latest news releases from the newsroom
Occidental Petroleum Corp.
Occidental Reclasses Ecuador as Discontinued Operations and Gives Guidance for the Second Quarter Earnings
LOS ANGELES, July 5, 2006 (PRIMEZONE) -- The recent seizure of Occidental's (NYSE:OXY) Block 15 investment in Ecuador will result in Occidental recording in the second quarter of 2006 a net year-to-date after-tax charge of $306 million, ($0.71 per share) in discontinued operations. This charge will cause first quarter 2006 diluted earnings per share from continuing operations to change to $2.67 per share from the previous disclosure of $2.83 per share. Occidental expects second quarter 2006 diluted earnings per share from continuing operations to be between $2.70 and $2.80 per share.
Meritage Homes Corporation
Meritage Homes Corporation Increases Credit Facility to $850 Million
SCOTTSDALE, Ariz., July 5, 2006 (PRIMEZONE) -- Meritage Homes Corporation (NYSE:MTH) today announced that the Company has expanded its revolving credit facility by $50 million with the addition of a new lender to the bank group. The expansion was pursuant to an accordion feature that allows the maximum capacity of the facility to be increased to $1.05 billion, as may be requested by Meritage. As a result, the facility's total committed balance increased to $850 million, and the remaining accordion is $200 million, subject to certain conditions.
China PRnews Limited
China PRnews Delivered Keynote at China International Public Relations Congress 2006
BEIJING, July 5, 2006 (PRIMEZONE) -- China PRnews, or PRnews.cn, the leading provider of press release distribution, targeting and monitoring in China, recently gave a keynote address at the China International Public Relations Congress 2006. The annual event, which was held from June 24 through 26 in Beijing, was a comprehensive event of the PR industry, gathering more than 300 Chinese government officials and business leaders and PR professionals.
AbsoluteSKY Refuses Unsolicited Bid
MONTREAL, July 4, 2006 (PRIMEZONE) -- The Board of Directors of AbsoluteSKY, Inc. (Pink Sheets:ABSY) voted unanimously to reject the unsolicited offer received by the Company on June 21, 2006 from a European Fund.