Market Roundup (F, BX, CVX, STXS)
Ford (NYSE: F) has selected LG Chemical as the supplier of lithium-ion batteries for its Ford Focus Electric. Focus Electric is an all-electric version of one of its top sellers and will be available in the market in 2011.
GSO Capital Partners, the credit unit of Blackstone (NYSE: BX), has raised $3.25 billion for a fund. The capital raised for the GSO Capital Solutions fund, which finances distressed mid-market companies, is more than BX’s target of $2 billion. According to the company's Bennett Goodman, "There are many great business franchises facing liquidity issues."
Chevron's (NYSE: CVX) has cited strong downstream profits and stronger US dollar as the reason for a sharp recovery in its second-quarter profit. In its interim second-quarter update, CVX mentioned that Gulf Coast refining margins are up 61%. The company also expects net charges to be around $250-350 million, significantly less than the previous guidance.
Cardiology equipment maker Stereotaxis (NASDAQ: STXS) jumped 23.17%, after it mentioned that its capital orders, specifically from North America, have more than doubled from the previous year levels. STXS’s new capital orders stand at $10.2 million, representing a 42% sequential growth in orders. The company noted that procedures using its equipment are rising steadily.
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