CORAL SPRINGS, Florida, September 22, 2016 /PRNewswire/ --
The Federal Reserve on Wednesday left interest rates alone for now as Chairwoman Janet Yellen said senior officials are generally pleased how the economy is presently doing. Several Small Cap to Large Cap companies closed up yesterday as well as releasing new developments in the markets, such as MagneGas Corporation (NASDAQ: MNGA), Encana Corporation (NYSE: ECA), Chesapeake Energy Corporation (NYSE: CHK), Applied Materials, Inc. (NASDAQ: AMAT) and Micron Technology, Inc. (NASDAQ: MU).
MagneGas Corporation (NASDAQ: MNGA) News: MagneGas Successfully Completes Gasification System Construction for Expansion into Gulf Coast with Agreements that calls for $775,000 Equipment Sale, Royalty Payments and Future Expansion Rights with Additional Equipment Sales. The Company announced today that it has successfully completed construction of the Plasma-Arc Gasification system (the "System") that was previously announced as contracted for sale (the "Gasifier Agreement") to Green Arc Supply, LLC of Louisiana ("Green Arc"). Pursuant to the terms of the Gasifier Agreement, the Company has received a total of $583,750 towards the construction of the system. The final payment of $191,500 is due upon factory acceptance, which is expected in the next 30 days. A Distribution and License Agreement with Green Arc (the "Distribution Agreement") signed at the same time as the Gasifier Agreement calls for Green Arc to pay MagneGas royalty payments that equate to approximately 6% of gross sales of MagneGas2® fuel and other products by Green Arc.
Read the full MagneGas (MNGA) Press Release athttp://financialnewsmedia.com/profiles/mnga.html
Under the terms of the Distribution Agreement, once the final payment is made, Green Arc will have exclusive distribution rights to MagneGas2® for certain regions of Louisiana and Texas with non-exclusive distribution rights in remaining regions of Louisiana and Texas and all of Arkansas, Mississippi and Oklahoma. Green Arc has the right to expand their exclusivity in those states with the purchase of additional systems. The Company believes the Distribution Agreement may result in further significant capital infusions for the Company through royalty payments and further equipment sales. Ermanno Santilli, CEO of MagneGas Corporation stated: "Completing construction of the System is the single most important event of this year as it signifies a new era in the Company's operating model. Reaching this milestone shows that the Company is not only able to perform at a high productivity level but that it has the ability to be an extremely capable manufacturer. I look forward to expanding our relationship with Green Arc as we seek to grow MagneGas2® sales throughout the Gulf Coast region."
For a complete insight into MGNA operations go to this free, independent report: http://investmentresearchreport.com/mnga-report/?=fn
In other market performers of note from yesterday's trading:
Encana Corporation (NYSE: ECA) closed up at $9.35 on Wednesday on over 48 Million shares traded by the market close. Encana Corp recently announced the pricing of its public offering ("Offering") of common shares ("Shares") of Encana. Encana agreed to sell 107,000,000 Shares at a public offering price of US$9.35 per Share for gross proceeds to Encana of US$1,000,450,000.
Chesapeake Energy Corporation (NYSE: CHK) closed up at $6.74 on Wednesday trading close to the Average 3 Month trading volume of just over 40 Million shares traded by the market close. Chesapeake Energy's operations are focused on discovering and developing its large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the United States
At its 2016 Analyst Day, Applied Materials, Inc. (NASDAQ: AMAT) detailed its innovation leadership strategy to drive sustainable growth and announced target non-GAAP adjusted earnings per share of $2.45 to $3.17 for fiscal 2019, with a midpoint of $2.80. This would represent compound earnings growth of approximately 17 percent over the next three years. Applied highlighted how the semiconductor industry's major transition from lithography-based scaling to materials-enabled scaling has increased Applied's addressable opportunity from 53 percent of WFE spending in calendar 2012 to an estimated 63 percent this year. With the broadest portfolio of materials engineering technologies and its unique Product Development Engine process, Applied now expects to achieve a 4-point gain in its share of WFE spending and nearly double its display business, from 2012 through 2016. By delivering enabling service products to support customers as they make these challenging technology transitions, the company expects to grow its services business revenue by $600 million from fiscal 2013 through 2016.
Lexar, a global brand of Micron Consumer Products Group, Inc., a subsidiary of Micron Technology, Inc. (NASDAQ: MU), this week announced two high-performance storage solutions to easily transfer and share content between devices with USB Type-C or micro-USB port. The Lexar®JumpDrive® C20c USB Type-C flash drive (USB-C) and JumpDrive C20m micro-USB flash drive are the newest products to join the premium suite of C-series mobile products, including the Lexar JumpDrive C20i flash drive. The new JumpDrive products are being launched at Photokina 2016.
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