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Featured FinancialWire™ News

China In-Focus: Rodobo International Buys 3 Chinese Dairy Producers

February 9, 2010 (FinancialWire) — Rodobo International, Inc. (OTCBB: RDBO) has closed its acquisition of three dairy companies in the People’s Republic of China. The company said that its daily processing capacity of raw milk is expected to increase from 200 tons per day to about 1,200 tons per day following the acquisition.

The company acquired the three firms through the mergers of Ewenkeqi Beixue Dairy Co, Ltd, Hulunbeier Beixue Dairy Co., Ltd, and Hulunbeier Hailaer Beixue Dairy Factory, which are collectively referred to as “Beixue Group,” into Rodobo’s wholly owned subsidiary Tengshun Technology and Development Co., Ltd.

Under equity transfer agreements entered into on February 5, Rodobo paid RMB2.1 million in cash and issued 10.6 million shares of the company’s common stock and two million shares of series A preferred stock in exchange for 100% of the equity interest in Beixue Group composed of Ewenkeqi Beixue, Hulunbeier Beixue and Hulunbeier Hailaer Beixue.

China-based Rodobo is a producer and distributor of powdered milk formula products in China.
[...continued]



China In-Focus: Liu Named To China Advanced Construction Materials Board

February 9, 2010 (FinancialWire) — China Advanced Construction Materials Group, Inc. (NASDAQ: CADC), a provider of ready-mix concrete in China, has appointed Jing Liu as an independent member of the company’s board.  Liu will fill a vacancy on the board, which now consists of seven members.

Liu is currently a member of the board of directors of Southwest Securities Corp.. Previously, she was a member of the board of directors of Guotai Asset Management Ltd.. From 2005 to 2009, she was a senior manager, general manager of the equity capital, and general manager of strategic development for the investment banking department of China Jianyin Investment Ltd.

Beijing-based China Advanced Construction Materials provides materials and services through its six ready-mix concrete plant network covering Beijing metropolitan area.
[...continued]



Gaiam Inks Reebok Licensing Deal

February 9, 2010 (FinancialWire) — Gaiam, Inc. (NASDAQ: GAIA), a producer of lifestyle media and fitness accessories, said it has inked a multi-year licensing agreement with Reebok to launch a new line of Reebok DVDs, fitness accessories, and workout kits.

The Reebok branded fitness DVDs are scheduled to launch in March 2010, with accessories following in summer and fall of 2010.

Massachusetts-based Reebok International is a worldwide designer, marketer and distributor of sports, fitness and casual footwear, apparel and equipment. A subsidiary of the adidas Group, the company operates under the multiple divisions of the Reebok brand, Reebok-CCM Hockey and the Sports Licensed Division.
[...continued]



More Featured Stories...


Featured FinancialWire™ Commentary & Insight

FirstAlert(tm) Daily 2/9: iShrug

- Market Commentary -

February 9, 2010 (FinancialWire) (By Philip Holmes) — Have you been bothered by your own tepid, underwhelmed reaction to the introduction of Apple’s (NASDAQ: AAPL) latest product, the iPad? Take heart: new surveys say you’re not alone, or crazy.

Like many people I was nonplussed by the iPad. But I was also disturbed as hell by that reaction. After all, the economy remains in the doldrums, and no one seems to have a handle on fixing it. But Apple has consistently provided a gleaming ray of hope in this gloom: here was a company that seemed to GET IT, no matter how dark the times were.

With the iPhone, and the new Macs, Apple grew and prospered and helped to remind us that life, and innovation and success would go on.

We were ready for more when Steve Jobs took to the stage at the 2010 Consumer Electronics Show – amid much hype — to give us… the iPad. The device was immediately famous around the world. Awareness of its features, price and design grew at lightning speed. But then came the global shrug.

According to Sci-Tech Today’s Adam Dickter, “Surveys by Retrevo Pulse and ChangeWave found market awareness but few people who plan to buy an iPad.”

Retrevo Pulse’s survey of 1,000 people found that, in the days immediately following the launch, awareness of the iPad grew, but “the number of those who knew about it but were not interested doubled from 26 percent to 52 percent.”
[...continued]



Shares Of Apple Headed Lower, Says Market Timer Frank Kollar

- Market Commentary -

February 9, 2010 (FinancialWire) (By Frank Kollar) — Shares of Apple Inc (NASDAQ: AAPL) have lost ground since the announcement of their highly anticipated tablet device, the new Apple iPad.

A couple weeks back we wrote; “shares of Apple are not acting right.”

Since we wrote that, share prices have declined almost 10%. There are several other negative indicators to worry about.

Apple shares look like they have had a bearish double top on January 5 and January 19.

Apple shares have broken below a rising trend support line that has held all declines since May 14, 2009.

Apple shares have crossed below their 50-day moving average.

All of these bearish events could add up to nothing more than a normal correction, except that they have occurred right after blow-out earnings and the Apple iPad announcement.
[...continued]



Higher Interest Rates Are Coming, Says Dr. Joe Duarte

- Market Commentary -

February 9, 2010 (FinancialWire) — Dr. Joe Duarte (http://www.joe-duarte.com) recently noted: Shares of Wells Fargo Inc. (NYSE: WFC) are in danger of breaking to new lows. Among the general fears in the market, is the potential for higher interest rates which are generally negative for bank stocks.

Duarte added: The Federal Reserve want to raise interest rates at some point in the future. And although there is no hurry, the central bank is putting together its strategy despite some significant differences of opinion inside the institution.

Fed Chairman Ben Bernanke, fresh from a controversial, but still valid confirmation, is about to set on a difficult campaign, that of taking away the proverbial punch bowl of low interest rates from the markets and the economy. According to The Wall Street Journal, Mr. Bernanke will be using a new tool, an interest rate the Fed pays banks on money they leave on reserve at the central bank. Known as interest on excess reserves, this rate is now 0.25%. The way this new device, which Congress gave Mr. Bernanke in 2008, works is this: When the Fed is ready to tap the brakes, it plans to raise the rate paid on excess reserves, according to Fed officials in interviews and recent speeches. The higher rate would entice banks to tie up money they otherwise might lend to customers or other banks. The Fed expects such a maneuver to pull up other key short-term rates, including the federal-funds rate at which banks lend to each other overnight—long the main tool for steering the economy.
[...continued]



More Commentary & Insight...

More FinancialWire™ News

Pennsylvania ConAgra Workers Ratify 3 Year Pact

February 9, 2010 (FinancialWire) — More than 700 members of the United Food and Commercial Workers Local 38, who work at the ConAgra (NYSE: CAG) facility in Milton, Pennsylvania have ratified a new, three-year agreement contract with their employer.

According to the union, the deal includes wage increases that average $1.87 per hour over the three-year-agreement and improved retirement security pension, among other provisions.
[...continued]




Mac-Gray Sells MicroFridge

February 9, 2010 (FinancialWire) — Mac-Gray Corp. (NYSE: TUC), a provider of laundry facilities management services to multi-unit housing locations, said it has sold its MicroFridge business to Danby Products, an appliance marketing firm.

The transaction is valued by Mac-Gray at around $11.5 million. Under the deal, Danby paid Mac-Gray $8.5 million in cash, and assumed existing liabilities and financial obligations for MicroFridge totaling around $3 million.
[...continued]




Libbey Sells $400 Million Of Senior Secured Notes

February 9, 2010 (FinancialWire) — Libbey Inc.’s (AMEX: LBY) Libbey Glass Inc. unit has completed a private placement of $400 million aggregate principal amount of 10% senior secured notes due 2015).

Libbey Glass used the net proceeds, together with cash on hand, to repurchase its existing $306 million Floating Rate Senior Secured notes due 2011 in a previously announced tender offer,
[...continued]




United Technologies Ups Dividend

United Technologies Corp.’s (NYSE: UTX) board of directors has approved a 10.4 percent increase in its first quarter dividend to 42.5 cents per common share. The dividend is payable March 10 to shareowners of record at the close of business February 19.

The ex-dividend date is February 17.
[...continued]




Jack Henry Ups Dividend

February 9, 2010 (FinancialWire) — Jack Henry & Associates‘ (NASDAQ: JKHY) board of directors has increased the company’s quarterly cash dividend by 12 percent to $.095 per share.
[...continued]




Manitex International Receives $4 Million Of Orders

February 9, 2010 (FinancialWire) — Manitex International, Inc. (NASDAQ: MNTX), a maker of specialized vehicles, said it has received three orders valued at $4 million for shipment during the first half of 2010.
[...continued]




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Ness Technologies Wins $11 Million Israeli Government Outsourcing Contract Chairman Gelbaum Named CEO Of Entech Solar
StarTek Plans Philippines R&D Center Alpha Pro Tech Ups Buyback Authorization
Archer Daniels Midland Taps Jansen To Head Oilseeds Unit Radcliffe Named To UTEK Board
EMCOR Expands Credit Revolver First Bank Sells Texas Branches
Oshkosh Wins $84 Million Military Contract Kibsgaard Named COO At Schlumberger
Scott Named To NYSE Euronext Board Autodesk Establishes Israeli R&D Center
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