Diana Shipping Inc. (NYSE:DSX) will acquire, through a separate wholly-owned subsidiary, a newly built Post-Panamax dry bulk carrier of 98,697 dead-weight tonnage, that was built by Tsuneishi Group Zhoushan Shipbuilding Inc., from a third party seller for $25 million. The ship will be named “Amphitrite”, and should be delivered to the company by the sellers in mid-August 2012. Including the newly purchased vessel, Diana Shipping Inc.’s fleet currently consists of 29 dry bulk carriers plus 2 new-building Ice Class Panamax vessels expected to be delivered to the firm during the fourth quarter of 2013. Shares closed up 2.06 percent on the day at $6.44, and have traded in a 52-week range of $6.28 to $10.19.
Ford Motor Credit (NYSE:F) is scheduled to report its second quarter earnings on Wednesday, July 25th before the market open in a conference call slated for 9:00 am Eastern Time. Analysts anticipate earnings per share of 28 cents on revenue of $32.17 billion, against a consensus range between 23 and 34 cents, with $30.43 billion to $33.55 billion for revenue, according to First Call. In the first quarter, Ford posted North America pre-tax profits of $2.1 billion, which marked an increase of $289 million year-over-year from 2011. The company projects second quarter overseas losses that could triple the first quarter pre-tax loss, so its performance in North America will be the crux of the report. On July 2, Sterne Agee reduced its target on Ford shares to from $18 to $15, pointing to weakness in the company’s overseas business, but kept its Buy. Shares closed down 1.2 percent on the day at $9.06, having been traded in a 52-week range of $9.05 to $13.44.
General Motors Company (NYSE:GM) suspended production at a facility in Brazil on Tuesday due to labor unrest, says Reuters. The company refused to speculate as to how long the shutdown might last. Shares closed down 1.45 percent on the day at $19.02, and have traded in a 52-week range of $18.85 to $29.70.
Gentex Corp. (NASDAQ:GNTX) continues to see increased volatility in customer orders within the 12-week customer release window. A portion of its customers, including the tier 1 mirror vendors, decreased their orders at the last minute, which makes it increasingly problematic to forecast with any iota of certainty. The company has seen increased pricing pressures, causing a trend that moves toward the higher end of the range for annual customer price reductions which had previously been reported by the company. Shares closed down 29.03 percent on the day at $15.01, having been traded in a 52-week range of $19.36 to $32.21.
Infosys Limited (NASDAQ:INFY), a software company in India, announces that it will hire about 2,000 employees in the United States by the end of this year, according to the Economic Times. Shares closed down 1.21 percent on the day at $38.33, and traded in a 52-week range of $38.12 to $63.57.
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