Editor’s Note: Related tickers: Caterpillar Inc.(NYSE:CAT), General Electric Company (NYSE:GE), Alcoa Inc (NYSE:AA), DryShips Inc. (NASDAQ:DRYS)
General Electric Company : Afraid of the Dark? Let GE Help You Keep the Power On (4-Traders)
How many of us keep a flashlight in the nightstand or a set of matches and candles just in case? Rather than face what goes bump in the night, we reach for something to provide light and power… General Electric Company (NYSE:GE)‘s Power Conversion business will showcase its latest in electrical house (E-house) technology at Offshore Europe in Aberdeen, U.K., from September 3-6, at booth 5B70. The new energy efficient E-house includes an anti-blackout solution, which is an advanced automation system that manages the electrical power availability and distribution for equipment on FPSOs.
Caterpillar warns workers to expect reduced bonus payments (PJStar)
Area retailers shouldn’t look for a big stimulus package from Caterpillar Inc.(NYSE:CAT) next spring. The company has warned workers that performance-based incentive payments will be down as much as 40 percent from last year. Caterpillar’s “pay-at-risk” compensation program is tied to the company’s financial performance and targets established by management. Caterpillar Inc.(NYSE:CAT)’s short-term incentive plan, based on sales and earnings through the second quarter, will be $500 million, said spokesman Jim Dugan, noting that the company plan paid out $825 million for the 2012 year (paid in March of this year).
Alcoa dissolves Evermore, combines buyers (AMM)
Alcoa Inc (NYSE:AA) has merged Evermore Recycling LLC, its used beverage can (UBC) procurement group, with its aluminum scrap purchasing group to form a single operation called Alcoa Recycling. Barely a year after acquiring Novelis Inc.’s equal stake in the Evermore joint venture (amm.com, July 16, 2012), Alcoa has now combined both teams to task all its buyers with procuring every aluminum scrap grade it consumes. Under Alcoa Recycling, buyers previously focused on UBC procurement for Evermore will be trained to also acquire non-UBC grades, while current non-UBC scrap buyers will be trained on UBC buying, has learned.
Alcoa Inc (NYSE:AA)’s expansion of operational facilities at Tennessee commenced (NYSEPost)
Alcoa Inc (NYSE:AA) had commenced the work related to the expansion of the company’s operational facilities at Tennessee on Thursday with a host of public officials and former employees joining hands with the CEO, Klaus Klenfield to break grounds for the $275 million project. This project for expansion of the manufacturing unit of the company is being taken up as part of the attempts to meet out the increase in demand for aluminium in the sector of automotive manufacturing. It is expected that the demand for this product of Alcoa Inc (NYSE:AA) would increase to twice its present demand by the year 2015.
DryShips: Ocean Rig Financing, Fleet and Contract Developments (NYSEPost)
DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk and petroleum cargos, through its majority owned subsidiary, Ocean Rig UDW Inc., an offshore deepwater drilling service company, made several company announcements. …Ocean Rig announced that it has signed a supplemental agreement to amend certain provisions in its $1.35 billion Senior Secured Facility dated February 28, 2013.
General Electric Company (GE) Attracts a Crop of Short-Term Bulls (SchaeffersResearch)
Bullish bettors took a shine to General Electric Company (NYSE:GE) yesterday, as roughly 48,000 calls crossed the tape during the course of the session. This was a 54% mark-up over the norm, and almost triple the number of puts exchanged. Also of note, the stock’s 30-day, at-the-money implied volatility was docked at 18.1% by Tuesday’s close, compared to a reading of 15.6% on Aug. 20. The weekly 9/6 23.50-strike call was the option du jour, as 15,527 contracts switched hands here for an volume-weighted average price (VWAP) of $0.05.
