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Business News Archive - July 22, 2009

MALIBU, Calif., July 22 /PRNewswire/ -- Leon Cooper, a WWII Naval officer who took part in six battles during his three years in the Pacific, says the above headline is America's Shame.

ROCHESTER HILLS, Mich., LOS ANGELES, Calif., and LONDON, July 22 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc.

All financial figures are unaudited and in Canadian dollars unless noted otherwise. Certain financial measures referred to in this document are not prescribed by Canadian generally accepted accounting principles (GAAP).

FORT SMITH, Ark., July 22 /PRNewswire-FirstCall/ -- Arkansas Best Corporation (Nasdaq: ABFS) today announced a second quarter 2009 net loss of $15.4 million, or $0.62 per diluted share, compared to net income of $16.2 million, or $0.63 per diluted share, in the second quarter of 2008."The effects of lower freight levels and a competitive pricing environment that has intensified since the first quarter were the main challenges faced by our company in the second quarter.

LONDON, July 22 /PRNewswire/ -- The nascent Russian navigation and telematics market is witnessing a reversal of trends, with global positioning system (GPS)-enabled smartphone technology gaining ground over traditional portable navigation devices (PND).

CALGARY, July 22 /PRNewswire-FirstCall/ - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC), today announced that it has received a letter (the "KRG Letter") from the Minister of Natural Resources of the Kurdistan Regional Government (the "KRG") and has confirmation from Sinopec International Petroleum Exploration and Production Corporation ("SIPC") that receipt of this letter satisfies the condition to the offer for Addax Petroleum dated July 9, 2009 (the "Offer") made by Mirror Lake Oil and Gas Company Limited, an indirect wholly-owned subsidiary of SIPC, that Addax Petroleum obtain the KRG Letter. The Offer is subject to a number of conditions including valid acceptances by holders of not less than 66 2/3 per cent of Addax Petroleum shares on a fully diluted basis and receipt of certain regulatory approvals, including the government of The People's Republic of China.

LEHIGH VALLEY, Pa., July 22 /PRNewswire-FirstCall/ -- Air Products (NYSE: APD) today reported income from continuing operations of $115 million, or diluted earnings per share (EPS) from continuing operations of $0.54, for its fiscal third quarter ended June 30, 2009.

SEATTLE, July 22 /PRNewswire-FirstCall/ -- L & L International Holdings, Inc.

LUDWIGSHAFEN, Germany, July 22 /PRNewswire/ -- Lots of products out there capitalize on the antibacterial effects of silver. Everything from cleaning cloths and insoles to washing powder and bandages - they all seem to employ the element in some way.

ATLANTA, July 22 /PRNewswire-FirstCall/ -- Delta Air Lines (NYSE: DAL) today reported financial results for the June 2009 quarter. Key points include:Delta's net loss for the June 2009 quarter was $199 million, excluding $58 million in merger-related expenses(1), or $0.24 loss per share.

Word of the Day
negawatt
  • A unit of saved energy.
Coined by Amory Lovins, chairman of the Rocky Mountain Institute as a contraction of negative watt on the model of similar compounds like megawatt.