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www.PicksThatMove.com: "Picks that move" Alerts, November 03, 2009: NAL, WIN, DOW, PFE, SWI and HNT
(M2 PressWIRE Via Acquire Media NewsEdge) Picksthatmove.com Alerts include NewAlliance Bancshares, Inc. (NYSE: NAL); Windstream Corporation (NYSE: WIN); The Dow Chemical Company (NYSE: DOW); Pfizer Inc (NYSE: PFE); SolarWinds(R) (NYSE: SWI) and Health Net, Inc. (NYSE: HNT)
-- November 03, 2009 NewAlliance Bancshares, Inc. (NYSE: NAL) at $10.80 on a volume of 245,429 shares
In a press release on November 03, NewAlliance Bank Announces the Formation of a New Asset-Based Lending Business
Commercial Finance Veterans Moser and O'Rourke to Lead New Division
NEW HAVEN, Conn., Nov 03, 2009 NewAlliance Bank, a subsidiary of NewAlliance Bancshares, Inc. (NYSE: NAL), announced today the formation of a new asset-based lending business, and the appointment of Andrew H. Moser and Daniel F. O'Rourke to lead the new division. Mr. Moser will report directly to NewAlliance Chairman and CEO Peyton R. Patterson, and Mr. O'Rourke will report to the bank's Executive Vice President and Chief Credit Officer, Donald T. Chaffee.
The new line of business, called NewAlliance Commercial Finance, expands the bank's business lending offerings to include revolving lines of credit and term loans secured by accounts receivable, inventory, and other assets. NewAlliance Bank is well capitalized and poised to expand its lending capabilities to business customers seeking relevant, flexible capital solutions beyond traditional commercial lending.
About NewAlliance Bank
NewAlliance Bank is a New Haven, Connecticut headquartered regional banking and financial services company. It is the third largest bank in Connecticut and fourth largest headquartered in New England. In addition to offering a full range of personal and commercial banking products and services, NewAlliance Bank also provides trust services and investment and insurance products and services. On September 30, 2009 the Company had $8.5 billion in assets and $4.9 billion in deposits. The Bank's website is www.newalliancebank.com.
About NewAlliance Bancshares, Inc.
NewAlliance Bancshares, Inc. (NewAlliance) is the bank holding company of its wholly owned subsidiary, NewAlliance Bank (the Bank). NewAlliance Bank provides commercial banking, retail banking, consumer financing, trust and investment services through 89 banking offices and 105 automated teller machines (ATMs). NewAlliance delivers financial services to individuals, families and businesses throughout Connecticut and Western Massachusetts. The Company's offices are located throughout New Haven, Middlesex, Hartford, Tolland, Windham and Fairfield Counties in Connecticut and Hampden and Worcester Counties in Massachusetts.
-- November 03, 2009 Windstream Corporation (NYSE: WIN) trading at $9.72 on a volume of 1.19M shares
In a press release on November 03, Windstream to Acquire NuVox
Advances strategy to grow broadband and business revenues, which will represent more than half of total revenue after the transaction closes
LITTLE ROCK, Ark., Nov 03, 2009 Drives free cash flow accretion in first full year through $30 million in annual expense and capital savings and lowers dividend payout ratio --Adds approximately 90,000 business customers in complementary markets in 16 states across the Southeast and Midwest Windstream Corporation (NYSE: WIN) announced today that it has entered into a definitive agreement to acquire NuVox, Inc., a privately held competitive local exchange carrier based in Greenville, S.C., in a transaction valued at approximately $643 million.
Windstream expects to issue approximately 18.7 million fixed shares of stock valued at $183 million, based on Windstream's closing stock price on Nov. 2, 2009, and pay approximately $280 million in cash as part of the transaction. Windstream also will assume estimated net debt of approximately $180 million. Windstream intends to finance the acquisition with existing cash and current capacity on its revolving credit agreement.
About Windstream Corporation
Windstream Corporation (Windstream) is a provider of telecommunications services in rural communities in the United States. The Company owns subsidiaries that provide local telephone, high-speed Internet, long distance, network access, and video services in 16 states. As of December 31, 2008, Windstream served more than three million communications customers in 16 states. Additionally, Windstream provides data services to more than 978,000 high-speed Internet customers. Windstream delivers one-stop shopping to customers with a range of communications products and services that include voice and related features, high-speed Internet, long distance, network access and video. The Company's operations consist of its wireline and product distribution segments. On November 21, 2008, Windstream completed the sale of its wireless business to AT&T Mobility II, LLC.
-- November 03, 2009 The Dow Chemical Company (NYSE: DOW) trading at $23.61 on a volume of 3.90M shares.
In a press release out on November 03, Merszei Named President of Dow Europe, Middle East and Africa, and Chairman of Dow Europe
Weideman Named Interim Chief Financial Officer
MIDLAND, Mich., Nov 03, 2009 In an effort to further strengthen its geographic presence and connection with key markets and customers, The Dow Chemical Company (NYSE: DOW) announced today that Geoffery E. Merszei, Executive Vice President and Chief Financial Officer, will move to a new role as President of Dow Europe, Middle East and Africa, while also serving as Chairman of Dow Europe, and Executive Vice President of The Dow Chemical Company, reporting to Andrew N. Liveris, Chairman and Chief Executive Officer. Merszei has served as the Company's Chief Financial Officer for the past five years. He will relocate to the Company's European Headquarters in Horgen, Switzerland.
Merszei will also assume additional responsibility as chair of the Company's newly established Geographic Leadership Council. The Council's function is to ensure Dow builds upon its robust global franchise by building strong relationships with partners and customers and continuing its track-record of making growth investments throughout world. Membership of this Council will be announced shortly.
About Dow
Dow is a diversified chemical company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in approximately 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. In 2008, Dow had annual sales of $57.4 billion and employed approximately 46,000 people worldwide. The Company has 150 manufacturing sites in 35 countries and produces approximately 3,300 products. On April 1, 2009, Dow acquired Rohm and Haas Company, a global specialty materials company with sales of $10 billion in 2008, 98 manufacturing sites in 30 countries and approximately 15,000 employees worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
-- November 03, 2009 Pfizer Inc (NYSE: PFE) last at $16.79 a volume of 19.14M shares
In a press release out on November 03, Pfizer And Medivation Initiate Two Phase 3 Trials Of Dimebon In Patients With Moderate-To-Severe Alzheimer's Disease
International Studies to Evaluate Effects of Dimebon in Combination Therapy: One in Patients on Background Donepezil, One in Patients on Background Memantine
NEW YORK & SAN FRANCISCO, Nov 03, 2009 Pfizer Inc (NYSE: PFE) and Medivation, Inc. (NASDAQ: MDVN) today announced the initiation of CONTACT and CONSTELLATION, two Phase 3 trials of the investigational drug dimebon (latrepirdine)* in patients with moderate-to-severe Alzheimer's disease (AD).
The CONTACT study will assess as primary endpoints the potential benefits of adding dimebon to ongoing treatment with donepezil HCI tablets, the leading AD medication worldwide, on neuropsychiatric symptoms and activities of daily living. The CONSTELLATION study will evaluate as primary endpoints the effects of adding dimebon to memantine HCI, another standard of care, on cognition, memory and activities of daily living.
About Pfizer Inc.
Pfizer Inc. (Pfizer) is a research-based, global pharmaceutical company. The Company discovers, develops, manufactures and markets prescription medicines for humans and animals. It operates in two business segments: Pharmaceutical and Animal Health. Pfizer also operates several other businesses, including the manufacture of gelatin capsules, contract manufacturing and bulk pharmaceutical chemicals. In June 2008, Pfizer completed the acquisition of all remaining outstanding shares of common stock of Encysive Pharmaceuticals, Inc. through a merger of Pfizer's wholly owned subsidiary, Explorer Acquisition Corp., with and into Encysive. In June 2008, it also completed the acquisition of Serenex, Inc., a biotechnology company with a Heat Shock Protein 90 development portfolio. In July 2009, Pfizer bought back a 29.52% stake in its Indian arm, Pfizer Limited, increasing its stake to 70.75%.In October 2009, Pfizer Inc. acquired Wyeth.
-- November 03, 2009 SolarWinds(R) (NYSE: SWI) last at $17.37 on a volume of 203,700 shares
In a press release out on November 03, SolarWinds Releases Latest Version of Its Most Popular Free Tool -- TFTP Server
TFTP Server Provides Time-Saving File Transfer and Back-Up Features, a Useful Tool for Network Engineers Who Are Looking to Execute Outstanding Configuration Tasks Before the New Year
AUSTIN, TX, Nov 03, 2009 SolarWinds(R) (NYSE: SWI), a leading provider of powerful, simple and affordable network management software to more than 88,000 customers worldwide, announced today the latest update to its most popular free tool, SolarWinds TFTP Server. TFTP Server, which has been a part of the SolarWinds product line-up since 1998, is a well-trusted, reliable and secure solution for network engineers to back up configurations, change community strings, and run IOS updates as they prepare for the year ahead.
About SolarWinds
SolarWinds provides powerful, simple and affordable network management software to more than 88,000 customers worldwide -- from Fortune 500 enterprises to small businesses. Focused on the real-world needs of network professionals, SolarWinds products are downloadable, easy to use and maintain, and provide the power, scale, and flexibility needed to manage today's complex network environments. SolarWinds' growing online community, thwack, is a gathering-place for problem-solving, technology-sharing, and participating in product development for all of SolarWinds' products. Learn more today at http://www.solarwinds.com.
-- November 03, 2009 Health Net, Inc. (NYSE: HNT) trading at $15.85 on a volume of 756,316 shares
In a press release out on November 03, Health Net Reports Third Quarter 2009 Adjusted(1) Net Income of $69.6 Million, or $0.67 per Diluted Share
The Company Recorded $189.5 Million in Pretax Charges, Including $170.6 Million in Asset Impairments Related to the Pending Sale of Its Northeast Division
LOS ANGELES, Nov 03, 2009 Charges Cause GAAP Net Loss of $66.0 Million, or $0.64 Per Share Health Net, Inc. (NYSE: HNT) today announced a third quarter 2009 GAAP net loss of $66.0 million, or $0.64 per share. GAAP net income in the third quarter of 2008 was $18.5 million, or $0.17 per diluted share.
The third quarter 2009 GAAP results include the effect of two pretax charges: 1. $170.6 million in noncash charges for the impairment of goodwill and other assets related to the pending sale of the company's Northeast division; and 2. $19.5 million related to the company's operations strategy that is designed to reduce general and administrative (G&A) expenses.
Both of these charges were offset by a favorable $0.6 million litigation reserve true-up. A reconciliation of non-GAAP financial measures on the income statement is included with this press release. Excluding the impact of the charges, net income in the third quarter of 2009 was $69.6 million, or $0.67 per diluted share. Net income in the third quarter of 2008 was $37.8 million, or $0.35 per diluted share, excluding the impact of a $17.1 million pretax charge related to the company's operations strategy and a $14.6 million pretax charge for impairment of the company's investments.
About Health Net
Health Net, Inc. is among the nation's largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company's health plans and government contracts subsidiaries provide health benefits to approximately 6.6 million individuals across the country through group, individual, Medicare, Medicaid and TRICARE and Veterans Affairs programs. Health Net's behavioral health subsidiary, MHN, provides mental health benefits to approximately 6.5 million individuals in all 50 states. The company's subsidiaries also offer managed health care products related to prescription drugs, and offer managed health care product coordination for multi-region employers and administrative services for medical groups and self-funded benefits programs.
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