Editor’s Note: Related Tickers: Westport Innovations Inc. (USA) (NASDAQ:WPRT), Vringo, Inc. (NASDAQ:VRNG), Molycorp Inc (NYSE:MCP)
Westport Adds Popular Ford F-150 to its Natural Gas Product Offerings (Wall Street Journal)
Westport Innovations Inc. (USA) (NASDAQ:WPRT), engineering the world’s most advanced natural gas engines and systems, today announced it will offer the newly launched natural gas powered Ford F-150 featuring the Westport WiNG(TM) Power System in both the United States and Canada. “Our customers have been anticipating the availability of a natural gas version of Ford’s flagship pick-up truck, and as we believe Westport Innovations Inc. (USA) (NASDAQ:WPRT) has the largest portfolio of Ford Qualified Vehicle Modifier (QVM) products, this will give us even greater options for fleets and consumers,” said John Lapetz, Vice President, Westport. “Ford has recognized the market demand and responded by adding one of its most popular models to the natural gas line-up.” Westport Innovations Inc. (USA) (NASDAQ:WPRT) expects to begin deliveries in the first quarter of 2014, applying its leading quality testing and manufacturing processes.
At the end of the trading day Friday, shares of Vringo, Inc. (NASDAQ:VRNG) spiked higher. By the time the market closed, the stock was up more than 10 percent. Soon after the close, it was learned that the District Court of Eastern Virginia ruled in favor of Vringo in its petition to collect post-judgment interest, supplemental damages, and pre-judgment interest. The trial started in 2011 when Vringo subsidiary, I/P Engine filed suit against AOL, Google, Target and others for infringement on several patents. In November of last year, a jury found that two of IP Engine’s patents were infringed and awarded damages of more than $30 million along with a 3.5 percent royalty rate.
Molycorp Declares Preferred Dividend (MarketWatch)
Molycorp Inc (NYSE:MCP) today announced that its Board of Directors has elected to declare a cash dividend on outstanding shares of its 5.50% Series A mandatory convertible preferred stock in an amount equal to $1.375 per share. Molycorp will pay the dividend on September 1, 2013 to the holders of record of shares of Series A mandatory convertible preferred stock at the close of business on August 15, 2013. As of August 1, 2013, there were a total of 2,070,000 shares of Series A mandatory convertible preferred stock outstanding.
Westport Reports 2Q Loss on Higher Expenses; Revenue Rises (Transport Topics Online)
Westport Innovations Inc. (USA) (NASDAQ:WPRT), which makes natural gas engines for trucking in a venture with Cummins Inc., reported a second-quarter net loss on higher expenses but announed that its revenue rose to a record on year-over-year growth. The Vancouver, British Columbia, company lost $33.9 million, or 61 cents a share, compared with a loss of $6.1 million, or 11 cents, a year ago. Revenue rose 38% to $78 million, and the company said it shipped more than 2,700 engines in the quarter.
August 9th Options Now Available For Molycorp (MCP) (Forbes)
Investors in Molycorp Inc (NYSE:MCP) saw new options become available today, for the August 9th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the MCP options chain for the new August 9th contracts and identified one put and one call contract of particular interest. The put contract at the $7.50 strike price has a current bid of 45 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $7.50, but will also collect the premium, putting the cost basis of the shares at $7.05 (before broker commissions). To an investor already interested in purchasing shares of Molycorp Inc (NYSE:MCP), that could represent an attractive alternative to paying $7.57/share today.
