Corporate News

Hasbro, Inc. (Nasdaq: HAS) has entered into agreement with CBS Consumer Products to manufacture and globally market a variety of products based on the STAR TREK property beginning in 2013. The toy line will launch in support of the STAR TREK movie sequel from Paramount Pictures, which will open May 17, 2013.

A123 Systems (Nasdaq: AONE), announced that it will supply six Grid Battery Systems (GBSs) to Northern Powergrid, an electricity distribution network operator that delivers power to more than 3.8 million customers in the U.K.

The GBSs will be designed for peak-load shifting and to manage fluctuations in voltage on the U.K.'s power grid. Expected to be operational by the end of 2012, the systems will be deployed as part of the Customer-Led Network Revolution (CLNR), the U.K.'s largest smart grid project funded through the Office of the Gas and Electricity Markets' (Ofgem) Low Carbon Networks Fund.

Tesla Motors (NASDAQ: TSLA) unveiled its latest one-of-a-kind vehicle last night: the highly anticipated Model X. Blending the best of an SUV with the benefits of a minivan, Model X features unique Falcon Wing rear doors and optional Dual Motor All-Wheel drive.

Shares of TSLA are trading down 3% in the pre-market hours of trading after unveiling its new Model X. Shares closed higher yesterday in anticipation of the design.

Wynn Resorts (Nasdaq: WYNN) is ticking lower Friday amid reports that a rivalry atop the company might go on for another two weeks.

According to Reuters, Japanese businessman Kazuo Okada is inching closer to gaining access to the books of Wynn Resorts. Recently, Okada sued Steve Wynn over being denied access to the information and called a recent $135 million corporate donation to a university in Macau 'inappropriate."

Okada holds a 20 percent stake in Wynn, double what Steve Wynn is holding.

Wynn and Okada have been business partners for 12 years now, but this recent escapade has caused a rift between the two billionaires.

On Thursday, a judge in Nevada ruled that he will need an additional two weeks to review claims and give the two more time to resolve some issues.

Chairman of arcade-game manufacturer Universal Entertainment Corp. -- who is 11 percent owned by Goldman Sachs (NYSE: GS) -- Okada has also sought to nominate four members to Wynn Resorts' Board of Directors, potentially giving him control of five out of 12 seats.

Universal is looking to develop a $2 billion casino in the Philippines, which Wynn claims is the heart of all the problems, though people for Okada said the Philippines project wasn't a factor.

It's not clear why Okada wants to take a peek into the books, whether it be to see a more itemized view of spending or to get a clearer picture of Wynn's overall operations (10-Qs and 10-Ks are very general), but the outcome may have a negative effect on Wynn's shares as investors may lose confidence in the casino giant.

Shares of Wynn Resorts are about 1 percent lower Friday morning. Shares are well off their 52-week high just above $170, and are trading 6 percent lower following its fourth-quarter numbers issued February 2nd.

Shares of Cobalt International Energy, Inc. (NYSE: CIE) are trading up 31.8% in the pre-market hours today after providing additional data confirming the significance of its Cameia Pre-salt oil discovery in Block 21 offshore Angola.

The Cameia-1 Well was drilled in 5,518 feet (1,682 meters) of water to a total depth of 16,030 feet (4,886 meters), at which point an extensive wire line evaluation program was conducted. The results of this wire line evaluation program confirmed the presence of a 1,180 foot (360 meter) gross continuous oil column with over a 75% net to gross pay estimate. No gas/oil nor oil/water contact was evident on the wire line logs. An extended Drill Stem Test (DST) has now been performed on Cameia-1 to provide additional information.

The DST flowed at an un-stimulated sustained rate of 5,010 barrels per day of 44-degree API gravity oil and 14.3 million cubic feet per day of associated gas (approximately 7,400 BOEPD) with limited drawdown. The flow rate, which was restricted by surface equipment, facility and safety precautions, confirmed the presence of a very thick, continuous, high quality reservoir saturated with light oil.

Joseph H. Bryant, Cobalt’s Chairman and Chief Executive Officer, said “Cameia is an extraordinary success. The results have exceeded our pre-drill expectations and have increased our confidence in our entire West Africa Pre-salt exploration inventory. We will immediately commence our Cameia appraisal program.”