On Wednesday, Emerson Electric Co. (NYSE:EMR)’s shares declined -0.74% to $49.74.
Emerson Process Administration, a global business of Emerson (EMR), is automating the Shehong Liushu Hydropower Project that will bring clean electrical power to China’s Sichuan province.
Hydropower development, particularly small hydropower, has been gaining traction in China as a clean energy source that can supplement thermal power sources and electrify rural areas. This project by Tuopai Power Development Co. Ltd. comprises of three 16-megawatt units to assist meet the growing energy needs of the Shehong region in southwest Sichuan. The first unit is predictable to be operational in March 2016.
Emerson will provide its Ovation™ control and SCADA technology to manage hydropower operations. Tuopai Power Development is among the first hydropower generators in China to adopt distributed control system technology that provides tighter overall control, improved diagnostics, improved plant efficiency, reliable grid synchronization, improved cybersecurity and more efficient operator deployment.
Emerson Electric Co. provides technology and engineering solutions to industrial, commercial, and consumer markets worldwide. It operates through five segments: Process Administration, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions. The Process Administration segment offers products and technology, and engineering, project administration, and consulting services for precision measurement, control, monitoring, asset optimization, and safety and reliability of oil and gas reservoirs and plants. This segment serves end markets in oil and gas, refining, chemicals, power generation, pharmaceuticals, food and beverages, pulp and paper, metals and mining, and municipal water supplies.
The Madison Square Garden Co(NYSE:MSG)’s shares dropped -2.26% to $76.42.
The Madison Square Garden Company (MSG) declared that John Sykes, one of the industry’s leading entertainment and media executives, has joined its board of directors as a new independent Class A director.
The Madison Square Garden Company is presently pursuing a spin-off of its sports and entertainment business from its media business and anticipates, with the anticipated completion of the transaction, that Mr. Sykes would continue to serve on the media company’s board of directors.
The Madison Square Garden Company, together with its auxiliaries, is engaged in sports, entertainment, and media businesses in the United States. It operates through three segments: MSG Sports, MSG Media, and MSG Entertainment. The MSG Sports segment owns and operates sports franchises, counting New York Knicks, New York Rangers, New York Liberty, Hartford Wolf Pack, and Westchester Knicks.
At the end of Wednesday’s trade, Targa Resources Corp (NYSE:TRGP)‘s shares dipped -3.21% to $72.63.
Targa Resources Partners LP (NGLS) (“Targa Resources Partners” or the “Partnership”) and Targa Resources Corp. (TRGP) (“TRC” or the “Company”) recently stated second quarter results.
Targa Resources Partners — Second Quarter 2015 Financial Results
Second quarter 2015 net income attributable to Targa Resources Partners was $45.8 million contrast to $108.8 million for the second quarter of 2014. Net income per diluted limited partner unit was $0.01 in the second quarter of 2015 contrast to $0.64 for the second quarter of 2014. The Partnership stated earnings before interest, income taxes, depreciation and amortization and other non-cash items (“Adjusted EBITDA”) of $303.2 million for the second quarter of 2015 contrast to $228.7 million for the second quarter of 2014. The Partnership’s distributable cash flow for the second quarter of 2015 of $218.4 million corresponds to distribution coverage of about 1.1 times the $200.4 million in total distributions to be paid on August 14, 2015 (see the section of this release entitled “Targa Resources Partners - Non-GAAP Financial Measures” for a talk aboution of Adjusted EBITDA, gross margin, operating margin and distributable cash flow, and reconciliations of such measures to their most directly comparable financial measures calculated and presented in accordance with U.S. generally accepted accounting principles (“GAAP”)).
Targa Resources Partners LP owns, operates, acquires, and develops midstream energy assets in the United States. The company’s Gathering and processing division is involved in gathering, compressing, dehydrating, treating, conditioning, processing, and marketing natural gas; and gathering crude oil. This division gathers and processes natural gas from the Permian Basin in West Texas and Southeast New Mexico; the Fort Worth Basin, counting the Barnett Shale, in North Texas; and the Williston Basin in North Dakota, in addition to from the onshore and offshore regions of the Louisiana Gulf Coast and the Gulf of Mexico.
Steven Madden, Ltd. (NASDAQ:SHOO), ended its Wednesday’s trading session with 3.32% gain, and closed at $41.36.
Soupman, Inc. (SOUP) declares that Jamieson Karson has joined Soupman, Inc. as Chief Executive Officer. Mr. Karson is also Chairman of the Board of Directors.
As Chief Executive Officer, Mr. Karson will work with the Board and administration team to drive revenues and profits and to build upon the Soupman brand. Mr. Karson is the former CEO and Chairman of the Board of Steven Madden, LTD. (SHOO), the global footwear, accessories and apparel company. During his tenure at Steve Madden, the company’s revenues, profits and market cap grew significantly despite the company facing extraordinary challenges. He is credited with stabilizing the company and expanding the company’s footprint into the global retail and wholesale markets. He has won numerous awards counting Steve Madden being named “Footwear Company of the Year” twice and “Top Ten Retailers in America” by ICSC. Karson was named “Top Ten Best Retail CEOs in America” by consulting firm HVS. After Steve Madden, Mr. Karson was a partner at Lightship Partners, a retail consulting firm. He has considerable expertise in the restaurant business. He also holds a law degree and is Senior Counsel at Dentons, the largest law firm in the world.
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children. Its Wholesale Footwear segment provides footwear under Steve Madden Women’s, Madden Girl, Steve Madden Men’s, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Report Signature, Superga, Betsey Johnson, Steve Madden Kids, FREEBIRD by Steven, Stevies, Wild Pair, Brian Atwood, and B Brian Atwood brands, in addition to under the third party brands.
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