Noble will also assume about US$265 million in debt after the proposed purchase of Sempra Energy Solutions from Sempra Energy (SRE.N) and Royal Bank of Scotland (RBS.L).
Royal Bank of Scotland Group PLC (RBS) and Sempra Energy (SRE) are nearing a deal to sell their joint venture’s North American electricity retail business to Hong Kong-based commodities trading company Noble Group (N21.SG), people familiar with the situation said Friday.
The sale price is in the low hundreds of millions of dollars, the people told Dow Jones Newswires.
On Thursday, US-based Sempra Energy’s chief financial officer said a deal should be announced shortly, without providing any details.
NEWS HIGHLIGHTS
INTEL DEVELOPER FORUM, San Francisco, Sept. 14, 2010 – During keynote presentations today at the Intel Developer Forum, Intel Corporation executives outlined several software- and hardware-related efforts as the company intensifies its System-on-a-Chip (SoC) product plans based on the Intel® Atom™ processor family.
Amid predictions of billions of additional Internet-connected devices going online, Renée James, senior vice president and general manager, Intel Software and Services Group, and Doug Davis, vice president and general manager, Embedded and Communications Group, discussed the expansion of these processors into high-growth areas including netbooks, tablets, CE, embedded, and smart phones.
James: The Best Experiences Are Created on Intel Architecture
During her keynote at Moscone Center West in San Francisco, James outlined how tightly integrated and optimized software and platforms will deliver new levels of performance, along with fresh capabilities and the importance of creating an innovative experience across the personal computing continuum – from PCs to smart phones to tablets and cars, as well as any number of Internet-connected consumer devices.
Emphasizing a seamless experience across operating systems, James introduced general availability of the Intel® AppUpSM center netbook app store for consumers. The Intel AppUp center includes both free and paid apps for entertainment, social networking, gaming and productivity, optimized for a netbook’s mobility and screen size. To encourage consumers to try new applications, Intel AppUp provides “try before you buy” solutions, encouraging consumers to purchase apps they otherwise might not have. The launch was also marked by the availability of Adobe* AIR applications, as well as apps from companies including Accuweather*, Barnes & Noble*, Funkitron*, Gibson Guitars*, iWin*, Kaplan*, KONAMI*, and Lifetime*.
In an effort to reach netbook owners worldwide, James announced agreements with Best Buy*, UK-based Dixons* and India-based Croma* to outfit each retailer with the Intel AppUp center – pre-installed on netbooks the stores sell, as well as available for current netbook owners to download online. Similarly, James announced plans from ASUS* to ship its version of the Intel AppUp center on netbooks, the “asus app store,” starting in October.
During her keynote, James highlighted the Intel AppUp Developer Program, designed to drive innovative applications for end users and new revenue opportunities for independent developers and software vendors with programs such as the Intel Million Dollar Development fund. Rick Vanner from The Game Creators was recognized as winner of the “Most Innovative Application” in the Intel Atom Developer Challenge for his game titled, “Goals.” James also introduced the “On Intel AppUp” ISV identifier, designed to help developers promote their applications on Intel AppUp center.
James acknowledged seamless experiences are only part of the equation. Open operating systems – such as Intel and Nokia’s* MeeGo*, hosted by the Linux Foundation – allow developers to create, invent and innovate. Pointing to contributions from industry leaders, James discussed MeeGo ecosystem momentum, highlighting a variety of MeeGo-based devices and how third-party software developments and the upcoming MeeGo Web runtime, to be released in October, will make it easier to write applications for these devices. Internet TV pioneer Amino* also joined James onstage to demonstrate how the company is taking advantage of the flexibility and openness of MeeGo to deliver an innovative MeeGo-based smart TV solution.
Davis: Smart, Connected, Transformed Experiences
Discussing the important role the Intel Atom brand plays in delivering intelligent computing to connected devices everywhere, Davis outlined the complete Intel Atom processor line and how the company is delivering solutions based on Intel® architecture beyond the PC. Davis also emphasized how Intel Atom processor-based solutions can provide the ideal platform for Internet connectivity, intelligence, and ease of design with customer port of choice.
During his keynote, Davis launched “Tunnel Creek,” a new Intel® Atom™ E600 SoC processor series developed specifically for embedded applications such as in-vehicle infotainment systems for cars, smart grid devices and IP media phones. The SoC integrates additional capabilities onto the chip and features an open interconnect for added flexibility. Making it easier to design and customize with these new products, Vendors including OKI Semiconductor*, Realtek Semiconductor* and STMicroelectronics* will offer interconnect chipsets, and other companion silicon offerings from Dialog Semiconductor*and ROHM Co.* will regulate voltages and synchronize clocks, according to Davis.
Davis went on to unveil details of an upcoming new configurable Atom processor, codenamed “Stellarton.” The processor consists of the Atom E600 processor paired with an Altera* FPGA on a multi-chip package; which provides additional flexibility for customers who want to incorporate proprietary I/O or acceleration and enabling developers to differentiate their designs by reacting quickly to changing requirements
Davis also introduced the Intel® Atom™ processor CE4200, formerly codenamed “Groveland,” which is designed to help seamlessly integrate the Internet experience with TV.
The SoC includes 3-D support, H.264 high-definition encoding capability for usage models such as “sync-and-go” between networked consumer electronics and portable devices, and multiple input stream support to enable the design of cost-effective home gateway appliances. To help address regulatory requirements, the SoC features smart power management capabilities that automatically help to turn off parts of the chip when not in use. A software development kit and familiar tools for integrating applications is also available which OEMs can re-use across products, cutting development time. Davis announced ADB*, Samsung*, Sagemcom* and Technicolor* plan to build set-top boxes based on the new SoC.
Microsoft*, Dell* and Visteon* joined Davis on stage during his keynote. Microsoft announced they have ported Windows* Embedded Standard 7 and Windows Media Center on Intel architecture and demonstrated prototype devices from Acer* and ASUS. Dell previewed their upcoming Intel Atom processor-based Dell convertible mobile device, expected to be available later this year. Visteon demonstrated the use of the E600 series processor in a next-generation automotive infotainment platform. Davis also highlighted mobility products based on the upcoming Intel SoC, codenamed “Oak Trail.” Touting Intel’s port of choice message, mobile device demonstrations included an ExoPC* running Microsoft Windows Embedded Standard 7, a WeTab* running MeeGo* and a Cisco Cius* running Android*.
Visit the full multimedia IDF press kit at www.intel.com/newsroom/idf.
About Intel
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com.
Intel, the Intel logo and Intel Atom are trademarks of Intel Corporation in the United States and other countries.
KONAMI is a registered trademark of KONAMI CORPORATION. * Other names and brands may be claimed as the property of others.
Amazon.com’s Kindle e-reader will be available in Best Buy starting this fall, giving the online retailer another sales channel as it competes against the Apple iPad and Barnes & Noble’s Nook. – Amazon.com’s Kindle will be available at Best Buy starting this fall, giving
the online retailer an offline channel for its popular e-reader. Barnes amp;
Noble’s Nook, perhaps the Kindle’s highest-profile competitor, is already
available at Best Buy in addition to the bookseller’s bricks-and-mor…
Nomura Research in an Aug 13 research report says: “Noble’s 2Q10 adjusted net income was US$47 million, down 51% y-o-y, (significantly lower than the Street, which was at US$120mn). Although we had expected weak results, 2Q numbers undershot our expectations as well.
Amazon’s Kindle, Barnes & Noble’s Nook and the Apple iPad are engaged in a three-way war for the e-reader market. But that conflict’s casualties could end up being smaller e-reader companies, Google Editions and Sony’s e-reader franchise. – With April’s release of the Apple iPad, along with the recent software and
hardware upgrades for both Amazon.com’s Kindle and Barnes amp; Noble’s Nook,
the battle for the e-reader market is well and truly joined. Each of those
three companies seems equally determined to match the others on a num…
DBS Vickers downgrades Noble Group (N21.SG) to Hold from Buy, cuts target price to $1.62 from $2.00, after reducing FY10-11 EPS estimates by 23%-25% to reflect lower agriculture, energy contributions, plus higher selling, general and admin expenses, according to Dow Jones
DBS Vickers says 2Q10 results dismal, with earnings down 65% on year at US$86.6 million ($118 million): “While we believe the market has already priced in the poor results, there remains little catalyst for the stock in the near term.”
Shares off 1.9% at $1.56.
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Credit Suisse upgrades Noble Group (N21.SG) to Neutral from Underperform but trims target price to $1.65 from $1.75, says Dow Jones.
Credit Suisse lowers 2010, 2012 earnings estimates by 4%, 15% on back of weaker-than-expected 2Q earnings but notes strong balance sheet, significant underperformance of stock means negatives mostly priced in.
“Noble now trades at just 12% above its five-year average, versus the peak of 68% premium.” Share price last down 0.6% at $1.58.
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The following companies may have unusual price changes in Singapore trading today. Share prices are from the previous close. Singapore’s Straits Times Index dropped 0.8% to 2,927.04.
Shipping companies: The Baltic Dry Index of commodity-shipping rates rose 2.5% in London yesterday to its highest level since June 29.
Noble Group (N21.SG) +0.6% at $1.64 vs $1.60 earlier, STI down 0.6%, as investors hopeful of prospects nibble on dip before supply chain manager releases 2Q10 results due after market close today, says Dow Jones.
Bottomline expected lower as performance year earlier lifted by revaluation gain on Gloucester Coal (GCL.AU) acquisition, but focus will be management’s guidance amid recent pullback in prices of commodities such as coal. Dow Jones poll tips 2Q10 net profit of US$122.0 million ($166 million) vs US$248.8 million year earlier.
Noble Group’s (N21.SG) 2Q net profit likely down sharply at US$122 million ($166 million) vs US$248.8 million year earlier due to exceptional gain booked last year, according to Dow Jones Newswires poll of 5 analysts.
Revenue likely higher at US$7.8 billion vs US$7.2 billion. “Although certain businesses may turn in lacklustre results in the second quarter, strength from other units as well as contributions from recent acquisitions should buffer the group’s overall performance. We continue to like Noble for its robust medium term growth outlook and reasonable valuations,” says OCBC Investment Research. Results due later today.
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Plastic Logic has canceled its Que e-reader, and the company is vowing to refocus its resources on designing a next-generation product. The Que had been positioned as a high-end challenger to Amazons Kindle and Barnes & Noble’s Nook. – Plastic Logic has canceled
of its Que e-reader, a potential high-end challenger to Amazons Kindle and
Barnes amp; Nobles Nook. In its place, the company will apparently focus on
“a second-generation ProReader plastic electronics-based product.” The Que had
already experienced rounds of delays,…
DBS adds soybean selling in Argentina has been slower-than-expected. But reiterates Buy call: “We believe current weakness is an opportunity to buy for an attractive 21% upside even at reduced earnings forecasts.”
Research house believes group has positive outlook with sale of Middlemount coal operations set to “unlock some cash for new investments in the next quarter.” Notes, possible recovery in sport soybean crushing margins also likely to be reflected in 3Q10, 4Q10 results.
Stock last down 1.2% at $1.63
Macquarie trims FY 2010 profit estimate by 12% to reflect 5.0% fall in overall volume assumptions on difficulties in soy crushing, ores and steel and higher expenses in energy unit.
Research house says: “Noble lacks near-term catalysts and enhanced earnings contributions from its large portfolio of assets should be the next catalyst for FY11.” 2Q results due Thursday.
Share price last down 0.6% at $1.64.
Noble Group (N21.SG) 2Q net profit likely down sharply at US$122 million ($165 million) vs US$248.8 million year earlier due to exceptional gain booked last year, according to Dow Jones Newswires poll of 5 analysts; revenue likely higher at US$7.8 billion vs US$7.2 billion.
With its Customer Experience Platform, Angel aims to authenticate phone conversations for doctors, patients and pharmaceutical sales reps using voice biometrics. The SAAS service is used by pharmaceutical companies such as Pfizer and AstraZeneca, companies in the financial industry such as Bank of America and retail chains such as Barnes & Noble and Best Buy. – Angel, a provider of on-demand, cloud-based customer-engagement services, introduced its Angel 4 Customer Experience Platform for call centers featuring unified multichannel/multimodal communication options such as SMS, chat, e-mail, voice biometrics and mobile management.
The SAAS (software as a s…
Nomura cuts Noble Group (N21.SG) target price to $2.26 from $2.46 after lowering FY10-FY12 earnings estimates by 10.0%-10.9%, says Dow Jones.
Changes reflect weak macro conditions in businesses such as iron ore, logistics, soybean crushing, as well as slower-than-expected ramp-up in new businesses like crude oil trading.
Nomura says 2Q10 results, due Aug 12, may disappoint as earnings from unit Gloucester Coal (GCL.AU) below expectations.
Still, keeps Buy call: “Noble remains a very solid long-term fundamental re-rating story. New investments, albeit slow, should deliver with optimum utilisation in due course.”
Shares flat at $1.66.
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