First Solar, Inc. (NASDAQ:FSLR): Rising manufacturing capacity of solar panels and wind turbines in China has made a large oversupply and a possible financial crisis for manufacturers and state-owned banks, according to the New York Times. China’s most prominent solar panel makers have faced losses of as much as $1 for every $3 of sales during the year.
Lions Gate Entertainment Corp. (NYSE:LGF): Brian Goldsmith was named co-COO of the company. Goldsmith joins co-COO Steve Beeks, and they will report to Lionsgate CEO Jon Feltheimer regarding corporate management issues. The two will also keep working closely with Vice Chairman Michael Burns and General Counsel Wayne Levin on M&A activities and initiatives concerning Lions Gate’s capital structure, which includes significant corporate and project financings. Goldsmith was a main player in the arrangement of Lionsgate’s recently closed $800 million revolving credit facility along with the company’s October 2011 secondary equity offering and its two high yield debt offerings. He was instrumental in the company’s January 2012 acquisition of Summit Entertainment, which is the August 2011 sale of Canadian distributor Maple Pictures to Alliance Films and the February 2009 acquisition of TV Guide Network and TVGuide.com. Additonally, he was also a key player in overseeing Lionsgate’s partnerships with Viacom and MGM in the Epix channel, Sony ,and Comcast in the FEARnet Channel and the launch of Celestial Tiger Entertainment in Asia with partners Saban Capital Group and Astro’s Celestial Pictures. Goldsmith was EVP of Corporate Development and Strategy since September 2008, and he was responsible for leading the company’s acquisition and corporate development activities.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>
Caterpillar Inc. (NYSE:CAT) Q2 report shows decreasing Chinese sales, after enjoying solid growth in North America. Caterpillar’s report stated that China’s construction market was weak, and the company was forced to cut output and reduce inventory, despite its expectations of a better second half of the year. It made the decision to set up a plant in Texas that makes hydraulic excavators, assisted by a $14.3-million government grant.
Avon Products Inc. (NYSE:AVP) announced that Andrea Jung told the board her intentions to resign as Executive Chairman and Board member, beginning on December 31 after the successful transition to new leadership under CEO Sheri McCoy. Jung intends to keep serving as a senior adviser to the Board starting January 1, 2013.
Constellation Brands Inc. (NYSE:STZ) reports its Q2 revenue at $699 million, consensus $710.09 million.
Don’t Miss: Starbucks Launches This Mobile Attack.