Casella Waste (CWST) announced after the bell today it will periodically sell up to 250 million in Class A shares, preferred stock, warrants and debt securities in order to repay debts and for general corporate use. The news should be enough to send the stock further into the abyss tomorrow with a possible challenge of the 2002 lows on the horizon.
The stock is down less than 1% after hours.… Read the rest
Energy Solutions, Inc, a member of Washington River Protection Solutions, LLC, has officially taken over Hanford’s Tank Operations Contract. The tanks in question hold approximately 53 million gallons of radioactive chemical waste, and EnergySolutions will work with other partners in the LLC to maintain the tanks and start removing the waste. The 10-year contract is valued at $7.1 billion by the Department of Energy.
Steve Creamer, CEO and Chairman of EnergySolutions, commented on the project, … Read the rest
Shares in all sorts of companies, whether green or not-so-green, have been affected by the current market turmoil in the US. However, as QualityStocks.net notes, Converted Organics is one of the few companies whose stock price has remained afloat in the troubled market. On August 25, Converted Organics stock was trading at $3.55. Yesterday, they were up to $7.74/share.
To try to get to the bottom of this mysteriously good performance, Quality Stocks interviewed … Read the rest
Converted Organics (COIN) announced today that it has entered a relationship with Central Jersey Waste/Premier Management. Converted Organics converts food waste into a natural fertilizer that can be used to amend soil for organic gardening and farming. The company already has the permits needed to build a processing plant that can process 500 tons of food waste per day, using a high-temperature liquid composting process. Once the plant is up and running, Converted Organics and … Read the rest
China Energy Recovery, Inc will present its industrial waste energy recovery system at the SIG Second Annual Beijing Management Summit. At the moment, China Energy recovery only offers its product in China, but the company anticipates a global demand since the problem of industrial waste and the energy used in disposing it is worldwide.
China Energy Recovery’s system allows industrial manufacturers to convert industrial waste energy into cheap electrical power, generating electricity without burning additional … Read the rest
The Emervest blog recently reviewed the stocks of two waste management companies, American Ecology(ECOL) and Clean Harbor (CLHB). American Ecology treats both hazardous and low-level radioactive waste, and has been doing quite well. Last quarter, the company’s net income increased 20%. Their stock has increased by almost 50% this year, as well.
Clean Harbors is another good waste management stock that is also on the rise, having increased approximately 40% since New Year’s 2008. The … Read the rest
Barron’s reports that Covanta Holding (CVA) is at the forefront of the waste to energy industry. "With skyrocketing fuel prices, increasing worldwide concern over climate change and overflowing landfills, Covanta is positioned to see strong growth in both domestic and international markets.
This could be a great time to buy the Fairfield, N.J.-based company, which "owns landfills and energy generation plants, the majority of which are waste-to-energy facilities. Covanta incinerates garbage to produce electricity for … Read the rest
Clean Harbors (CLHB) reported better than expected earnings this morning and raised its full year 2008 revenue outlook. After initially selling off this morning, the stock has recovered significantly and reclaimed key support levels.
The company credited the strong results to growth across all segments and higher utilization of its domestic incinerators.
The company reported a 44% jump in income which beat estimates. Revenue rose 11% from the year ago period which also edged estimates. … Read the rest
IDSA, the scrap metal recycler of Kentucky, reported strong results after the bell yesterday with revenues surging 77% over the year ago period and EPS more than doubling to 1.66 million
“ISA is benefiting not only from the higher price of commodities, but we are also successfully maximizing the utilization of current assets while we invest in expanding our processing and shipping capacities,” said Brian Donaghy, ISA President and Chief Operating Officer. “This is evident … Read the rest
Schnitzer Steel (SCHN) announced yesterday that they have purchased 3 self service used auto parts businesses in Texas and Arkansas, bringing the total number to 38 for the company.
“These three facilities complement our self-service franchise and are another important step in the growth of the Company’s Auto Parts Business,” stated Tom Klauer, President of the Auto Parts Business.
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled ferrous metal … Read the rest