Blue Earth, Inc. (BBLU) Responds to Short Seller Pump Stopper Oct 21, 2014 05:21PM

Blue Earth, Inc. (NASDAQ: BBLU) (Company) a renewable/alternative energy and energy efficiency services company, responded today to false statements and allegations made by the Pump Stopper in Seeking Alpha.

"Response by Johnny R. Thomas, CEO of Blue Earth, to False Statements of "The Pump Stopper".

This posting compiles selective information in a false and misleading manner to maliciously advance, we believe, a "short agenda" for personal gain. Responding to all of the falsehoods and innuendos would dignify the author with more credibility than deserved.

1. Fraud Allegations at ABTX: A class action suit was filed against ABTX and management. The lawsuit was DISMISSED with prejudice. The law firm that spearheaded the lawsuit, Milberg Weiss, was disbanded and certain principals went to jail for their illegal activities in initiating and pursuing such lawsuits. In America, any one can file an allegation and any one can make misleading and false accusations as this disreputable party has done. Filing does not make them true. Consider the financial motive of the author as he panics investors into selling to cover short positions and reap huge profits.

2. BBLU has hired multiple stock promoters: Investor Relations outreach is an important and critical fiduciary duty of management. There is a difference between investor relations and "stock promoters" as implied by the author. Investors should be aware that the Company provided the exchanges with every investor relations contract as part of a full disclosure during the up listing process.

3. Multiple accounting red flags: This is a favorite of rumormongers and liars. Two S-1 registration statements have been declared effective over the past two years, most recently on May 15, 2014. In both cases there was a full SEC review of our financial statements and business descriptions. There have been no accounting changes since that full review.

4. Current auditor PCAOB deficiencies: Our current auditors were picked carefully to find quality auditors at reasonable rates. They were selected because they have an excellent PCAOB track record and because they are a network affiliate of the McGladrey group. This selection is consistent with many early stage companies that seek to upgrade their auditors as they prepare for an exchange listing. Investors that desire to evaluate the truth of the Pump Stopper are encouraged to compare the number and magnitude of PCAOB comments in the files of the big four audit firms against those of our auditors.

5. CHP business already failing with due diligence turning up serious regulatory issues: CHP is environmentally a "clean" energy solution that reduces the carbon footprint of the customer and saves the customer money on their energy costs. It is a proven technology that is favored by regulations, contrary to the false statements in the posting.

6. Traffic business has apparently already failed: This product is a new product that was only introduced into the market place in May. The response has been good, as measured by sales to date.

7. Law Enforcement Investigation: The Company is not aware of any prior or current investigation and believes the recent full review of securities filings and the recent exchange up-listing support this belief.

8. Freedom of Information letter: This is a form letter that is generated in response to such requests. This letter is in no way an indication that an investigation is either occurred or is on-going. Please read the following quote from the letter. "It is the general policy of the Commission to conduct its investigations on a non-public basis. Thus subject to the provisions of FOIA, the commission does not disclose the existence or non-existence of an investigation…"

9. Summary Statement: Management has been involved in public markets for approximately 30 years. We pride ourselves on our corporate governance and public company management. We have never had a re-statement or an allegation of wrong doing by a regulatory body. The Company is investigating what actions can be taken against parties that spread false allegations for their personal gain at the expense of our shareholders and our Company."


Vertex Pharma (VRTX) Affirms FDA Panel Approval of KALYDECO for R117H Mutation of CF Oct 21, 2014 04:48PM

Vertex Pharma (NASDAQ: VRTX) announced that the U.S. Food and Drug Administration’s Pulmonary Allergy Drugs Advisory Committee (PADAC) voted 13-2 to recommend approval of KALYDECO (ivacaftor) in people with cystic fibrosis (CF) ages 6 and older who have the R117H mutation in the cystic fibrosis transmembrane regulatory (CFTR) gene, which is the indication being reviewed by the FDA.

“Today’s recommendation is a positive and important step toward making ivacaftor available for people ages 6 and older with the R117H mutation,” said Jeffrey Chodakewitz, M.D., Senior Vice President and Chief Medical Officer at Vertex.

Advisory committees provide the FDA with independent scientific and medical advice on safety, effectiveness and appropriate use of potential new medicines. The FDA is not bound by the committee's recommendation, but often follows its advice. The FDA is expected to make a decision on the approval of ivacaftor by December 30, 2014 under the Prescription Drug User Fee Act (PDUFA).

Cystic fibrosis is caused by a defective or missing CFTR protein resulting from mutations in the CFTR gene. KALYDECO is currently approved to treat more than 2,600 people ages 6 and older in North America, Europe and Australia who have specific mutations in the CFTR gene. In the United States, these mutations include G551D, G178R, S549N, S549R, G551S, G1244E, S1251N, S1255P and G1349D. In people with the R117H mutation, the CFTR protein reaches the cell surface but does not function properly. Approximately 500 people ages 6 and older have this mutation in the United States.

INDICATION AND IMPORTANT SAFETY INFORMATION FOR KALYDECO® (ivacaftor)

Ivacaftor (150 mg tablets) is indicated for the treatment of cystic fibrosis (CF) in patients age 6 years and older who have a G551D mutation in the CFTR gene.

In the United States, ivacaftor is also indicated for the treatment of CF in patients age 6 and older who have one of the following mutations in the CFTR gene: G1244E, G1349D, G178R, G551S, S1251N, S1255P, S549N, or S549R. In Canada, ivacaftor is indicated for these same mutations and additionally for G970R.

Ivacaftor is not effective in patients with CF with 2 copies of the F508del mutation (F508del/F508del) in the CFTR gene. The safety and efficacy of ivacaftor in children with CF younger than 6 years of age have not been established.

Elevated liver enzymes (transaminases; ALT and AST) have been reported in patients receiving ivacaftor. It is recommended that ALT and AST be assessed prior to initiating ivacaftor, every 3 months during the first year of treatment, and annually thereafter. Patients who develop increased transaminase levels should be closely monitored until the abnormalities resolve. Dosing should be interrupted in patients with ALT or AST of greater than 5 times the upper limit of normal. Following resolution of transaminase elevations, consider the benefits and risks of resuming ivacaftor dosing.

Use of ivacaftor with medicines that are strong CYP3A inducers, such as the antibiotics rifampin and rifabutin; seizure medications (phenobarbital, carbamazepine, or phenytoin); and the herbal supplement St. John's Wort, substantially decreases exposure of ivacaftor and may diminish effectiveness. Therefore, co-administration is not recommended.

The dose of ivacaftor must be adjusted when used concomitantly with strong and moderate CYP3A inhibitors or when used in patients with moderate or severe hepatic disease.

Ivacaftor can cause serious adverse reactions including abdominal pain and high liver enzymes in the blood. The most common side effects associated with ivacaftor include headache; upper respiratory tract infection (the common cold), including sore throat, nasal or sinus congestion, and runny nose; stomach (abdominal) pain; diarrhea; rash; and dizziness. These are not all the possible side effects of ivacaftor. A list of the adverse reactions can be found in the product labeling for each country where ivacaftor is approved. Patients should tell their healthcare providers about any side effect that bothers them or does not go away.

Please see KALYDECO U.S. Prescribing Information, EU Summary of Product Characteristics, Canadian Product Monograph, Australian Consumer Medicine Information and Product Information, Swiss Prescribing Information and Patient Information, and the New Zealand Datasheet and Consumer Medicine Information.


Nabors Industries (NBR) Tops Q3 EPS by 3c Oct 21, 2014 04:46PM

Nabors Industries (NYSE: NBR) reported Q3 EPS of $0.39, $0.03 better than the analyst estimate of $0.36. Revenue for the quarter came in at $1.81 billion versus the consensus estimate of $1.72 billion.

Tony Petrello, Nabors' Chairman, President & CEO, commented, "The third quarter presented solid operating results across all of our businesses except Production Services, where weather and ongoing spending constraints of a key customer led to lower sequential results. Our International operation realized the largest sequential improvement in operating income, followed by Completion Services, Canrig and the seasonal recovery in Canada. U.S. Drilling benefited from the receipt of a previously announced $30 million contract termination payment. Excluding this payment, a meaningful improvement in the U.S. lower 48 operation was offset by seasonally lower activity in Alaska. The International improvement reflects the initial contribution from new rig deployments and rate increases on contract renewals, despite idle time on a few higher-contribution rigs. The increase in Completion Services resulted from a record quarterly stage count and improving pricing, although higher proppant and logistics costs inhibited margin improvement. Canrig benefited from a high volume of shipments, particularly for third parties.

"While we are acutely aware of the potential ramifications of further downside in commodity prices, our nine new contract awards are indicative of today's strategic planning by several of our key customers. Internationally, these rigs are destined for long-term projects, while the PACE®-X rigs facilitate improved returns associated with the migration toward higher density pad drilling. Interest in our PACE®-X rigs remains high as these rigs consistently outperform, and our ramped up production capability provides us a more competitive delivery timeframe."

For earnings history and earnings-related data on Nabors Industries (NBR) click here.


Ocwen Financial (OCN) Corrects Earlier Statement in Response to Letter from NY Regulators Oct 21, 2014 04:42PM

Ocwen Financial Corporation (NYSE: OCN), the nation's largest independent mortgage servicer, today issued the following update to its earlier statement addressing a letter it received from the New York Department of Financial Services ("DFS") related to erroneously dated borrower correspondence:

"Ocwen wishes to correct its statement in a press release earlier today that 283 borrowers in New York received letters with incorrect dates. Ocwen is aware of additional borrowers in New York who received letters with incorrect dates but does not yet know how many such letters there were. Ocwen is continuing its investigation into these matters. We are working with and fully cooperating with DFS and the Monitor to address their concerns."


FMC Technologies (FTI) Tops Q3 EPS by 5c Oct 21, 2014 04:26PM

FMC Technologies (NYSE: FTI) reported Q3 EPS of $0.79, ex-items, $0.05 better than the analyst estimate of $0.74. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.96 billion.

"Quarterly subsea margins are at the highest level we have delivered in over four years," said John Gremp, Chairman, President and CEO of FMC Technologies. "Our focus on execution, the strength of our backlog, and the growth of our subsea service revenue has positioned us to continue delivering mid-teen level margins."

"In Surface Technologies, we delivered record earnings on the growth of our North American fluid control business, as well as continued strong performance in our international surface wellhead business."

For earnings history and earnings-related data on FMC Technologies (FTI) click here.


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