On Monday, Shares of Kinder Morgan, Inc. (NYSE:KMI), lost -1.60% to $36.30.
Kinder Morgan, declared that its board of directors authorized KMI’s partner, Tennessee Gas Pipeline Company (TGP), to proceed with TGP’s Northeast Energy Direct (NED) project’s “market path” segment from Wright, New York, to Dracut, Massachusetts, a $3.3 billion investment designed to serve natural gas utilities and electricity generation customers in New England. NED is designed to supply a critical energy resource, domestically produced, abundant and clean natural gas, to assist alleviate New England’s uniquely high natural gas and electricity costs caused by the severely limited natural gas transportation capacity presently serving the region. NED will be an extension off of KMI’s existing TGP pipeline, which has safely delivered natural gas to New England since the 1950s.
According to the independent electric system operator ISO New England, New Englanders paid over $7 billion more for electricity during the winters of 2013/14 and 2014/15 than what they paid for electricity during the winter of 2011/12, largely as a result of the existing lack of pipeline capacity servicing the region. Independent studies have concluded that the New England region will require 2 Bcf/d of gas capacity over the coming years. NED is indispensable to meet these existing and future supply requirements. NED will assist to lower natural gas and electricity costs by providing additional scalable transportation capacity attached to low cost, nearby domestic and abundant natural gas that is already accessible to and benefiting other regions of the United States.
Kinder Morgan, Inc. operates as an energy infrastructure and energy company in North America. The company operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada, and Other segments.
Shares of Groupon, Inc. (NASDAQ:GRPN), declined -0.98% to $5.07, during its last trading session.
Blue Calypso, Inc. (BCYP) (OTCQB:BCYPD), developer of patented mobile consumer shopping engagement solutions for retailers and product manufacturers, recently declared a favorable set of Claim Construction or “Markman” rulings from the United States District Court for the Eastern District of Texas in its ongoing patent infringement case against Groupon (GRPN), Foursquare, Yelp (YELP) and IZEA.
On July 14, 2015, the Court entered its Memorandum Opinion and Order regarding claim construction. In that Order, the Court analyzed eleven (11) claim terms. The Court agreed with Blue Calypso’s proffered construction as to seven (7) terms, chose its own construction as to three (3) terms and agreed with Defendants’ proffered construction as to only one (1) term. The Court also expressly rejected Defendants’ argument that the term “testimonial tag” was indefinite.
Groupon, Inc. operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount worldwide. It also offers deals on products for which it acts as the merchant of record.
Finally, Marsh & McLennan Companies, Inc. (NYSE:MMC), ended its last trade with 0.14% gain, and closed at $58.45.
Marsh & McLennan Companies, declared that it has designated Don Bailey as head of global sales. Based in New York, Mr. Bailey will be a member of the Marsh Executive Committee and report directly to Peter Zaffino, president and CEO of Marsh.
In this role, Mr. Bailey will lead Marsh’s sales function globally and continue the firm’s focus on driving profitable growth. He will work closely with Marsh business leaders in all regions to enhance sales capabilities to grow top line revenue.
Commenting on his new role, Mr. Bailey said: “I am delighted to be working with a team of global business leaders to further embed Marsh’s world-class sales culture. Our success will be predicated upon creating value for clients through exceptional services and differentiated product offerings.”
Marsh & McLennan Companies, Inc., a professional services firm, provides advice and solutions primarily in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services; and Consulting.
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