On Tuesday, American Electric Power Company Inc (NYSE:AEP)’s shares inclined 0.32% to $52.97.
Affiliates of American Electric Power (AEP), Berkshire Hathaway Energy, Duke Energy (DUK), Edison International (EIX), Eversource Energy (ES), Exelon (EXC), Great Plains Energy (GXP), and Southern Company (SO) have signed a memorandum of understanding to pursue development of Grid Assurance™, a limited liability company that expects to offer subscribers cost-effective solutions for enhancing grid resiliency and protecting customers from prolonged transmission outages.
As proposed, Grid Assurance will own and provide subscribers with timely access to an inventory of emergency spare transmission equipment that can otherwise take months to acquire. Grid Assurance filed a petition with the Federal Energy Regulatory Commission (FERC) late yesterday seeking confirmation that this service can be part of a transmission-owning entity’s strategy to effectively address grid resiliency mandates. Grid Assurance will not be FERC regulated, but plans to charge cost-based subscription fees, similar to FERC-regulated transmission formula rates. Cost-based subscription fees are expected to facilitate subscribers’ ability to recover expenses.
Restoration of the transmission grid can be hampered by long lead times required to design, build and deliver critical replacement equipment including large transformers, circuit breakers and other specialized electrical equipment. As proposed, Grid Assurance will be more cost-effective than companies independently securing emergency spare equipment for high-impact, low-frequency events due to economies of scale, diversification and improved logistics.
American Electric Power Company, Inc., a public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers. The company generates electricity using coal and lignite, natural gas, nuclear, and hydroelectric and other energy sources.
At the end of Tuesday’s trade, Willbros Group Inc (NYSE:WG)‘s shares dipped -2.66% to $1.28.
Willbros Group, Inc. (WG) declared that it has accomplished the initial transaction of its recently revealed intention to sell its Professional Services segment. On June 12 Willbros closed the sale of its Downstream Engineering services, based in Baton Rouge, Louisiana, and its Heater Engineering Services, based in Tulsa, Oklahoma, to a group led by Bernhard Capital Partners. The Company is ongoing to pursue the sale of the balance of the Professional Services segment, which comprises the midstream and mainline engineering operations, the Integrity solutions and technology business, the Land and Survey group, and the Government Services business. The balance of the businesses which remain to be sold comprises the Company’s legacy engineering operations in Tulsa, attained in 1981 with the purchase of Butler Associates, Inc., and the technology solutions developed jointly with Google, trademarked as IntegraLink. These remaining businesses constitute the core service offerings of the Professional Services segment. Willbros has retained Greenhill & Co., LLC, to represent the Company and manage the sale process.
The Company noted that there can be no assurance that the decision to offer the segment for sale will result in the Company pursuing a particular transaction or concluding any such transaction. The Company has not set a definitive timetable for completion of the process and does not intend to disclose further developments until its Board of Directors approves a specific action.
Willbros Group, Inc., together with its auxiliaries, operates as an energy infrastructure contractor serving the oil, gas, refining, petrochemical, and power industries in the United States and internationally. It provides engineering, procurement, and construction (EPC); and turnarounds, maintenance, facilities development, and operations services. The company operates through four segments: Oil & Gas, Professional Services, Utility T&D, and Canada.
WidePoint Corporation (NYSEMKT:WYY), ended its Tuesday’s trading session with -2.91% loss, and closed at $1.67.
WidePoint Corporation (WYY), a leading provider of Managed Mobility Services (MMS) specializing in Cybersecurity and Telecommunications Lifecycle Administration (TLM) solutions, declared recently that it has reached a planned alliance with Samsung SDS America, Inc. (Samsung SDSA). The partnership enables WidePoint Certificate-on-Device™ digital certificates for use on Samsung Galaxy S® devices, such as Galaxy S4, Galaxy S5, Galaxy Note 3, Galaxy Note 4 and Galaxy Note Edge. Further, WidePoint is announcing the integration of Samsung SDS Co., Ltd.’s (Samsung SDS) CellWe Enterprise Mobility Administration (EMM) solution with WidePoint’s ITMS™ Telecom Lifecycle Administration System.
WidePoint’s next-generation identity administration and assurance services provide standardized, high-grade credentialing capabilities across a growing number of communities of interest. The services offer an important next step for WidePoint’s partners and customers in achieving a fully interoperable cyber authentication ecosystem across federal, commercial, and international markets, to ensure that only authorized and protected devices can access enterprise resources hosted in any private or public cloud environment.
WidePoint Corporation provides information technology (IT) based products, services, and solutions worldwide. The company offers expense administration solutions, which provide a range of dash boards and reports to evaluate communications carrier compliance against a contract, and manage communication assets and expenses; identity administration and identity assurance services to protect and defend information and information systems; and Certificate-on-Device solution, a robust cloud-based service that provides secure digital certificates to various mobile devices.
At the end of Tuesday’s trade, Lockheed Martin Corporation (NYSE:LMT)‘s shares surged 0.18% to 185.86.
Lockheed Martin’s (LMT) Legion Pod accomplished its first flight test, successfully tracking multiple airborne targets while flying on an F-16 in Fort Worth, Texas.
Legion Pod was integrated onto the F-16 without making any hardware or software changes to the aircraft. Additional flight tests on the F-16 and F-15C will continue throughout the year.
Equipped with an IRST21™ infrared sensor and advanced networking and data processing technology, Legion Pod provides high-fidelity detection and tracking of airborne targets. It also accommodates additional sensors without costly system or aircraft modifications.
Legion Pod is accessible to meet the requirements of the U.S. Air Force F-15C infrared search and track program of record, which comprise long-range detection and tracking in a wide field of view. Its flexible design and open systems architecture enable Legion Pod to offer a variety of capabilities for other fighter and non-fighter aircraft.
Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It also provides administration, engineering, technical, scientific, logistics, and information services. Its Aeronautics segment offers combat and air mobility aircraft, unmanned air vehicles, and related technologies.
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