WALL STREET JOURNAL: Lockheed Martin Corp. (LMT) is expected to beat out Boeing (BA) for an approximate $1.8B contract to from the U.S. Air Force to build a new generation of navigation satellites, the Wall Street Journal reported…According to the Wall Street Journal, former American International Group (AIG) CEO Maurice R. “Hank” Greenberg is pressing the troubled insurer to turn the company around. He says that he and other major shareholders have “deep concern about the persistent and seemingly endless destruction of value at AIG.”…FINANCIAL TIMES: Hybrid Capital Second, a Morgan Stanley (MS) investment vehicle, increased its stake in internet start-up Livedoor to 18.15% from 12.76% in March, the Financial Times reported, superseding the company’s founder, Takafumi Horie… TELEGRAPH: After it incurred $3.2B of bad debts in the first three months of the year, the Telegraph reported that Knight Vinke, an HSBC (HBC) shareholder, has renewed calls for the bank to shed its U.S. consumer finance business…
20% wind energy by 2030-Pacific Business News
The U.S. Department of Energy issued a report saying that wind power could generate 20% of U.S. electricity needs by 2030. Although it could dramatically reduce greenhouse gases and enhance our energy security, significant challenges will need to be overcome. Improved turbine technology, significant changes in transmission systems, and larger expanded markets to buy the power are needed in order to meet the goals that the department has set forth.
Nymex members may kill Chicago Mercantile takeover deal-NY Post
New York Mercantile Exchange (NMX) members are going to attempt to torpedo the exchange’s acquisition by CME Group’s (CME) Chicago Mercantile Exchange, unless Chicago Mercantile raises its offer by a significant amount, according to The Post.
Canadian Solar-CSIQ reports Q1 EPS 65c ex items vs. consensus of 31c
Reports Q1 revenue $171.2M vs. consensus of $151.88M. The company remains on track to achieve prior guidance of shipping 200 -220MW of regular solar modules in 2008.
CSIQ sees Q2 revenue $185M-$190M vs. consensus of $167.62M
Shipments for Q208 are expected to be approximately 45MW, including some tolling business.
Actionable.
LDK: Reiterate Strong Buy following Q1 EPS upside@NEED
Needham notes that Q1 EPS beat consensus by 6c and that construction of the two polysilicon plants are on track. They find the stock undervalued at current levels and maintain a $95 target.
Fed Chairman Bernanke in a speech in Washington said the financial markets are still far from normal but that he sees better conditions in them. The Chairman also said the Fed is ready to raise the size of the TAF auctions if needed. The markets also got a boost from better than expected earnings from Wal-Mart (WMT), and the announcement that Hewlett-Packard (HPQ) offered to buy EDS Corp. (EDS) for $25 a share in a deal valued at $13.9B.
