Corporate News

Google Inc. (NASDAQ: GOOG) said that its search service has been completely blocked in mainland China, pushing shares down in extended trade Thursday.

According to Dow Jones, the search capabilities of google.cn have been cut off, while images are partially available, as are the Web sites news functions. Google Ads and mobile features have been completely shutdown in the country.

The company's Gmail services have remained fully functional in China as of 5:43 pm EDT on Thursday.

Google has been battling with the Chinese government for months over its policies after a cyber attack originated from the country.

Shares of Google are down 1.85 percent to $476.00 in aftermarket movement Thursday.

The Orchard (Nasdaq: ORCD) today announced the completion of its acquisition by Dimensional Associates, LLC, the New York-based private equity arm of JDS Capital Management, Inc. and the majority owner of The Orchard. At The Orchard's annual meeting of stockholders held today, The Orchard's stockholders voted to adopt the merger agreement entered into on March 15, 2010, as amended, providing for the acquisition by Dimensional Associates of the outstanding shares of common stock of The Orchard not already owned by Dimensional Associates and its affiliates.

Dimensional Associates was the primary owner of The Orchard from 2003 until its reverse merger with DMGI in November 2007 and, prior to the completion of the acquisition today, was the majority owner of The Orchard. Daniel C. Stein, an executive of Dimensional Associates, has been a member of The Orchard’s Board of Directors since 2007.

“Following the merger with Dimensional Associates—a strong associate for nearly a decade—The Orchard will continue to service its global clients and partners with the same diligence and positive results they’ve grown used to over the years,” said Brad Navin, CEO of The Orchard. “The company will remain focused on enhancing its delivery platform, expanding its digital business, and building products to make our clients more efficient marketers.”

Under the terms of the merger agreement, The Orchard's stockholders are entitled to receive $2.05 in cash, without interest and less any applicable withholding taxes, for each share of common stock they owned immediately prior to the effective time of the merger. The Orchard's common stock will cease trading on the Nasdaq Stock Market at the opening of trading on July 30, 2010 and will be delisted from the Nasdaq Stock Market.

Adoption of the merger agreement was subject to two votes. Under Delaware law, the merger agreement was required to be adopted by the holders of a majority of the voting power of the company’s common stock and Series A convertible preferred stock outstanding on the record date of June 11, 2010. Holders of approximately 81% of these shares voted in favor of the adoption of the merger agreement, representing 85% of the votes cast.

In addition to the vote required under Delaware law, the merger agreement was required to be adopted by the holders of a majority of the voting power of the company’s common stock and Series A convertible preferred stock outstanding on the record date, other than Dimensional Associates and its affiliates. Holders of approximately 58% of these shares voted in favor of the adoption of the merger agreement.

Stockholders will receive a letter of transmittal and instructions on how to surrender their shares of The Orchard's common stock in exchange for the merger consideration. Stockholders should wait to receive the letter of transmittal before surrendering their shares.

CNBC reporting that Google (Nasdaq: GOOG) is saying that its mainland web service in China is fully blocked.

Steven Madden Ltd. (NASDAQ: SHOO) will replace inVentiv Health Inc. (NASDAQ: VTIV) in the S&P SmallCap 600 index after the close of trading on a date to be announced. inVentiv Health is being acquired by affiliates of Thomas H. Lee Partners in a transaction expected to be completed soon.

Honeywell (NYSE: HON) announced today its Total InteGrated Engine Revitalization (TIGER) program with the U.S. Army has been extended through Option Year 5, with a Not-To-Exceed value of $190 million, bringing the total contract value to more than $1.5 billion since the original contract award.

"The TIGER program is more than just parts and logistics services for the AGT1500 gas turbine engine that powers the M1 Abrams family of vehicles, it is a continuous improvement program addressing both the durability of the engine and operating and support costs," said Paul Vidano, vice president of Militaries & Operators, Honeywell Aerospace.

The Abrams TIGER program is an example of successful Government and industry teaming. The program encompasses parts, engineering, depot and field support services, enabling Anniston Army Depot (ANAD) to reset an additional 505 AGT1500 engines and perform sustainment repairs on up to 90 engines using a Condition-Based Overhaul (CBO) process.

Under the TIGER program, the AGT1500 engine configuration, field use and maintenance history is tracked and evaluated so that depot maintenance can be performed based on the evidence-of-need rather than traditional complete overhaul practices.

The TIGER program has proven to be highly effective in forecast planning and ordering, warehousing, part kitting and point-of-use delivery, and ensuring a consistent supply of quality parts to meet Anniston Army Depot's engine R&O schedule. Engineering support, field repair support, data collection and analysis, and program management are also included in the TIGER program.

Additional Honeywell equipment on the M1 Abrams includes engine controls, navigation, generator and controls.