In a federal court complaint, the New York bank said that the FDIC failed to honor obligations under the Washington Mutual agreement, and that has subjected JPMorgan to massive liability.
The FDIC became the receiver for Washington Mutual, during the largest bank failure in U.S. history. JPMorgan Chase & Co. said the FDIC then made promises to indemnify or protect the bank against liabilities if it stepped in.
JPMorgan said in a court filing Tuesday that the FDIC then declined to acknowledge that claims against JPMorgan for Washington Mutual's conduct should have been claims against the receivership.
The FDIC did not immediately return calls seeking comment from The Associated Press early Wednesday.
5 Best Restaurant Stocks To Invest In Right Now: MineralRite Corp (RITE)
MineralRite Corporation, formerly Royal Quantum Group Inc., incorporated on October 22, 1996, is a development-stage company. The Company is engaged in the acquisition, exploration and development of oil and gas and mineral properties. During the year ended December 31, 2009, the Company acquired a 36% interest in the drilling and development of the Gleason 4-16 well located in Oklahoma. In April 2013, it acquired the entire share capital of Goldfield International Inc.
The Company owns 100% interest in 1,540 acres that consist of 77 claims of prospective uranium property. The prospective uranium property is located adjacent to the Sheep Mountain Mine in Fremont County, Central Wyoming, approximately 90 miles southwest of Casper, Wyoming.
Advisors' Opinion:- [By Peter Graham]
Small cap stocks MineralRite Corp (OTCMKTS: RITE), New China Global Inc (OTCMKTS: NCGI) and Metrospaces Inc (OTCMKTS: MSPC) have all been getting some extra attention lately in various investment newsletters thanks to a few paid promotions. Of course, there is nothing wrong with properly disclosed promotions or investor relations type of activities, but they can and often do backfire on unwary investors and traders alike. So how hot are these three small caps for investors? Here is a quick reality check:
5 Best Healthcare Technology Stocks For 2014: Statoil ASA (STO)
Statoil ASA (Statoil), incorporated on September 18, 1972, is an integrated energy company primarily engaged in oil and gas exploration and production activities. As of December 31, 2011, the Company had business operations in 41 countries and territories. Effective from January 1, 2011, the Company�� segments were Development and Production Norway; Development and Production International; Marketing, Processing and Renewable Energy; Fuel & Retail, Other. As of 31 December 2011, the Company had proved reserves of 2,276 million barrels (mmbbl) and 3,150 billion cubic meters (bcm) (equivalent to 17,681 trillion cubic feet (tcf)) of natural gas, corresponding to aggregate proved reserves of 5,426 mmboe. In December 2011, the Company acquired Brigham Exploration Company. On April 14, 2011, Statoil's formation of a joint venture and sale of 40% of the Peregrino field off the coast of Brazil to the Sinochem Group was closed. With effect from January 2011, Statoil formed a joint venture with PTTEP of Thailand in its oil sands business and, as part of that transaction, sold PTTEP a 40% interest in the leases in Alberta, Canada. Statoil retains 60% ownership and operatorship of the oil sands project. In June 2012, the Company divested its 54% interest in Statoil Fuel & Retail ASA to Alimentation Couche-Tard.
Development and Production Norway
Development and Production Norway (DPN) consists of the Company�� field development and operational activities on the Norwegian continental shelf (NCS). Development and Production Norway is the operator of 44 developed fields on the NCS. Statoil's equity and entitlement production on the NCS was 1.316 mmboe per day in 2011, which was about 71% of Statoil's total production. Acting as operator, DPN is responsible for approximately 72% of all oil and gas production on the NCS. In 2011, its average daily production of oil and natural gas liquids (NGL) on the NCS was 693 mboe, while its average daily gas production on the NCS was 99.1 mmcm (3.5 b! illion cubic feet (bcf)). The Company has an ownership interests in exploration acreage throughout the licensed parts of the NCS, both within and outside its production areas. It participates in 227 licenses on the NCS and is the operator for 171 of them. As of 31 December 2011, Statoil had a total of 1,369 mmbbl of proved oil reserves and 444 bcm (15.7 tcf) of proved natural gas reserves on the NCS. Total entitlement liquids and gas production in 2011 amounted to 1,316 mmboe per day.
Statoil's NCS portfolio consists of licenses in the North Sea, the Norwegian Sea and the Barents Sea. It has organized its production operations into four business clusters: Operations South, Operations North Sea West, Operations North Sea East and Operations North. The Operations South and Operations North Sea West and East clusters cover its licenses in the North Sea. Operations North covers the Company�� licenses in the Norwegian Sea and in the Barents Sea, while partner-operated fields cover the entire NCS and are included internally in the Operations South business cluster. During 2011, it two Statoil-operated oil discoveries: the Aldous discovery (PL265) in the North Sea and the Skrugard discovery (PL532) in the Barents Sea. The Aldous Major South discovery in PL265 on the Utsira Height in the Sleipner area is situated 140 kilometers west of Stavanger and 35 kilometers south of the Grane field. The Skrugard discovery is located about 250 kilometers off the coast from the Melkoya LNG plant in Hammerfest.
As of December 31, 2011, the Company�� fields under development included the Gudrun, Valemon, Visund South, Hyme, Stjerne, Vigdis North-East, Skuld, Vilje South, Skarv, and Marulk. In 2011, the Company�� total entitlement oil and NGL production in Norway was 252 mmbbl, and gas production was 36.2 bcm (1,287 bcf). The main producing fields in the Operations South area are Statfjord, Snorre, Tordis, Vigdis, Sleipner and partner-operated fields. Operations North Sea East is a gas area tha! t also co! ntains quantities of oil. The area includes the Troll, Fram, Vega, Oseberg and Tune fields. The Company�� producing fields in the Operations North area are Asgard, Mikkel, Yttergryta, Heidrun, Kristin, Tyrihans, Norne, Urd, Alve, Njord, Snohvit and Morvin.
Development and Production International
Development and Production International (DPI) is responsible for the development and production of oil and gas outside the Norwegian continental shelf (NCS). In 2011, the segment was engaged in production in 12 countries: Canada, the United States, Brazil, Venezuela, Angola, Nigeria, Iran, Algeria, Libya, Azerbaijan, Russia and the United Kingdom. In 2011, DPI produced 28.9% of Statoil's total equity production of oil and gas. Statoil has exploration licenses in North America (Gulf of Mexico, Canada and Alaska), South America and sub-Saharan Africa (Brazil, Cuba, Suriname, Venezuela, Angola, Mozambique and Tanzania), Middle East and North Africa (Libya and Iran) and Europe and Asia (the Faeroes, Greenland, the United Kingdom, Azerbaijan and Indonesia). The main sanctioned development projects in which DPI is involved are in the United States, Angola and Canada. The Brigham Exploration Company acquisition added production of approximately 21 mboe per day (as of December) to Statoil's production and gave access to 1,500 square kilometers (375,000 acres) in the Bakken and Three Forks formations in the Williston Basin.
The Company has exploration licenses in North America (Gulf of Mexico, Canada and Alaska), South America and sub-Saharan Africa (Brazil, Cuba, Suriname, Venezuela, Angola, Mozambique and Tanzania), Middle East and North Africa (Libya and Iran), and Europe and Asia (the Faroes, Greenland, the United Kingdom, Azerbaijan and Indonesia). It completed 16 wells in 2011. Five were announced as discoveries: the Mukuvo and Lira discoveries in Angola, the Gavea and Peregrino South discovery in Brazil and the Logan discovery in Gulf of Mexico (GoM). Statoil acquired in! terests i! n six new licenses in Indonesia in 2011. Statoil has activities in the United States, with approximately 300 exploration leases in the GoM and 66 in Alaska. It is also an operator and partner in exploration licenses off the coast of Newfoundland in Canada. Statoil is operator and partner in exploration licenses off the coast of Newfoundland (11,138 square kilometers). It has exploration licenses in Brazil, Cuba, Suriname, Venezuela, Angola, Mozambique and Tanzania. The Company has licenses in Libya, Iran, Faroes, Greenland, the United Kingdom, Azerbaijan and Indonesia. In 2011, Statoil's petroleum production outside Norway amounted to an average of 334 mboe per day of entitlement production and 534 mboe per day of equity production.
The Company has activities in the United States Gulf of Mexico, the Appalachian region, south-west Texas, the Williston Basin, off the East Coast of Canada and in the oil sands of Alberta, Canada. It also has a representative office in Mexico City. Offshore, the Company has production interests in Hibernia and Terra Nova, and interests in two development projects. Its development and production activities in South America and sub-Saharan Africa comprise the Peregrino operatorship in Brazil, the Petrocedeno project in Venezuela, the Agbami offshore field in Nigeria and four Angolan offshore blocks. Statoil's development and production in the Middle East and North Africa in 2011, primarily encompassed Algeria, Libya, Egypt, Iran and Iraq. The Company�� Development and Production in Europe and Asia primarily comprises Azerbaijan, Russia, United Kingdom and Ireland.
Marketing, Processing and Renewable Energy
Marketing, Processing and Renewable Energy (MPR) is responsible for the transportation, processing, manufacturing, marketing and trading of crude oil, natural gas, liquids and refined products, and for developing business opportunities in renewables. It runs two refineries, two gas processing plants, one methanol plant and three crude! oil term! inals. MPR is also responsible for marketing gas supplies originating from the Norwegian state's direct financial interest (SDFI). In total, it is responsible for marketing approximately 80% of all Norwegian gas exports. In 2011, Statoil sold 36.1 bcm (1.3 tcf) of natural gas from the Norwegian continental shelf (NCS) on its own behalf, in addition to approximately 33.5 bcm (1.2 tcf) of NCS gas on behalf of the Norwegian state. Statoil's total European gas sales, including third-party gas, amounted to 79.8 bcm (2.9 tcf) in 2011, of which 39.5 bcm (1.4 tcf) was gas sold on behalf of the Norwegian state. The Natural Gas business cluster is responsible for Statoil's marketing and trading of natural gas worldwide, for power and emissions trading and for overall gas supply planning. In 2011, the Company sold 36.1 bcm (1.3 tcf) of natural gas from the NCS on its own behalf, in addition to approximately 33.5 bcm (1.2 tcf) of NCS gas on behalf of the Norwegian state. Statoil's total European gas sales, including third-party gas, amounted to 79.8 bcm (2.9 tcf) in 2011, of which 39.5 bcm (1.4 tcf) was gas sold on behalf of the Norwegian state. In addition, it sold 5.5 bcm (0.2 tcf) of gas originating from its international positions, mainly in Azerbaijan and the United States, of which 2.7 bcm (0.1 tcf) was entitlement gas. As technical service provider (TSP), Statoil is responsible for the operation, maintenance and further development of the Karsto gas processing plant on behalf of the operator Gassco.
Statoil is the seller of crude oil, operating from sales offices in Stavanger, Oslo, London, Singapore, Stamford and Calgary and selling and trading crude oil, condensate, NGL and refined products. Statoil holds the lease for the South Riding Point crude oil terminal in the Bahamas, which includes, oil storage as well as loading and unloading facilities. It also operates the Mongstad terminal and has shared ownership with Petoro. The Company is a majority owner (79%) and operator of the Mongstad ref! inery in ! Norway, which has a crude oil and condensate distillation capacity of 220,000 barrels per day. It is the sole owner and operator of the Kalundborg refinery in Denmark, which has a crude oil and condensate distillation capacity of 118,000 barrels per day. In addition, it has rights to 10% of production capacity at the Shell-operated refinery in Pernis in the Netherlands, which has a crude oil distillation capacity of 400,000 barrels per day. The Company�� methanol operations consist of an 81.7% interest in the gas-based methanol plant at Tjeldbergodden, Norway, which has a design capacity of 0.95 million tons per year. It also operates the Oseberg Transportation System (36.2% interest), including the Sture crude oil terminal.
Technology, Projects and Drilling
Technology, Projects and Drilling (TPD) is responsible, as a global service provider to Statoil, for delivering projects and wells and for providing support through global expertise, standards and procurement. TPD is also responsible developing and implementing new technological solutions. Statoil's research and development portfolio is organized in seven programs covering the upstream building blocks. The research and development organization operates and develops laboratories and test facilities and has an academia program that addresses cooperation with universities and research institutes.
Global Strategy and Business Development
Global Strategy and Business Development (GSB) was established in 2011, with its main office in London. GSB sets the direction for Statoil and identifies, develops and delivers opportunities for global growth.
Advisors' Opinion:- [By Tyler Crowe]
Several of these countries already have significant control over prices in certain regions of the world. For example, both Gazprom and Norway's Statoil (NYSE: STO ) are responsible for 40% of Europe's natural gas market, all of which is sold on those lucrative oil-indexed contracts.
- [By Arjun Sreekumar]
The field, located about 250 miles southwest of New Orleans, is one of the biggest oil discoveries in the ultra-deepwater frontier of the Gulf of Mexico and is estimated to contain nearly 6 billion barrels of oil resource in place. Exxon and Statoil (NYSE: STO ) , the Norwegian oil and gas giant, each hold a 50% interest in the field.
- [By Aimee Duffy]
A fond farewell?
Many companies have abandoned capital expenditure plans in other plays to put more money behind their Eagle Ford ventures. Reuters recently reported that Talisman Energy (NYSE: TLM ) is considering selling its 74,000-acre stake in the play, potentially looking to raise a whopping $2 billion. Given the money that companies are willing to pour into the Eagle Ford, it just might find a buyer. Talisman's joint venture with Statoil (NYSE: STO ) is targeting production of 30,000 barrels of oil equivalent by the end of this year, which would double last year's number.
5 Best Healthcare Technology Stocks For 2014: Cleantech Solutions International Inc (CLNT)
Cleantech Solutions International, Inc., incorporated on June 24, 1987, manufactures and sells forged products and fabricated products to a range of clean technology customers, including forged rolled rings and related products for the wind power industry and other industries and equipment to the solar industry. The Company also makes textile dyeing and finishing machines. The Company is owner of Fulland Limited (Fulland). Fulland owns 100% of Green Power Environment Technology (Shanghai) Co., Ltd. (Green Power) and Wuxi Fulland Wind Energy Equipment Co., Ltd. (Fulland Wind Energy), which are wholly foreign-owned enterprises (WFOE) organized under the laws of the People�� Republic of China. Green Power is a party to a series of contractual arrangements with Wuxi Huayang Electrical Power Equipment Co., Ltd. (Electrical) and Wuxi Huayang Dyeing Machinery Co., Ltd. (Dyeing). Dyeing produces and sells a range of high and low temperature dyeing and finishing machinery for the textile industry. The Company refers to this segment as the dyeing division. The Company is engaged in two business segments: the forged rolled rings and related components segment, in which it manufacture and sell forged rolled rings, yaw bearings and shafts, and other forged components for the wind power and other industries, as well as equipment for the solar power industry, and the dyeing and finishing equipment segment, in which it manufactures and sell textile dyeing and finishing machines.
Forged Rolled Rings and Related Components Segment
The Company produces precision forged rolled rings and other forged components to the wind and other industries. Forged rolled rings and other forged components for the wind industry are used in wind turbines, which are used to generate wind power. It also manufactures shafts and forged rolled rings for gear rims, flanges and other applications. In addition to the wind industry, it sells its forged rolled rings and other forged components in other industries, inclu! ding heavy machinery manufacturing, petrochemical, metallurgical, sea port machinery, defense and radar manufacturing industries, which uses its forged rolled rings railway as components in the manufacture of equipment. It produces precision forgings using axial close-die forging technology, which is a technology for producing rotary precision forgings, using forging equipment, which it manufactured for its own use.
During the year ended December 31, 2011, the Company manufactured and delivered test subassemblies for solar cell manufacturing equipment, which marked its entry into the solar products market. It supplies solar components used in production of multi crystalline and mono crystalline silicon wafers. Solar industry capabilities include the manufacture of complex pressure vessels and chamber, high temperature vessels, and thick-walled vessels. Its forged rolled rings and other related products are sold for use by manufacturers of industrial equipment.
The Company competes with Wuxi Dachang Group.
Dyeing and Finishing Equipment Segment
Through the Company�� dyeing and finishing segment, it designs, manufactures and distributes a range of high and low temperature dyeing and finishing machinery. Its products feature both automation and mechanical-electrical integration. Its products are used in dyeing yarns, such as pure cotton, cotton-polyester, terylene, polyester wool, poly-acrylic fiber, nylon, cotton ramie, and wool yarn.
The Company competes with Fong�� National Engineering (Shenzhen) Co., Ltd.
Advisors' Opinion:- [By Roberto Pedone]
Another basic materials player that looks ready to trigger a major breakout trade is Cleantech Solutions (CLNT), which manufactures and sells high-precision forged rolled rings, yaw bearings and shafts. It also manufactures and sells textile dyeing and finishing machines. This stock is off to a strong start in 2013, with shares up 58%.
If you take a look at the chart for Cleantech Solutions, you'll notice that this stock has been uptrending for the last two months and change, with shares moving higher from its low of $4.82 to its recent high of $7.04 a share. During that uptrend, shares of CLNT have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of CLNT within range of triggering a major breakout trade.
Traders should now look for long-biased trades in CLNT if it manages to break out above some near-term overhead resistance levels at $6.68 to $7.04 a share, and then once it takes out more resistance at $7.79 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 758,917 shares. If that breakout hits soon, then CLNT will set up to re-test or possibly take out its next major overhead resistance levels at $9 to $10 a share.
Traders can look to buy CLNT off any weakness to anticipate that breakout and simply use a stop that sits right below its 50-day at $5.67 a share, or around more support at $5 a share. One could also buy CLNT off strength once it takes out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.
5 Best Healthcare Technology Stocks For 2014: Viacom Inc. (VIA)
Viacom Inc. operates as an entertainment content company in the United States and internationally. The company connects with audiences through compelling content on television, motion picture, online, and mobile platforms. It operates in two segments, Media Networks and Filmed Entertainment. The Media Networks segment provides entertainment content and related branded products to advertisers, content distributors, and retailers in various distribution platforms, such as television, online, and mobile devices, as well as through consumer products. It operates approximately 200 TV channels, and digital and mobile TV properties, which include MTV, VH1, CMT, Logo, BET, CENTRIC, Nickelodeon, Nick Jr., TeenNick, Nicktoons, Nick at Nite, COMEDY CENTRAL, TV Land, SPIKE, Tr3s, Paramount Channel, VIVA, and others, as well as a casual games business that includes Web sites, such as AddictingGames.com and Shockwave.com. In addition, this segment operates BET Networks, which provide en tertainment, music, news, and public affairs programming to the African-American audience; and BET channel, CENTRIC, BET Gospel, and BET Hip Hop, as well as BET.com, an online destination that offers content and interactive features for news, music, community, culture, and other areas to African-Americans. The Filmed Entertainment segment produces, finances, and distributes motion pictures and other entertainment content under the Paramount Pictures, Paramount Vantage, Paramount Classics, Insurge Pictures, MTV Films, and Nickelodeon Movies brands. It also acquires films for distribution, as well as distributes motion pictures and other entertainment content on DVD and Blu-ray, video-on-demand, subscription video-on-demand, pay and basic cable television, broadcast television, and syndicated television platforms. This segment has a library of approximately 3,300 motion pictures and television programs. The company is headquartered in New York, New York. Viacom, Inc. (NasdaqGS :VIAB) operates independently of CBS Corporation as of Dec! ember 31, 2005.
Advisors' Opinion:- [By Eric Volkman]
Getty Images He might be a humble yellow cleaning accessory, but one Hollywood studio expects to extract big silver-screen profits from SpongeBob SquarePants. The upcoming feature-film sequel "SpongeBob SquarePants 2" will be the first effort from Viacom's (VIA) (VIAB) Paramount Animation unit. The division's debut movie will feature an unusual slant -- it will be a relatively rare blend of animation and live action. Drawing Its Own Future Viacom has been at this for a while. It launched Paramount Animation in mid-2011, on the back of its go-it-alone success "Rango" (which was branded under the umbrella Paramount name). The out-there Western was not only a box office hit, raking in $246 million in global ticket sales against an estimated production budget of $135 million. It also collected an Oscar for Best Animated Feature. The following year, the studio's distribution deal with DreamWorks Animation (DWA) expired, leaving it without a steady flow of cartoon titles. Bringing animation in-house was a natural move to stay in the game. But apparently not an easy one. Less than six months after being born, Paramount Animation lost its top executive when the division's president, David Stainton, resigned for "personal reasons." Still, the company was clearly determined to push ahead, and development of the "SpongeBob" sequel rolled along. Cleaning Up at the Box Office Mr. SquarePants is an obvious choice for a debut. Paramount Animation doesn't have to worry about pricey licensing fees, because parent Viacom already holds the rights. SpongeBob has been a longtime staple of the company's Nickelodeon TV network, where it's one of the highest-rated kid shows on basic cable. And Paramount knows the franchise can succeed on the big screen. "The SpongeBob SquarePants Movie" (like "Rango," made under the Paramount name) sold more than $140 million worth of tickets worldwide during its 2004 theatrical release -- nearly five times its estimated production budget. I
- [By Rick Munarriz]
Many young families still haven't forgiven Netflix for letting its licensing deal with Viacom (NASDAQ: VIA ) , covering popular Nickelodeon and Nick Jr. shows, expire in late May. Saying farewell to SpongeBob SquarePants and Dora the Explorer will get a lot easier if Turbo's a hit and subscribers flock to Netflix as the only way to see the subsequent animated series.
- [By Dan Carroll]
The Mark Walhberg-led film, distributed by Viacom (NASDAQ: VIA ) subsidiary Paramount Pictures, pulled in enough to also rank third in worldwide sales this weekend despite making its U.S.-exclusive debut, according to data from media measurement firm Rentrak.
No comments:
Post a Comment