Top 5 Companies in the Independent Power Producers Industry With the Best Relative Performance (DYN, HNP, MIR, NRG, CEG)

Below are the top five companies in the Independent Power Producers industry as measured by relative performance. This analysis was compiled based on yesterday's trading activity as we search for stocks that have the potential to outperform.

Dynegy (NYSE:DYN) ranks first with a gain of 2.35%;

Huaneng Power International (NYSE:HNP) ranks second with a gain of 1.62%;

and Mirant (NYSE:MIR) ranks third with a gain of 1.55%.

NRG Energy (NYSE:NRG) follows with a gain of 1.43%

and Constellation Energy (NYSE:CEG) rounds out the top five with a gain of 1.17%.

SmarTrend is bullish on shares of DYN and our subscribers were alerted to Buy on May 25, 2010 at $4.76. The stock has risen 9.9% since the alert was issued.

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Bernanke: Recession is over, but tough times will linger

The deep recession that's gripped the U.S. economy by the throat since December 2007 is "very likely over at this point," Federal Reserve Chairman Ben Bernanke said Tuesday.

However, Bernanke painted a picture of an underperforming economy well into next year as he fielded questions after a speech at the Brookings Institution, a center-left research center in the nation's capital.

"From a technical perspective the recession is very likely over," Bernanke said, cautioning that unemployment is likely to remain high. "It's still going to feel like a very weak economy for some time, as many people will still find that their job security and employment status is not what they wish it was. So that's a challenge for us and all policymakers going forward."

Most mainstream economists think that the National Bureau of Economic Research, the official scorekeeper of when recessions begin and end, eventually will declare that this downturn came to an end in the summer or early fall of 2009.

What follows may not feel much like recovery, Bernanke cautioned, because structural problems in the U.S. economy are likely to resurface. There'll be economic growth during the rest of this year, "but the general view of most forecasters is the pace of growth in 2010 will be moderate, less than you might expect, given the depth of the recession, because of ongoing head winds."

The "head winds" he referred to include an impaired credit system, households still trying to dig out from personal debt and ongoing adjustments in many sectors of the economy, such as construction and autos.

In addition, the government must unwind many of its massive stimulus efforts or risk igniting inflation. That's all likely to lead to a weaker recovery than after past recessions, and a lingering high unemployment rate.

The sluggish outlook was punctuated by August retail sales data released Tuesday by the Commerce Department. Sales rose by 2.7 percent over July, driven up by the government's "cash for clunkers" car sales program and higher gasoline prices.

Drop those two factors, and retail sales rose by only 0.6 percent. That's another sign of consumer reluctance to spend amid widespread job insecurity.

"The various fiscal stimulus measures, including the cash for clunkers program, are playing a pivotal role in jump-starting the economy in the third quarter of 2009, and that should create enough initial momentum to keep the recovery in motion, but we should not be looking for consumer spending to be a major driver of the recovery beyond the current quarter," Brian Bethune, a U.S. economist for forecaster IHS Global Insight, warned in a research note Tuesday.

Looking over a longer horizon, Bernanke said that a major factor in the recent global expansion of credit was significantly impaired and unlikely to revive anytime soon. The implication: less lending and at higher costs.

The Fed chief was referring to securitization, the process by which loans are sold to Wall Street firms that bundle them together into securities that are sold to investors. Their returns on investment come from monthly payments that consumers make on their homes, cars, credit cards and student loans.

Securitization is in a deep freeze right now because investors no longer want pooled loans, fearing defaults by consumers and businesses. This is one reason it's so difficult now for consumers to get credit to buy cars or houses. Bernanke warned that even when this process resumes, it's unlikely to be as vigorous as it was during the go-go days earlier this decade.

"My forecast would be that the shadow banking system — securitization markets — will come back, will be a substantial part of the U.S. credit system. But they will certainly, at least in the medium term, be simpler, smaller, less opaque, subject to more oversight by regulators," Bernanke said. "And those things, I think, will constrain its growth for a period of time."

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WABCO Supplies MAN Latin America for 4,000 School Buses in Brazil, Improves Vehicle Safety and Comfort; MAN's Largest Delivery Ever

WABCO Holdings Inc. (NYSE: WBC) [www.wabco-auto.com], a global technology leader and tier-one supplier to the commercial vehicle industry, today announced that the company is supplying MAN Latin America in support of their contract with the federal government in Brazil to produce 4,000 school buses featuring improved vehicle safety and passenger comfort.

MAN Latin America, the market leader in Brazil, is part of the MAN Group, one of Europe's leading manufacturers of commercial vehicles and diesel engines.

As part of a national program to modernize the school bus fleet in Brazil, the federal government has ordered 4,000 of MAN Latin America's Volksbus buses, the vehicle maker's largest delivery ever. WABCO is supplying a range of products and innovative solutions that deliver advanced safety and enable cleaner, more efficient operation over the lifetime of the vehicles. Due for delivery by the end of 2011, these buses will further expand Brazil's public transportation system for schoolchildren in cities and rural areas.

""We are proud to contribute to MAN Latin America's increasingly successful Volksbus as this vehicle demonstrates high quality transportation and enhanced safety alike,"" said Nikhil Varty, WABCO Vice President, Compression and Braking. ""On this Volksbus made for transporting schoolchildren in Brazil, WABCO's content helps significantly to improve vehicle safety while increasing passenger comfort.""

About WABCO

WABCO Vehicle Control Systems (NYSE: WBC) is a leading supplier of safety and control systems for commercial vehicles. For over 140 years, WABCO has pioneered breakthrough electronic, mechanical and mechatronic technologies for braking, stability, and transmission automation systems supplied to the world's leading commercial truck, trailer, and bus manufacturers. With sales of $1.5 billion in 2009, WABCO is headquartered in Brussels, Belgium. For more information, visit www.wabco-auto.com

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Costco Wholesale Corporation Reports April Sales Results

Costco Wholesale Corporation reported net sales of $5.83 billion for the month of April, the four weeks ended May 2, 2010, an increase of 13 percent from $5.18 billion in the same four-week period last year. This year's four-week period for April included 28 days of sales compared to 27 last year; Easter fell in the reporting month of April last year. This calendar shift positively impacted this year's April total and comparable sales by approximately two to three percent.

For the thirty-five weeks ended May 2, 2010, the Company reported net sales of $51.04 billion, an increase of 9 percent from $46.66 billion during the similar period last year. Inflation in gasoline prices and strengthening foreign currencies had a positive impact on comparable sales.

Additional discussion of these sales results is available in a pre-recorded telephone message. You can access the recording by dialing 1-800-642-1687 (conference ID 44186110). This message will be available today through 5:00 p.m. (PT) on Friday, May 7, 2010.

Costco currently operates 567 warehouses, including 414 in the United States and Puerto Rico, 77 in Canada, 21 in the United Kingdom, seven in Korea, six in Taiwan, nine in Japan, one in Australia and 32 in Mexico. The Company also operates Costco Online, an electronic commerce web site, at www.costco.com and at www.costco.ca in Canada. The Company plans to open up to six additional new warehouses prior to the end of its fiscal year on August 29, 2010.

Certain statements contained in this document and the pre-recorded telephone message-constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, conditions affecting the acquisition, development, ownership or use of real estate, actions of vendors, rising costs associated with employees (including health care costs), geopolitical conditions and other risks identified from time to time in the Company's public statements and reports filed with the Securities and Exchange Commission.

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Gannet Co Inc Announces Quarterly Dividend

Gannet co., Inc. has declared a regular quarterly dividend of $0.04 per share. The dividend will be payable on July 1, 2010. It will be paid to shareholders of record as of June 4, 2010.

The company’s shareholders have re-elected Craig Dubow, Howard Elias, Arthur Harper, John Jeffry Louis, Marjorie Magner, Scott McCune, Duncan McFarland, Donna Shalala, Neal Shapiro and Karen Hastie Williams to its Board of Directors. The election was held during the company’s annual meeting at Gannett’s headquarters. The directors will serve one year terms that will end at the company’s next annual meeting in 2011.

Gannett Co., Inc. (Gannett) is an international media and marketing solutions company. The Company publishes 83 daily United States newspapers, including USA TODAY, the daily print newspaper, and more than 650 magazines and other non-dailies, including USA WEEKEND. The Company also operates 23 TV stations in 19 the United States markets and Captivate, which operates video screens in office elevators in urban markets. Gannett's subsidiary Newsquest is the United Kingdom’s regional newspaper company with 17 daily paid-for titles, more than 200 weekly newspapers, magazines and trade publications, and a network of Websites. The Company operates in three segments: publishing, digital and broadcasting. In July 2009, Newsquest sold one of its commercial printing businesses, Southernprint Limited. In February 2009, the Company purchased a minority interest in Homefinder, a national online marketplace connecting homebuyers, sellers and real estate professionals.

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GlaxoSmithKline receives UK approval for Combodart

GlaxoSmithKline has been granted a licence approval for Combodart, a new treatment for moderate-to-severe benign prostatic hyperplasia (BPH).

The therapy, which is a combination of dutasteride and tamsulosin hydrochloride, has been approved on the basis of results from a four-year clinical study, which showed its efficacy in reducing the risk of urinary retention and BPH-related surgery.

It is the first treatment to be approved in the UK which combines the positive effects of two separate recommended monotherapies.

Dr Jon Rees, a GP from Bristol with a special interest in urology, said the effectiveness of the treatment makes it more likely that patients will stick to medication regimes and avoid disease progression.

He added: "By delivering all the advantages of two treatments in one single capsule, the arrival of Combodart represents a new approach to BPH management in the UK."

Last week, GlaxoSmithKline published its financial report for the first quarter of 2010, reporting a year-on-year turnover increase of 13 per cent.

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United Parcel Service Inc rolls out hybrid electric vehicles in Stafford Read more: UPS rolls out hybrid electric vehicles in Stafford

The new vehicles are the latest in the expansion of the Atlanta-based company’s alternative fuels vehicle fleet expansion, and part of a rollout of 200 new HEVs deployed in seven other U.S. cities: Austin; Chicago, Long Island, Louisville, Minneapolis, Philadelphia and Washington, D.C.

The hybrid power system combines a conventional diesel engine with a battery pack, and use regenerative braking, where energy from the friction of applying the brakes is captured and returned to the battery as electricity.

The HEVs will cut down on fuel consumption by about 35 percent, the company said, equaling about 100 regular UPS delivery vehicles.

United Parcel Inc also uses compressed natural gas, liquefied natural gas, propane, electricity and hydraulic hybrid technology in its alternative fleet.

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Comcast rolls out mobile broadband to 5 cities

Comcast Corp. on Wednesday said it has rolled out mobile broadband service in Portland, Ore., Philadelphia, Seattle, Houston and Boston.

Called High-Speed 2go, the service in the five cities will operate on Sprint Nextel Corp.'s nationwide 3G network.

Comcast is offering a "Fast Pack" $54.99-a-month promotion for one year that bundles mobile and wired Internet access. The price will go up to $69.99 a month after 12 months.

Existing wired Internet customers can add mobile 3G broadband for $40 or more per month for both services.

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Wabco posts 1Q profit of $30M, reversing loss

Wabco Holdings Inc., which supplies components for commercial vehicle manufacturers, posted first-quarter net income Wednesday of $30.7 million, citing higher truck and bus production in emerging markets.

The company also lifted its full-year forecast.

The Brussels-based company said earnings for the three months ended March 31 came to 47 cents per share. That compares with a loss of $36.4 million, or 57 cents per share, in the same period last year.

Excluding items, the company earned 51 cents per share. Results on that basis breezed past Wall Street estimates. According to Thomson Reuters, analysts expected 25 cents per share, on average.

Revenue rose to $491.1 million from $333.9 million. Analysts expected $427.8 million.

"The commercial vehicle industry is recovering," said Wabco Chairman and CEO Jacques Esculier.

The company said Asia and South America showed "significant growth" during the quarter, adding that 75 percent of the world's truck and bus production took place in China, India and Brazil.

Wabco raised its full-year earnings forecast to $1.27 to $1.67 per share, excluding items, citing a recovery in European truck and bus demand. Analysts expect $1.32 per share.

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NRG Energy's Wind farm set to move forward

Federal waters off Delaware are officially open to bidders seeking to lease parts of the Outer Continental Shelf. That means NRG Energy’s Bluewater Wind wind offshore farm is a big step closer to completion.

NRG Energy spokesman David Gaier said, “We feel that we are very far along in the game as far as the Mid-Atlantic Wind Park is concerned.” He said the company already has in hand a power-purchase agreement with Delmarva Power for 200 megawatts of energy, an agreement to deliver wind power to the regional electric grid and a lease to install a meteorological tower for studies.

Gaier said the company plans to have turbines generating power by 2014.

Gaier said NRG is reviewing the application from the Minerals Management Service (MMS), which is part of the interior department. “This action by the Department of the Interior formally opens the permitting process for us,” said Gaier. This is the first-ever offshore wind permit process, said Gaier, so the company can’t estimate how long it will take. But, he said, the company expects to meet its deadlines.

Gov. Jack Markell said, “Delawareans are eager to seize the economic and environmental benefits of offshore wind and we are proud to be the first state in which MMS will issue an Offshore Wind Request for Interest.”

Gaier said the company would also have to complete environmental-impact studies, including the effects of the planned park on migratory birds.

“We believe, based on other studies and from long-term experience in Europe, there will be no negative impact on birds. In fact, one of the first organizations to support us in Delaware was Delaware Audubon,” said Gaier.

NRG Energy purchased Bluewater Wind from Australian-based Babcock and Brown in November 2009 after Babcock and Brown had financial problems and went into voluntary administration, selling off its assets. In 2008, Bluewater Wind and Delmarva Power signed a power-purchase agreement after more than a year of contentious negotiation. MMS said if there is no competitive interest, the agency says it may proceed with a noncompetitive lease process. Both options will include public participation and environmental review, the agency said.

The Department of the Interior announced last week the first step in allowing a wind farm project off Rehoboth Beach. Interior secretary Ken Salazar said federal and Delaware officials have been working closely on the project. The Minerals Management Service governs continental shelf leases.

The Request for Interest includes federal waters between Delaware Bay shipping routes. The point closest to land is 7.5 miles due east of Rehoboth Beach.

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Conoco Net Income More Than Doubles on Oil Prices

ConocoPhillips, the third-largest U.S. oil company, said first-quarter profit more than doubled after higher crude prices increased the value of its production.

Net income climbed to $2.1 billion, or $1.40 a share, from $800 million, or 54 cents, a year earlier, Houston-based ConocoPhillips said today in a statement. Excluding costs related to pulling out of two Middle East projects, profit was $1.47 a share, 10 cents higher than the average of 15 analyst estimates compiled by Bloomberg. Revenue surged 46 percent.

ConocoPhillips said in October it planned to divest $10 billion of assets as it intensifies its focus on exploring for oil and natural gas. The company reached nearly half its goal when it agreed this month to sell a Canadian oil-sands stake for $4.65 billion.

Improving economic conditions have helped crude prices rise this year. Oil futures traded in New York were 82 percent higher, on average, in the first quarter than a year earlier.

“I think they’re executing about as well as can be expected given the environment they have,” said James Halloran, a consultant at Financial America Securities in Cleveland.

ConocoPhillips rose 55 cents to $59.10 at 4:15 p.m. in New York Stock Exchange composite trading. The stock has nine buy ratings from analysts, eight holds and three sells. Before today, ConocoPhillips had climbed 15 percent this year in New York trading.

Production Falls

ConocoPhillips said production of oil and gas in the first quarter fell about 5 percent from a year earlier to 1.83 million barrels of oil equivalent a day. The company cited normal field declines in the U.K. and North America, the effects of production-sharing agreements and unplanned downtime in North America related to weather.

The company said its earnings from producing oil and gas more than doubled in the first quarter to $1.83 billion. The company’s stake in Russia’s OAO Lukoil had a first-quarter profit of $387 million, compared with $8 million a year earlier.

ConocoPhillips said in March that it wants to sell half its 20 percent stake in Lukoil by the end of 2011. A 10 percent stake was valued at about $5 billion last month. The Lukoil sale is in addition to a plan to sell $10 billion in assets within the same period. This month, ConocoPhillips also said it’s pulling out of the Yanbu refinery venture with Saudi Aramco and the Shah gas project with Abu Dhabi. Costs related to those two projects totaled $110 million in the first quarter.

More Focused

“I think they’re finally realizing that they don’t have to be big to be appreciated by the market,” said Brian Youngberg, an analyst at Edward Jones in St. Louis who has a “buy” rating on ConocoPhillips shares and owns none. “If they focus on returns and operate their assets well, they will be rewarded in terms of improved share price.”

ConocoPhillips said it is increasing drilling in the Eagle Ford shale formation, with four horizontal wells completed and three more being drilled. The company also said three wells in North Dakota’s Bakken Shale began producing last month.

The company is seeking to reduce its refining and marketing business, whose profit margins have been squeezed by reduced demand for transportation fuels. ConocoPhillips has said it eventually wants that segment to comprise 15 percent of its portfolio, compared with 28 percent last year.

Clayton Reasor, vice president of corporate affairs at ConocoPhillips, said in March that the company may enter into some refinery joint ventures or sell interests. ConocoPhillips doesn’t expect to sell a refinery in the next couple of years, he said.

Refining Loss

ConocoPhillips reported a loss of $4 million from refining and marketing in the first quarter, compared with earnings of $205 million a year earlier. The company said its U.S. refining utilization rate was 88 percent in the first quarter, while the international rate was 48 percent in part because of maintenance work.

Profit from DCP Midstream, a pipeline and gas-processing venture with Spectra Energy Corp., fell 37 percent to $77 million. ConocoPhillips’s chemicals business, held in a joint venture with Chevron Corp., earned $110 million, compared with a profit of $23 million a year earlier.

Exxon Mobil Corp. and Chevron are the biggest U.S. oil companies. Exxon Mobil said today that first-quarter profit rose 38 percent. Chevron is scheduled to report earnings tomorrow.

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Berkshire rebounds from 2009 $1.5 billion 1Q loss to post a preliminary $3.6 billion profit

Berkshire Hathaway has rebounded from last year’s first-quarter loss and earned $3.6 billion as the economic recovery began and Berkshire absorbed Burlington Northern Santa Fe railroad.

CEO Warren Buffett shared preliminary first-quarter results with shareholders Saturday at Berkshire’s annual meeting. The full report will be released Friday.

Last year’s $1.5 billion loss included a $241 million loss on the sale of investments and a $1.9 billion charge from writing down a ConocoPhillips investment.

The addition of Burlington Northern more than doubled Berkshire’s regulated businesses unit income to $555 million. The unit also includes utilities.

Buffett says Berkshire’s results show the economy is improving because manufacturing and retail income grew 85 percent to $477 million.

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Exxon Mobile Q1 profits up by 38%

Exxon Mobil has said its first quarter profits rose 38% from the same period a year earlier to $6.3 billion.

The profits excluded a $200m charge to pay for changes in US healthcare legislation. Amid high oil prices of around $85 a barrel, Exxon had been expected by analysts to report slightly stronger.

In 2009 Exxon recorded the largest profit of any publicly-listed company in the world, a whopping $40.6 billion, boosted by record high oil prices.

The Texas-based company said oil production increased around 4.5% in the first quarter compared with the same period a year ago.

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Republic Services, Inc. Reports Record First Quarter Results

Republic Services, Inc. today reported net income of $65.0 million, or $0.17 per diluted share, including a loss on the extinguishable of debt and other charges as further described in this release, for the three months ended March 31, 2010, versus $113.0 million, or $0.30 per diluted share, for the comparable period last year.

Republic's adjusted net income for the three months ended March 31, 2010 increased $16.9 million, or $0.03 per diluted share, to $157.6 million, or $0.41 per diluted share, from $140.7 million, or $0.38 per diluted share, for the three months ended March 31, 2009. Adjusted net income excludes a loss on the extinguishment of debt, costs to achieve synergies, restructuring charges and loss on disposition of assets and impairments, net for the three months ended March 31, 2010 and exclude costs to achieve synergies, restructuring charges and loss on disposition of assets and impairments, net for the three months ended March 31, 2009. A detail of these costs and charges is contained in the Reconciliation of Certain Non-GAAP Measures section of this document.

Earnings before interest, taxes, depreciation, depletion, amortization and accretion (EBITDA) for the three months ended March 31, 2010 was $604.5 million compared to $598.1 million for the comparable period in 2009. Excluding certain costs and charges recorded during 2010 and 2009 as previously described, adjusted EBITDA for the three months ended March 31, 2010 would have been $619.7 million or 31.7% as a percentage of revenue, compared to $647.1 million, or 31.4% as a percentage of revenue, for the comparable 2009 period.

Revenue for the three months ended March 31, 2010 was $1,957.7 million compared to $2,060.5 million for the same period in 2009. Core price for the three months ended March 31, 2010 increased 2.2%, commodity pricing increased 1.8% and fuel charges increased 0.3%. Core volume decreased by 7.0% during the period.

"During the quarter, Republic achieved the highest EBITDA margins in its history," said James E. O'Connor, Chairman and Chief Executive Officer of Republic Services. "Our performance is a direct result of the organization's continued focus on pricing, productivity improvements, customer service and synergy savings. Thus far, we have achieved approximately $180 million in annual run-rate synergy savings. I am especially pleased with the results of our recent $1.5 billion bond offering. Approximately $30 million of our annual run-rate synergies have been generated by refinancing debt at more favorable rates and we now expect total synergies to be in the range of $185 to $190 million."

Don Slager, President and Chief Operating Officer stated, "Our continued focus on safety resulted in a significant reduction in our risk cost during the quarter. Also, we have begun to see signs of increased economic activity, including indications of greater industrial activity, throughout the United States. Implementation of programs designed to lower costs, drive efficiency and increase productivity will allow us to generate higher returns as economic conditions improve."

Company Declares Quarterly Dividend

Republic also announced that its Board of Directors declared a regular quarterly dividend of $0.19 per share for shareholders of record on July 1, 2010. The dividend will be paid on July 15, 2010.

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Union Pacific promises to move train traffic faster

If you're one of those Glen Ellyn residents having trouble sleeping because of freight trains rumbling along the Union Pacific tracks, there may be some relief in sight.

Union Pacific officials appeared before the Village Board on April 26 to outline plans for improvements they say will speed train traffic along.

"We're doing something significant to eliminate this process," Union Pacific Public Affairs Director Tom Zapler said of the habit of trains stopping and idling at all hours of the night.

Speaking in front of the board and about 30 residents who live close to the tracks, Zapler and General Superintendent David Giandinoto laid out plans to make improvements to their operations that will give residents some relief.

Union Pacific runs from 50 to 60 freight trains per day through Glen Ellyn. The noise problem comes primarily from trains idling during the times they are stopped by congestion from Metra commuter trains, Union Pacific officials said.

While the problem is worst during morning and evening commutes, residents have complained that weekends are a problem as well.

Using locomotives on both ends of the train, a measure that increases fuel efficiency but also produces more noise, compounds the problem.

Union Pacific is partnering with Metra in series of initiatives that are designed to reduce downtime to enhance public safety, reduce delays by 50 percent and grade crossing downtime by 11 percent.

Two high-speed crossovers, one in Wheaton and the other in Lombard, will be installed at the railroad's expense, which will get a grant from the Illinois State Commerce Commission to defray costs.

With no other crossovers between Elmhurst and West Chicago, trains have no ability to switch from one track to another to avoid bottlenecks.

Village President Mark Pfefferman asked why the problem persisted on weekends when there was little in the way of Metra commuting.

"We tend to run more trains," Giandinoto said.

Trustee Carl Henninger pointed out that westbound trains were a problem, particularly in the area near Park Boulevard.

Zapler seemed surprised by that assertion.

Residents peppered the Union Pacific representatives with questions.

"We have seen a significant increase in train traffic," Gina Meyers said, noting that the noise problem was aggravated by the rear engines. She also asked if Union Pacific had plans to install a fourth track in Glen Ellyn.

"We have no plan whatsoever," Zapler said.

Anne Akamatsu noted that the railroad's own policies called for shutting down locomotives after 15 minutes of idling and asked, "How do you enforce them (the policy)?"

Zapler promised to look into the problem.

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Riverview Bancorp Q4, fiscal 2010 losses grow

Riverview Bancorp Inc. reported a fourth-quarter net loss of $4.7 million, or a loss of 44 cents per diluted share, which compares with a loss of $720,000, or a loss of 7 cents a share a year earlier.

In the latest quarter, the Vancouver, Wash.-based banking company (NASDAQ: RVSB) recorded a $5.9 million provision for loan losses.

For fiscal 2010, Riverview reported a loss of $5.4 million, or a loss of 51 cents per share, compared with a loss of $2.7 million, or a loss of 25 cents a share a year earlier. For fiscal 2010, the company recorded a $15.9 million provision for loan losses, compared with $16.2 million recorded in 2009.

No major analysts cover the company.

“While our increased provision for loan losses put a damper on profitability, we are encouraged with the progress we have made as we move through this economic phase. Nonperforming assets declined during the quarter and remain manageable while our capital and liquidity levels remain strong,” said Pat Sheaffer, chairman and CEO, in a statement.

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Bank of America Refinance Mortgage Rates – Home Loans Lower on April 30th for First Time Home Buyers

Bank of America refinance mortgage rates remain at low levels as we are seeing home loans around 4.85% for the 30 year fixed mortgage. As April comes to a close and the first time home buyer tax credit is set to expire many first time buyers are flooding the market hoping to get a very low mortgage rate with a great home price.

Bank of America and almost all mortgage lenders continue to enjoy the low interest rate environment. Just this week the Federal Reserve Bank announced that they are going to take the necessary steps to keep interest rates low for an extender period of time. This means that banks and lenders will be able to add new customers.

Customers are benefiting from this low interest rate environment as they are able to borrow money at much lower rates. This means that mortgage and car payments are likely much less. With this being the case, well qualified borrowers can save a significant amount of money that they can use to buy some of the finer things in life that they desire.

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Comcast sees good quarterly results

Comcast Corp. its quarterly profits go up. The good thing is that it was able to beat the analyst expectations.

Comcast is the largest cable company. It has been able to do this, since the company added newer customers through its high-speed Internet services.

The company saw its earnings rise by 31 cents as against the expectations of 30 cents.

The Philadelphia-based company was able to add 1.02 million new customers.

Comcos has also rebranded itself and takenover the name if "Xfinity". With this, it wants to highlight that it gives very high speed Internet service.

Then there are services lime "OnDemand Online" which helps the customer watch videos on the Web.

The news reports also suggest that Comcast is trying hard to win over the customers of Verizon. Its main focus is Philadelphia and Washington.

Comcast saw its net income increase by 12 per cent to touch $866 million or 31 cents for every share. Last year, the figure was $772 million or 27 cents.

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Norfolk Southern earnings rise, revenue up

Norfolk Southern Corp. announced Tuesday that its first-quarter profit rose 45 percent from the same quarter a year ago, as the effects of the global recession eased.

Net income was $257 million, or 68 cents a share, for the quarter that ended March 31, up from $177 million, or 47 cents a share, in the first quarter of 2009. The earnings beat Wall Street projections by 2 cents a share. The average earnings-per-share estimate of analysts surveyed by Bloomberg News was 66 cents.

Norfolk Southern's operating revenues for the first quarter rose 15 percent to $2.2 billion, from $1.9 billion in the same quarter last year.

It was the first time in 15 months that the Norfolk-based railroad, the nation's fourth-largest, was able to announce a year-over-year increase in net income. That last occurred on Jan. 27, 2009, when it reported fourth-quarter 2008 profit jumped 13 percent.

For all four quarters of 2009, profit decreases ranged from 32 percent to 45 percent.

"Looking ahead, we are increasingly convinced that the domestic economic recovery is well under way, although the rate of growth is still somewhat unclear," Norfolk Southern CEO Wick Moorman told Wall Street analysts in a teleconference late Tuesday. "...We saw a big upsurge in business in March, and while some of that was clearly catch-up from a snowbound February, we are very encouraged that our April volumes have continued to be strong."

Quarterly revenues were up across all of the railroad's business segments:

--General merchandise rose to $1.2 billion, a 23 percent increase from $975 million in the same quarter a year ago.

--Coal climbed to $629 million from $602 million last year, a 4.5 percent increase.

--Intermodal, involving the shipment of truck trailers and shipping containers, was up 12 percent, rising to $410 million from $366 million in the same quarter last year.

Norfolk Southern released its earnings after the close of trading on the New York Stock Exchange. In trading Tuesday, its stock fell $1.44 a share, closing at $59.65.

On Thursday, Union Pacific, the nation's largest railroad, reported that its net income for the first quarter rose 43 percent, to $516 million from $362 million in the same quarter a year ago. Revenue grew 16 percent, to $3.96 billion.

On April 13, CSX Corp., the third-largest, reported that first-quarter net earnings jumped 24 percent compared with the same quarter a year ago, to $306 million from $246 million. Revenue grew 11 percent, to $2.49 billion.

Burlington Northern Santa Fe, the second-largest, was acquired by Warren Buffett's Berkshire Hathaway Inc. earlier this year and no longer releases its own earnings.

Berkshire Hathaway's first-quarter earnings are expected to be announced early next month.

Norfolk Southern operates roughly 21,000 route miles in 22 states and the District of Columbia and serves every major container port in the eastern United States, including Hampton Roads. Earlier Tuesday, the railroad announced the regular quarterly dividend of 34 cents per share on its common stock, payable on June 10, to stockholders of record on May 7.

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ConocoPhillips reports 1st quarter profit

Conoco-Phillips announced Thursday that “significantly improved” oil and natural gas prices helped more than double net profit from one year ago, despite stumbling production.

The Houston refiner reported a first quarter net income of $2.1 billion, or $1.40 per share, from $800 million, or 54 cents per share, in the same quarter of 2009, according to ConocoPhillips documents. Earnings available to the common shareholders were $2.2 billion, or $1.47 per share, following the company’s decision to end participation in the Shah Gas Field and Yanbu refinery projects in the Middle East.

Revenue reached $44.8 billion in the quarter, up from $30.7 billion in 2009’s first quarter, company documents state.

“Improving market conditions in the first quarter contributed to increased earnings,” ConocoPhillips Chairman and CEO Jim Mulva said in a conference call with investors and the media.

Production of oil and gas in the first quarter fell about 5 percent from one year ago, when the company produced about 1.93 million barrels of oil per day, according to company documents.

The decrease was due to normal field declines in the United Kingdom and North America, the effects of production-sharing agreements and unplanned down time in North America related to weather, company documents state. But increased production from China and Canadian oil sands helped offset the decrease.

ConocoPhillips annou-nced in October it hopes to sell $10 billion in assets to focus on oil and natural gas exploration efforts.

The company agreed this month to sell its stake in Syncrude, a Canadian oil sands project, for $4.65 billion. It also hopes to sell half of its 20 percent stake in Russian oil giant Lukoil, which produced earnings of $387 million in the first quarter for ConocoPhillips.

“The increase in dividends and the sale of the Syncrude interest are examples of steps we have taken to increase distributions and improve our balance sheet,” Mulva said. “As previously annou-nced, we decided to opt out of the Yanbu refinery project and have elected not to participate in the Shah gas field development in Abu Dhabi. Over the next couple of years we expect to see improved shareholder returns through disciplined capital investment, a strengthened financial position and growth in shareholder distributions.”

The company reported gains in all but two segments.

ConocoPhillips exploration and production arm recorded first-quarter earnings of $1.83 billion, an increase from the $700 million it posted in last year’s first quarter, according to company documents.

“The higher crude oil and natural gas liquids prices resulted in improv-ed earnings across our E&P portfolio,” Mulva said.

ConocoPhillips refining and marketing segment lost $4 million in the first quarter, compared with a profit of $205 million in the year-ago quarter, company documents state. Weakened market conditions hurt the refining and marketing segment, but light-heavy crude differentials widened and earnings benefited from lower costs and improved clean product yields.

The company’s chemicals arm, Chevron Phillips Chemical, earned $110 million in the first quarter, compared to $24 million in the same period one year ago, company documents state.

ConocoPhillips’ emerging business arm earned $6 million in the first quarter, according to company documents.

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