Petroleum Consolidators of America (Pinksheets: PCAI) Closed at $0.09. A gasoline station/convenience store operator, today announced that it has signed a letter of intent to acquire a 45% working interest in an oil well in the highly prolific areas of Scott, Fentress and Morgan Counties, Tennessee, U.S.A.
The well, which is projected to produce between 6 and 12 barrels of sweet light crude per day, offers PCAI immediate cash flow and a short-term return on its investment. We believe that investing in this asset will also offer us the opportunity to see price appreciation as crude moves higher. Furthermore, the operator will begin the process of equipping the well for the sale of natural gas which we believe will also be produced.
Petroleum Consolidators President and CEO David Cohen stated: "We are extremely excited to have been able to enter into this letter of intent and look forward to finalizing the acquisition in the next 60 days." Additionally, Cohen stated, "This marks an additional development in diversifying our revenue stream and although this achievement does not generate a multi-million dollar revenue stream, we see this as the first step in the rung of a tall ladder of further oil well expansion."
What They Do: Petroleum Consolidators of America, Inc. is a gasoline station/convenience store operator which is implementing a targeted acquisition strategy to create a portfolio of consolidated retail gasoline facilities, producing oil wells and a wholesale fuel distributorship that will benefit from substantial operating efficiencies.
How They Trade: PCAI has a 52 week high of $0.99 and a 52 week low of $0.03.
JA Solar Holdings Co (Nasdaq: JASO) Closed at $3.01. Today announced its updated revenue and shipment guidance for the year ending Dec. 31, 2009. The company said that worldwide macro economic conditions, tight credit markets and resulting issues with project financing are negatively impacting the solar industry, causing JA Solar to lower its expectations for business in 2009. The company currently expects 2009 revenue to be in the range of RMB 5,668 million or $830 million, to RMB 6,500 million or $952 million. JA Solar's target for total production output is now 500 MW to 550 MW. The nameplate production capacity by year-end 2009 is now expected to be 875 MW.
What They Do: JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar cells. The company sells its products to solar manufacturers worldwide, who assemble and integrate solar cells into modules and systems that convert sunlight into electricity for residential, commercial, and utility-scale power generation.
How They Trade: JASO has a 52 week high of $27.00 and a 52 week low of $1.55.
AsiaInfo Holdings (Nasdaq: ASIA) Closed at $10.58. Today announced financial results for the fourth quarter and full-year ended December 31, 2008. Total revenues for the fourth quarter of 2008 were US$53.7 million, an increase of 31.7% year over year and 19.8% sequentially. Meeting guidance, net revenue (Non-GAAP) for the fourth quarter of 2008 was US$51.0 million, an increase of 45.4% year over year and 19.3% sequentially. The year-over-year and sequential increases were primarily driven by strong performance in both the telecom and IT security businesses.Net income excluding share-based compensation expense, amortization of acquired intangible assets, impairment loss on investment, after-tax dividend income and gain on discontinued operations (net income (Non-GAAP)(4)) was US$10.2 million in the fourth quarter of 2008 or US$0.23 per basic share. Net income (Non-GAAP) in the year-ago period was US$8.3 million or US$0.18 per basic share. Net income (Non-GAAP) in the previous quarter was US$7.6 million or US$0.16 per basic share. Net income (Non-GAAP) increased 22.6% year over year and 34.4% sequentially.
What They Do: AsiaInfo Holding, Inc. provides telecom software solutions and information technology (IT) security products, and services to telecommunications service providers in China.
How They Trade: ASIA has a 52 week high of $14.93 and a 52 week low of $6.74.
Delphi Financial Group (NYSE: DFG) Closed at $13.90. Today announced that its operating earnings in the fourth quarter of 2008 were $17.0 million or $0.35 per share, compared to $42.3 million or $0.82 per share in the fourth quarter of 2007. Operating earnings for the full year 2008 were $94.4 million or $1.93 per share, compared to $167.2 million or $3.24 per share in the full year 2007. Annualized operating return on beginning equity (2) in the fourth quarter 2008 was 7.6% compared to 14.4% in the fourth quarter of 2007.
What They Do: Delphi Financial Group, Inc. is an integrated employee benefit services company. Delphi is a leader in managing all aspects of employee absence to enhance the productivity of its clients and provides the related group insurance coverages: long-term and short-term disability, life, excess workers’ compensation for self-insured employers, travel accident, dental and limited benefit health insurance.
How They Trade: DFG has a 52 week high of $38.50 and a 52 week low of $7.58.
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