CPI Corp. (NYSE:CPY) announced that its Board of Directors declared a third quarter cash dividend of 25 cents per share. The dividend will be paid on August 15, 2011 to shareholders of record as of August 8, 2011. As of July 28, 2011, CPI had 7,042,484 common shares outstanding.
CPI Corp., through its subsidiaries, manufactures and sells professional portrait photography of young children, individuals, and families.
Midas Inc. (NYSE:MDS) reported net earnings of $2.1 million-or $0.15 per diluted share-for the second quarter ended July 2, 2011, compared to $0.8 million-or $0.06 per diluted share-in the second quarter of 2010. For the first six months of 2011, net earnings were $3.0 million-or $0.21 per diluted share, an increase from $1.5 million-or $0.11 per diluted share-in 2010. Second quarter 2011 results were negatively impacted by $0.02 per share as a result of losses on the sale of eight company-operated shops to franchisees and a final foreign currency exchange loss related to the April payment to the company’s master European licensee as part of the now-concluded arbitration. However, these losses were offset by a $0.03 per share warranty liability reduction due to the declining trend in claims experience.
Midas, Inc. provides retail automotive services through franchised or company-operated shops primarily in the United States, Canada, and Europe.
Las Vegas Sands Corp. (NYSE:LVS) announced that its Board of Directors has approved the redemption of all of its outstanding 10% Series A Cumulative Perpetual Preferred Stock (Preferred A Shares) on November 15, 2011, which is the earliest date upon which the shares may be redeemed.
Las Vegas Sands Corp., together with its subsidiaries, owns, develops, and operates various integrated resort properties primarily in the United States, Macau, and Singapore.
Cleantech Transit, Inc. (CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company’s manufacturing clients worldwide.
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
One of the main benefits of biomass fuel over fossil fuel can be best understood in terms of greenhouse gasses. While both biomass fuels and fossil fuels release about the same amount of carbon dioxide into the atmosphere when burned, there is a distinct difference in the effect they each have on the atmosphere. Burning fossil fuel releases carbon dioxide that was captured during photosynthesis literally millions of years ago. As it is burned, carbon dioxide is released as a new greenhouse gas, a ‘new’ carbon dioxide. Biomass fuel, on the other hand, releases carbon dioxide that was recently captured during photosynthesis and it tends to equal itself out. Nothing ‘new’ is being sent into the atmosphere, thus greatly reducing the greenhouse gas effect on the ozone layer.
For more information about Cleantech Transit, Inc. visit its website www.cleantechtransitinc.com
Piper Jaffray Companies (NYSE:PJC) announced that it has hired two senior research analysts to expand its investment research platform. Mike Grondahl, managing director, will provide coverage of financial technology and services companies, and Jagadish Iyer, principal, will provide coverage of industrial technology companies. Grondahl and Iyer have 14 and 12 years, respectively, of industry and related experience. Grondahl will be based in Minneapolis; Iyer will be based in New York. “Expanding the breadth and depth of coverage in the financial technology, financial services and industrial technology arenas presents a great opportunity to further meet the needs of our clients,” said Jeff Klinefelter, director of research at Piper Jaffray. “We are pleased to have Mike and Jagadish on board to assist with this effort.”
Piper Jaffray Companies provides investment banking services, institutional sales, trading and research services, and asset management services worldwide.
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