Board of Directors said, "Some time ago, Fred advised the Board of his intention to retire at the end of this year. We are announcing his successor at this time to allow for a smooth transition and to allow Greg the opportunity to develop the company's 2009 budget and underlying strategy for 2009 and beyond that he will be responsible for delivering. Fred will continue to be responsible for delivering the company's 2008 commitments." "When Spectra Energy was launched in early 2007, it was Fred's intention to focus his leadership efforts in three main areas: successfully launching the new company, developing a strategy to deliver long-term value and growth for shareholders, and developing his successor," continued Anderson. "He has done an outstanding job in achieving the first two objectives and will complete the third objective through a smooth transition."
June 27, 2008 -- SAP AG (NYSE: SAP | Quote | Chart | News | PowerRating) McKool Smith, PC, the national intellectual property and commercial litigation firm, is announcing an $83.3 million settlement reached on behalf of supply-chain technology provider i2 Technologies Inc. The settlement resolves i2's patent litigation against Germany's SAP AG and its United States subsidiary, Newtown Square, Penn.-based SAP America Inc. Under the terms of the agreement made public yesterday, June 26, 2008, SAP will pay $83.3 million to i2 to resolve the lawsuit filed in September 2006 in the U.S. District Court for the Eastern District of Texas. In the litigation, i2 asserted that SAP had infringed seven patents covering software programs related to supply chain planning, electronic negotiation, collaboration, and available-to-promise product management. The McKool Smith team representing i2 included firm principals Ted Stevenson, Sam Baxter, and David Sochia, and firm associates Jill Bindler, Chris Bovenkamp, Steve Callahan, Bo Davis and Scott Hejny.
June 27, 2008 -- ATP Oil & Gas Corporation (NASDAQ: ATPG | Quote | Chart | News | PowerRating) announced that it has closed a new senior secured term loan facility. Key components of the facility include: Reducing its first lien senior secured term loan from $1.20 billion to $1.05 billion and extending maturity by over four years from April 2010 to July 2014. Eliminating the $210 million subordinated loan with an all-in interest rate of 15%. Adding a $600 million asset sale facility that enables ATP to accomplish its previously announced deleveraging goal. T. Paul Bulmahn, Chairman and CEO of ATP Oil & Gas Corporation, stated, "The new term facility provides two very important pieces of capital for ATP. First, it puts in place a truly long-term, six-year financing of $1.05 billion at rates that are extremely competitive in today's market. This facility will provide ATP the ability to continue to execute its plans for development and acquisitions for the next several years. Secondly, and equally important, the new facility provides an asset sale facility that will enable ATP to reduce its debt by $600 million in the near term in accordance with the 2008 ATP Employee Challenge goals established in March 2008. We are well under way in our program to monetize value already created in our property, platform and infrastructure assets."
June 27, 2008 -- GlaxoSmithKline (NYSE: GSK | Quote | Chart | News | PowerRating) New data offer hope for migraine sufferers who report that they have poor response or are intolerant to their migraine therapy. Two studies of migraineurs who reported that they had poor response to, or did not tolerate, short-acting triptans, showed that treatment with Treximet provided sustained pain-free results at two through 24 hours and was generally well-tolerated. These studies were presented today at the 50th Annual Scientific Meeting of the American Headache Society in Boston. "This information is important to people who have tried and have not yet found relief from short-acting triptans," stated Ninan Mathew, M.D., director of the Houston Headache Clinic and lead author of the study. "Patients often need to try several medications before finding a therapy that is effective. Migraine sufferers should not be discouraged if the first treatment they try doesn't provide the relief they need, but rather should speak with their doctor and re-evaluate their migraine treatment." These data also underscore the benefits of Treximet, a prescription treatment that addresses both the early and late stages of a migraine. Treximet, the only migraine treatment designed to target multiple mechanisms of migraine by combining a triptan and an anti-inflammatory pain reliever in a single tablet, was approved by FDA in April of this year.
Friday's record oil prices fed the dour mood on Wall Street and cast a shadow on positive consumer spending data. In turn, the major indices each closed lower, extending the week's losses. Week-to-date, the S&P 500 lost 2.9%, the Dow Jones Industrials Average lost 4.1%, and the Nasdaq fell 3.8%. Crude prices rallied all the way to $142.99 per barrel to set a new all-time intraday high. In the end, prices eased as oil closed slightly higher at $140.25 per barrel on the Nymex. Crude prices are up more than 45% year-to-date. Financials finished the session as the worst performing sector. The sector closed 1.3% lower, as every one of its industry components finished lower, except insurance brokers (+1.9%). For the week, financials lost 6.5%. Merrill Lynch grabbed its share of attention as reports indicated the firm may incur additional write-downs and may sell its stake in BlackRock. Speculation of write-downs had limited affect on shares of MER, given that Goldman Sachs made the same inference yesterday. On a similar note, American International Group will likely be hit with write-downs of its own, which may result in a loss, according to Bloomberg.com. On the earnings front, Accenture reported better-than-expected results for its most recent fiscal quarter. The company also issued upside guidance for the coming quarter and increased its full-year outlook. That was about the extent of the day's positive earnings news as Micron Technology and KB Home reported larger-than-expected losses for the latest quarter. According to Financial Times, InBev is making a hostile bid for Anheuser-Busch after Anheuser-Busch rejected the Belgian brewer's offer for being inadequate and contrary to shareholders' best interest. The day's primary economic release was largely overlooked. Real personal consumption expenditures (PCE) data for May were up 0.4%. April was revised upward to a 0.2% increase. In turn, the second quarter average of April and May data 0.5% above the first quarter average, which is already a 2% annual rate of growth. Since another gain is likely in June, due to spending resulting from the fiscal stimulus, this puts real PCE on track to post a 2.5% annual rate of growth in the second quarter. Recall, PCE represents approximately 70% of GDP. The University of Michigan's final consumer confidence survey for June came in at 56.4, which is a bit below expectations and last month's reading. The June reading marks a new multiyear low. Note that the depressed survey results do not coincide with a similar drop in PCE.DJ30 -106.91 NASDAQ -5.74 NQ100 +0.0% R2K -0.0% SP400 -0.4% SP500 -4.77 NASDAQ Adv/Vol/Dec 1154/3.15 bln/1735 NYSE Adv/Vol/Dec 1165/2.24 bln/1969.
ABOUT INVESTSOURCE, INC.: WIN an 8 day 7 nights Caribbean Getaway, GO TO: www.investsourceinc.com.
To hear "The Fastest 60 Seconds in the Small-Cap Market," please go to www.ceo-corner.com This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation to buy or sell securities. InvestSource, Inc. has prepared all material herein based upon information believed to be reliable. The information contained herein is not guaranteed by InvestSource, Inc. to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this release have not given an opinion or approved the statements made in this release.
InvestSource, Inc. is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. InvestSource, Inc. affiliates, officers, directors and employees may also have bought, or may buy the shares discussed in this opinion and may profit in the event of a rise in value. InvestSource, Inc. will not advise as to when it decides to sell and does not, and will not, offer any opinion as to when others should buy or sell; each investor must make that decision based on his or her judgment of the market. Please consult your broker before purchasing or selling any securities mentioned herein. InvestSource has agreed to be compensated $500 for services rendered. To view full disclaimers, please go to http://investsourceinc.com/php/disclaimer.php (disclaimers).
CONTACT: InvestSource, Inc WWW: http://www.investsourceinc.com
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
