Industry News

Caterpillar Inc.' s 2016 second-quarter numbers and the results look pretty good. Profit per share of $1.09 beat Wall Street estimates by a solid 13 cents, while sales and revenues of $10.3 billion bested Street expectations by $280 million. But the devil is in the details, and it's clear all Peoria-based Caterpillar knows these days are sad songs."/>
Caterpillar continues struggle in second quarter [Herald & Review, Decatur, Ill.]
Jaiprakash Power Ventures Ltd, part of the debt-laden Jaypee Group, on Tuesday said its lenders have recommended the invocation of strategic debt restructuring. The power producer will be the second group company after Jaiprakash Associates Ltd, where lenders have recommended or discussed invoking SDR. "The lenders are planning on an SDR in the power arm because it allows them some time to manage a standard asset classification."/>
Jaiprakash Power lenders to invoke strategic debt revamp [Mint, New Delhi]
Jaiprakash Power Ventures Ltd of Rs.656 crore and Rs.2, 272.46 crore to' D' or a default rating from' B'. The agency also reaffirmed its' D' rating on long-term bank facilities of Rs.12, 241.53 crore. Care Ratings also said it has withdrawn Jaiprakash's Rs.2, 272.46 crore bank facilities pertaining to its Bina thermal power plant from its credit watch."/>
Care Ratings downgrades bank facilities of Jaiprakash Power to 'D' [Mint, New Delhi]
Anixter International, a supplier of wire and cable, said it's seeing a "persistent slow global growth environment" and is cutting about 150 jobs, although its second-quarter earnings results were better than expected. The Glenview-based company, which said it's striving for "ongoing expense discipline," in late 2015 completed the acquisition of the power solutions business from HD Supply for $829.4 million. In the second quarter of 2016, Anixter took pretax charges..."/>
Glenview-based Anixter cutting 150 jobs after deal, sees slow global growth [Chicago Tribune]
Xpress, a restaurant that opened last fall at Railroad Square, has closed after 10 months in business. The restaurant specialized in French-toast breakfasts with thick slices of bread toasted and spread with a variety of toppings. Owner Cindy Scott opened Toast Xpress Sept. 29 at 10 Railroad Square in a space that formerly housed Glass Express, a business that had been there for many years."/>
Toast Xpress closes in Waterville [Morning Sentinel, Waterville, Maine]
Huron Consulting Group Inc. has entered into an agreement to acquire Quincy, Massachusetts-based healthcare information technology specialists Healthcare Services Management, Inc., the company said. Terms of the acquisition, which is expected to close in August 2016, were not disclosed. Together, Huron and HSM expect to cover a range of EHR technology solutions."/>
Huron Consulting Group to Acquire Healthcare IT Specialist HSM Consulting
Xerium Technologies, Inc., a leading global provider of industrial consumable products and services, today announced the pricing of its $480 million aggregate principal amount of 9.500% Senior Secured Notes due 2021. The Notes will be issued at a price equal to 98.540% of their face value. The Notes will pay interest semi-annually in arrears on February 15 and August 15 of each year beginning on February 15, 2017 and will mature on August 15, 2021, unless..."/>
Xerium Technologies, Inc. Announces Pricing of Senior Secured Notes Offering
Spirit Airlines will begin regular flights from Akron-Canton Airport to several Florida destinations in November. The airport and airline officials announced the additional service Tuesday morning. Akron-Canton officials said they have worked 10 years to get Spirit to offer service here."/>
Spirit Airlines to begin flying to Florida from Akron-Canton [The Repository, Canton, Ohio]
Caterpillar Inc. once again announced diminished sales for the second quarter of the year and pointed to soft global markets and political turmoil as reasons for a dim outlook for the remainder of the year. The company's second quarter report also indicated additional layoffs are expected in the second half of 2016-- beyond the massive round of thousands of job cuts announced late in 2015. Those positions do not appear to be centered in any one area but will include..."/>
Caterpillar Inc. expects more layoffs after disappointing second quarter [Journal Star, Peoria, Ill.]
Tutor Perini Corporation, a leading civil and building construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Tuesday, August 2, 2016, to discuss the Company's second quarter results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive Vice President and CFO. The Company plans to distribute its earnings announcement the same day after the market close."/>
Tutor Perini Announces Conference Call to Discuss Second Quarter Results
Ballard Power Systems today announced its consolidated financial results for the second quarter ended June 30, 2016. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards."/>
Ballard Reports Second Quarter 2016 Results
Ballard Power Systems today announced that Zhongshan Broad-Ocean Motor Co., Ltd. has entered into a strategic collaboration with Ballard which includes a $28.3 million equity investment in Ballard, representing 9.9% of the company following the transaction. Founded in 1994, Broad-Ocean is headquartered in the City of Zhongshan in Guangdong Province and is..."/>
Ballard Announces Strategic Collaboration and Equity Investment Deal With Broad-Ocean
Ballard Power Systems today announced that Zhongshan Broad-Ocean Motor Co., Ltd. has entered into a strategic collaboration with Ballard which includes a $28.3 million equity investment in Ballard, representing 9.9% of the company following the transaction. Founded in 1994, Broad-Ocean is headquartered in the City of Zhongshan in Guangdong Province and is listed on..."/>
Ballard Announces Strategic Collaboration and Equity Investment Deal With Broad-Ocean
Orion Energy Systems, Inc., a leading designer and manufacturer of high-performance, energy-efficient retrofit lighting platforms, today announced that it will hold its Fiscal 2017 first quarter results conference call for analysts and investors on Tuesday, August 2, 2016, at 4:30 p.m. Eastern Time. The earnings announcement release is scheduled to be issued after the close of the market. Orion's Chief Executive Officer, John Scribante, and Chief..."/>
Orion Energy Systems Schedules Fiscal 2017 First Quarter Financial Results and Conference Call
Kansas City Southern announced today that it has received 100% participation in and has completed registered exchange offers of:. $244,820,000 in aggregate principal amount of its Floating Rate Senior Notes due 2016, registered under the Securities Act of 1933, as amended, for any and all of its outstanding unregistered Floating Rate Senior Notes due 2016; $257,346,000 in aggregate principal amount of its 2.35% Senior Notes due 2020, registered under the..."/>
KCS Receives 100% Participation in Its Registered Exchange Offers for $2.088 Billion of Senior Notes
Duke Energy's rapid turn to natural gas to fuel its power plants is contributing to slightly cheaper electricity for its Charlotte customers. Gas supplies are outstripping demand, so prices have dropped to historic lows. Duke expects gas prices to be 32 percent cheaper over the next year than they were in 2015.."/>
Why your electric bill drops when natural gas prices do [The Charlotte Observer]
Joy Global Inc. in connection with the proposed acquisition of the Company by Komatsu Ltd.. On July 21, 2016, the Company announced that it had reached a definitive agreement for Komatsu to acquire all outstanding shares of JOY in a transaction valued at $3.7 billion, inclusive of debt. Under the terms of the agreement, JOY..."/>
Joy Global Inc. Acquisition May Not Be in the Best Interests of JOY Shareholders

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