Magnetek, Inc. to Announce Its Fiscal 2010 Results on August 19th

July 24, 2010 By Leave a Comment

MENOMONEE FALLS, Wis.–(Business Wire)–
On August 19, 2010, before commencement of trading on the New York Stock
Exchange, Magnetek, Inc. (“Magnetek” or “the Company”) (NYSE: MAG) will announce
the results of its 2010 fourth quarter and fiscal year, which ended on June 27,
2010. A conference call with Magnetek management will follow at 11:00 a.m.
Eastern Time.

The conference call will be webcast on the Investor Relations page of Magnetek`s
Web site at www.magnetek.com. Management`s presentations will be supplemented by
slides appearing on the Company`s Web site. Listeners are encouraged to view
these materials in conjunction with the call. Replays of the call will be
available on the Web site for a limited period of time.

The webcast is also being distributed through the Thomson Reuters StreetEvents
Network. Individual investors can listen to the call at www.earnings.com,
Thomson Reuters` individual investor portal. Institutional investors can access
the call at www.streetevents.com, Thomson Reuters` password-protected event
management site.

About Magnetek, Inc.

Magnetek, Inc. provides digital power and motion control systems used in
overhead material handling, elevator, and energy delivery applications. The
Company is North America`s largest supplier of digital drive systems for
industrial cranes, hoists, and monorails. Magnetek provides Energy Engineered®
drives, radio remote controls, motors, and braking and collision avoidance
subsystems to North America`s foremost overhead material handling crane
builders. The Company is also the world`s largest independent builder of highly
integrated digital motion control systems for high-rise, high-speed elevators.In
energy delivery, Magnetek develops and markets digital power inverters that
connect renewable energy sources to the utility grid, and is a leading
independent supplier of digital motion control systems for underground coal
mining applications. Magnetek is headquartered in Menomonee Falls, WI, in the
greater Milwaukee area and operates manufacturing facilities in Pittsburgh, PA,
and Canonsburg, PA, as well as Menomonee Falls.

This news release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including the timing of the
Company`s announcement of 2010 fourth quarter and fiscal year results.These
forward-looking statements are based on the Company’s expectations and are
subject to risks and uncertainties that cannot be predicted or quantified and
are beyond the Company’s control. Future events and actual results could differ
materially from those set forth in, contemplated by, or underlying these
forward-looking statements. Other factors that could cause actual events and
results to differ materially from expectations are described in the Company’s
reports filed with the Securities and Exchange Commission pursuant to the
Securities Exchange Act of 1934.

Lynn Bostrom
Director, Communications
Magnetek, Inc.
262-252-2903
lbostrom@magnetek.com

Copyright Business Wire 2010

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Seoul shares slip 0.8 pct as techs lose ground

July 23, 2010 By Leave a Comment

SEOUL, July 22 (Reuters) – Seoul shares fell on Thursday as blue chip technology stocks such as Samsung Electronics (005930.KS) slid amid mounting concerns a slowing global recovery may lead to a slump in sales.

The Korea Composite Stock Price Index (KOSPI) closed down 0.76 percent at 1,735.53 points. Domestic institutions were sellers of a net billion won worth of stocks amid high demand for equity fund redemptions.

Institutional investors were sellers of a net 176 billion won ($146.2 million) worth of stocks.

Foreign and domestic individual investors were buyers of combined a net 71 billion won worth.

“U.S. Federal Reserve Chairman Ben Bernanke’s comments enflamed uncertainty,” said Hong Soon-pyo, a market analyst at Daishin Securities. “Technology issues in particular are under heavier pressure as they have outperformed.”

Bernanke said the U.S. economic outlook was “unusually uncertain.” [ID:nN21165172]

Hynix shares have risen 37.6 percent this year. Samsung Electronics shares have gained 18 percent.

Hynix Semiconductor Inc (000660.KS) fell 4.2 percent after the company said NAND Flash memory chip prices were expected to be weak in the third quarter. [ID:nTOE66K08P]

“Investors are growing worried that Hynix’s third-quarter earnings momentum will slow. Chip pricing is seen weak, while shipment growth is not impressive,” said Han Seung-hoon, an analyst at Korea Investment & Securities.

Samsung Electronics (005930.KS), the world’s No.1 memory chip maker, shed 1 percent.

Shares in LG Display Co (034220.KS) declined 3 percent on ahead of its second-quarter earnings results, amid mounting concern over its second-half outlook, analysts said.

The world’s No. 2 flat panel maker on Thursday is expected to report that second-quarter net profit more than tripled from a year earlier to 744 billion won ($618.2 million), according to analysts polled by Thomson Reuters I/B/E/S.

“The second-half outlook is not so bright. Flat panel prices will probably continue to weaken,” said Hwang Joon-ho, an analyst at Daewoo Securities.

Hyundai Motor (005380.KS), South Korea’s top automaker, shed 2.6 percent.

But gains in shipbuilders gave market support as they rose on news of new orders and strong results.

Hyundai Heavy Industries Co (009540.KS) climbed 4.1 percent after the world’s No.1 shipbuilder said after trading ended on Wednesday that second-quarter net profit more than doubled to 910.5 billion won ($756.5 million). [ID:nTOE66I02R]

Daewoo Shipbuilding & Marine Engineering Co (042660.KS) gained 1.8 percent after saying it had won ship orders worth $1.2 billion from Neptune Orient Lines (NEPS.SI).

Korea Electric Power Corp (KEPCO) (015760.KS) rose 0.6 percent after the state utility said late on Wednesday that it would buy a 20 percent stake in Indonesia’s Bayan Resources PT (BYAN.JK) to secure more coal supplies. [ID:nSUL000115]

“This deal will boost KEPCO’s resource self-reliance, and help it generate electricity more cost effectively,” said Yoo Deok-sang, an analyst at NH Investment & Securities.

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Poland sets Tauron IPO value at $1.3 bln, near bottom

June 23, 2010 By Leave a Comment

June 22 (Reuters) – Poland set the issue price of its No.2 utility Tauron at 0.57 zlotys per share, near the bottom of its earlier range, to value the initial public offer at 4.2 billion zlotys ($1.3 billion) zlotys.

Utilities

The treasury ministry said in a statement on Tuesday it also had raised the stake for individual investors to 25 percent of the offer.

The report confirms an earlier report by Reuters. (Reporting by Patryk Wasilewski)

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NZ watchdog secures record payout to fund investors

June 23, 2010 By Leave a Comment

June 22 (Reuters) – New Zealand’s competition watchdog has secured a record compensation deal for investors over allegations that ANZ National Bank (ANZ.AX) and ING misrepresented the risk involved in two retail funds. A total of NZ$45 million ($32 million) will be paid to investors affected by the freezing of two ING funds in March 2008, in return for waiving legal action, the Commerce Commission said on Tuesday.

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At the time they were frozen, the funds were worth about NZ$533 million, and together had around 15,000 individual investors.

“In the Commission’s view, representations made by ANZ and ING concerning the degree of investment risk in the funds were likely to be misleading in that the actual risk was understated,” Commerce Commission Chairman Mark Berry said in a statement.

ANZ, which owns the New Zealand business of Dutch financial group ING (ING.AS), has said it already made available more than NZ$500 million to investors in the funds, after it offered a settlement in 2009.

“We apologise to those investors who felt we had misinformed them,” ANZ National Bank’s Acting Chief Executive Steven Fyfe said in a statement.

“While we do not agree with all of the Commission’s views we do agree that it is in the best interests of investors to avoid a lengthy court process,” Fyfe said.

Both the ING Diversified Yield Fund and ING Regular Income Fund invested largely in collateralised debt obligations, which were exposed to the U.S. subprime lending market, which collapsed, triggering the global financial crisis. ($1=NZ$1.41) (Reporting by Adrian Bathgate; Editing by Ed Davies and Ian Geoghegan))

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Timeline: South Korea’s foreign exchange regulations

June 14, 2010 By Leave a Comment

(Reuters) – South Korea unveiled on Sunday new curbs on financial institutions’ currency trading, saying it aimed to smooth volatile capital flows, particularly linked to short-term foreign borrowing.

South Korea

Following is a timeline of major changes in South Korea’s foreign exchange regulations after it had opened up its capital markets in several tranches following the 1997-98 Asian financial crisis.

————————————————————-

Nov, 2009 – The authorities announce a first set of tighter regulations on currency trading, including new standards for foreign exchange liquidity risk management, restrictions on currency forward transactions of non-financial companies, and mandatory minimum holdings of safe foreign currency assets by domestic banks.

July, 2009 – The minimum amount of deposits for foreign currency margin trade raised to 5 percent of transaction value from 2 percent in an effort to clamp down on speculative forex trading by individual investors.

June, 2008 – A $3 million limit on individual investment-purpose foreign property deals removed, a move seen as containing the won’s advance.

Dec, 2007 – The authorities ease currency forwards trade rules to help foreign investors mitigate risks from settlement mismatch, in the process of selling South Korean securities and futures positions, and exchanging the proceeds in the won into another currency.

- Exempts financial services companies from reporting foreign exchange-related over-the-counter derivative transactions to the authorities.

May, 2006 – Seoul bumps up South Korean banks’ currency position caps to 50 percent of own capital from 30 percent.

March, 2006 – Limit on South Korean banks’ currency positions set at 30 percent of own capital

Dec, 2005 – The authorities abolish a rule requiring permission prior to cross-border capital transaction.

Jan, 2004 – Seoul limits the ability of South Korean institutions to trade in non-deliverable forwards (NDF), in a move seen as easing upward pressure on the won.

June, 2002 – South Korea allows brokerage and insurance companies to participate in interbank foreign exchange market, and lets brokers initiate over-the-counter FX derivative trades.

(Reporting by Kim Yeon-hee; Editing by Tomasz Janowski)

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Cal Dive to Review First Quarter 2010 Earnings with Investors

April 16, 2010 By Leave a Comment

HOUSTON–(Business Wire)–
Cal Dive International, Inc. (NYSE:DVR) will conduct a conference call to
discuss its first quarter results on April 29, 2010 at 10:00 a.m. Central Time.
A press release summarizing these results is planned for distribution on April
28, 2010, after the market closes. The press release and conference call
presentation will be available immediately after publishing from the Investor
Relations page on the Cal Dive website at http://www.CalDive.com. A replay of
the call will also be available from the same page of the website.

The teleconference dial-in numbers are: (866) 831-6234 (domestic), (617)
213-8854 (international), passcode 42529434.

The webcast is also being distributed to both institutional and individual
investors through the Thomson/CCBN StreetEvents Network. Individual investors
can access the call via Thomson`s password-protected event management site,
StreetEvents at http://www.streetevents.com.

Cal Dive International, Inc., headquartered in Houston, Texas, is a marine
contractor that provides an integrated offshore construction solution to its
customers, including manned diving, pipelay and pipe burial, platform
installation and platform salvage services to the offshore oil and natural gas
industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast
Asia, China, Australia, the Middle East, India and the Mediterranean, with a
fleet of 31 vessels, including 21 surface and saturation diving support vessels
and 10 construction barges.

Cal Dive International, Inc.
Vice President of Finance
Brent Smith, (713) 361-2634

Copyright Business Wire 2010

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BSD Medical Retains Financial Profiles for Investor Relations

March 5, 2010 By Leave a Comment

SALT LAKE CITY–(Business Wire)–
BSD Medical Corporation (Nasdaq: BSDM) (“BSD or the “Company”), a leading
developer and manufacturer of medical systems that treat cancer with heat
therapy, today announced that it has retained Financial Profiles, Inc. to direct
a comprehensive investor relations program.

“We are making solid progress expanding our product lines to offer a range of
thermal systems in the United States and around the world for the treatment of
cancer, including both hyperthermia and ablation treatment systems,” said Harold
Wolcott, President of BSD. “It is time to communicate our progress and goals to
a wider audience. Consistent with the addition of highly respected and
accomplished executives to our management team in recent months, we have
retained Financial Profiles to lead a proactive investor communications
campaign.”

Financial Profiles will launch a series of initiatives to broaden the Company`s
following with portfolio managers, analysts, stockbrokers and individual
investors and to upgrade the Company`s scope and flow of investor information.
Financial Profiles will also serve as the primary contact for communications
with current and prospective shareholders.

“Led by a new, highly experienced senior management team, BSD is well-positioned
for success with a large and growing global market opportunity, patented
technology and existing and emerging product lines,” said Moira Conlon,
Principal, Financial Profiles. “We are looking forward to building greater
awareness of BSD`s business and growth strategies in the investment community.”

About Financial Profiles, Inc.

Financial Profiles is a communications consulting firm located in Los Angeles,
California, with expertise in investor relations and corporate and transaction
communications. Financial Profiles has significant experience working with large
public and small cap healthcare/medical device companies. Its solid foundation
in business and communications enables the firm to create effective
communications programs that help clients meet business objectives. The firm`s
investor relations practice helps companies address valuation issues,
communicate growth strategies to investors, and build Wall Street support. For
more information, please visit www.finprofiles.com.

About BSD Medical Corporation

BSD Medical Corporation develops, manufactures, markets and services systems to
treat cancer and benign diseases using heat therapy delivered using focused
radio frequency (RF) and microwave energy. BSD`s product lines include both
hyperthermia and ablation treatment systems. BSD`s hyperthermia cancer treatment
systems, which have been in use for several years in the United States, Europe
and Asia, are used to treat certain tumors with heat (hyperthermia) while
increasing the effectiveness of other therapies such as radiation therapy. BSD`s
microwave ablation system, which the Company will introduce to the market this
year, has been developed as a stand-alone therapy to employ precision-guided
microwave energy to ablate (remove or vaporize) soft tissue. The Company has
extensive intellectual property, multiple products in the market and well
established distribution in the United States, Europe and Asia. Certain of the
Company`s products have received regulatory approvals in the United States,
Europe and China. For further information, visit BSD Medical’s website at
www.BSDMedical.com.

Forward-Looking Statements

Statements contained in this press release that are not historical facts are
forward-looking statements, as defined in the Private Securities Litigation
Reform Act of 1995. All forward-looking statements are subject to risks and
uncertainties detailed in the Company’s filings with the Securities and Exchange
Commission. These forward-looking statements speak only as of the date on which
such statements are made, and the Company undertakes no obligation to update
such statements to reflect events or circumstances arising after such date.

BSD Medical Corporation
Dennis Gauger, 801-972-5555
Facsimile: 801-972-5930
investor@bsdmc.com

Copyright Business Wire 2010

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UPDATE 2-BlackRock to raise $5-7 bln to buy US toxic assets

April 16, 2009 By Leave a Comment

Would buy toxic assets from US firms under gov’t program

* Hopes $1 bln of $5 bln-$7 bln is from Japanese investors

* Returns over 20 pct, or losses, possible–BlackRock CEO (Updates with company comment, background)

NEW YORK, April 14 (Reuters) – BlackRock Inc (BLK.N) plans to raise $5 billion to $7 billion worldwide to buy toxic assets from U.S. financial institutions under a planned U.S. government program,

The fund manager hopes about $1 billion of that will come from Japanese institutional investors, BlackRock CEO Laurence Fink told the Nikkei financial daily in a report confirmed by a BlackRock spokeswoman.

The U.S. Treasury Department has given asset managers until April 24 to submit applications to participate in the Securities Public-Private Investment Funds Program, and BlackRock, one of the world’s largest fixed-income managers, will apply, the company spokeswoman said.

The government will say on May 15 who the handful of managers running the program will be.

Fink also said BlackRock planned to set up a retail fund in the United States to allow individual investors to participate in the Securities Public-Private Investment Funds Program.

He said investments in the toxic assets program could deliver returns of more than 20 percent if the financial system stabilized — but could also lead to losses if housing prices continued to fall.

The fund manager is also considering setting up an investment trust in Japan to tap into the massive savings of Japanese individuals, Fink told the Nikkei financial daily.

Under the framework announced for the toxic assets program, if BlackRock raised $5 billion, the Treasury Department would make a matching investment and would also provide a $10 billion loan, giving the fund $20 billion to buy troubled assets. (Reporting by Gerald E. McCormick and Svea Herbst-Bayliss; Editing by Ted Kerr, Gary Hill)

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BlackRock to raise $5-7 billion to buy U.S. toxic assets

April 16, 2009 By Leave a Comment

NEW YORK (Reuters) – BlackRock (BLK.N) plans to raise $5 billion to $7 billion worldwide to buy toxic assets from U.S. financial institutions under a planned U.S. government program,

The fund manager hopes about $1 billion of that will come from Japanese institutional investors, BlackRock CEO Laurence Fink told the Nikkei financial daily in a report confirmed by a BlackRock spokeswoman.

The U.S. Treasury Department has given asset managers until April 24 to submit applications to participate in the Securities Public-Private Investment Funds Program, and BlackRock, one of the world’s largest fixed-income managers, will apply, the company spokeswoman said.

The government will say on May 15 who the handful of managers running the program will be.

Fink also said BlackRock planned to set up a retail fund in the United States to allow individual investors to participate in the Securities Public-Private Investment Funds Program.

He said investments in the toxic assets program could deliver returns of more than 20 percent if the financial system stabilized — but could also lead to losses if housing prices continued to fall.

The fund manager is also considering setting up an investment trust in Japan to tap into the massive savings of Japanese individuals, Fink told the Nikkei financial daily.

Under the framework announced for the toxic assets program, if BlackRock raised $5 billion, the Treasury Department would make a matching investment and would also provide a $10 billion loan, giving the fund $20 billion to buy troubled assets.

(Reporting by Gerald E. McCormick and Svea Herbst-Bayliss; Editing by Ted Kerr, Gary Hill)

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SEBI panel for relaxed norms for derivative market

March 23, 2009 By Leave a Comment

Market regulator Security and Exchange Board of India plans to introduce new derivative products like lower-value contracts on individual stocks in the domestic derivative market in a bid to encourage retail investors in the option and future market.

The derivatives market review committee has recommended mini contract that would be fourth or a tenth in size of a normal derivative contract besides some measures to increase participation and liquidity in the market. Currently, the minimum contract value of mini-derivative contracts stands at Rs 1,00,000 against 2,00,000 for normal contracts.

SEBI’s Derivatives Market Review Committee, comprising ISB dean Rammohan Rao, Prakash G Apte, Nachiket Mor, Chitra Ramakrishna, Deena Mehta and Dr Sanjeevan Kapshe, also warns small investors against pro-active participation in the future market.

The panel report said, “They should carefully consider taking positions on future markets because mark-to-market losses resulting in margin calls could wipe out small individual investors.”

SEBI’s panel also recommend increase in tenure of longer-term options up to three years to attract more investors and bring transparency in the system. The penal is also in the favour of cross currency contracts besides formation of corporate bond and Government bond indexes.

The panel has also asked for relaxing terms and conditions of the Securities Transaction Tax to make derivative market more convenient for new investors.

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