Stock Research

American motor-car construction corporation General Motors Corp. has reduced the size of obligations on payment of pensions to the employees by 3.9 billion dollars that makes 4,4% from a total sum. In the end of 2005 it was planned, that as pensions GM will pay 89 billion dollars. Reduction of sum GM explains as aspiration to cut down expenses in a kind of a growing competition from foreign competitors who use work of younger employees and consequently are to a lesser degree burdened by expenditure for pensions and public health services, informs Associated Press.

Net profit of American company Cisco Systems Inc., the world’s largest manufacturer of the network equipment, in 2006 financial year, that come to the end on July, 29th 2006, has decreased on 2.8% - up to 5.580 billion dollars in comparison to 5.741 billion dollars in the past financial year. Such data contain in the report of the company published today.
The operational profit of the company for the specified period has decreased on 5.7% - from 7.416 billion dollars up to 6,996 billion dollars. The Proceeds for the accounting period have grown on 14.9% - from 24.801 billion dollars up to 28.484 billion dollars. The Net profit of the company in 4th quarter of 2006 has grown on 0.3% - up to 1.544 billion dollars in comparison to 1.540 billion dollars for the similar period of the last year. The operational profit of the company for the specified period has decreased on 0.4% - from 1.990 billion dollars up to 1.997 billion dollars. The Proceeds for the accounting period have grown on 21.3% from 6.581 billion dollars up to 7.984 billion dollars.

Universal Computer Systems Inc buys American company Reynolds and Reynolds Co. which is engaged in development of computer maintenance for the companies, selling cars, for 2.5 billion dollars. Such data contain in press release of Reynolds and Reynolds published today.
According to the signed agreement, Universal Computer Systems which also is engaged in development of computer maintenance will pay on 40 dollars for each stock of Reynolds and Reynolds, that on 14 % above cost of securities Reynolds and Reynolds on results of closing of the New York stock exchange on the eve. Besides it, Universal Computer Systems will incur obligations on repayment of duty of Reynolds and Reynolds for the sum of 300 million dollars the Transaction will be carried out in securities.
For financing purchase Universal Computer Systems will apply for the credit in banks Deutsche Bank and Credit Suisse. After end of the transaction the company will continue to conduct the activity under trademark Reynolds and Reynolds. Voting of shareholders under the transaction will pass in 4th quarter of this year. The transaction still should be considered by adjusting bodies of the USA. The termination of transaction is expected in the beginning of 2007.

The American court on affairs of bankruptcies has approved the plan of refinancing of a duty of airline Northwest Airlines. Judge Alan Gopper has approved intention of the company to refinance an existing duty at a rate of 1.13 billion dollars and to receive an additional loan in 250 million dollars owing to what the airline becomes more liquid. Refinancing will help Northwest Airlines to save nearby 34 million dollars a year from payments on percent and 900 million dollars more for repayment of debts to 2010. The fifth on size airline of USA Northwest Airlines has declared the bankruptcy on September, 14th 2005. Its pure losses on results of 2nd quarter of 2006 have increased for 22% - up to 285 million dollars in comparison with losses at the rate of 234 million dollars fixed for the similar period on year earlier.

Net profit of one of the largest air carriers in Southeast Asia Cathay Pacific Airways Ltd. for the first half of 2006 has decreased on 0,1% - up to 1,668 billion Hong Kong dollars (214.5 million dollars) in comparison to 1.67 billion Hong Kong dollars (214.8 million dollars), received for the similar period year earlier. Such data contain in the financial report of the company published today.
A turnover of the company for the first half-year 2006 has increased for 13.4% and has made 27.09 billion Hong Kong dollars (3.48 billion dollars) against 23.88 billion Hong Kong dollars (3.1 billion dollars) year earlier. The operational profit for the accounting period has made 2.12 billion Hong Kong dollars (273 million dollars) that on 0.9% below a similar showing for first half of 2005, fixed on a level 2.14 billion Hong Kong dollars (275 million dollars). As the company marks, on financial activities for the accounting period has affected growth of demand for aviatransportations costs of fuel.

State company Petroleos de Venezuela S.A. (PDVSA) has suggested private concerns to begin investigation and development of four new gas fields in the east of Venezuela. To participation in the transaction 36 companies, among which Chevron Corp., Exxon Mobil, Indian Oil and Natural Gas Corp., Chinese Sinochem, and also Russian Open Societies “LUKOIL” and Open Society “Gazprom” are invited.
Field reserves are estimated in 311.5 billion cubic meters. According to minister of oil of Venezuela Rafael Ramirez, PDVSA plans to 2010 enclose in prospecting project Delta Caribe 172 million dollars. PDVSA will belong from 30 up to 35% of stocks of each of gas fields. Licenses for investigation and development will be given by the end of November of 2006, and industrial production of gas will begin to 2012. In total PDVSA it is ready to invest more than 16 billion dollars, informs Associated Press.
In 2005 five licenses have been given out to the foreign companies, including Chevron and Brazilian Petrobras. PDVSA is measured to increase manufacture of natural gas in Venezuela. In territory of this South American country is located the largest fields on continent of “blue fuel”, however its manufacture does not satisfy its internal needs. It is planned to double gas recovery, which to 2012 should make 326 million cubic meters a day.

Net profit of the largest Hungarian oil-and-gas company MOL Hungarian Oil and Gas Plc. (MOL Group) in 2nd quarter of 2006 has grown on 19% - up to 76,7 billion forint (284.34 million euro) in comparison to 64.3 billion forint (238.37 million euro) for the similar period of the last year. The operational profit for the specified period has grown on 32% - from 77.4 billion forint (286.93 million euro) up to 102.3 billion forint (379.25 million euro). The proceeds of the company for the accounting period have grown on 29% - up to 702.2 billion forint (2.6 billion euro). Such data contain in the report of the company published today.
Results of financial activity of the company have appeared above forecasts of analysts. MOL explains growth of financial parameters by a rise in prices on energy carriers and increase of margin at processing crude oil on a background of the increased demand for mineral oil.

Group of investors buys the company on delivery of food stuffs Aramark Corp. for 6.3 billion dollars. There is a chairman of board of directors and executive director of Aramark Joseph Njubauer in charge of group of investors that buy Aramark. The group includes also private investment companies GS Capital Partners, CCMP Capital Advisors, JPMorgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC. Investors will incur also obligations on payment of duty Aramark for the sum 2 billion dollars.
On conditions of the transaction, shareholders of Aramark will receive 33.80 dollars for each stock Aramark that on 2.3 % exceeds cost of stocks of the company on results of closing of the New York stock exchange on the eve. The transaction will be carried out in carry-over funds.
For financing purchase investors will apply for reception of the loan. Board of directors of Aramark has approved the transaction and is ready to recommend accepting to shareholders Aramark conditions of the agreement. In case of approval of the transaction by shareholders and adjusting bodies of the USA, the transaction will come to the end in the end of 2006, or in the beginning of 2007.
Aramark conducts the activity in 20 countries of the world. In the company work 240 thousand persons. Aramark carries out deliveries of food stuffs in hospitals, schools and on stadiums, informs Associated Press.

Intel Corp. has declared the largest updating a line of let out products for last 6 years. The company has presented family from 10 new processors of family Core 2 Duo which, on a plan of a management, will help Intel to win back a number of the positions, given to the main competitor - Advanced Micro Devices Inc. New chips work on 40 % more quickly, than last models of family Pentium, and thus consume on 40 % of less energy. The price for processors will make from 183 up to 999 dollars. They will go on sale in August 2006. Besides, Intel has declared sharp fall in prices on earlier models of processors. So, the price on developed in 2000 Pentium 4 is lowered on 61 % - with 218 up to 84 dollars Deprecication Pentium D will reach 40 % - with 530 up to 316 dollars. During 2006 Intel has given competing AMD about 5 % of the market.
Net profit of Intel on results of 2nd quarter of 2006 has decreased on 56,6 % - up to 885 million dollars. The Sales volume was reduced to 13 % and has made 8 billion dollars. These activities became the lowest for the company with 2004.

Motorola Inc has redeemed the common stocks for the sum nearby 1.2 billion dollars, the press-service of the company informs about it. Thus, the company has finished the program of the repayment of own stocks for a total sum of 4 billion dollars, declared on May, 18th 2005. As it is marked in the press release, this program became first the initiative under the repayment of own stocks in history of company Motorola.
Company Motorola will immediately pay 1.2 billion dollars and will receive the basic part of these common stocks within three weeks. The concrete quantity of the stocks which are a subject of repayment will pay off proceeding from the average cost of common stock of Motorola for the period of validity of the agreement on the accelerated repayment of actions and according to stipulated minimal and maximum quantity of stocks. On preliminary data, the repayment of last tranche of stocks will be made in 1st quarter of 2007. All the redeemed stocks will be extinguished. In the company have informed, that the board of directors of Motorola has made a decision on the repayment of additional quantity being in circulation own common stocks for the sum up to 4.5 billion dollars during the nearest 36 months provided that the condition of the market will favour to it. On present share price Motorola the sum of 4.5 billion dollars corresponds approximately 9 % of the general market capitalization of the company. “We have finished the program of the repayment of own stocks first in the history almost for two years before the planned term and at once have made a decision on establishment of second such program”, - financial director of Motorola David Devonshir has declared.
As the press-service of the company informs, within the limits of new program of Motorola periodically will carry out the repayment of the actions for cash money resources both in the open market, and in the private order, according to the federal legislation of the USA on securities. The volume and terms of the repayment will be defined by a company management on the basis of an estimation of position in the market, cost of stocks and other factors. The program of the repayment of stocks can be at any moment suspended or stopped. As of July, 1st 2006 the sum of money resources, their equivalents and short-term investments of company Motorola was estimated approximately in 14.4 billion dollars, and volume of net money resources - in 10.1 billion dollars.