For Immediate Release
Chicago, IL – January 12, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Broadcom Corporation (BRCM), Ford Motor Company (F), OGE Energy Corporation (OGE) and Edison International (EIX).
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Here are highlights from Monday’s Analyst Blog:
Broadcom Launches SoC Solution
Broadcom Corporation (BRCM) recently launched the highly integrated digital terrestrial converter box system-on-a-chip (SoC) solution designed for Japan’s upcoming transition to digital TV broadcast transmission.
This integrated chip solution features an ISDB-T tuner and is expected to address Japan’s analog broadcast shut-off program along with meeting the requirements of ISDB-T digital programming on a worldwide basis through cost effective and low power chip solutions. The Japanese government plans to convert 50 million households to ISDB-T and targets July 24, 2011 for complete digital conversion of all homes in Japan.
Earlier, Broadcom announced that the Ford Motor Company (F) is using its Bluetooth and Wi-Fi combination chip solution to provide wireless connectivity in some of Ford’s new vehicles. These new systems (based on the Microsoft Embedded Auto software platform) enable cellular handsets, portable media players and other devices to connect directly to the car’s entertainment system and facilitate hands-free operation.
The company also launched its next generation digital terminal adapter (DTA) cable set-top box (STB) system-on-a-chip solution last week. Last month, Broadcom raised its guidance for the fourth quarter of fiscal 2009. The company now expects revenues to increase 5% on a sequential basis to $1.32 billion, up from the prior guidance of $1.25 billion.
OGE Gets OK on Wind Farm Energy
OGE Energy Corporation (OGE) received approval from the Oklahoma Corporation Commission (OCC) to purchase electricity from wind farms currently under development in northwestern Oklahoma. This regulatory approval enabled the company to increase its renewable energy capacity to 550 MW. OGE Energy, prior to the regulatory approval, had 270 MW of wind capacity in northwestern Oklahoma near Woodward.
The OCC order clears the way for OGE Energy’s customers to receive electricity from a 150 MW wind farm being constructed by CPV Keenan in Woodward County and a 130 MW facility being built by Edison International’s (EIX) subsidiary Edison Mission Energy in Dewey County near Taloga. Both wind farms are expected to be operational by year-end 2010. The Commission approved 20-year power-purchase agreements, under which the developers will build, own and operate the wind farms and OGE Energy will purchase their electric output.
OGE Energy plans to further expand its wind power portfolio to approximately 770 MW by 2012. OGE Energy planned capital expenditures of approximately $617 million and $567 million in fiscals 2010 and 2011, respectively. To support this, the company expects to raise $200 million – $250 million of long-term debt in mid-2010. Of this, a significant chunk is expected to be refinanced by long-term notes at cheaper rates.
OGE Energy is a public utility holding company. Its principal subsidiary is Oklahoma Gas and Electric Company, a regulated public utility engaged in the generation, transmission and distribution of electricity to retail and wholesale customers. Its other subsidiary is Enogex Inc., which owns and operates natural gas transmission and gathering pipelines, has interests in several gas processing plants, markets electricity, natural gas and natural gas liquids and invests in crude oil and natural gas operations.
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