Chevron Bails On Olokola LNG Nigerian Venture and 2 Other Dow Movers To Watch
Chevron Corp. (NYSE:CVX): Current price $121.16
It was announced Thursday that Chevron has withdrawn from Nigeria’s Olokola liquefied natural gas plant venture, at least the second partner to withdraw to do so. The decision to sell its 23-percent stake was based on “a review of our investment decision, the lack of progress on the project, and a reprioritization of resources to focus on growing domestic gas supply,” said Chief Executive Andrew Fawthrop of Chevron’s Nigeria unit in an e-mailed statement from the commercial capital Lagos. Spokeswoman Tumini Green for state-owned partner Nigeria National Petroleum Corp., did not immediately respond to two phone calls requesting comments.
The Walt Disney Co. (NYSE:DIS): Current price $61.31
The Spanish language broadcaster Univision is building up its new English cable news network targeting younger viewers, Fusion, and hiring hundreds of staffers as it gets ready to move into the crowded cable market. The network is a joint venture with Disney’s ABC, and will appear in 20 million homes in October, however executives said it intends to be in 60 million homes. Disney, as the parent of ESPN, can get Fusion wider domestic distribution, but presently, it will only reach a portion of CNN’s 99 million homes.
Hewlett-Packard Co. (NYSE:HPQ): Current price $22.55
On Thursday, Hewlwtt-Packard unveiled its most recent software security application, HP Fortify Static Code Analyzer 4.0, to aid businesses in identifying software vulnerabilities at a quicker rate. The application will be available from September, and marks the latest offering from H-P’s Fortify portfolio. The Analyzer helps its clients to reduce their business risks, maintaining the specification needed for compliance regulations, and guards them against malicious application attacks. The SCA 4.0 can accelerate the process of code analysis and enhance the accuracy levels by roughly 20 percent as well.