China Solar Lower Following Commerce Dept. Preliminary AD Investigation into Certain Crystalline Silicon PV Products (YGE) (TSL) Jul 28, 2014 06:15AM

ingli Green Energy (NYSE: YGE), Trina Solar, ReneSola (NYSE: SOL), JinkoSolar (NYSE: JKS), Hanwha Solarone (Nasdaq: HSOL), and others are on watch following the Commerce Department's preliminary antudumping duty determinations on crystalline silicon photovoltaic products from China and Taiwan. The following is a release from trade.gov:

Last Friday, the Department of Commerce announced its affirmative preliminary determinations in the AD investigations of imports of certain crystalline silicon photovoltaic products (including cells, modules, laminates and/or panels) from China and Taiwan. The Department of Commerce currently has existing AD and countervailing duty orders on crystalline silicon photovoltaic cells, whether or not assembled into modules, from China. The scope of these investigations specifically excludes those products covered by the existing AD and CVD orders. Crystalline silicon photovoltaic cells typically form the basic element of solar panels, modules, and/or laminates but can be used in other products as well, including building-integrated materials.

The Department of Commerce preliminarily determined that certain crystalline silicon photovoltaic products from China and Taiwan have been sold in the United States at dumping margins ranging from 26.33 percent to 165.04 percent, and 27.59 percent to 44.18 percent, respectively.


Tyson Foods (TSN) to Halt Operations at Three Facilities Jul 25, 2014 04:34PM

As part of ongoing efforts to improve the performance of its prepared foods business, Tyson Foods, Inc. (NYSE: TSN) plans to discontinue operations at three facilities, the company announced today. The closings will enable the company to use more of the available production capacity at some of its other prepared foods plants.

Tyson Foods' Cherokee, Iowa, plant will close effective September 27, while the company's Buffalo, New York, and Santa Teresa, New Mexico, plants are expected to cease operations during the first half of calendar 2015. The decision will affect approximately 950 people, including 450 at Cherokee, 300 at Buffalo and 200 at Santa Teresa.

"This is a very difficult decision since it affects the lives of our team members and their families," said Donnie King, president, prepared foods, customer and consumer solutions for Tyson Foods. "However, these plants have been struggling financially. After long and careful consideration, we've concluded it no longer makes business sense to keep them open."

The planned closures are due to a combination of factors including changing product needs, the age of the Cherokee facility and prohibitive cost of its renovation and the distance of the Buffalo and Santa Teresa plants from their raw material supply base in the Midwest. In addition, the closings will allow the company to shift some of the production and equipment to other, more cost-efficient Tyson Foods locations.

Affected workers will be encouraged to apply for openings within the company and also will be invited to job fairs Tyson Foods plans to host. In addition, the company intends to work with state officials to ensure the employees are informed about unemployment benefits and any potential re-training opportunities.


RadioShack (RSH) Receives Cont. Listing Standard Notice from NYSE Jul 25, 2014 04:31PM

RadioShack Corporation (NYSE: RSH) received a continued listing standards notice from the New York Stock Exchange (the “NYSE”) on July 24, 2014, because the average closing price of the Company’s common stock had fallen below $1.00 per share over a period of 30 consecutive trading days.

The Company’s common stock continues to trade on the NYSE. Under NYSE rules, the Company has six months following receipt of the notification to regain compliance with the minimum share price requirement. The Company can regain compliance during the six-month cure period if the Company’s common stock has a closing share price of at least $1.00 on the last trading day of any calendar month during the period and also has an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period. The Company intends to notify the NYSE that it intends to cure the issue and regain compliance.

The Company’s Securities and Exchange Commission reporting requirements and debt obligations are not affected by the receipt of the NYSE notification.


Goldcorp (GG) Announces Gold Production at Cerro Negro Jul 25, 2014 01:17PM

Goldcorp, Inc. (NYSE: GG) announced today that first gold production has been achieved at Cerro Negro, a high grade gold mine located in the Santa Cruz province of Argentina.

"We are very pleased to have first production on schedule and within our current capital cost guidance range from this world class mine," said Chuck Jeannes, Goldcorp President and Chief Executive Officer. "Very importantly, this achievement was reached safely, with Cerro Negro in the midst of a run of over 4.1 million man hours without a lost time accident. This milestone signals not only the start of Cerro Negro's mine life, but also a period of sustained growth for Goldcorp. The team at Cerro Negro has done an outstanding job amid occasionally challenging circumstances and I congratulate them for this outstanding effort. We look forward to strong contributions from Cerro Negro to Goldcorp's overall performance for many years to come."

On July 25, the initial dore bar weighing approximately 100 kilograms was poured at the mine containing an estimated 317 ounces of gold. Overall, progress at the mine remains on track for declaration of commercial production by the end of the year. Production guidance for 2014 is expected to be between 130,000 and 180,000 ounces of gold. Initial capital costs have been reduced by $100 million and are now expected to be between $1.6 and $1.7 billion.

Goldcorp is one of the world's fastest growing gold producers. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.


Destination Maternity (DEST) Does Not Plan to Make Offer for Mothercare, Withdraws Proposal Jul 25, 2014 01:06PM

Destination Maternity Corporation (Nasdaq: DEST) today announces that it does not intend to make an offer for Mothercare plc ("Mothercare" or the "Company") and is withdrawing its proposal for a possible combination with Mothercare.

On 2 July 2014, Destination Maternity made an announcement confirming its interest in a possible combination with Mothercare and confirming its submission of two non-binding written proposals for a possible combination, both of which had been rejected by the Board of Directors of Mothercare. This announcement was required by the UK Takeover Code (the "Code") in light of press speculation at the time regarding Destination Maternity's interest in a possible combination with Mothercare.

Following the announcement on 2 July 2014, Destination Maternity's financial adviser canvassed the views of shareholders who hold a substantial proportion of Mothercare shares. While Destination Maternity believes that its proposal was compelling, it is clear that the shareholders of Mothercare believe that only a very significant increase in the value of such proposal would be acceptable. In light of this and considering Destination Maternity has not been permitted by the Mothercare Board to conduct customary due diligence, Destination Maternity is unwilling to increase the value of its proposal and has therefore decided to withdraw its proposal.

The Mothercare Board and certain Mothercare shareholders presented concerns to Destination Maternity's financial adviser regarding Destination Maternity's ability to finance the combination with Mothercare. Destination Maternity had (subject to due diligence and certain other matters including the negotiation and execution of definitive documentation): (1) negotiated the terms of an in-principle, non-binding, financing package consisting of equity and second-lien debt to be provided by a leading U.S.-based private equity firm; and (2) received in-principle, non-binding, support from Bank of America Merrill Lynch to arrange senior secured debt financing. These financing arrangements, if implemented, would have ensured an appropriate capital structure for the combined business.

Ed Krell, Chief Executive Officer and a Director of Destination Maternity, said:

"We are disappointed that the shareholders of Mothercare have not supported our proposal and that the Board of Mothercare was unwilling to allow us to conduct customary due diligence and engage in discussions with us regarding our proposal.

We believe that there was a strong strategic rationale for the combination of these highly complementary businesses, which would have enhanced the product range of both companies, spanning the pregnancy to toddler life-cycle. We further believe the combination would have created a global leader in maternity, baby and children's apparel and products capable of accelerating the growth and long-term development of both businesses across channels and in markets around the world. In addition, we believe that Destination Maternity's management expertise and strong maternity apparel offering would have provided an attractive enhancement to the Mothercare UK turnaround plan.

Our proposals to Mothercare about a possible combination show our willingness to pursue potential opportunities to help drive shareholder value for Destination Maternity and are consistent with our stated strategic objective to enhance our position as a global leader in maternity apparel, including through international expansion. At the same time, our announcement today that we do not intend to make an offer for Mothercare demonstrates that we will continue to maintain strict financial discipline in evaluating potential initiatives and opportunities.

We will continue to focus on delivering our strategy to drive sales and profit growth, both in the United States and through the continued expansion of our brands internationally."

This announcement is made in accordance with Rule 2.8 of the Code. As a result of this announcement Destination Maternity will, together with any party acting in concert with it, be bound by the restrictions contained in Rule 2.8 of the Code.


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