On Monday, Globalstar, Inc. (NYSEMKT:GSAT)’s shares declined -0.86% to $2.30.
Globalstar Inc. (GSAT) has declared that it has once again teamed up with Lt. General Russel L. Honore, U.S. Army (Stepped down) in an initiative to raise awareness of the irreplaceable role that non-terrestrial based communications, such as Globalstar’s satellite phone solutions, play in emergency and disaster relief situations. In the devastating aftermath of hurricanes Katrina, Rita and more recently, Sandy, satellite communications providers like Globalstar played an essential part in enabling disaster recovery, search and rescue operations and restoring basic services to the public. Lightweight handheld satellite phones and PABX-compatible fixed phone solutions can be rapidly deployed to meet almost any interoperability application involving 2-way radios, telephones, and data networks.
In the aftermath of these recent events, businesses now routinely incorporate satellite phones in their disaster recovery and backup communications planning. Further, as a direct result of Hurricane Katrina, governors have put a renewed focus on statewide disaster preparedness programs, and interoperable emergency communications are a required component of the National Preparedness Aim put forth by the Department of Homeland Security in September 2011. Known for setting the standard in high quality voice and mobile data communications, Globalstar has already been adopted as the preferred statewide backup communications system in many parts of the country.
Globalstar, Inc. provides mobile voice and data communications services through satellite worldwide. The company offers duplex two-way voice and data products, counting mobile voice and data satellite communications services and equipment for remote business continuity, recreational, emergency response, and other applications; fixed voice and data satellite communications services and equipment in rural villages, ships, industrial and commercial sites, and residential sites; and satellite data modem services comprising asynchronous and packet data services.
Praxair, Inc. (NYSE:PX)’s shares gained 0.34% to $121.79.
Praxair, Inc. (PX) declared it has signed a long-term supply contract with United Phosphorus Limited (UPL) in Jhagadia, India, for the supply of gaseous nitrogen to the company’s manufacturing unit in central Gujarat. This agreement further strengthens Praxair’s presence in the fast-growing Western region of the country.
UPL is one of India’s largest agrochemicals manufacturers and a leading global producer of crop protection products, intermediates, specialty chemicals and other industrial chemicals. The company is expanding its production capacity, resulting in an enhance in its nitrogen usage.
Praxair will build, own and operate a 45-tons-per-day nitrogen plant, which is predictable to start up in the second half of 2015. The plant will also replace some of the existing customer-owned lower-efficiency nitrogen production equipment presently in place at the site. Praxair is already supplying UPL through a 20-tons-per-day nitrogen plant installed at the Jhagadia site in 2013.
Praxair, Inc. produces, sells, and distributes atmospheric, process, and specialty gases, in addition to surface coatings in North America, Europe, South America, and Asia. The company offers atmospheric gases, such as oxygen, nitrogen, argon, and rare gases; and process gases comprising carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
At the end of Monday’s trade, Phillips 66(NYSE:PSX)‘s shares dipped -1.11% to $77.18.
Phillips 66 (PSX) was ready to roll higher. Energy had been shaping up better and around $80, this one looked poised to squeeze much higher. It didn’t happen. The stock tried to push higher, but found a ceiling just above $81, and that ceiling has stayed in place ever since. The good news was a floor held sturdy around $79. Well, the floor had held until recently. This consolidation has not gone as I anticipated and now it is time to change tune and turn cautious before any real damage can be done.
This chart isn’t the death knell for PSX, but it rings out a cautionary tale of breakouts. How long can you sit in a movie theater waiting for the movie to start before you get up and walk out, even if it means getting nothing for the cost of your ticket? That time is now for PSX.
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks to its refineries and other locations; and delivers refined and specialty products, in addition to provides storage services for crude oil and petroleum products. This segment also gathers, processes, transports, and markets natural gas; and transports, fractionates, and markets natural gas liquids in the United States.
Rice Energy Inc (NYSE:RICE), ended its Monday’s trading session with 1.66% gain, and closed at $22.62.
Rice Energy Inc. (RICE) declared the commencement of an underwritten public offering of 6,000,000 shares of its common stock owned by NGP Rice Holdings LLC (an associate of Natural Gas Partners), the selling stockholder named in the registration statement. The selling stockholder will receive all of the net proceeds from the offering. The selling stockholder anticipates to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of Rice Energy’s common stock.
Goldman, Sachs & Co. and Citigroup will act as joint book-running managers of the offering.
Rice Energy Inc., an independent natural gas and oil company, engages in the acquisition, exploration, and development of natural gas, oil, and natural gas liquid (NGL) properties in the Appalachian Basin. The company operates through two segments, Exploration and Production, and Midstream. As of December 31, 2014, it held about 86,000 net acres in the southwestern core of the Marcellus Shale, Pennsylvania; and about 55,000 net acres in the southeastern core of the Utica Shale located in Belmont County, Ohio.
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