NEW YORK, March 08, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Hess Corp, Caterpillar Inc, Ford Motor Company.
Hess Corp.(NYSE:HES) plans to exit its retail, energy marketing and energy trading businesses and focus only on exploration and production. It plans to sell its assets in Indonesia and Thailand.
It has also announced a share repurchase plan of up to $4 billion, and has hiked its annual dividend to $1 a share starting from the third quarter. Hess will also elect six independent directors to its board.
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As part of its strategic shift, it has closed its Port Reading refinery in New Jersey. Hess is also looking for other non-core assets, like the Asian assets of Indonesia and Thailand. Apico, PTT Exploration & Production and ExxonMobil Corporation are Hess’s partners in the project. Also, it plans to focus on the North Malay basin and a joint development area in Malaysia and Thailand. The company also wants to monetize its Bakken midstream assets.
Hess expects to boost annual production by 5% to 8% between 2012 and 2014.
It also continues to counter hedge fund Elliott Management’s proposal to split the company.
Meanwhile, Caterpillar Inc.(NYSE:CAT) and General Electric Company(NYSE:GE) are competing against each other to develop natural gas-powered locomotives as the railroad industry is moving from diesel to fuel trains.
Burlington Northern Santa Fe LLC, Union Pacific Corp., and Norfolk Southern Corp. are working with manufacturers on using gas as fuel. CSX Corp. is still studying the technology.
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Burlington Northern, owned by Warren Buffett’s Berkshire Hathaway will begin tests with natural gas locomotives later this year with units from GE as well as Caterpillar.
Meanwhile, Ford Motor Company(NYSE:F) has said that it is recalling 230,000 minivans for rust issues that may cause the third-row seats of the vehicles to come loose.
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About 195,500 minivans in the U.S., and 33,500 in other countries, mostly Canada, are likely to be affected. In the US, the recall is limited to 20 cold-weather states and D.C., as the road-clearing salt may worsen the malfunction. The Ford Freestar and Mercury Monterey, model years 2004 through 2007 are the vehicles affected.
The company will install new seat mounting brackets in the recalled vehicles, as well as preventative panels above the rear wheels to stop water from entering.
Owners of the vehicles to be recalled will notified by the end of March.
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