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Jun 27, 2008 -- Anviron (PINKSHEETS: ANVH), organically grown and profitable, was founded in 2008 as a spinoff of LS Industries. Anviron is a company dedicated to bringing to market "Clean Solutions to Complex Problems" by offering a wide range of environmentally friendly products and technologies that will improve safety for individuals and conserve energy. The company manufactures and markets a proprietary line of all-purpose, highly effective, non-toxic, biodegradable soil enhancement products to the multi-billion dollar consumer household, commercial, industrial and private-label agricultural product industries. Anviron's biodegradable products and technologies encompass environmentally friendly chemical substitutes to the hazardous chemicals commonly used all over the world, with a focus on the agriculture, agro-forestry, water and soil remediation, beach/dune restoration, water desalinization and energy conservation industries. For information about Anviron and its product offerings visit us on the web at www.anviron.com.
Jun 27, 2008 -- SpongeTech Delivery Systems, Inc. (OTC BB: SPNG) announced that today it has signed a seasonal sports advertising contract for radio advertising time beginning today June 27, 2008 at 2:00 pm and ending October of 2008 for broadcasts on WCBS of the New York Yankees. SpongeTech Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for the automotive aftermarket parts industry. These sponge-based products utilize SpongeTech's proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. SpongeTech 's COO, Steven Moskowitz. "As I have said before, the company is working to continue increasing brand recognition within the New York tri- state area among millions of listeners that travel and listen to the New York Yankees baseball games. Our marketing and brand awareness campaign efforts have been increasing SpongeTech's product visibility and building a strong customer base. We have been experiencing an increase in sales due to this regional program, and look forward to building out the brand at a national level. The Company will continue to provide insight to sales and revenue growth as well as corporate developments in upcoming announcements."
Jun 27, 2008 -- Specialty chemicals maker Albemarle Corporation (NYSE: ALB), a leading global manufacturer of life-saving flame retardant products, will increase prices worldwide for its NcendX P-30 flame retardant up to 25 percent effective immediately, or as contracts allow. In addition, all extended price validity for this product is being eliminated. The price increases are necessary to further offset large increases in energy and elemental phosphorous costs. "Rising energy and material costs continue to put pressure on this product, particularly the dramatically increasing cost of elemental phosphorous," said Annemie Donkers, Albemarle business manager for flame retardants for circuit boards and enclosures. "We will continue to closely monitor supply chain economics to ensure we provide maximum value and superior products for our clients." NcendX flame retardants, part of Albemarle's Polymer Additives segment, add life-saving properties to materials used in TV housings and other electronic enclosures.
Jun 27, 2008 -- The Shaw Group Inc. (NYSE: SGR | Quote | Chart | News | PowerRating) announced today that its Maintenance Group has been awarded a contract by Appalachian Power, a unit of American Electric Power, to provide all phases of construction services to refurbish and upgrade an existing electrostatic precipitator located at the Amos Power Plant near Charleston, W.Va. The project will assist AEP in its program to reduce emissions from its existing coal-fueled generating fleet. Shaw's work includes reinforcement of the electrostatic precipitator's inlet gas ducts and installation of a mitigation system to reduce gas phase sulfuric acid emissions. The refurbishment is expected to be completed in December 2008. The value of Shaw's contract approximates $50 million and will be included in the company's third quarter fiscal year 2008 backlog of unfilled orders. "This project is another important opportunity to provide solutions that enhance clean fossil energy production in the United States," said Ron McCall, president of Shaw's Maintenance Group. "Our work at the Amos plant again demonstrates the skill and experience offered by Shaw in its commitment to helping clients maximize the production of fossil-power assets while reducing emissions."
Market Wrap for June 27th, 2008
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 (MER 32.70, -0.35) grabbed its share of attention as reports indicated the firm may incur additional write-downs and may sell its stake in BlackRock (BLK 177.64, -3.06). Speculation of write-downs had limited affect on shares of MER, given that Goldman Sachs made the same inference yesterday. According to Financial Times, InBev is making a hostile bid for Anheuser-Busch (BUD 62.26, +0.91) 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.
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