Tiffany & Co. (NYSE:TIF) announced its financial results for the second quarter ended July 31, 2011. Net sales rose 30% over the prior year due to strong growth in all geographic regions. Net earnings increased 33% and, excluding nonrecurring charges, rose 58% in the quarter. Net earnings were $0.69 per diluted share in the quarter and, excluding nonrecurring charges, were $0.86 per diluted share. Management increased its earnings forecast for fiscal 2011 to reflect the better-than-expected second quarter results.
Tiffany & Co., through its subsidiaries, engages in the design, manufacture, and retail of fine jewelry worldwide. Its jewelry products include fine and solitaire jewelry; diamond engagement rings and wedding bands for brides and grooms; and non-gemstone, sterling silver, gold, and platinum jewelry.
Cleantech Transit, Inc. (CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company’s manufacturing clients worldwide.
Biomass is biological matter that is derived from plants and animals. It is a renewable source of energy that is primarily made up of carbon. Additionally, other elements like hydrogen, oxygen, nitrogen, alkali, heavy metals and alkaline earth are also integrated with carbon. Both biomass and fossil fuels are made up of biological matter, but still they are different in many ways. For instance, fossil fuels are not a renewable source of energy. Moreover, in its case, the biological matter undergoes several geological processes to form coal and petroleum. Biomass, on the other hand, is derived from living organisms, which are easily replaceable.
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
For more information about Cleantech Transit, Inc. visit its website www.cleantechtransitinc.com
Ameriprise Financial Inc. (NYSE:AMP) plans to host a live audio webcast of its third quarter investor conference call on Thursday, October 27, 2011 at 9:00 a.m. (ET). The company’s third quarter 2011 financial results are scheduled to be released on Wednesday, October 26, 2011 soon after the market closes. The company plans to host a live audio webcast of its annual Financial Community Meeting on Wednesday, November 16, 2011. The meeting will be held at the New York Stock Exchange beginning at 9:00 a.m. (ET). Senior management will update the financial community on the company’s performance, strategy and key areas of focus.
Ameriprise Financial, Inc., through its subsidiaries, provides financial planning, products, and services primarily in the United States.
Mueller Industries Inc. (NYSE:MLI) announced that it entered into a Standstill Agreement with Leucadia National Corporation whereby Leucadia agreed to own no more than 27.5% of Mueller’s outstanding common stock and (Leucadia is entitled to appoint up to two directors to the Company’s Board of Directors. Pursuant to the Standstill Agreement, Leucadia nominated, and the Company’s Board of Directors unanimously elected, Ian M. Cumming, Chairman of Leucadia, and Joseph S. Steinberg, President of Leucadia, to serve on Mueller’s Board of Directors.
Mueller Industries, Inc. manufactures copper, brass, plastic, and aluminum products. It operates in two segments, Plumbing & Refrigeration, and Original Equipment Manufacturers (OEM).
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