Cincinnati Financial Corp. (Nasdaq:CINF) reported $49 million, or 30 cents per share, of net loss for the second quarter of 2011 compared with $27 million, or 17 cents net income per share, in the 2010 second quarter. Operating loss* of $93 million, or 57 cents per share, compared with operating income of $42 million, or 26 cents. $76 million decrease in second-quarter 2011 net income driven by a $137 million after-tax decrease in the contribution from property casualty underwriting operations. The after-tax effect of second-quarter 2011 property casualty losses from natural catastrophes totaled $189 million, up $124 million compared with the same period of 2010. The contribution to income from investments, including net realized investment gains, rose $60 million for the quarter.
Cincinnati Financial Corporation engages in the property casualty insurance business in the United States. Its Commercial Lines Property Casualty Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation
Matthews International Corporation (Nasdaq:MATW) announced earnings for the quarter ended June 30, 2011. Net income attributable to the Company increased to $21,875,000 for the fiscal 2011 third quarter, compared to $20,411,000 for the same quarter a year ago. Earnings per share for the fiscal 2011 third quarter were $0.74 per share, compared to $0.68 per share for the third quarter of fiscal 2010.
Matthews International Corporation designs, manufactures, and markets memorialization products and brand solutions for the cemetery and funeral home industries in the United States, Mexico, Canada, Europe, Australia, and Asia.
Incyte Corporation (Nasdaq:INCY) reported second quarter financial results, provided updated information on key clinical programs and described preparations for the potential launch of ruxolitinib, an oral JAK1 and JAK2 inhibitor, that is being developed as a treatment for patients with myelofibrosis (MF). The Marketing Authorization Application for ruxolitinib as a treatment for MF was submitted to the European Medicines Agency by Novartis, our collaboration partner outside of the US, in June.
Incyte Corporation focuses on the discovery and development of proprietary small molecule drugs for hematologic and oncology indications, and inflammatory and autoimmune diseases.
Cleantech Transit Inc (OTCPK:CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. Cleantech Transit Inc has expanded its focus to invest directly in specific green projects that could maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech Transit Inc. has selected to invest in Phoenix Energy (www.phoenixenergy.net).
Cleantech Transit, Inc. (OTCPK: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.
Compared to other forms of energy biomass is very cheap. Other energy forms require high installation costs, most of them require consistent maintenance and some require you to always buy fuel to make sure it keeps on functioning. Biomass energy is very cheap and the installation cost is relatively minimal compared to other forms of energy, you do not have to spend a fortune before you can build a solid biomass system.
For more information about CLNO, visit www.cleantechtransitinc.com
Acme Packet, Inc. (Nasdaq:APKT) announced record results for the quarter ended June 30, 2011 and raised its business outlook for 2011. Total revenue in the second quarter of 2011 was $79.7 million, compared to $53.3 million in the second quarter of 2010 and $74.0 million in the first quarter of 2011. Net income in the second quarter of 2011 was $14.0 million, or $0.20 per share, compared to $9.7 million, or $0.14 per share, in the second quarter of 2010 and $13.7 million, or $0.19 per share, in the first quarter of 2011. Net income on a non-GAAP1 basis in the second quarter of 2011 was $20.4 million, or $0.29 per share, compared to $12.5 million, or $0.19 per share, in the second quarter of 2010, and $18.9 million, or $0.27 per share, in the first quarter of 2011.
Acme Packet, Inc. provides session delivery network solutions that enable the delivery of interactive communications, such as voice, video, and multimedia sessions; and data services across internet protocol (NYSE:IP) network borders.
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