News Buzzers: BP plc, Research In Motion, Nokia Corporation, Costco Wholesale, Superior Venture Corp


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NYSE:NOK / NYSE:BP
11/28/2012 [ACCESSWIRE]

NEW YORK -- Beststocksdaily, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on BP plc, Research In Motion, Nokia Corporation, Costco Wholesale, Superior Venture Corp.

The BP plc (ADR)(NYSE:BP) oil spill case of 2010, which resulted in the death of 11 rig workers, is set to see three executives being held responsible for the accident.

Two BP rig supervisors and a former BP executive were scheduled to be arraigned Wednesday on criminal charges, the Associated Press reported.

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BP well site leaders Robert Kaluza and Donald Vidrine were indicted this month on manslaughter charges in the death of 11 rig workers, the report said.

The federal indictment accuses them of disregarding abnormal high-pressure readings that should have been glaring indications of trouble just before the blowout of BP's Macondo well.

Former BP executive David Rainey was charged separately with concealing information from Congress about the amount of oil that was leaking from the well, it added.

Meanwhile Canadian handset maker Research In Motion Limited (USA)(NASDAQ:RIMM) has lost a contract dispute over the use of Nokia Corporation (ADR)(NYSE:NOK) patents in a case which could stop the sales of its BlackBerry phones if it doesn't reach a deal to pay royalties to Nokia, reports Reuters.

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According to a Swedish arbitration authority, the Blackberry maker was in violation of the contract and was not entitled to manufacture or sell WLAN products without first agreeing royalties with Nokia.

Warehouse retailer Costco Wholesale Corporation(NASDAQ:COST) on Wednesday declared a special dividend of $7 a share. The special payout comes on top of the regular cash dividend that was declared Oct. 30.

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Separately, Costco reported that for November, same-store sales rose 6 percent, including a rise of 6 percent in the U.S. and 7 percent internationally. Total sales for the month rose 9 percent to $8.15 billion from $7.51 billion in the year-earlier month.

Shares of the company soared 6% to $102.12.

Meanwhile, Superior Venture Corp(OTC:SVEN) has acquired a motion picture development and production company Ilustrato Pictures Ltd. The latter co-creates feature film projects with Chinese companies who produce films to be distributed in China and internationally.

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London-based Ilustrato Pictures will operate as a wholly owned subsidiary of US based Superior Venture Corp.

The purpose of establishing Ilustrato Pictures was to co-create feature films in partnership with Chinese motion picture companies. Its business model combines North American capabilities in motion picture development with low production costs backed by guaranteed revenue from the Chinese market as well as international film distribution.

Ilustrato’s management has been building networks in China, and has strategically aligned with top Chinese production companies, studios and state owned agencies. It therefore has a significant advantage in doing business in China, out of bounds for most Hollywood film companies.

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